The prolonged downturn lingers as oil and gas companies prepare for what could be another round of capex cuts. But the global oversupply is falling and depleted assets are not being replaced, a speaker at Hart Energy’s Gulf of Mexico Offshore Executive Conference said.
A new cybersecurity issue surrounds data parameterization.
Changing times call for innovative technology and collaboration to lower costs and make deepwater developments more economical.
Dire market conditions may have caused some to consider halting investment offshore, especially given a strong shale presence onshore. But Noble Energy sees opportunity.
The consequences of BOP failure at 20,000 psi and 320 C (608 F) in ultradeep water are driving operators and manufacturers to meet new, more stringent regulations.
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.
A process called forward-osmosis is applied to clean water used in hydraulic fracturing.
Under the agreement, Zenith Energy will provide well planning services, contracting of the rig, procurement of tangible items and the supervision of drilling and completion operations, a news release said.
McDermott’s teams based in Dubai, United Arab Emirates, will do the engineering, procurement and fabrication, while vessels from its global fleet will handle installation.
The Woodside integrated fleet contract will see MMA provide three vessels to support Woodside’s offshore Northwest Shelf, Pluto and AusOil production assets in Australia’s North West region.
The Dec. 15 auction will tender 25 mature onshore fields via so-called license contracts, the third such auction following an oil-sector overhaul finalized last year, Reuters said.
Soco spokesman said company decided not to renew its license at the end of its contract with the Congolese government, Reuters reported. Block V lies partially in Virunga National Park.
For the upstream sector successfully linking diverse datasets are among the keys to unlocking potential benefits of the Internet of Things, a report says.
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.
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.
Using technology to generate, process and analyze data can lead to improved operations.
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.
Delays for the Deepwater Pontus and Deepwater Poseidon vessels have no impact on the duration or dayrate of the original 10-year operating contracts for the drillships, Transocean said in a statement Oct. 26.
The total rig count for the week ended Oct. 23 fell to 594, the least since July 2010. Over the past eight weeks, drillers cut a total of 81 rigs, oil services company Baker Hughes Inc. said in its closely followed report.
Freshwater, not typical slurry, will run through pumps, significantly reducing need for replacement parts and number of pumps needed on frack job, Energy Recovery CEO Joel Gay said.
Petrofac has ended its contract with ZPMC due to concerns with ZPMC’s performance regarding construction of the proprietary design Petrofac JSD 6000 deepwater multipurpose offshore vessel, Petrofac said.
The report comes as the oil and gas industry continues to endure bleak market conditions with low commodity prices that have caused companies to cut spending and reduce drilling activity.
A more complete report of the test results will be published by year-end 2015. Tests results have shown promise for best subsalt discoveries so far, CEO said, Reuters reported.
Norges Bank currently estimates a drop in petroleum investment of 12.5 percent this year compared to last year and a further drop of 10 percent next year.
The takeover, which will involve FOGL's chief executive and chairman joining the Rockhopper board as non-executive directors, will merge the companies' exploration campaigns in the Falkland Islands.
Next year's capex budget would fall by 38% to US$650 million as North Sea Solan Field and other projects reach completion and exploration spending is minimal, Reuters said.
Combined, the company will operate 408,000 HHP, 23 coiled tubing units, 33 snubbing units, 24 cementing units, 23 nitrogen pumping units, 25 fluid pumping units, 86 wireline units, 120 directional kits and more than 825 mud motors.
Bayon has more than 24 years of experience in the oil and gas industry. For the past 20 years, he has worked with BP.
The resignation is on the "best of terms" as Zehnder plans to continue his career outside of the oil and gas industry, according to the release.
Workers at Sindipetro Norte Fluminense, who ignored the FUP oilworkers’ union call to end strike that began Nov. 1, will resume onshore operations the evening of Nov. 20, Reuters reported.
Black Elk Energy Offshore Operations and Grand Isle Shipyards were charged with three counts of involuntary manslaughter, eight charges involving federal safety laws and one Clean Water Act violation, Reuters reported.
Michael J. Stover has worked for the company for almost 30 years, and took his current position in 2013. He joined in 1986 after earning a bachelor’s degree from Pennsylvania State University.
Reuters said Shell was fined 22,500 British pounds. A subsea pipeline leak from Gannet Alpha Field spilled more than 200 tonnes of oil into central North Sea in August 2011.
Canada’s government said several oil companies, including Suncor, endorsed plan. Plan entails phasing out pollution from coal-fired electricity generation by 2030 and limiting emissions from oil sands operations, Reuters said.
The strike, thought to be the most disruptive in 20 years, cost the production of 2.29MMbbl of oil and 48.4MMcm of natural gas, Reuters reported.
The Rossukon series of discoveries are located in the G6/48 license over the Karawake Basin to the north of the G10/48 license, where the KrisEnergy-operated Wassana oil field commenced production in August, KrisEnergy said in a news release.
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