Canadian drilling operations continued to be solid in terms of the number operating, despite a drop of six working rigs over the past week.
Drilling & Production News
CIRCA coiled tubing simulation software from Baker Hughes enables coiled tubing service providers to maximize equipment performance and improve operational efficiency in well interventions. Based on learnings from the field and built and refined over three decades, the software allows coiled tubing providers and operators to build better job models for more predictable results.
The Petroleum Services Association of Canada (PSAC), in its third update to its 2017 Canadian Drilling Activity Forecast, announced that it was increasing its forecasted number of 6,680 wells to be drilled (rig released) across Canada for 2017 to 7,200 wells drilled. PSAC based its updated 2017 Forecast on average natural gas prices of $2.75 CDN/mcf (AECO), crude oil prices of US$49.00/barrel (WTI) and the Canada-US exchange rate averaging $0.77.
Through its strategic marketing partner, Gulf Drilling and Maintenance Company ("GDMC"), Edmonton-based Wavefront Technology Solutions continues to build the Powerwave brand in Kuwait. Over the past several months GDMC has been carrying out very successful Powerwave well stimulation operations in challenging reservoir conditions that have garnered attention by engineers at the state owned national oil company. In certain instances these stimulations followed failed attempts by leading global service providers to stimulate the reservoir and improve oil production or water injection rates. Powerwave is also being promoted internally at the national oil company by "technology champions" who are organizing seminars and disseminating results through poster boards.
Canada Pension Plan Investment Board and Vermilion Energy Inc. have formed a strategic partnership in the Corrib Natural Gas Field in Ireland, whereby CPPIB will acquire Shell Exploration Company B.V.'s 45% interest in the project, with Vermilion operating the assets after completion of the acquisition. Through its wholly owned subsidiary, CPP Investment Board Europe S.a.r.l., CPPIB has entered into a definitive purchase and sale agreement with Shell to acquire 100% of Shell E&P Ireland Limited, which holds Shell's 45% interest in Corrib for total cash consideration of €830 million, subject to customary closing adjustments and future contingent value payments based on performance and realized pricing. The Acquisition, which remains subject to customary conditions and receipt of all necessary government consents, has an effective date of January 1, 2017 with closing anticipated in the first half of 2018.
Well-SENSE Technology Ltd. has achieved success with its pioneering FibreLine Intervention (FLI) technology for an oil major operating in the Eagle Ford, West Texas area. The trials demonstrated that, by using FLI, wells can be temperature profiled over an extended period of time, in a cost-effective manner, without affecting drilling schedules.
RMP Energy Inc. has announced the recent successful commissioning and start-up of its 100% owned and operated Elmworth 2-23 oil battery and gas handling facility in the Elmworth (Gold Creek) field of West Central Alberta. The 2-23 Facility is presently handling the initial crude oil and natural gas production from two (2.0 net) of RMP's Middle Montney drilled wells (3-22-68-3W6M and 4-18-68-2W6M). Early-stage well production results are encouraging and the Company anticipates providing detailed production data once the wells produce for at least thirty calendar days. The start-up of the 2-23 Facility marks an important corporate milestone for RMP as it enables the Company to begin realizing commercial benefit and return of its capital investment from its new core area, which encompasses 82.5 net sections (52,800 net acres) of acreage prospective in the Middle Montney reservoir. The 2-23 Facility, which can be expanded as required, has initial design capacity to handle 1,500 bbls/d of crude oil, 8.2 MMcf/d of natural gas and 7,500 bbls/d of emulsion.
The Canadian Association of Oilwell Drilling Contractors (CAODC) has announced its revised 2017 Drilling Forecast. The organization forecasts the following:
- Projected 2017 wells drilled: 6,842 — an increase of 2,177 from original forecast
- Projected 2017 operating days: 71,839 — an increase of 22,859 from original forecast
- Projected rig count in for Year End 2017: 635 — a decrease of 30 rigs
The award-winning DAV MX circulating sub from Churchill Drilling Tools, an oilfield service company specializing in drilling innovation, has been successfully used to significantly cut process time and costs for two challenging deepwater cementing operations, without compromising string functionality.
The unique PowerScrew liner hanger from Seminole Services utilizes torsional energy from the top drive to efficiently and safely set a liner, eliminating any need for high pressure in the setting process. In the PowerScrew's setting mechanism, rotation of the top drive provides all of the energy required to helically stretch-form the liner top without the application of pressure. This unique mechanical setting process provides a liner top that's ISO 14310 V0 rated, for improved pressure containment, increased hanging capacity, and an overall higher standard of reliability and safety.