Technology Exclusives

Scott Hamilton, Baker Hughes, GE, BHGE, subsea production systems, costs, capex

Hart Energy caught up with BHGE’s Scott Hamilton during Subsea Expo to delve deeper into the company’s plans.

Hilcorp Founder Jeffrey Hildebrand Steps Aside As CEO

Hildebrand will remain Hilcorp’s executive chairman and continue to be heavily involved in the company’s operations, a spokesman said.

Colombia oil and gas, GeoPark, James Park, South America oil and gas

For 2018, GeoPark is focused on Colombia's Llanos 34 Block where it plans to invest about $90 million.

Saudi Aramco’s IPO: Will It Happen?

Recent windfalls generated through taxes and the kingdom’s “anti-corruption purge” has triggered further speculation about the future of Saudi Aramco’s IPO.

At the recent NAPE Global Business Conference, panelists from Hess and Akin Gump gave insight on what plays into developing resources in the Lower 48 or international deepwater.

Technology Completion

patent, Deloitte, Center for Energy Solutions, hydraulic fracturing, oil, gas

Proppant tracking, flowback prevention and nanoparticles are among the areas of focus, according to a study released by Deloitte.

shale, technology, KCA, oil, ConocoPhillips, Halliburton, drilling, well, proppant

Recent trends and new technology indicate operators and service companies are thinking outside of the box and experimenting with different methods and techniques to grow production.

William D. Von Gonten Jr., W.D. Von Gonten & Co., DUG, Eagle Ford, shale, fracture, prop, completion, model

Better insight, including on calcite and ash bed layers, could lead to better frack designs, greater stimulation and ultimately, more production.

The technology uses an industry standard downhole data logger to collect data from which measurements are made and fracture locations pinpointed.

Schlumberger, Paal Kibsgaard, oil, drilling, technology, hydraulic fracturing, investment

The company plans to produce a new hydraulic fracturing system and a ‘land drilling system of the future.’

Technology Contracts

The project is located offshore Vietnam and operated by Repsol with the participation of Mubadala, PVEP and PetroVietnam.

Sparrows Group said Feb. 21 it has been re-awarded two five-year contracts with Abu Dhabi’s TAQA to deliver crane operations, maintenance, rigging loft, and fixed lifting inspection services to its U.K. Continental Shelf assets.

A 2,000-ton process module to be installed on Leviathan Field to recover MEG used for hydrate inhibition.

Anadarko Petroleum Corp. (NYSE: APC) said on Feb. 20 that Mozambique LNG1 Co. Pte. Ltd. has entered into a long-term LNG sale and purchase agreement with Électricité de France SA (EDF).

Wood Plc has been awarded the brownfield engineering services contract for the INPEX-operated Ichthys offshore facilities, the company said on Feb. 20.

Technology Digital

BHGE, Binu Mathew, artificial intelligence, oil and gas

Technologies must be domain specific with end-to-end workflows so they can be put to use, according to Binu Mathew, senior vice president and global head of digital products for ‎Baker Hughes, a GE company.

Statoil, Aasta Hansteen, subsea oil and gas

This month E&P takes a step back to the basics with a look at how operators are identifying the best locations to place subsea equipment during the field development phase. 

Four critical automation areas are paving the road for longer-term AI.

Intuitive analysis helps prevent slow or inaccurate predictions.

Predicting equipment downtime through IoT solutions can save operators time and money.

Technology Downhole

The new agreement enhances policies and procedures established through the Global Industry Response Group and adopted by the Subsea Well Response Project consortium, the press release said.

Halliburton said it collaborated with customers to design the Dash Large Bore, which can isolate the lower landing string in six seconds or less, disconnect from the lower landing string in ten seconds or less, and provide downhole data.

Andrew F. J. Gould and James W. (Bill) Stewart were appointed to the board of directors at BJ Services, and Evelyn M. Angelle joined as executive vice president and CFO, the company said Jan. 19.

Combining real-time downhole intelligence, coiled tubing strength and flexibility, and continuous electrical power benefits fishing, milling, cleanouts, perforating and other operations.

David G. Gallagher said that trademarked Gilsonite is a naturally occurring asphaltite that binds and strengthens as an additive for drilling fluids and cementing.

Technology Equipment

Drillers added seven oil rigs in the week to Feb. 16, bringing the total count up to 798, the highest level since April 2015, Baker Hughes, a GE company, said in its weekly report.

The U.S. rig count, an early indicator of future output, is much higher than a year ago when 591 rigs were active as energy companies have continued to boost spending since mid-2016 when crude prices began recovering from a two-year crash.

Operators find subsea success by using existing infrastructure off the Norwegian coast.

Before deploying subsea development strategies, operators need to know where their equipment is going.

The new ‘normal’ is a catalyst for change.

Technology Operations

Libya’s El Feel oilfield was shut early on Feb. 23 due to the presence of armed groups in the area, a source familiar with the matter told Reuters on Feb. 23.

Apache forecast 2018 oil production that was below analyst estimate sending its stock down more than 5%  despite the U.S. shale oil producer's better-than-expected quarterly profit.

Cyprus said Feb. 21 it would press ahead with oil and gas exploration, signaling resolve in a standoff with Turkey over access to potential energy riches after Ankara extended military exercises in the eastern Mediterranean to early March.

Deal for 6 Bcm is valued at between $1.1 billion and $1.2 billion.

Baker Hughes shares, which rose as much as 9% from the day’s low, closed at $26.76 on the New York Stock Exchange, up about 1.2%.

Technology People

Jan Arve Haugan will take the helm of Aker Energy on March 1, after leading Kvaerner since 2011.

Forum Energy Technologies Inc. (NYSE: FET) has appointed Pablo G. Mercado to serve as senior vice president and CFO effective March 1, 2018.

Murphy Oil Corp. (NYSE: MUR) said Feb. 21 that it has elected David R. Looney to serve as executive vice president and CFO effective March 1, 2018.

Pengrowth Energy Corp. (NYSE: PGH) said Feb. 20 it has appointed Peter Sametz as president, CEO and as a member of the board of directors effective March 15th, 2018.

Tullow Oil Plc has picked electrical engineer and businessman Kweku Awotwi as the new head of its Ghana operations after the retirement of its current managing director.

Technology Regulations

Seeing the potential benefits of oil, residents of the poorest of Kenya’s 47 counties now want the central government to make up for decades of neglect by ploughing nearly a third of expected oil revenues back into Turkana.

The Interior Department said it would offer 77.3 million acres offshore Texas, Louisiana, Mississippi, Alabama and Florida, an auction that includes all available unleased areas in the Gulf of Mexico.

Democratic Republic of Congo’s oil minister on Feb. 15 defended the country’s right to explore for oil anywhere on its territory after media reports that President Joseph Kabila approved drilling in Africa’s largest tropical rainforest reserve.

At the core of the case is a $1.3 billion payment from Shell and Eni to secure the block from Malabu Oil and Gas, allegedly controlled by former Nigerian oil minister Dan Etete.

Algeria’s state energy firm Sonatrach and Italian oil firm Saipem signed an agreement on Feb. 14 to end their legal disputes over four gas projects, company executives said, paving the way for new projects.