Technology Exclusives

schlumberger, Keane, private equity, A&D, oilfield services, pressure pumping

Pressure pumpers are seeing bids cluster, a signal that concessions for E&Ps may have bottomed and that some oilfield service companies may start to fall by the wayside.

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.

Iona has become the first casualty of 2016, but many more North Sea companies are under threat from the plummeting oil price.

Chevron, M&A, A&D, asset, oil, land, sale, John Watson, Gulf of Mexico, Permian

Although M&A and A&D activity has been down lately, some believe change is coming.

John Paisie, Stratas Advisors

At Hart Energy’s Viewpoint Executive Energy Club, Stratas Advisors directors gave industry executives a wide-ranging view and key to competing in the upcoming year.

Technology Completion

CnF, Flotek Industries, FracMax, MHA Petroleum Consultants, lawsuit, hydraulic fracturing, Denver Julesburg, DJ, report, investigation, SEC, lawsuit

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. 

Range Resources, technology, proppant, Cowen, energy, Joe Frantz Jr., University of Texas, production, oil,

Technology advances have continued to lead to production and efficiency gains in recent years for Range Resources. The company is now working with a Texas university on a new logging tool to be built by Gearhart.

Refracking, shale, horizontal drilling, IHS, Bloomberg

Refracking has been met with enthusiasm—especially when it works—and skepticism, but in order to move forward, the industry needs a large-scale refracking program and more investment IHS says.

Understanding drainage volume and improved permeability of stimulated rock is essential to forecasting production, according to MicroSeismic Inc.

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.

Technology Contracts

Wood Group PSN will deliver operations and maintenance services to the Alba Northern platform, Alba floating storage unit, Captain FPSO vessel and Captain wellhead protector platform, under the one-year contract that extends an agreement in place since 2010, a news release said.

The flowline system will be fabricated at the group’s spoolbase in Mobile, Ala. The offshore installation is scheduled for second-half 2016 by Technip’s Deep Blue flagship deepwater pipelay vessel. 

Oil & Gas Investment Fund SAS currently holds a 75% interest in a reconnaissance permit over the Meridja area and Morocco’s Office National des Hydrocarbures des Mines holds remaining 25%. 

The 10-year collaborative arrangement, which is for GE’s engageDrilling Services, will include GE purchasing the BOP systems aboard Diamond Offshore’s four drillships in the U.S. Gulf of Mexico for a total of $210 million, according to a news release.

Greece has made several fruitless attempts over the last 50 years to find big oil and gas reserves, and has increased those efforts due to its debt crisis, Reuters reported.

Technology Digital

integrated operations, ConocoPhillips, digital, oilfield, oil, gas, production, Andrew Lafleur

With integrated operations, everyone must understand the company’s overall priorities in order to set agendas in each group, working to get to the same point, according to an engineering coordinator for a major E&P company. Technology and breaking down silos are key.

Internet of Things, data, Deloitte Center for Energy Solutions, digital, oil, gas

For the upstream sector successfully linking diverse datasets are among the keys to unlocking potential benefits of the Internet of Things, a report says.

SAS, Internet of Things, oil, gas, analytics, data

For the oil and gas sector, this could mean making drilling adjustments on the spot. It could also mean collecting data from various sources, analyzing it and using that knowledge to grow production and revenue.

cyber security, oil, gas, threat, PwC, Red Tiger Security, SEC, attack, hack

For the oil and gas sector the threat remains, but the methods are the same, experts say.

The industry can benefit quickly by approaching Big Data from the place of maximizing value by minimizing complexity.

Technology Downhole

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

Vorpal's Drill2Frac helps optimize fracturing operations through the optimal placement of perforation clusters. Enventure’s expandable ESeal Refrac Liner provides mechanical zonal isolation of existing perforations.

Technology Equipment

Saudi Aramco is now operating around 212 oil and gas rigs; which is a level it has kept steady since 2015. That number does not include water rigs.

Bureau of Safety and Environmental Enforcement recommended that drilling operators verify that components meet manufacturers’ specified metallurgical properties, and urged them to follow installation and maintenance procedures, Reuters reported. 

Both orders are part of PetroChina's furnace procurement program that BHD bid on. Aggregate order value under the program now totals about US$0.8 million, or more than 5.3 million renminbi.

Restructuring includes closing two rolling mills in France, one threading line in Germany and a heat treatment line in Scotland, leading to about 1,000 additional job losses, Reuters reported.

Aquatec Group provides subsea leak detection sensors including long-range fluorometers, directional acoustic sensor and differential temperature detectors. These will be available at Forum’s global locations.

Technology Operations

The fire occurred on the offshore Abkatun A Permanente processing platform in Mexico's oil-rich Bay of Campeche. Casualties  include two Pemex workers and one employee of Cotemar.

A group’s analysis showed that 3.4 MMbbl/d of oil pumped now, 3.5 percent of worldwide production, is “cash negative” at Brent prices of $35 per barrel.

Exxon Mobil, ExxonMobil, Jeff Woodbury, profit, earnings, fourth, quarter, production, oil, gas

The company reported a 58% drop in earnings for fourth-quarter 2015 over the same quarter last year, down to $2.8 billion.

With about 210 small pools already discovered but not yet developed, reducing costs by half would make the development of those 150 fields economically viable, according to a speaker at Subsea Expo.

The company reported a fourth-quarter adjusted operating profit of 15.2 billion crowns (US $1.78 billion), down 43 percent from a year earlier but better than the 13.9 billion ($1.6 billion) expected by analysts polled by Reuters.

Technology People

Energy executives must cut spending to stay financially afloat while preserving the production infrastructure and capacity that will allow them to compete and grow when the market recovers, Reuters said.

Pemex’s new boss, Jose Antonio Gonzalez, has been the director of Mexico’s Social Security Institute since 2012. Mikel Arriola, the head of health regulator Cofepris, will replace him, Pena Nieto said.

Philippe Baptiste has been appointed senior vice president of scientific development at Total, effective Feb. 1, the company said in a news release.

Petroci is a small oil and gas producer, partnering with E&P companies and managing a logistics base serving offshore blocks, Reuters said. Ivory Coast is French-speaking West Africa’s largest economy.

With more than 30 years of experience in the oil and gas service sector, David Gallagher has served with Schlumberger, CARBO Ceramics and Baker Hughes in engineering, operations, product development and executive management roles. 

Technology Regulations

Local opposition to drilling on environmental grounds has slowed development and prompted the introduction of a 12-mile ban on activities within Italy's coastlines and protected areas, Reuters said.

"The proposed acquisition would raise no competition concerns, given the very limited overlaps between the companies' activities and the modest increment in market shares brought about by the transaction," the European Commission said.

Twenty-nine companies with exploratory contracts and three with extractive rights have declared force majeure as the drop in oil price has sapped profit and financing in recent years, said Rafael Zoeger, the president of Perupetro.

Federal judge Sergio Moro said Jorge Zelada excessively awarded Vantage Drilling a 2009 contract for drillship Titanium Explorer in exchange for bribes stashed in undeclared Monaco and Switzerland accounts, Reuters reported.

Allegedly, it was misrepresented that Cobalt had several oil-focused wells in Angola including its Lontra and Loenga wells. Lontra was primarily gas-based and Loenga contained neither oil nor gas.