Archive for the ‘Drilling Production’ Category
CSB: Operational lapses led to well blowout, fire
June 13th, 2019 by Latest News
Poor barrier management combined with underbalanced operations performed without proper planning, procedures, or needed equipment to make an Oklahoma natural gas well blow out and catch fire on Jan. 22, 2018, killing five workers in the driller’s cabin…
CAPP: Canadian crude output growth slowing
June 13th, 2019 by Latest News
Canadian production of crude oil and condensate will increase through 2035 but at rates sharply lower than predicted before the crude-price slump of 2014-15 and the onset of problems associated with pipeline congestion. In its annual outlook for crude …
MARKET: NYMEX oil prices plunge more than $2/bbl
June 13th, 2019 by Latest News
Light, sweet crude oil prices for July and August dropped steeply by more than $2 on July 12 to settle below $52/bbl on the New York market while Brent crude oil also dipped by more than $2 in London to settle under $60/bbl.
World Bank: Global gas flaring up 3% in 2018
June 12th, 2019 by Latest News
Flaring of natural gas rose 3% year-to-year in 2018 to an estimated 145 billion cu m, the World Bank’s Global Gas Flaring Reduction Partnership disclosed on June 12. The growth was associated with increased US crude oil production, although US flaring …
BP report sees energy-emissions ‘mismatch’
June 12th, 2019 by Latest News
Citing a “growing mismatch” between hope and action, BP executives released the company’s annual Statistical Review of World Energy featuring slow progress on climate change and rapid growth in energy demand and emissions of carbon dioxide. The report …
DNO to decommission up to 21 wells offshore UK
June 12th, 2019 by Latest News
DNO North Sea (ROGB), a unit of DNO, hired Well-Safe Solutions to decommission up to 21 UK Continental Shelf wells in Schooner and Ketch fields, which DNO acquired in 2018 from Faroe Petroleum. The North Sea fields stopped producing in August 2018.
Brent crude oil spot prices are expected to average $67/bbl this year, which is $3/bbl lower than forecast last month in the US Energy Information Administration’s Short-Term Energy Outlook. In this month’s STEO, EIA reports expecting Brent to remain a…
Culzean field starts production off UK
June 11th, 2019 by Latest News
Production has begun from Culzean gas condensate field in the Central Graben area of the UK North Sea. Development by Total SA and partners involved the drilling of six wells and construction of three bridge-linked platforms and a floating storage and …
Petrobras, SBM sign LOI for Mero 2 FPSO
June 11th, 2019 by Latest News
Petroleo Brasileiro SA (Petrobras) signed a letter of intent with SBM Offshore for a 22.5-year lease and operation of the Mero 2 floating production, storage, and offloading vessel to be installed on giant Mero oil field in the Santos basin offshore Br…
ExxonMobil proceeds with Vaca Muerta expansion
June 11th, 2019 by Latest News
ExxonMobil Corp. announced plans to proceed with long-term oil development on Bajo del Choique-La Invernada block within Argentina’s Vaca Muerta basin. The project is expected to produce as much as 55,000 boe/d within 5 years. The project will include …