The company is paying attention to demand growth as it works to maximize shareholder value.
The company expects startups of 2016 and 2017 projects to put in place 500,000 barrels per day of new net BP capacity by year-end 2017.
The company plans to produce a new hydraulic fracturing system and a ‘land drilling system of the future.’
With day and utilization rates through the floor, the rig market is in need of more than just sleight of hand to avoid players checking out.
A Silicon Valley-based deep learning, artificial intelligence company is using artificial neural networks to help find oil and gas using geoseismic data.
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.
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.
Through a five-year contract, Wood Group (WGPSN) will provide engineering, procurement and construction management services to eight facilities offshore Azerbaijan on projects operated by BP Plc (NYSE: BP), the company said April 28.
Project management and engineering work will commence immediately from Subsea 7's offices in Aberdeen, with offshore activities planned for first-quarter 2017, according to the release.
OPEC member Algeria seeks more foreign investors for oil and gas production, stagnant for years because of reliance on mature fields and lack of investment in new production, Reuters said.
In April, the company announced a two year contract with TAQA, extending its provision of engineering, construction and maintenance services to five UKCS offshore assets.
The agreement covers early-phase studies, pre-engineering (FEED) work, verifications and follow-on engineering for Lundin Norway.
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."
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.
For the upstream sector successfully linking diverse datasets are among the keys to unlocking potential benefits of the Internet of Things, a report says.
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
For the week ending April 15, the North American count dropped to 480, compared to the 1,034 rigs that were pumping about a year ago.
The use of double shear rams in the BOP stack is a baseline industry standard that is now one of the rules.
DOF Rederi AS has signed agreements with Nexen Petroleum UK and Maersk Oil North Sea UK Ltd. for platform supply vessels, according to a news release.
Proserv said it will supply five wellhead hydraulic power units (HPUs) for Statoil’s Gullfaks oil and gas field which is undergoing an extensive topside upgrade program. The field is located in the in the Norwegian sector of the North Sea.
A study provides Norway with insight on a development concept the region has not used as much as others across the world.
National Oilwell had 50,197 employees as of Dec. 31. Based on this number, the company cut about 12% of its workforce in the first quarter.
The Houston-based company cut its forecast for capex in 2016 to $5.7 billion from $6.4 billion, just two months after reducing it and slashing its dividend by 25%.
Tullow will have to reduce annual production forecast due to an ongoing technical issue that shut its flagship Jubilee oil field in Ghana, which will resume production soon, Reuters reported.
The Scottish company, which specializes in pumps and valves used in drilling rigs, said a 20% reduction in U.S. land rig count in the past two months had lowered demand for its products.
Developing better subsea compression systems at lower costs and in less time will be the initial focus area, Aker Solutions said in a statement.
"We take notice of the numbers from this year's report and work systematically to reduce the risk and number of critical events," the Norwegian Oil and Gas Association said in a statement.
The CEO of accommodation rig firm Prosafe has stepped down and the company is looking at alternatives to improve its financial situation, Prosafe said on April 27, according to Reuters.
Lewis is replacing long-serving CEO Samir Brikho who left unexpectedly in January. His main priority will be to reach the company's target to halve debt before June 2017 and to boost investor confidence.
As part of 10,300 job cuts it has already announced, 2,800 will come from integration of BG and 7,500 from Shell’s existing staff and direct contractor base, Reuters reported.
The Georges Bank Protection Act, which received all-party support in the House of Commons, entered into force on February 27 and provides the ministers with new authorities to prohibit oil and gas activities in the area.
In February, a source involved in talks between the state and oil industry executives told Reuters Rio de Janeiro planned to scrap the tax to help protect the local economy.
In developing the competency standards with offshore pipeline engineers, APGA worked with the Society for Underwater Technology’s Perth, Australia, branch, which is producing a set of competency standards for all subsea engineering.
Egypt plans to launch a new oil exploration round next week, offering 11 blocks in the Western desert and the Gulf of Suez, Petroleum Minister Tarek al-Molla said April 19.
In a meeting that was webcast, commissioners of the regulator known as the CNH voted unanimously to allow companies not involved in the day-to-day operations of a deepwater oil field to hold a larger stake than the project operator. The previous rule required that the operator hold the largest stake.
With the new rules, the administration is hoping to prevent the kind of explosion that happened six years ago on a BP rig in the Gulf of Mexico, the official said.