Exclusives

Year Of Consolidation Highlights 2018 Oil And Gas Deal Making

Overall, 2018 was the Year of Consolidation as several E&Ps agreed to merge throughout the U.S., including inside and outside the prolific Permian Basin.

A wireless hydrocarbon gas detector gives brownfield asset operators the opportunity to make significant improvements to personnel protection.

A first-of-its-kind cloud-based platform facilitates 24/7 access to offshore well construction and activities.

Digital tools provide new life for aging offshore assets.

A new modular system combines the advantages of a platform with the rig-run benefits of a subsea development.

Completion

The cost of safely removing offshore assets from service has given rise to investment in decommissioning technologies.

Contracts

The agreement for one of Transocean’s two ultra-deepwater drillships currently under construction also includes a five-year drilling contract with Chevron worth $830 million.

Østensjø Rederi has signed a contract to sell Edda Fonn to the Royal New Zealand Navy, the company said Aug. 22.

Earlier this month, Oil Search resumed operations to produce oil at the Agogo production facility, which was knocked out by a major earthquake in Papua New Guinea in February.

Wood has been awarded a contract by Woodside on Aug. 9 to support the execution of concept definition for the proposed Scarborough upstream development, offshore Western Australia.

Subsea 7 has been awarded a contract by Nexen as part of the Buzzard Phase 2 Project, located about 55 km (34 miles) off the northeast coast of Scotland.

Digital

Systems enable predictive maintenance for ESPs.

Digital technologies, including running a virtual startup, look set to save 40 days from the run-up to first gas processing on Equinor’s Aasta Hansteen development.

Systems provide field measurements of drilling riser and wellhead stress in real time.

Digital proponents promote industrywide adoption of digital technologies.

Statoil, Aasta Hansteen, subsea oil and gas

This month E&P takes a step back to the basics with a look at how operators are identifying the best locations to place subsea equipment during the field development phase.

Downhole

A real-time monitoring system enhances operations in tidal conditions.

The National Academy of Engineering (NAE) pointed to the need for designing blowout preventers (BOPS) that operate “under all foreseeable conditions.”

Equipment

Optimized chemical dosing is part of an essential strategy in mitigating subsea flow assurance problems.

Synchronization of systems offers automation capabilities.

High-resolution data, dense spatial sampling and near-offset/near-angle information are key elements for success.

Shell shares Malikai update while Exxon Mobil offers Hebron report.

JIPs, new products and advanced research combine to improve spill prevention and oil recovery.

Operations

DNO's combined ownership and bid acceptances now stands at 43.8%, up from about 43% but still short of a controlling stake in British independent oil and gas company Faroe Petroleum.

Eni agreed to acquire 70% working interest plus operatorship in the Oooguruk oil field in the Beaufort Sea located off Alaska’s North Slope coast from an affiliate of Caelus Energy.

The sale to OMV, which is part of Shell’s three-year program to dispose of $30 billion by the end of 2018, included the company’s Māui, Pohokura and Tank Farm assets in New Zealand.

Hess expects oil output to grow more than 10% per year compounded through 2025, citing higher growth opportunities at its Bakken shale and offshore Guyana projects.

Italian oil company Eni (NYSE: E) must do more to improve safety at its Arctic Goliat oil field, which produces up to 100,000 barrels of crude per day, Norway’s oil safety watchdog said on Dec. 11.

People

In addition to Janet Yang’s appointment as CFO and the departure of COO Thomas Murphy, W&T Offshore also announced the promotions of vice presidents David Bump and William Williford.

As a result, W&T Offshore appointed Janet Yang, currently vice president of corporate and business development of the Houston-based E&P, as acting CFO.

The strike began on July 10 after the Safe union and the Norwegian Shipowners’ Association could not come to an agreement over wages and pension conditions. The industrial action led to the shutdown of one Shell-operated field.

Scott Gutterman joined LLOG Exploration in 1993 and has held several senior positions at the privately-owned E&P focused on deepwater GoM including 12 years as president and CEO.

Business Briefs For Jan. 25