The company reported a net loss of $692 million for second-quarter 2016, an improvement from the $1 billion loss recorded the quarter before.
High attrition is expected to ease the excess drilling supply, bringing a supply and demand balance in 2017.
The JV comes about six months after Golar and Schlumberger said they signed a memorandum of understanding.
Harold Hamm, who endorsed Trump in April and spoke at the Republic National Convention on July 20, shrugged at the notion.
Pre-downturn sanctioned projects are expected to grow offshore production next year, but the cancellation of pre-FID projects could create a ‘supply crunch’ later, report says.
The company plans to produce a new hydraulic fracturing system and a ‘land drilling system of the future.’
At Hart Energy’s DUG Rockies conference, technology panelists said drilled but uncompleted wells are an appetizing prospect for producers in trying times.
Drilled but uncompleted wells in the U.S. provide an opportunity to examine new shale drilling and completion technology.
Researchers at Rice’s Integrated Systems and Circuits lab tap sensing and wireless communications expertise to develop a new generation of microchips for oil and gas applications downhole.
The report is the first of several analyses of the additive’s performance in three core basins, with this one focusing on the Greater Wattenberg area of Colorado’s Denver Julesburg Basin.
The onshore package will be deployed for the testing of exploratory and completed wells onshore at Rajahmundry.
Work is scheduled to begin in July of this year and go through March 2017.
A Hague arbitration court awarded the U.S. company $96 million in 2011 in a dispute stemming from a 1973 deal that called for Texaco, later acquired by Chevron, to develop fields in exchange for selling oil to Ecuador at below-market rates.
The license allows Baker Hughes to produce and deploy Alternate Path technology and gravel packing services for ExxonMobil affiliates worldwide and also for projects in which the company has an interest.
ADC, a rig inspection consultancy based in Scotland, will provide support in more than 14 countries worldwide, the release said.
New technologies are increasing the industry’s situational awareness of cybersecurity threats, experts tell the crowd at DUG Permian Basin.
A Silicon Valley-based deep learning, artificial intelligence company is using artificial neural networks to help find oil and gas using geoseismic data.
Opportunities for further efficiency gains are abundant with technology, but a company has singled out a few technologies that it believes will shape the oil and gas industry’s future.
Although strides have been made in cybersecurity, the potential for more cyberattacks exists. A consulting firm gives advice.
"This power will help us to improve our performance and to reduce our costs," said Arnaud Breuillac, Total's E&P president. "In the era of big data, state-of-the-art data-intensive computing is a competitive advantage."
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.
JetStream was recently used in a 6.5-in. intermediate section in the North Sea that was drilled to 10,446 ft total depth through soft, porous limestone.
GCDT fits fully into Prysmian’s expansion strategy in subsea umbilicals, risers and flowlines and complements its product range. The portfolio of protectors will be enhanced, the company added.
The technology provides internal alternate flow paths, called shunt tubes, in the downhole tool to gravel pack the producing sections of a well, ExxonMobil Upstream Research Co. said in a news release
Most of the new rigs were in the Permian Basin in West Texas, where drillers added eight, bringing the total count up to a five-month high of 168.
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.
Capping stack systems currently available are extremely difficult to deploy due to their size and weight, Halliburton said in a July 11 press release.
The latest report from Baker Hughes Inc. shows the North American rig count jumped by 14 this week.
VAALCO Energy, Inc. announced that it has executed an agreement with Transocean Ltd. regarding the remaining contract term associated with the Constellation II rig.
Founded in 2004 by Donal Bramblett, IPI president, the company is one of the largest domestic suppliers of natural polymers, including guar, to the industry, according to a press release.
Certain it would obtain the huge contract to drill 600 wells, Trenaco began hiring staff and buying equipment months before winning the tender, according to four high-ranking sources from the now-liquidated company, Reuters reported.
The company's results on July 26 missed expectations, with analysts surprised by higher corporate charges, including administrative costs relating to Gulf of Mexico oil spill liabilities, and a lower contribution from its stake in Rosneft.
The strike will be the first staged by Unite's North Sea oil members in 28 years, the union said. Workers affiliated with the RMT union are also taking part.
Mozambique made one of the world's biggest gas finds in a decade in 2010 but negotiations with operators Eni and Anadarko Petroluem have dragged on for years due to disputes over terms and concerns about falling energy prices.
Farms outside the city of Prince Albert, Saskatchewan, that rely on city water have had supplies cut off, Reuters reported.
Brown will oversee the company’s global business development functions across the Houston company's business segments. He brings more than 25 years of energy banking experience to this new role, according to the release.
Petrobras CEO Pedro Parente said he is in favor of national content requirements, but based on products that local industry is able to make competitively, Reuters said.
Muyiwa Adejobi, a spokesman for Ogun state's police, said the attack took place on the night of June 12 in the town of Ogijo, Nigeria, Reuters reported.
Jack B. Moore has a bachelor’s of business administration degree from the University of Houston, and attended Harvard Business School’s advanced management program.
Beijing has refused to recognize the ruling by the Permanent Court of Arbitration that granted the Philippines sovereign rights to access offshore oil and gas fields, including the Reed Bank, a shallow tablemount some 85 nautical miles off its coast.
The industry ministry will examine whether oil firm Statoil, which is responsible for 60% of Norway's oil and gas output, misuses its dominant position over suppliers.
The areas up for grabs are located along the coasts of Veracruz, Tabasco and Campeche states, where most of Mexico's oil production occurs.
The country is offering 67 discovered small fields in 46 contract areas, including 26 onshore, 18 shallow-water and two deepwater areas.
In 2015, BP reached agreements to settle outstanding federal, state and local government claims arising from the incident.