Potential buyers have had to cut employees, and so far few companies are going out of their way to aggressively buy frack fleets or other equipment.
With Australia on its way to becoming a LNG force, Peter Coleman said the challenge for Australian LNG was the ability to shift from a project constructor and builder to a LNG “trader, marketer and producer.”
Shale is not the only area hurting from lower oil prices, analysts say. Deep water, Arctic and Canadian oil sands projects also are being impacted.
The Melbourne-based junior’s profile was raised recently with the first offshore Senegal discovery in 20 years. Managing Director Cath Norman explains the significance of the discovery and where the company can go from here.
Some Asian companies are probably discouraged by lower oil and gas prices, but others are motivated, according to a partner at Mayer Brown.
This latest patented invention relates to fluid treatment and, more particularly, to an improved treatment apparatus for destroying aerobic and anaerobic bacteria in fluids used in oil and gas recovery and conditioning of said fluid for reuse, Ecosphere said in the release.
A process called forward-osmosis is applied to clean water used in hydraulic fracturing.
Researchers estimate that for every gallon of water used to frac for natural gas, Texas saved 33 gallons of water by using that gas for electricity generation.
The contract for drillship Ocean Rig Poseidon was extended until second-quarter 2017 after all closing conditions were met for Ocean Rig’s omnibus agreement with Eni Angola SpA.
Saudi Aramco will receive engineering, procurement, construction and installation services, fabrication services and facility maintenance for development of non-associated gas fields and production as it expands offshore to Red Sea.
Well 6507/11-11 will be first well drilled in production license 591 near Heidrun and Njord fields in Norwegian North Sea. The license 591 was awarded on Feb. 4, 2011.
GS Energy Corp., the energy unit of South Korea’s GS Holdings Corp., will access 50Mbbl/d of oil for its share in Abu Dhabi’s largest onshore oilfield concession, Bloomberg said.
Under a five-year, US$250 million contract, Massy Wood Group will provide engineering, procurement and construction services to BP's 13 upstream offshore facilities in the Greater Cassia and Greater Mahogany areas.
Using technology to generate, process and analyze data can lead to improved operations.
With big data and predictive analytics, operators can use production surveillance, comparing predictions to new actuals to determine how a particular oil or gas asset is performing. In response, adjustments can be made to improve production and overall operations.
Asset Guardian Solutions specializes in protecting companies’ process critical software assets.
Under the five-year contract, BP said it will offer courses next year in a new-state-of-the-art Maersk Training facility in Houston.
As hackers unleash clever cyberattacks, companies and individuals can work together to protect valuable data.
Manufacturing and engineering firms see the first green shoots of activity improvement as the industry retools for the future.
The TAM FastSwell technology utilizes a proprietary process that alters the geometric design of the elastomer to provide ultra-fast, but predictable and controlled swell rates for challenging downhole conditions.
Problematic areas have included perforation issues, loss of fracture length, and sometimes wellbore connectivity.
The news, mentioned May 19 in the company’s monthly rig feet status report, was delivered after the company reported in April a net loss of $57.1 million for first-quarter 2015.
Pemex reported a loss of $6.5 billion in the first quarter as crude production slid and international oil prices fell. The company’s oil production has fallen for 10 straight years, and it’s banking on the entrance of foreign producers into the country to reverse the trend.
Unmanned aerial vehicles have been gaining attention in the energy sector as companies tap the small aircraft for visual inspections of equipment, pipelines, flare stacks and platforms.
Services provided included the follow-on design engineering, on-site engineering, integration and testing of systems and components from multiple vendors, field engineering support and management of U.S. regulatory review, the release said.
JIP research focuses on deepwater sampling systems, subsea sensors and subsea clamp-on meters.
On Feb. 18, hydrocarbons were found in the platform’s process module after reports of noise and vibrations. Condensate leaked out at about 8kg/second. There were no personnel in the area.
Before the fighting, Chinese, Malaysian and Indian E&Ps pumped most of the country’s oil. South Sudan’s low-sulfur crude is prized by Japanese buyers for power generation, Bloomberg said.
South Sudanese rebels said they seized producing oil fields in a clash with government forces, Bloomberg said. South Sudan has sub-Saharan Africa’s third-biggest oil reserves, according to BP Plc data.
A plunge in oil has forced companies from Royal Dutch Shell Plc to Chevron Corp. to cut or delay spending on projects that supply super-cooled gas linked to the price of crude.
The two companies will work together to create new workflows that integrate Weatherford’s traditional core analysis and FEI’s digital rock imaging, modeling and interpretation, according to a news release.
Yang Hua was appointed as chairman of board and chairman of nomination committee at China’s CNOOC Ltd. Yang joined CNOOC in 1982 and has over 30 years’ experience in E&P.
Paul Rowsey was appointed nonexecutive chairman of the board at offshore service provider Ensco Plc following Dan Rabun’s retirement.
Rowsey has been a member of the board since 2000.
London-based offshore engineering, construction and service contractor Subsea 7 SA will reduce its global workforce to about 2,500 employees by early 2016, and its global fleet to 11 vessels.
Phil Middleton became group managing director of subsea marine electronic equipment rental company Seatronics Ltd. He previously was deputy managing director, and has 21 years’ oil and gas industry experience.
Daniel W. Rabun, non-executive chairman of Ensco Plc, retired as president, CEO of Ensco in June 2014 after being CEO for more than seven years, president for more than eight.
Next phase of Mexico’s Round One includes an offering of 26 onshore conventional fields in Burgos, Tampico-Misantla and Salinas-Sureste basins. This round’s qualification criteria differ from the shallow-water development round.
Almost all Nigeria’s 184Tcf of gas reserves were found while searching for crude, Bloomberg said. Separate gas asset leases will provide opportunities for gas exploration companies, according to an expert.
The production license is valid until 2035 and covers about 50 sq km. Morskaya Field might hold 157Mboe in gross contingent resources.
LLC Petroresurs owns the field.
Canada’s Environment Minister Leona Aglukkaq announced new greenhouse-gas emissions regulations pledge, Bloomberg said. Oil and gas sector will have new methane regulations to cut emissions by about one-third by 2030.
Erin Energy is operator of the A2 and A5 blocks with 100% interest. The A2 and A5 blocks are located about 48 km (30 miles) offshore and on-trend with the recent FAN-1 and SNE-1 oil discoveries offshore Senegal.