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The near-term offshore drilling market is one of the most challenged upstream sectors, with its long-term recovery—while undoubted—to lag behind any broader upturn.
Drillers added two oil rigs in the week to Nov. 11, bringing the total count up to 452, the most since February, but still below the 574 rigs seen a year ago, energy services firm Baker Hughes Inc. (NYSE: BHI) said on Nov. 11.
System provides operators with savings and efficiency for shale production.
Benefits of AUV use continue to expand. AUVs are being used to survey and inspect pipelines and flowlines and to verify the integrity of subsea structures.
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.