Oil industry expert warns of North Sea drilling washout in 2017
An oil and gas industry veteran yesterday warned that 2017 would be another washout for North Sea drilling unless investment is secured quickly.
drilling
Shell safety chief urges industry not to get bogged down in KPIs
The oil and gas industry is in danger of getting bogged down in key performance indicators (KPIs), a safety chief from Shell said yesterday.
Infographic: Data reveals number of drilled but uncompleted wells in US
The Energy Information Agency (EIA) has provided fresh data on the number of drilled but uncompleted wells (DUCs) in the US.
UKCS: Green shoots of summer success
Towards the end of August, three wells, comprising two exploration and one appraisal, were active, but with no new spuds since our last report.
Intelligent Energy 2016: Have you heard the joke about the driller and the dog?
The first fully automated drilling systems will appear within the next few years, an oil and gas industry chief said today in Aberdeen.
Lord Provost presents Aberdeen’s HRH Geology with second Queen’s Award
The Lord Provost of Aberdeen has presented a Granite City firm with its second Queen’s Award for International Trade.
LGO Energy starts production from new Trinidad well
LGO Energy has started production from the GY-277 oil well, the fourth of its planned heavy work-overs at the Goudron Field in Trinidad.
BP submits second Australian environmental drilling plan
BP has submitted a second environmental plan to Australia’s offshore oil and gas regulator as it looks to drill exploration wells off the country’s southern coast.
Awilco profits plummet due to rig’s late return to work
Profits at Aberdeen offshore drilling company Awilco nosedived in the second quarter due to the late return to work of one of its two rigs amid a row with Apache North Sea.
Russia’s Rosneft hits drilling record in June, reveals Vietnam play
Russian state oil company Rosneft set a new daily development drilling record in the first half of this year while its partners in Vietnam discovered a new gas condensate field.
Oil trades near $42 as US drilling gains sixth week amid glut
Oil traded near $42 a barrel as U.S. drilling increased at the fastest pace in almost a year.
Drillbits: Hard times and no let-up in sight for drilling iron
As the Wall Street reporting season grinds along, the news from the oil-patch is, by and large, gloomy with the exception of US onshore drilling where there is a distinct uptick in shale-related activity.
Drilling contractor Diamond Offshore to scrap 2 rigs as revenues plummet
US drilling contractor Diamond Offshore said today it would scrap two of its rigs after recording a 38% drop in revenues in the second quarter of 2016. The Houston-based firm said Ocean Quest and Ocean Star would be retired, while two others would be cold stacked to keep costs down. Diamond made the decision at a time when offshore drilling is in the doldrums due to high costs and low crude prices.
$60 is the new $50 for US oil drillers waiting for rebound
For U.S. oil drillers, $60 is the new $50.
Projects could now be viable at $60 oil, says Wood Mac
Fresh analysis by Wood Mackenzie has shown 70% of new drilling in US tight oil plays and pre Final Investment Decision (FID) conventional oil projects are commercial at $60 oil.
Independent Oil and Gas to kickstart North Sea drilling campaign
Independent Oil and Gas (IOG) is poised to kick-start its North Sea drilling campaign after getting the green light at is general meeting.
Shell cleared to resume drilling in Canada
Shell Canada has been cleared to resume drilling of two exploration wells after an accident in March.
Archer to cut up to 10% of workforce in UK, Norway and Argentina
Archer said it plans to make reductions to its headcount by up to 10% in the second quarter of the year from its operations in the UK, Norway and Argentina.
Italian vote fails to stop drilling extension
A vote in Italy to curtail the duration of existing drilling concessions in territorial workers has failed.
US set to issue tighter offshore drilling rules fought by industry
The Obama administration will issue sweeping new regulations on offshore drilling Thursday, imposing potentially costly requirements for those coastal wells and the emergency equipment meant to prevent environmental disasters.
Wall Street drilling for oil backfires as banks face loan losses
The Wall Street bankers that backed the biggest oil boom in US history are paying a price for the bust.
Boss of new industry alliance vows to rescue North Sea oil industry
The boss of a newly formed group of three businesses has vowed to come to the rescue of North Sea oil and gas companies with badly-needed well intervention services. Paul Landers said The New Way (TNW) will pool its resources to improve flow from wells at a low cost and with a quick turnaround time. TNW is made up of well services firm StimLite and GB Seismic, both based in Leicester, and UCS, a contracting supply company.
Maersk Drilling to make up to 70 redundancies in Norway
Maersk Drilling is set to make up to 70 redundancies in Norway.
Statoil, Halliburton launch drilling on Madam Trapp well
Norwegian operator Statoil and Halliburton have kicked off drilling on the Madam Trap well.
North Sea drilling at record low spells end to region’s revival
The pace of drilling in the North Sea, the center of UK oil production for the past 40 years, has sunk to a record as crashing energy prices force explorers to abandon costly projects. Just 63 percent of oil and gas rigs in the UK North Sea were being used as of Jan. 19, according to data provider RigLogix. That’s the lowest since the Houston-based company started tracking their operation in 2000. In the Norwegian North Sea, the 71 percent rate is also the worst on record.