U.S. firms across the value chain can take advantage of opportunities that will emerge from Mexico’s energy reform, say experts at EnerCom.

Net profit at the company fell nearly 48% in the second quarter to 787 billion Colombian pesos (US$270.6 million), Reuters reported. 

Tests showed a crude oil flow rate of 2,406 barrels per day, Sonatrach said in a statement.

Kuwait is a major member of OPEC, pumping about 3 million barrels per day, Reuters reported.

The North American rig count jumped by 18 this week to 582. The count was 1,089 a year ago.

supply, demand, floating, rig, drilling, Quest Offshore, Leslie Cook, oil, gas

High attrition is expected to ease the excess drilling supply, bringing a supply and demand balance in 2017.

The five wells will be drilled back-to-back in the program, which will probably last about two and a half months, Bengal said. 

The campaign includes re-entry of the Alta-3 appraisal well and then the suspended Neiden exploration well, and also drilling a new exploration well targeting the Filicudi prospect.

Canadian drillers added more than a dozen rigs this week, helping to push the North American rig count up by 21 to end the week at 542, according to the latest report from Baker Hughes Inc. (NYSE: BHI). The oil and gas rig counts in Canada each grew by seven to 44 and 50, respectively. 

The latest report from Baker Hughes Inc. shows the North American rig count jumped by 14 this week.

U.S., Arctic, exploration, drilling, regulations, BOEM, BSEE

Industry groups call the rules an ‘unfortunate turn’ and say the regulations include ‘unnecessary requirements.’

VAALCO Energy, Inc. announced that it has executed an agreement with Transocean Ltd. regarding the remaining contract term associated with the Constellation II rig.

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