Technology Exclusives

Cox Oil To Acquire Energy XXI Gulf Coast For $322 Million

Energy XXI said it will terminate its previously announced partnership with Orinoco Natural Resources as a result of the Cox Oil transaction.

truck driver shortage, Permian Basin, U.S. shale, oilfield trucking, shale oil and gas, Permian oil production

Regulatory and recruitment headwinds are hitting oilfield trucking in a time of rising demand.

digital technology, oil and gas digital technology, Baker Hughes, GE, UNIFY 2018, Google Cloud, Cognite, Equinor, Statoil, BP, Lorenzo Simonelli

Bringing digital technologies such as artificial intelligence and digital twin models to the oil patch has moved higher on the agendas of energy companies.

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In this first episode of the DUG Technology podcast, we dive deep into the opportunities big data presents to shale players.

Mexico oil and gas, Mexico energy reform

How effective Mexican regulators are at managing concerns and informing stakeholders will impact the pace of the country’s energy reformation journey.

Technology Completion

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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

The coatings project is expected to last approximately six months.

Subsea 7 said on June 15 it has been awarded a sizeable contract by Shell (NYSE: RDS.A) as part of the deepwater Vito development, approximately 150 miles (241 km) south of New Orleans, in the U.S. Gulf of Mexico.

Under the TechnipFMC/DOF JV agreement, TechnipFMC will manage flexible pipelay, and DOF will be responsible for marine operations.

Offshore work is scheduled to commence in the second half of 2019.

Shareholders in Israel’s Delek Drilling will vote next month on whether to approve a $200 million investment that will allow the company to export gas to Egypt via a subsea pipeline.

Technology Digital

IBM, Wood, John Sullivan, oil and gas digital technology, blockchain, Internet of Things, artificial intelligence

John Sullivan, industrial sector lead and executive partner at IBM Global Business Services, speaks about how the sector is working with disruptive technology to improve operational efficiency.

The first step in winning the cyber threat war is being prepared.

An industry survey shows increasing use of digitalization to ensure smoother operations.

Paradigm, Emerson, E&P software, digital oil field, Pat Babka, oil and gas workflow, Roxar Software Solutions,  Emerson Automation Solutions

With the acquisition of Paradigm, which was completed in late 2017, Emerson believes it can meet the market’s growing demand for an independent, global provider of E&P software solutions.

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

Technology Downhole

Drillpipe incorporates coaxial cable to enable data-driven decisions.

The need for more data processing capability and communication flexibility has led to the development of hybrid technology to do more for less.

Intervention system revives well production at reduced risks through data-driven decisions.

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

New telemetry systems are opening the path to full life-of-well pressure and fluid management.

Technology Equipment

A new multicomponent resin offers operators an alternative method for well barrier creation and repair.

High-resolution data, dense spatial sampling and near-offset/near-angle information are key elements for success.

Shell shares Malikai update while Exxon Mobil offers Hebron report.

An industry partnership responds to changing industry needs with new SSSV design.

Advances in sliding sleeve technology drive efficiency and keep pace with growing completion program requirements.

Technology Operations

Royal Dutch Shell has introduced gas to its 490-meter long Prelude floating liquefied natural gas (FLNG) unit as part of the cooling process before start-up, a spokeswoman told Reuters on June 13.

Equinor’s (NYSE: EQNR) plan for the development and operation of the Johan Castberg field in the Barents Sea was approved by the Norwegian Parliament on June 11.

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.

The combined company will operate under the Akita name and have a fleet of 44 high-spec drilling rigs with operations in several major resource basins in the U.S. and Canada.

A U.S. judge has ordered two former finance executives at Penn West Petroleum, now known as Obsidian Energy, to face regulatory charges that they helped engineer a multi-year accounting fraud.

Technology People

Frank’s International N.V. (NYSE:FI) and its Board of Supervisory Directors on June 13 announced several key senior management promotions, hires and related personnel changes.

Additionally, James Trimble, who recently led Stone Energy as interim CEO and president through the company’s merger with Talos Energy, was appointed as chairman of Crestone’s board.

Michael J. Dolan, senior vice president of Exxon Mobil, plans to retire effective Aug. 1 after 38 years of service, and Malcolm Farrant, vice president of human resources, has decided to retire after 35 years of service.

Robert S. Shaw Jr., CFO of Ranger Energy Services Inc. (NYSE:RNGR), has resigned effective immediately to pursue other opportunities, the company said June 5.

Khalid al-Dabbagh was named acting service line head for finance, strategy and development at the world’s largest oil producer, taking over on an interim basis from Abdallah al-Saadan, who was senior vice president of the department, the sources said.

Technology Regulations

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Lawyers for major oil companies on June 13 urged a federal judge to throw out a lawsuit filed by New York City seeking to hold them financially liable for damages caused by global warming.

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At KPMG’s annual Global Energy Conference, confidence in the global economy abound, but political uncertainty and Asia’s growing energy demand shapes the role of the U.S. energy on the world stage.

La Rosa’s appointment comes after a tense showdown between foreign oil companies and the government in recent months as Venezuela’s political and economic meltdown deepened.

The OPEC council responded negatively to Iran’s plea to support it against new U.S. sanctions, a source familiar with the matter told Reuters.

Long-awaited amendments to Algeria’s energy law are expected to be finalized by early next year, Energy Minister Mustapha Guitouni said on June 7.