In its first update to the 2019 Canadian Drilling Activity Forecast, the Petroleum Services Association of Canada (PSAC) has revised the number of wells drilled (rig released) across Canada for 2019 to 5,600 wells. This represents a decrease of 1,000 wells, or 15 percent, from PSAC's original 2019 drilling Forecast released in November 2018 and reflects the deteriorating investor confidence in Canada.
Drilling & Production
Subsea oil and gas engineering firm Interventek will unveil the development of the industry's first subsea shear-and-seal safety valve powered by an integrated gas accumulator at next week's Subsea Expo show in Aberdeen, UK. This innovation builds on Interventek's existing, award-winning, Revolution valve technology by adding a gas accumulator within the valve, close to the cutting and sealing mechanism. It increases the power and speed of the valve's functionality and provides a failsafe mode triggered in the event of an emergency.
LORD Corporation - a leader in motion and vibration control solutions for the oil and gas industry - is now certified to the American Petroleum Institute's (API) standard 16F testing for telescopic joint (TJ) packers.
Baker Hughes, a GE company has posted Weekly Rig Count reports.
Subsea Integration Alliance has announced the award of integrated subsea engineering, procurement, construction, installation and commissioning (EPCIC) contracts. These awards, by Esso Australia Pty Ltd, represent the first integrated subsea project for Subsea Integration Alliance in Australia combining OneSubsea and Subsea 7 expertise in subsea production systems (SPS) and subsea umbilical, riser and flowline (SURF) systems.
Calima Energy Limited has spudded the first well of a three well programme to test the prospectivity of the Montney Formation in the Company's 72,000 acre lease holdings in British Columbia.
Suncor has provided an operations update for the fourth quarter of 2018, highlighting total upstream production of 831,000 barrels of oil equivalent per day (boe/d), which is a quarterly production record and represents an increase of 12% from the third quarter of 2018. This record-breaking quarter reflects the results of the significant investment developing Fort Hills, and Suncor's ongoing operational excellence focus across its assets, particularly at the Syncrude joint venture.
CPC-Cryolab, a CIRCOR International brand, offers the 5000 Series Cryogenic Valves, ideal for use in ultra-cold cryogenic storage tanks, transportation trailers, and vacuum jacketed and non-jacketed piping systems. The 5000 Series valves feature bellow sealed and non-bellows sealed designs, redundant packaging seals, and all stainless-steel construction, trusted the most common, most reliable LHe valves used on ISO helium containers world-wide.
Pulse Oil Corp. announces that on December 27th, 2018, drilling of Pulse's second exploration well, PUL HZ QUEENSTN 12-9-19-21 W4 ("12-9"), reached a total measured depth, as planned, of 2957m (TVD 1389m), including 1237m of lateral section within a highly porous Mannville-aged Lithic sandstone channel. The 12-9 well was Pulse's second well successfully targeting a new 3-D seismic interpretation intended to focus on the highest porosity / permeability lithic deposits within the Mannville channel trend in the Queenstown area of Southern Alberta.
The latest innovation from Packers Plus Energy Services Inc. is providing operators with higher efficiency plug-and-perf systems worldwide. The TREX Cemented Product Line now offers composite and degradable plugs to improve deployment and reduce/eliminate mill-out operations, saving time and reducing risk.
Packers Plus Energy Services Inc. is pleased to announce a successful completion using the QuickFRAC multi-stage completion system for an operator in the Middle East. A new configuration of the open hole, limited entry system was designed and implemented for the lowest cost with maximal operational efficiency and improved reservoir productivity.
Pulse Oil Corp. has announced its first horizontal drilling program is now underway.
Baker Hughes, a GE company announced that the Baker Hughes international rig count for November 2018 was 991, down 26 from the 1,017 counted in October 2018, and up 49 from the 942 counted in November 2017. The international offshore rig count for November 2018 was 206, down 1 from the 207 counted in October 2018, and up 23 from the 183 counted in November 2017.
Churchill Drilling Tools celebrated a landmark achievement recently. Churchill's Drift Catcher, run by operators across the globe to secure positive drift confirmations, celebrated its 2,000th run.
Petroshale announces financial and operating results for the third quarter of 2018 and executive appointment
PetroShale Inc. has announced its financial and operating results for the three and nine month periods ending September 30, 2018. In addition, the Company announces the appointment of Mr. Caleb Morgret as Chief Financial Officer (CFO), who will assume the role from Mr. David Rain, who is retiring effective November 30, 2018.
Baker Hughes, a GE company announces the launch of its new approach to subsea development: Subsea Connect, including its Aptara TOTEX-lite subsea system, a suite of new lightweight, modular technologies designed for the full life of field. By combining planning and risk management, new modular deepwater technology, innovative partnerships and digital tools into a single offering, Subsea Connect can reduce the economic development point of subsea projects by an average of 30 percent and has the potential to unlock an additional 16 billion barrels of reserves globally.
Pulse Oil Corp. has announced two Queenstown wells to be drilled and regulatory transfers for key Bigoray well reactivations have been received.
Despite a recovery in the price of oil, and LNG Canada's positive announcement early in Q4 that it would be building its LNG export facility, drilling activity in 2018 remained flat year-over-year. Once again the politicization of oil and gas infrastructure in Canada, along with increased taxation and regulatory requirements, resulted in significant delays and additional costs for Canadian producers, and sustained price differentials for Canadian crude blends.
