With oil prices expected to continue rising in 2017 and 2018 amid a forecast tightening of the supply-demand balance, analysts said energy firms will boost spending on drilling, Reuters reported.
Drillers added four oil rigs in the week to Oct. 14, bringing the count up to 432, the most since February, but still below 595 rigs a year ago, according to energy services firm Baker Hughes Inc. (NYSE: BHI).
The work, the first project under a recently signed multiuse agreement between the two companies, is expected to cut Suncor’s well pad facilities costs to about C$2 million per well pair from more than C$4 million to C$9 million per well pair, the release said.
The Subsea Services Alliance, a collaboration between Helix Energy Solutions Group Inc. (NYSE: HLX) and Schlumberger (NYSE: SLB), have launched development of the first riserless open-water abandonment module (ROAM).
Platform surveillance, subsea surveys and inspection of subsea flowlines are among the potential uses for drones in the E&P space.
The term ‘game changer’ is sometimes thrown around too easily, but it is completely deserved in the case of the giant vessel Pioneering Spirit.
The combined number of oil and gas rigs active so far this year has averaged 480 rigs, according to Baker Hughes data, Reuters reported.
A new SWD facility design creates a safer, more efficient flowback fluid disposal process.
The acquisition marks RockPile's first deal after being acquired by White Deer Energy on Sept. 8. Denver-based RockPile was a subsidiary of Triangle Petroleum, which filed for chapter 11 in June.
The Baker Hughes report showed the North American count dropped this week by four to 638, compared to 1,024 a year ago.
More than two-thirds of rigs added over the past two months were located in the Permian Basin in West Texas and eastern New Mexico, Reuters said.
As global energy demand and oil price uncertainty linger, one of the world’s largest oilfield services company is positioning itself for growth.