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Active rigs in the Permian declined by two this week to 473—their lowest level in five weeks—as pipelines out of the reach are expected to force smaller producers to slow or shut-in production
Britain’s biggest labor union is balloting rig workers at three of Total’s (NYSE: TOT) North Sea oil platforms over a potential strike due to the company’s refusal to reduce the number of unpaid working days, the union said on June 20.
The oil rig count in the week to June 15 rose to 863, the highest level since March 2015, Baker Hughes, a GE company, said in its weekly report.
Saudi Energy Minister Khalid al-Falih expects a "reasonable and moderate" agreement next week when OPEC and non-OPEC oil-producing nations meet in Vienna, he told reporters in Moscow on June 14.
Technology transfer programs can fill the R&D need for small to midsize companies.
Top Chinese oil and gas firm PetroChina (NYSE: PTR) struck high flow rates in a deep shale gas well in Chongqing in southwest China, the Xinhua News Agency reported on June 13.
The projects, known as Liza Phase 1, include the conversion of an oil tanker into a FPSO vessel, which would have a production capacity of 120,000 bbl/d of oil.
The drilling of the Moftinu – 1007 well has concluded achieving a total planned depth of 1,463 m (4,799 ft). The well was drilled according to schedule and approximately 20% below budget.
Iran is pursuing a plan to increase its oil output by 460 MMbbl within three years, oil minister Bijan Zanganeh said on June 9, according to SHANA, the news site of the Iranian oil ministry.
Drillers added one oil rig in the week to June 8, bringing the total count to 862.
A partnership to collaborate on a digital rig solution that enables data-driven operational efficiency by using data analytics could transform the way drillers operate.
Tap Oil Ltd. on June 4 provided an update on drilling of the Manora-8ST1 appraisal well at the Manora oil field in the G1/48 concession in the Northern Gulf of Thailand (Tap 30% interest).