Archive for the ‘Drilling Production’ Category
The international rig count for April reached 1,062, up 23 units from 1,039 in March and up 84 units from 978 in April 2018, according to Baker Hughes data. The international offshore rig count for April was 251, up 4 units from 247 in March and up 57 …
Future advances in technology will help offshore oil and gas development compete with US shale plays, said one of two oil-company keynote speakers May 6 at the Offshore Technology Conference in Houston.
BP PLC has let an integrated engineering, procurement, construction, and installation contract to TechnipFMC for the Thunder Horse South expansion Phase 2 project in the deepwater Gulf of Mexico. The contract, valued by TechnipFMC at $75-250 million, i…
OTC: Industry learning from MODU reactivation
May 7th, 2019 by Latest News
Lessons are being learned as industry reactivates mobile offshore drilling units (MODU) that were cold or warm-stacked during the oil-price slump that started in late 2014, representatives from Northern Offshore and Borr Drilling told an Offshore Techn…
BP PLC has sanctioned development of Phase 2 of the Thunder Horse South expansion project in the deepwater Gulf of Mexico. The project—which at peak is expected to add 50,000 boe/d gross of production from the existing Thunder Horse platform—is due for…
Light, sweet crude oil for June delivery gained 13¢ to settle at $61.94/bbl on the New York market May 3 while the July contract added 14¢ to settle at $62.04/bbl. Despite the slight rise for the trading session, US oil futures prices fell for the we…
ExxonMobil Corp. has financed the Liza Phase 2 development offshore Guyana after receiving government and regulatory approvals. Liza Phase 2 will produce as much as 220,000 b/d, and ExxonMobil forecasts the Stabroek block will produce more than 750,000…
The US drilling rig count fell 1 unit, remaining below 1,000, reaching 990 rigs working for the week ended May 3, according to Baker Hughes data. The count is down 42 units from the 1,032 rigs working this time a year ago.
Light, sweet crude oil for June delivery dropped by nearly $1.80 to $61.81/bbl on the New York market May 2 while the Brent contract for July dropped by more than $1.40 to settle at $70.75/bbl in London. Crude on the New York market fell to the lowest …
The US Bureau of Safety and Environmental Enforcement issued revised offshore blowout preventer (BOP) and well control regulations on May 2. The changes remove unnecessary regulatory burdens while maintaining safety and environmental protections, US De…