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Financially healthier than in years past, operators are prepared to stave off the negative impacts of volatile oil markets in 2019 and advance their exploration and development programs. -
Slumping oil prices may throw a wrench into a positive outlook for the global oilfield services and equipment industry. Even if prices rebound, complications in the US fracturing market—and elsewhere—are expected to persist.
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DEA Deutsche Erdoel is buying Sierra Oil & Gas, giving the German operator stakes in six new blocks off Mexico—including the Zama discovery, where appraisal drilling is now under way.
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The firm hopes to remedy the cost-, labor-, and time-intensive process of executing offshore projects through deployment of “Subsea Connect,” which it says can cut project development costs by 30%.
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The Pluma-1 discovery could turn the southeast portion of Stabroek Block off Guyana "into a major new development area," the company says.
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Companies are bringing satellite monitoring to the unconventional oilfield—namely the Permian Basin—where they are training machine learning models to track and predict drilling and completions work.
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Proved oil and gas reserves in the US have spiked to levels not seen before, the EIA reports, and one of the main drivers is the Permian’s Wolfcamp-Bone Spring Shale.
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Majors BP and Chevron have overcome development challenges and delays to launch their respective Clair Ridge and Big Foot projects.
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Helmerich & Payne’s first 100 years have required constant reinvention. Now the company hopes its new drilling software platform built on the acquisitions of two startups will propel it through the next century.
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The French major will become operator of the Ruwais Diyab concession, and ADNOC says additional companies are lining up to partner on the emirate’s other unconventional areas.
