Technology Exclusives

Upstream M&A Activity Surges By 250% In Record Quarter

BP’s $10.5 billion acquisition of a portion of BHP’s U.S. onshore portfolio highlighted M&A activity in the U.S. during the third quarter, a report by Drillinginfo says.

A nonprofit organization offers documentaries and educational outreach programs for the next generation.

Technologies such as carbon capture, utilization and storage are needed, OPEC secretary general and others say.

Technology revolution will reveal a more effective, less costly option for the energy sector, but to the detriment of humans.

Permian, RBN Energy, PermiCon, Stephanie Reed, Parsley Energy, Kevin Lafferty, Devon Energy, Dan Westcott, DUCs, takeaway capacity, decline curves, well interference, shale

Decline curves, well interference, takeaway capacity and drilled but uncompleted wells were among the topics discussed by a group of panelists.

Technology Completion

dug-rockies-big-data-technology

Big data is likely to have the biggest impact on completions including the use of high-resolution data.

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

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

A system has been developed to deliver cost savings by removing the need for cutting and pulling a casing when removing annular fluid.

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

Technology Contracts

Royal Boskalis Westminster NV said Oct. 4 it has been awarded the Tyra Redevelopment Subsea Installation Phase II contract by Total E&P Denmark (NYSE: TOT).

The oil services companies are expected to compete in the tender by promising to boost production from the Potiguar Basin’s waning Canto do Amaro Field in northern Brazil, where production began in 1986, and offering a bigger share of output to Petrobras, sources said in June.

Subsea 7 has been awarded a contract by Fieldwood Energy to Subsea Integration Alliance on Oct. 2, a global partnership between Subsea 7 and OneSubsea, a Schlumberger company.

Block 29/11 is located in Pearl River Mouth Basin of the South China Sea. The block covers a total area of 1,808 sq km (698 sq miles) with a water depth of 300 m to 600 m (984 ft to 1,968 ft).

The job entails drilling six wells total for the Tordis/Vigdis, Visund, Bauge and Snorre licenses on the Norwegian Continental Shelf, starting in summer 2019.

Technology Digital

Greater adoption and effective use of enhanced digitalization in the rig inspection and audit market are delivering benefits and reducing risk.

The digital oil field is not a technology issue; it’s a business model issue.

Market forces mandate better evidence-based tools to drive decisions in oilfield services pumping operations.

There is an impact on data infrastructure when using real-time analytics.

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.

Technology Downhole

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.

A cost-effective microbial control program can offset negative impacts on affected production.

Technology Equipment

Drillers cut two oil rigs in the week to Oct. 5, bringing the total count down to 861, Baker Hughes, a GE company (NYSE: BHGE), said in its weekly report. This is the longest streak of weekly cuts since October 2017.

Expanding the toolbox provides the best technologies for the job.

Drillers added seven oil rigs in the week to Sept. 14, the biggest weekly increase in a month, bringing the total count to 867, Baker Hughes, a GE company, said in its weekly report.

Ocean Aero, Submaran, boat, vessel, Eric Patten, Energy Innovation Capital, Lockheed Martin, technology, oil and gas, autonomous vehicle, wind, solar

Ocean Aero’s signature small autonomous vessel features a retractable wing sail for submerging and solar rechargeable lithium batteries.

Drillers cut two oil rigs in the week to Sept. 7, bringing the total count down to 860, Baker Hughes, a GE company, said in its weekly report.

Technology Operations

Shell agreed to sell its upstream interests in Denmark in the Danish Underground Consortium to Noreco for $1.9 billion as part of the oil major’s larger divestment program.

At a massive natural gas field in northern British Columbia, Royal Dutch Shell Plc (NYSE: RDS.A) is using new technologies and processes to cut emissions to address public and environmental group concerns that Canada’s nascent LNG export industry could be a climate time bomb.

Drillers have been predicting an upturn for more than a year only to disappoint but debt ratings firm Moody’s Investors Services said last month that it believed 2018 could mark the low point for industry earnings.

Environmental groups strongly oppose the practice of hydraulic fracturing, or fracking, which involves extracting gas from rocks by breaking them up with water and chemicals at high pressure.

The System 2E pipeline is a key network that supplies imported gasoline and output from the Port Harcourt refineries to much of the southeast and north of the country.

Technology People

Chris Newton has been appointed chairman of Tap Oil, effective immediately, the company said Oct. 15.

The company’s CFO, Alexander Nickolatos, has been promoted to serve as interim president and CEO of the company and has also been appointed to the company’s board of directors.

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

The board of directors of EMGS ASA said Sept. 28 that Christiaan Vermeijden has decided to resign from his position as CEO due to personal reasons.

David Dell’Osso joins Permian-focused Parsley from Southwestern Energy, where he most recently served as the senior vice president and general manager of its Northeast Appalachia division.

Technology Regulations

Interior Secretary Ryan Zinke has hinted to at least six coastal states that he will keep their waters out of a looming plan to expand U.S. offshore drilling, telling some they lack enough oil to be included anyway.

At his first meeting with foreign oil majors, Mexico's leftist president-elect pushed the companies to prove themselves by quickly pumping oil from recent finds, sources said, but gave no sign of offering up new fields to reverse dwindling output.

microsatellite_natural_gas_methane

Low-cost microsatellites may hold the answer for methane emissions management.

Japan's Kyushu Electric Power Co said on Oct. 15 it restricted third-party solar power supplies over the weekend, marking the first time a Japanese utility has curbed the use of renewable energy to avoid a sudden blackout.

Britain has asked its climate change experts to advise on whether it should set a date to meet a net zero emissions target, the government said on Oct. 15.