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.
Drilling & Production News
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.
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.
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.
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.
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.
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.