Rotork has extended its CMA range of compact modulating actuators with new sizes specifically designed for reliable automation of larger linear control valves.
Operations remain suspended at the SeaRose floating production, storage and offloading (FPSO) vessel with all production wells secure after a period of extreme weather late last week.
The latest innovation from Packers Plus Energy Services Inc. brings simplicity and reliability to operators for stimulating the first stage of oil and gas wells. The Toe-XT Hydraulic Sleeve is specially designed to enable a maximum casing pressure test before activating the sleeve for stimulation operations.
Schlumberger introduced Concert well testing live performance technology at the Abu Dhabi International Petroleum Exhibition & Conference. The new technology brings real-time surface and downhole measurements, data analysis, and collaboration capabilities to well testing.
Well construction specialist DeltaTek Global has announced the inaugural deployment of its SeaCure technology.
Mixing is a vital part of many processes. How a mixer performs can affect final product quality, productivity, process times and energy efficiency. There are many factors in the design of a mixing solution that will affect how well it operates. Understanding how to optimize these can make a real difference to plant efficiency and profitability - and this is where SPX FLOW can really help.
Incorporating the M&J Valve and Copes-Vulcan brands, SPX FLOW has long served the oil, gas and power industries with a huge range of valves designed to offer reliable, safe performance in even the most critical of applications. The valves portfolio includes Danflo Surge Relief Valves for pipeline protection against surge, Slab and Expanding Gate valves for pipeline isolation, 4-way diverter valves for Bi-Direction Provers, Turbine Bypass Valves, Desuperheaters, general and severe duty control valves for power plants. All are precisely engineered and incorporate innovative features to help address challenges faced in the oil, gas and power industries.
The Canadian Environmental Assessment Agency has commenced a federal environmental assessment for the proposed Southeastern Newfoundland Offshore Exploration Drilling Project, located 300 kilometres east of St. John's, Newfoundland and Labrador, in the Atlantic Ocean.
The Petroleum Services Association of Canada (PSAC) has released its 2019 Canadian Drilling Activity Forecast. PSAC expects a total of 6,600 wells (rig releases) to be drilled in Canada in 2019. For 2018, the Association's final revised forecast predicts a yearly total of 6,980 wells.
MEG Energy Corp. reported third quarter 2018 operating and financial results that feature a record quarterly production volume, record low per barrel operating costs, and solid funds flow for the period.
The Canadian Environmental Assessment Agency is conducting a federal environmental assessment for the proposed Newfoundland Orphan Basin Exploration Drilling Project, located 343 to 496 kilometres northeast of St. John's, Newfoundland and Labrador, in the Atlantic Ocean.
ITT Inc.'s BIW Connector Systems brand has unveiled a new $1.5 million high pressure, high-temperature chamber for qualification testing of new electrical penetrator systems used in oil and gas wells.
Nine Energy Service, Inc. has officially completed the acquisition of Magnum Oil Tools International, LTD., a market-leading downhole technology provider serving the global oil and gas industry for over a decade. Magnum has a broad offering of proprietary downhole completions products, including dissolvable and composite frac plugs, as well as a number of other patented consumables.
More than 50 percent of reported underground utility damages are the result of insufficient excavation practices according to the 2017 DIRT Report. The Ditch Witch organization, a Charles Machine Works Company, has introduced an industry-first Virtual Reality (VR) Simulator to better prepare horizontal directional drill (HDD) operators for safe underground construction through cutting-edge training technology.
ROVOP, the independent provider of underwater remotely operated vehicles (ROVs), has announced the purchase of the entire fleet of 28 ROV systems from M2 Subsea.
Festo's newest line of FDA-compliant pneumatic tubing - PTFEN - delivers excellent high pressure, heat, corrosion and hydrolysis resistance required for harsh operating environments in many process industries. Made of polytetrafluorethylene, this extremely robust tubing is TSE-free, resistant to cleaning agent and not affected by challenging ambient atmospheric conditions. Microbes and other active agents and contaminants don't stick to polytetrafluorethylene, making PTFEN tubing easier to clean and ideal for manufacturing in the chemical and other industries.
Leslie Controls, a CIRCOR International brand, and a worldwide manufacturer of valves for the power generation, industrial, marine and oil and gas markets for over a century, features its K-Max Eccentric Plug Rotary Control Valve, one of the most versatile and robust valves of its type, and an improvement on the performance and durability of traditional rotary control valves. The K-Max incorporates the cam-action, low-friction plug operation that provides tight shutoff over a long service life in a variety of flow control applications, including high and low-pressure steam systems; clean, dirty, and corrosive liquids and gasses; and erosive and abrasive slurries.
As hydraulic fracturing activity ramps up in colder locations across the United States to meet growing energy demand, harsher temperatures and environmental conditions remain a challenge. Providing the market with a cold-weather solution, Dow Microbial Control, a business unit of DowDuPont Specialty Products, has launched two new products within its AQUCAR Water Treatment Microbiocides portfolio: AQUCAR TN 250 LT Water Treatment Microbiocide and AQUCAR 7140 LT Water Treatment Microbiocide.
Baker Hughes, a GE company has posted weekly rig count reports: