Imperial has slowed the pace of development of its Aspen in situ oil sands project given market uncertainty stemming from Alberta government intervention and other industry competitiveness challenges.
Quorum Software has published the second white paper in its Modern Energy Workplace series. The new white paper examines how oil and gas companies are challenged to adopt new digital technologies such as big data, cloud, and cognitive to modernize business processes that support the next generation of energy professionals.
Quorum's white paper, "Evolution not Revolution: Digitally Enabling the Modern Energy Workplace," spotlights current industry trends and discusses how oil and gas companies can advance innovation by embracing a platform-based approach that embeds new technology at the platform-level and surfaces it at the application-level for faster, easier adoption by business users and IT.
Core to this strategy is a software platform. myQuorum is an open standards-based software integration platform that automates workflows and connects people, processes, and systems to deliver actionable insights in an industry-first user experience optimized for mobile and cloud technologies. myQuorum powers Quorum business applications for oil and gas accounting, land management, production management, gathering, transportation, and more.
IDC, a leading provider of global IT research and advice, has released a report recognizing the development of the myQuorum software platform as more oil and gas companies look to technology to break down silos and transform their organizations. The report, titled "Quorum Transforming in the New Oil and Gas Market," highlights Quorum's industry platform model strategy, particularly how it aligns with changes in the upstream and midstream software markets.
Oil and gas, like all industries, is undergoing a digital transformation and a shift towards software platforms as a mechanism to allow for collaboration and more efficient workflows to help move the business forward. Benefits of this transition range from greater efficiency through integrated workflows and data to nimble operations that can adapt as the market or technology evolve. Key traits of the myQuorum platform featured in the IDC Insights report include its agility with access to data and workflows, its uniform data model for all apps, and the cloud-based component.
"Oil and gas companies come to Quorum because they want all their land and production apps to operate on a common data model, be easily modified, and have some ability to automate decision making and workflows, while doing so seamlessly in the cloud," said Olivier Thierry, Chief Marketing Officer. "Our myQuorum platform does just that, and more. Our latest AI technology adds a cognitive services layer to myQuorum business applications, empowering customers and users with new approaches to solving problems. By breaking parts of the organization out of silos, Quorum continues to make its customers a part of the broader digital transformation of the oil and gas industry."
"Not only has Quorum rapidly transitioned from a services vendor to a software company with a unique industry platform model, but it has a recent acquisition strategy that seems to define where the company is heading," said Kevin Prouty, VP of IDC Energy Insights. "Whether it's through building out new apps themselves, acquisitions carefully targeted at expanding the myQuorum ecosystem, or developing a partnership strategy that expands the app ecosystem - Quorum has one of the most innovative approaches to the market and continues to generate a lot of buzz."
According to IDC, "IDC Energy Insights has been following the land management system and hydrocarbon accounting space for years. The myQuorum platform is the first development that puts digital transformation into those areas. Other software companies have very functional upstream and midstream systems. But user executives need to look at their entire operation and assess their ability to break down silos and break the pattern of building operations around relatively rigid software systems."
Download Quorum's white paper, "Evolution not Revolution: Digitally Enabling the Modern Energy Workplace" here.
More from Drilling & Production
Despite each of our daily lives becoming increasingly digitized to save us time and money and keep us safe and healthy, many areas of heavy industry, especially those which rely on large-scale physical infrastructure, are still grappling with how to integrate meaningful technologies that will move them beyond cumbersome and costly analogue processes.
Canadian Natural has reported its 2018 fourth quarter and full year results, indicating that the company is continuing to show growth, even within a challenging oil and gas industy.
Questerre Energy Corporation has executed a definitive purchase and sale agreement with a senior exploration and production company to acquire all their assets in Quebec. This follows the letter of intent signed in early 2018 as set out in the Company's press release dated June 4, 2018.
Rotork IQ3 intelligent multi-turn electric actuators have been specified for use in solar powered control stations for water gathering pipelines in the USA.
Saturn Oil & Gas Inc. has provided an operational update, including details of the Company's Q1/19 capital budget and drilling program (the "Program"), along with forecast average production volumes for the quarter.
CIRCOR Industrial Valves announces the cost-saving Rotable Critical Trim Refurbishment Program. Eliminating the delay and expense of cutting out a leaking valve, the program replaces internal valve components to return valve function quickly while restoring the removed parts for future use.
Cuda Oil and Gas Inc. has released the results of its 2018 year-end oil and gas reserves evaluation for Wyoming and Alberta.
Tourmaline Oil Corp. is pleased to report very strong total reserve growth, liquids reserve growth and a continued reserve value increase in the current depressed natural gas price environment. The Company executed on the 2017-2018 plan to concentrate almost entirely on internal EP growth and has produced the best reserve metrics in the Company's 10 year history over the past two years.
Another component has been added to the product portfolio of the NEMO progressing cavity pump from NETZSCH: the xLC unit. This unit triples the service life of the pump, particularly when conveying difficult, abrasive media. When wear occurs in the rotor-stator system, the new xLC unit allows the performance of the pump to be re-established by adjusting the preload between the conveyor elements.
Rockwell Automation, which is dedicated to industrial automation and information, and Schlumberger, a leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry, have entered into an agreement to create a new joint venture, Sensia, the first fully integrated digital oilfield automation solutions provider.
Pulse Oil Corp. is happy to announce that the Company intends to drill two new wells within the Bigoray EOR acreage in February and March 2019.
Advantage Oil & Gas Ltd. has released a report on its 2018 reserves and an operational update on the Corporation's liquids development plan.
Baker Hughes, a GE company announced that the Baker Hughes international rig count for January 2019 was 1,023, down 2 from the 1,025 counted in December 2018, and up 63 from the 960 counted in January 2018. The international offshore rig count for January 2019 was 241, up 7 from the 234 counted in December 2018, and up 45 from the 196 counted in January 2018.
Baker Hughes, a GE company has introduced the , which mills out more smoothly and cleans up better than any other conventional frac plug on the market, cutting costs and helping customers achieve first oil faster.
Hemisphere Energy Corporation has provided an update on its Southern Alberta operations following the 11 well drilling program that was completed in the fall of 2018.
Saturn Oil & Gas Inc. commenced its Q1/2019 drill program on January 14, 2019. The Program consists of ten extended reach horizontal Viking wells spread over its Milton, Kerrobert and Prairiedale lands.
Packers Plus Energy Services Inc. is adapting to the industry's changing needs and introducing operators to a diverse selection of high-quality completion technologies to increase production, save time and reduce risk.
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.
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.