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‘Onshore drilling just has better economics currently [and] cycle times also play a key role in offshore projects versus onshore drilling,’ said Sarp Ozkan, DrillingInfo’s director of energy analysis.
Pipeline constraints are pushing the number of drilled but uncompleted wells higher in the Permian Basin.
Faroe Petroleum has farmed into the U.K. Continental Shelf (UKCS) Agar Plantain exploration and appraisal well close to the U.K./Norwegian median line, operated by Azinor Catalyst Ltd., the company said Aug. 14.
Drillers added 10 oil rigs in the week to Aug. 10, bringing the total count to 869, the highest level since March 2015, Baker Hughes, a GE company (NYSE: BHGE), said in its weekly report.
Oil rose on Aug. 6 after Saudi crude production unexpectedly fell in July and U.S. drilling appeared to slow, although the price is still almost 10% below its 2018 high of more than $80 a bbl.
Drillers cut two oil rigs in the week to Aug. 3, bringing the total count down to 859, Baker Hughes, a GE company, said in its weekly report.
Greater adoption and effective use of enhanced digitalization in the rig inspection and audit market are delivering benefits and reducing risk.
A shift in focus has one North Sea operator getting more out of existing fields.
An automated bit guidance system delivers improvement in directional drilling performance.
Check out the latest activity highlights from around the world.
Drillers added three oil rigs in the week to July 27, bringing the total count to 861, Baker Hughes, a GE company, said in its weekly report.
Shell Exploration and Production Mauritania B.V. on July 23 signed two production sharing contracts with the government of Mauritania for the exploration and potential future production of hydrocarbons in the offshore blocks C-10 and C-19.