Technology Exclusives

unconventional, portfolio, optimization, oil and gas, oil price, EY

Oil and gas companies have survived the worst of the downturn. Now it’s time to begin thinking about growth and developing a platform that can produce higher returns over the long term.

Digital Efficiency

 

Digital technology is helping oil and gas companies extend and increase the efficiencies gained through hardware-centric initiatives.

Maersk Oil, Total, North Sea, acquisition, oil and gas

The acquisition is expected to increase Total’s output to 3 MMboe/d by 2019.

ONGC Videsh, exploration, invest, Colombia, Bangladesh, Kazakhstan, oil and gas

The investment plans include drilling more wells in Colombia, where the company recently made a commercial discovery, and exploration activities in Kazakhstan and Bangladesh.

Oilfield Services Sector Continues Consolidation With Nabors-Tesco Merger

Nabors’ roughly $216 million acquisition of Tesco is ‘rare win-win in oil patch consolidation,’ analyst says.

Technology Completion

patent, Deloitte, Center for Energy Solutions, hydraulic fracturing, oil, gas

Proppant tracking, flowback prevention and nanoparticles are among the areas of focus, according to a study released by Deloitte.

shale, technology, KCA, oil, ConocoPhillips, Halliburton, drilling, well, proppant

Recent trends and new technology indicate operators and service companies are thinking outside of the box and experimenting with different methods and techniques to grow production.

William D. Von Gonten Jr., W.D. Von Gonten & Co., DUG, Eagle Ford, shale, fracture, prop, completion, model

Better insight, including on calcite and ash bed layers, could lead to better frack designs, greater stimulation and ultimately, more production.

The technology uses an industry standard downhole data logger to collect data from which measurements are made and fracture locations pinpointed.

Schlumberger, Paal Kibsgaard, oil, drilling, technology, hydraulic fracturing, investment

The company plans to produce a new hydraulic fracturing system and a ‘land drilling system of the future.’

Technology Contracts

KBR Inc. (NYSE: KBR)  said it was awarded a pre-front end engineering design (FEED) and project support services contracts by BP for the development of the Tortue (Ahmeyim) field offshore Mauritania and Senegal on Aug. 17.

Maersk Drilling has been awarded a contract by Shell for the deepwater semisubmersible rig Mærsk Developer. The contract covers the drilling and completion of three wells and the suspension of one well, all located in Block E of the East Coast Marine Area offshore Trinidad.

Atwood said one of its subsidiaries agreed to a one-well contract with Kosmos for operations offshore Northwest Africa. The day rate was not disclosed.

The joint venture company will build the concrete gravity structure for the development’s fixed drilling platform.

Croatia's CROSCO, part of energy group INA, said on Aug. 3 it had won deals worth €47 million (US$56 million) to drill 12 wells in Ukraine.

Technology Digital

Machines are smart, but effective well management relies on getting the right data to the right humans at the right time.

Advances in data analytics can give operators a much clearer picture of their complex plays.

Wireless communication solutions can provide reliable high-capacity connectivity that is scalable enough to cater to current requirements and future expansions.

New collaboration technology captures knowledge and accelerates group decision-making for a world-class African discovery.

From new collaborative models to digitized operations, disruptive innovation can redefine the oil and gas industry.

Technology Downhole

The new agreement enhances policies and procedures established through the Global Industry Response Group and adopted by the Subsea Well Response Project consortium, the press release said.

Halliburton said it collaborated with customers to design the Dash Large Bore, which can isolate the lower landing string in six seconds or less, disconnect from the lower landing string in ten seconds or less, and provide downhole data.

Andrew F. J. Gould and James W. (Bill) Stewart were appointed to the board of directors at BJ Services, and Evelyn M. Angelle joined as executive vice president and CFO, the company said Jan. 19.

Combining real-time downhole intelligence, coiled tubing strength and flexibility, and continuous electrical power benefits fishing, milling, cleanouts, perforating and other operations.

David G. Gallagher said that trademarked Gilsonite is a naturally occurring asphaltite that binds and strengthens as an additive for drilling fluids and cementing.

Technology Equipment

Drillers cut five oil rigs this week, bringing the total count down to 763, Baker Hughes, a GE company (NYSE: BHGE), said in its report on Aug. 18.

The deal, which would be mostly paid for in shares and convertible bonds, would strengthen Transocean's position in offshore drilling as Songa is Statoil's largest drilling service provider.

Drillers have added rigs in 56 of the past 63 weeks since the start of June 2016. The rig count is an early indicator of future output.

The current U.S. oil and gas rig count is 954, according to Baker Hughes. That compares with an average of 509 in 2016 and 978 in 2015.

The world’s biggest oilfield service provider Schlumberger took a 20% stake via a private placement in the company managed by former Seadrill executives in March.

Technology Operations

Andrew G. Inglis, chairman and CEO of Kosmos Energy, said this secondary listing on the London Stock Exchang eis the next step in the Dallas-based company’s evolution.

The expected investment and output growth are part of a trend of new Mexican oil companies looking to exploit the energy reforms the country finalized in 2014.

Several provisions of the sanctions law signed by U.S. President Donald Trump earlier this month target Russia’s energy sector, which produces much of its foreign income, with new limits on U.S. investment in Russian companies.

On Aug. 12 Kuwait said various services were investigating the incident but did not give the magnitude of the spill near Kuwait's southern Ras al-Zour area nor its cause.

Tullow Executive Vice President Ian Cloke said in a speech during the launch in northern Zambia that exploration would take between two and 10 years, development three to 10 years and production 20 to 50 years.

Technology People

Echeverry, who has headed the company since March 2015 through difficult times caused by the global fall in crude prices, has resigned for family reasons, Ecopetrol said in a statement.

Arthur James Johnson has been named CEO of Texas-based Hunting PLC, effective Sept. 1, the company said in a news release on Aug. 16.

John Freeman, who most recently served as special advisor to the integration of Technip and FMC, has been appointed senior vice president, general counsel and corporate secretary for McDermott International Inc.

Franklin, who is currently the interim chairman of Norway’s Statoil, will assume the role of Premier Oil’s nonexecutive chairman from Sept. 1, the company said.

The NOC gave no reason for the protest in Zawiya, which began on Aug. 6, forcing oil workers to gradually reduce production from Sharara which is located in Libya's south west.

Technology Regulations

Similar to artificial islands where oil and gas are produced in nearby state waters, Hilcorp proposes to build a small artificial gravel island in 19 ft of federal water in the Beaufort Sea, about 20 miles east of Prudhoe Bay, on a 9-acre site.

Brazilian prosecutors plan to investigate the controversial sale in 2015 of the Argentine subsidiary of Petrobras (NYSE: PBR), Brazil's state-controlled oil company, lawyer Felipe Caldeira, said on Aug. 16.

Indonesia’s Pertamina said on Aug. 16 that tax issues related to importing crude oil into the Southeast Asian country could scupper plans by the state oil firm to take stakes in two energy blocks controlled by Russia’s Rosneft.

Petrobras has been authorized to export idle LNG in the spot market, according to the Aug. 9 issue of the Official Gazette.

Chairman Manuel Pangilinan told reporters he was looking to discuss plans to resume PXP’s stalled Reed Bank project in the hotly contested waterway with the Philippine government.