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The oilfield service company is using digital technologies such as the Internet of Things, cloud computing and advanced analytics in an effort to improve production efficiency in the oil patch.
The Irving, Texas-headquartered company reported Nov. 2 third-quarter earnings increased 57% to $6.24 billion, compared with $3.97 billion a year earlier.
Operators and service companies are refining Big Data for even greater value.
AI and data advances are streamlining the lease acquisition process.
Application-specific software supports well design, engineering teams and their processes.
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.
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.
Sapura Energy Berhad on June 21 scored another nine new contracts valued at approximately RM1.8 billion.
The contracts cover integrated well services, such as directional drilling, drill bits, fluids and cementing, for an initial four years, and can be extended for up to 10 years.
Ophir Energy is replacing CEO Nicholas Cooper with immediate effect, the company announced on May 18, amid delays in funding a major gas project in Equatorial Guinea that have slashed its share value in the past year.
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.
The oil and gas industry is evolving to manage the pace of change.
E&P data consortiums are the key to unlocking value with analytics.
Ensuring the wildcatter spirit lives on in the next generation requires an ‘all of the above’ approach.
Greater adoption and effective use of enhanced digitalization in the rig inspection and audit market are delivering benefits and reducing risk.
A nonprofit organization offers documentaries and educational outreach programs for the next generation.
A new design and changes in metallurgy shift wear from expensive pump fluid ends to sacrificial consumable components.
A new wireless downhole tool unlocks the potential for significant cost reductions.
Embracing digitalization can help operators maintain a competitive advantage.
A new cementing system enhances barrier integrity.
Slimhole completion systems help to refracture existing wells and boost production.
Check out the latest products and services for the upstream oil and gas industry.
A new sliding sleeve fracturing tool addresses limitations of single-point entry systems.
Improvements began with building reliability and performance into pressure pumping systems.
Advances in sliding sleeve technology drive efficiency and keep pace with growing completion program requirements.
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.
Shares of U.S. oilfield services provider Weatherford International fell sharply after the company's free cash flow and fourth-quarter guidance fell below analysts' expectations.
Annual development spending by upstream oil and gas companies needs to rise to about $600 billion through the next decade, analysts say.
Production from the company’s unconventional assets in the Eagle Ford, Bakken and Delaware Basin jumped in the third quarter to 313,000 barrels of oil equivalent per day.
OPEC and non-OPEC ministerial panel signaled a possible need for more production cuts as global oil inventories rise, in a statement that may further sour relations with President Donald Trump.
ConocoPhillips received $345 million in cash and commodities last quarter from Venezuelan state oil firm PDVSA as part of a first installment under a settlement to satisfy a $2 billion arbitration award.
Check out the latest new hires, promotions and other company news.
McDermott International, Inc. appointed Samik Mukherjee as the company’s executive vice president and COO, effective July 3.
Energy revolution and politics took center stage during a forum in Houston this week.
OPEC is struggling to add barrels to the market after agreeing in June to increase output, an internal document seen by Reuters showed, as an increase in Saudi Arabia was offset by declines in Iran, Venezuela and Angola.
Low-cost microsatellites may hold the answer for methane emissions management.
The Trump administration is actively considering waivers on sanctions it will reimpose next month for countries that are reducing their imports of Iranian oil, a U.S. government official said on Oct. 5.
Consorcio Petrolero 5M del Golfo, a small energy firm operating in Mexico, has returned one-third of an onshore area won in a 2015 auction, the country's oil regulator said on Sept. 13, 2018, citing studies showing limited potential for production.