well stimulation, oil services, Hart Energy

The carnage in oil services pricing nears the end.

Drillers added rigs in all of the major U.S. shale oil basins—three in the Eagle Ford in South Texas, two in the Bakken in North Dakota and Montana, and one each in the Niobrara in Colorado and Wyoming and the Permian in West Texas and eastern New Mexico.

The suspension will take effect once Scarabeo 5 has completed drilling a well on the Kristin Field in the middle of August. 

James Parsons, CEO of U.K.-based Sound Oil Plc, said smaller E&Ps have an opportunity to expand projects while prices are low and larger E&Ps grapple with debt, Bloomberg said.

Local officials in Lancashire County, England, rejected Cuadrilla Resources Ltd.’s plans to drill shale gas at Preston New Road site, Bloomberg said. Roseacre site drilling plans were rejected last week.

NOAA granted Royal Dutch Shell permission to use noise from air guns, ice breaking, drilling and anchor handling to disturb Arctic wildlife in renewed oil exploration offshore Alaska, Bloomberg said.

Contract drilling fleets of Trinidad Drilling Ltd. and CanElson Drilling Inc. will combine after the companies combine under court-approved plan. The combined Canadian company will have 163 land drilling rigs.

Most drilling involves finishing contracts or meeting lease obligations.

Sterling Energy Mauritania Ltd. will acquire interest in Block C-10 offshore Mauritania around Chinguetti Field in 50m to 2,400m of water. A proved petroleum basin has multiple play types.

Pumping more oil was the goal discussed at the recent OPEC summit. OPEC has pumped above its production quota for months, determined to subdue supply from higher-cost producers, Bloomberg said.

The underexplored Great Australian Bight off the coast of South Australia remains high on BP’s agenda with the supermajor taking the chance to talk up the opportunities of the frontier basin at the Appea conference and exhibition. 

Milestone 800Mbbl/d oil production in Santos and Campos basin presalt fields was reached April 11. Petrobras’ share is about 74%. Remainder belongs to partner companies working in different presalt areas.