Technology World Wide Exclusives

Moody's Investors Service, NOC, spending, oil and gas investment, Eni, dual exploration model

Many NOCs will continue to spend cautiously as improving oil prices free up cash for more investment, higher production and growing operations outside their borders, a report said.

Well intervention work to increase production rates offers a significant opportunity to oil companies. Some get it more than others.

Occidental Petroleum, Oxy, Permian, first-quarter earnings

The company grew its Permian Resources production by 37% year-on-year to 177,000 boe. Enhancing subsurface characterization remains key.

Schlumberger, drilling technology

Schlumberger roller cone bit spiral tungsten carbide insert configuration increases bottomhole coverage and reduces tracking to boost ROP.

EOG Resources, first-quarter earnings, profit, oil and gas, Bill Thomas, Billy Helms

Revenue for the independent E&P—which has assets in the Eagle Ford, Austin Chalk, Delaware, Woodford and Rockies—jumped about 41% to $3.68 billion.

Completion World Wide

New completion software provides operators with more valuable, faster business decisions in a digital world.

As digital innovations take hold, the oil and gas industry is undergoing an evolution of its workforce.

Schlumberger, Paal Kibsgaard, oil, drilling, technology, hydraulic fracturing, investment

The company plans to produce a new hydraulic fracturing system and a ‘land drilling system of the future.’

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

Change is inevitable, but good technology helps companies stay abreast of the turmoil and risk that go with today’s exploration and production environments.

Contracts World Wide

Ophir Plc has entered into a farm-out agreement with Kosmos Energy (NYSE: KOS) covering the EG-24 exploration license in Equatorial Guinea, the company said on May 14.

Saudi Aramco’s Nasser downplays emergence of alternative fuel vehicles.

Premier announce April 30 that it has entered into a sale and purchase agreement to sell its interests in the Babbage Area to Verus Petroleum SNS Ltd. Premier announce April 30 that it has entered into a sale and purchase agreement to sell its interests in the Babbage Area to Verus Petroleum SNS Ltd.

Proserv has secured a contract worth over $5.5 million with Repsol to upgrade and build new subsea production control equipment for the Yme field redevelopment in the Norwegian North Sea.

Fourteen companies have expressed interest in oil and natural gas exploration and development contracts to be auctioned by Iraq on April 25, the oil ministry in Baghdad said on April 14.

Digital World Wide

Implementing the cloud for hydraulic fracturing must include all the stakeholders.

A new optimization platform leverages digital technologies to elevate production performance.

Aker BP, Karl Johnny Hersvik, Data Liberation Front, oil and gas data, oil and gas technology, ABB

Giving vendors access to performance data could bring operators significant benefits while ushering new business models into the supply chain.

Equipping problem solvers for tomorrow’s challenges.

New software will help operators see significant returns in 2018.

Downhole World Wide

Smart wireline tools help improve downhole performance with real-time data.

Permanent spacers help fine-tune pump operations while enhancing safety.

The new agreement enhances policies and procedures established through the Global Industry Response Group and adopted by the Subsea Well Response Project consortium, the press release said.

Combining real-time downhole intelligence, coiled tubing strength and flexibility, and continuous electrical power benefits fishing, milling, cleanouts, perforating and other operations.

Manufacturing and engineering firms see the first green shoots of activity improvement as the industry retools for the future.

Equipment World Wide

Drilling efficiencies are maximized with integrated MPD systems.

Kraken Robotics Inc. said on Oct. 26 it entered into a partnership with Avitas Systems, a GE Venture, to advance robotic inspections for the oil and gas, offshore renewable energy and shipping industries.

Operations World Wide

While ConocoPhillips started seizing assets this month, CEO Ryan Lance is telegraphing that the company intends to escalate its campaign against PDVSA across the globe.

Harbour, which proposed a $10.4 billion takeover in April, is close to completing a review of Santos' books ahead of deciding whether to make a binding offer.

A second OPEC source said that, while the need to add extra supply was being considered, the safest thing for the group to do for now was to sit tight and monitor the situation.

Total signed a deal with Tehran in July 2017 to develop phase 11 of Iran's South Pars Field with an initial investment of $1 billion.

Austrian oil company OMV’s adjusted operating profit came in slightly above expectations in the first-quarter, helped by a new stake in a Russian gas field and higher output in Libya lifting sales.

People World Wide

PESA has elected five industry leaders to its board of directors and made nine reappointments.

Check out the latest new hires, promotions and other company news.

Oil prices fell on April 20 after President Donald Trump criticized OPEC and said oil prices were artificially high, but they were still set for a weekly gain.

Richard Herbert, formerly of BP, will replace Barry Larson as the CEO of Canada's Frontera Energy.

Regulations World Wide

U.S. light crude was down 10 cents at $71.26, having touched a 3-1/2 year high of $71.89 on May 10. Many analysts expect oil prices to rise as Iran’s exports fall.

The suit is the latest in a recent series of legal filings seeking to press the cash-strapped oil firm and its refining subsidiary for payment, with actions in recent days by U.S. oil producer ConocoPhillips.

Crude prices pared losses that earlier on May 8 ran as deep as 4% after U.S. President Donald Trump said the United States will withdraw from the Iran nuclear deal, while the dollar edged off fresh 2018 highs.

U.S. President Donald Trump has threatened to pull out of the Iran deal by not extending sanctions waivers when they expire on May 12 unless European signatories of the accord fix what he calls its “flaws”.

Oil prices rose on May 4 but stayed below recent highs as global supplies remained tight and the market awaited news from Washington on possible new U.S. sanctions against Iran.