Drilling & Production News

Tags
Drilling & Production

Revolutionary coiled tubing product

Global Tubing, LLC, the industry leader in coiled tubing products and services, launches DURACOIL, a revolutionary coiled tubing product.  DURACOIL’s improved tubing fatigue life, predictability and resistance to abrasion minimizes downtime due to pipe failures.  It is also less susceptible to preferential corrosion and Microbial Induced Corrosion (MIC) than conventional coiled tubing.  

Read More

Tags
Drilling & Production

Baker Hughes releases adaptive drill bit

Baker Hughes announced the commercial release of its TerrAdapt adaptive drill bit, which can deliver dramatic improvements in drilling economics by using automation to mitigate downhole dysfunctions that cause inefficient drilling and costly tool failures. With the industry’s first self-adjusting depth-of-cut (DOC) control elements, the TerrAdapt bit automatically changes its aggressiveness based on the formation through which it is drilling to mitigate vibrations, stick-slip and impact loading. For operators, this means faster, more consistent rates of penetration (ROP), longer bit/tool life and significantly reduced non-productive time and invisible lost time. 

Read More

Tags
Drilling & Production
Industry News

Extraction still in survival mode despite price increases, according to Conference Board

Although Canada’s oil producers are expected to benefit from both higher prices and rising production, profitability will remain elusive for the industry—with losses expected for the third year in a row. Pre-tax losses in Canada’s oil extraction industry are projected to reach just over $1.1 billion this year, according to The Conference Board of Canada’s latest outlook for the industry.

Read More

Tags
Industry News
Drilling & Production

OPEC nations reach 98.5% compliance on cuts

The 10 Organization of the Petroleum Exporting Countries (OPEC) members moved closer to full compliance with the landmark production cut agreement signed late last year, as output in the month fell from January levels to average 32.03 million barrels per day, according to an S&P Global Platts survey of analysts. In all, taking an average of January and February production, the 10 members obligated to reduce output under the deal have achieved 98.5% of their total combined cuts, according to the survey, up from 91% in January.

Read More

Tags
Industry News
Drilling & Production

Survey sets record for seismic traces in Montney

Explor Geophysical Ltd. announces that it has just completed acquisition of a high-density 3D seismic survey that attained trace densities ranging from 2.5 million to 5 million seismic traces per square kilometer, a new record.  Over 115,000 source points were acquired on a single 120 km2 3D seismic survey.  This trace density was achieved in each of the three components recorded, enabling processing and interpretation of both pressure waves and shear waves. 

Read More

Tags
Industry News
Drilling & Production

Blackbird to acquire new Montney properties from Paramount

Blackbird Energy Inc. has entered into a letter of intent with Paramount Resources Ltd. for the acquisition of 13 gross sections of Montney rights (3.1 net) for total consideration of 5 million Blackbird common shares. These lands are contiguous with Blackbird’s existing lands and will, upon closing, increase Blackbird’s Montney rights at Elmworth / Pipestone to 115 gross sections (99.9 net).

Read More

Tags
Drilling & Production

Pason Systems awarded first license of ExxonMobil's Drilling Advisory System

ExxonMobil has awarded Pason Systems, Inc. the first global license of its patented Drilling Advisory System™, a key component of the company’s Fast Drill™ technology suite. The licensing agreement accelerates the technology’s commercialization by combining Pason’s expertise in drilling data and ExxonMobil’s experience in drilling surveillance and optimization.

Read More

Tags
Drilling & Production
Industry News

Global Tubing opens service centre in Grande Prairie

Global Tubing, LLC, a worldwide provider of coiled tubing products and services, announces the opening of a new service centre in Grande Prairie, Alberta this June. The new centre is strategically located near the Montney, Duvernay, and Cardium Shale basins.  Among these, the Montney is considered one of North America’s top emerging plays and holds approximately half of Canada’s natural gas reserves.

Read More

Tags
Drilling & Production
Industry News

Edmonton-based Wavefront making inroads with Powerwave in Middle East

Wavefront Technology Solutions Inc. has been making convincing progress in the marketing and branding of Wavefront's core technology, Powerwave, in the Middle East over the past eighteen months. The benefits of Wavefront's focused efforts in the Middle East and the positive Powerwave performance are producing additional opportunities that are now being presented to the Company. Within the focus areas of the Kingdom of Saudi Arabia; Kuwait; Oman; and Bahrain there are approximately 10,000 oil and gas and water injection wells applicable to well stimulation where Powerwave could be employed.

Read More

Tags
Drilling & Production
Industry News

PSAC revises drilling forecast numbers upward for 2017

In its first update to the 2017 Canadian Drilling Activity Forecast, released today, the Petroleum Services Association of Canada (PSAC) has revised its forecasted number of wells drilled (rig releases) across Canada for 2017 to 5,150 wells. This represents an increase of 975 wells, or 23 percent, from PSAC’s original 2017 drilling forecast released in early November 2016.

Read More

Tags
Drilling & Production
Industry News
Offshore Technology

Collaboration leads to first Distributed Buoyancy Module for installation by ROV

To meet customer demands, Trelleborg’s offshore operation collaborated with SubC Partner to design, manufacture and test a Distributed Buoyancy Module (DBM) for installation by a Remotely Operated Vehicle (ROV) on to an FPSO’s 12 inch production riser in a steep wave configuration. By having an ROV installable DBM, Trelleborg and SubC Partner were able to successfully execute a world first offshore project, which succeeded in replacing buoyancy modules on a live riser, without shutting oil production.

Read More

Tags
Drilling & Production
Industry News

Ideal acquires flowback and production testing assets from Cathedral

Ideal Completions Group LLC has entered into a definitive purchase and sale agreement with Cathedral Energy Services Ltd. for the acquisition of all of Cathedral's flowback and production testing assets in Canada and the United States. The acquisition will be fully funded by management and ENR Partners LP, which is an affiliate of Edge Natural Resources LLC, a Dallas-based private equity firm focused on small-cap investments in the North American energy industry. Ideal has access to additional capital to expand its flowback business through acquisition and/or the build-out of new equipment.

Read More