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As Venezuela’s crisis goes deeper, government and opposition leaders refuse to talk about real changes in the country’s oil legal framework, a Venezuelan analyst says.
The head of the world’s largest oilfield service company says the world could face a medium-term supply deficit given today’s reserves depletion rate and falling exploration spending.
North America revenue grew by 6% to $1.9 billion, while international revenue dropped by 7% to about $4.9 billion compared with the previous quarter.
At DUG Permian Basin, Tom Petrie advised that the U.S. is poised to become a key driver of the oil supply equation.
Proppant tracking, flowback prevention and nanoparticles are among the areas of focus, according to a study released by Deloitte.
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.
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.
The company plans to produce a new hydraulic fracturing system and a ‘land drilling system of the future.’
The award scope includes 17 total enhanced vertical deep water trees and associated tooling as well as five manifolds and associated controls and tie-in equipment.
Reuters said the main oil firms involved in South Sudan, which produced about 245 Mbbl/d until fighting flared at the end of 2013, are China National Petroleum Co., Malaysia's state-run oil and gas firm Petronas, and India's ONGC Videsh.
Two sources told Reuters the estimated cost of the gas-oil separation plant expansion alone is about $1.7 billion. Front-end engineering typically takes as long as a year to complete from the day of the award of contracts.
The vessel will be performing well intervention services under a multiyear contract with Petrobras, according to a Business Wire news release.
Under the contract, KBR’s engineering offices in multiple locations worldwide may provide Chevron with engineering and procurement services across all phases of Chevron’s major capital projects program. This includes field development planning and conceptual engineering through FEED, detailed engineering and final design.
Flotek’s Reservoir Cognitive Consultant TM is intended to improve decision-making using machine learning to maximize reservoir performance through the Watson platform.
Lower commodity prices have not stopped oil and gas companies’ efforts to guard against cyberattacks.
The FRACGAS II JIP continues the development of the Elfen tight gas reservoirs (tgs) software suite pioneered by Rockfield, a geomechanics software solutions developer. The research aims to enhance finite element (FE) based modeling technology and microseismic methodology, the release said.
The benefits of modern network connectivity in the field make for a better, safer and more productive operation.
New technologies are increasing the industry’s situational awareness of cybersecurity threats, experts tell the crowd at DUG Permian Basin.
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.
Ely's world-class reservoir stimulation and completion consulting services will be packaged with Flotek’s CnF customized completion chemistries for clients that purchased CnF chemistries directly through The Flotek Store.
Drillers added five oil rigs in the week to April 21, bringing the total count up to 688, the most since April 2015, energy services firm Baker Hughes Inc. (NYSE: BHI) said on April 21.
The valve is an ultra-HP/HT version of Interventek’s Revolution safety valve for in-riser landing string systems.
The Skandi Búzios pipelay support vessel, owned by the 50-50 joint venture formed between TechnipFMC and DOF Subsea, has started its eight-year charter contract with Petrobras, as scheduled on April 13, according to a news release.
Drillers added 11 oil rigs in the week to April 13, bringing the total count to 683, the highest since April 2015, energy services firm Baker Hughes Inc. (NYSE: BHI) said on April 13. At this time a year ago, there were 351 active oil rigs.
Drillers added 10 oil rigs in the week to March 31, bringing the total count up to 662, the most since September 2015, energy services firm Baker Hughes Inc. (NYSE: BHI) said March 31. During the same week a year ago, there were 362 active oil rigs.
The field, oil lot 192 near the Ecuadorean border, has been idle since last year due to pipeline ruptures. Pacific Exploration & Production said a group of 30 indigenous people began the protest on April 22.
Venezuela, South America’s largest oil exporter, has been pummeled by a brutal economic crisis that has millions skipping meals, unable to afford soaring prices for basic goods and facing long lines for scarce products.
Hess had earlier this year set a higher spending target for 2017 and said it would expand in the U.S. Gulf of Mexico, Thailand and Guyana and ramp up drilling in North Dakota's Bakken Shale.
Reuters reported that Halfaya, operated by PetroChina, is Maysan Oil's largest field, producing 200 Mbbl of the company's total output of 380 Mbbl/d, according to Maysan Oil's Adnan Noshi.
Quarterly revenue fell to $2.26 billion in the first quarter ended March 31 from $2.67 billion. Analysts’ on average had expected revenue of $2.27 billion, according to Thomson Reuters I/B/E/S.
After July 24, Joyner will be replaced by John Li as interim CFO until a replacement is appointed, the company also said.
Tony Hayward, who was Genel's CEO until 2015 and is also the chairman of Glencore, will not receive any severance package beyond his salary, a company spokesman said, Reuters reported.
Russ Ford currently serves on the board of directors at Pacific Exploration & Production Corp., and Robert Rice currently is the COO of Archrock Inc.
The company did not give a reason for the changes, which come ten months after Yang Hua was promoted to CEO and Yuan Guangyu was named president, Reuters said.
Brooks has more than 34 years of experience in the energy industry, most recently as CEO for Yates Petroleum which merged with EOG Resources in October.
A Canadian court upheld a decision to grant lenders priority over environmental clean-up costs in oil-and-gas bankruptcies, raising chances more disused wells from defunct companies could become a government responsibility.
Trump this week will sign new executive orders, including two on energy and the environment, which would make it easier for the U.S. to develop energy on and offshore, a White House official said April 23.
The U.S. and EU imposed economic sanctions on Russia over its annexation of the Crimea region in 2014 and role in the conflict in eastern Ukraine.
The amended time line was a result of discussions between the government and stakeholders and will be incorporated into the proposed regulations expected to be announced at the end of April, CBC News reported.
Chevron said it was disappointed by the judgment in the case, which covers the five tax years from 2004 through 2008.