Asset Management
The Houston-based developer of AI-powered submersible robotics earned the Best in Show Award and a $10,000 prize.
Industry fundamentals continue to strengthen as rising utilization and scarce replacement capacity support higher rig valuations.
The GRMS system of standardization and classification for geothermal resources, led by a coalition of stakeholders in collaboration with Project InnerSpace and the Society of Petroleum Engineers, will be published in November.
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Oil prices appear to have stabilized during the past year, and speakers at the annual Energy and the Economy Conference at the Dallas Federal Reserve Bank say they expect prices to remain level, at least for a little while. -
The new venture will operate several deepwater assets—including the Cascade, Chinook, Medusa, and Thunder Hawk fields.
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The North Sea field, which holds an estimated 300 million BOE in recoverable resources, is now scheduled to start production in early 2020. Operator Equinor said the timeline was based on its assessment of the remaining scope of work on the project.
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Eni plans to buy a portion of BP’s interest in Libya’s Ghadames and Sirt Basins in an effort to relaunch exploration activity there next year.
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The merger of Ensco and Rowan creates a company with growing cash flow from the biggest fleet of jackup rigs, and growth potential as deepwater drilling comes back.
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The Port Fourchon, Louisiana, facility will serve as the base for the company’s operations in the area. Its subsea services group has performed multiple hydrate remediation projects in the US Gulf of Mexico since its formation.
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The union marks the first time an international company has taken a direct equity stake in one of ADNOC’s service companies. BHGE will expand its presence in UAE, while ADNOC will gain access to BHGE technological expertise and proprietary equipment.
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The Federal Reserve Bank of Dallas’ quarterly survey of operators and service companies shows an industry still confident in its near-term growth prospects. However, concerns remain about a number of issues, ranging from the steel tariffs to crude oil price differentials in the Permian.
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Fracturing two or more wells at the same time creates connections. While fracturing fluids reach out further, those ties create a stronger link, though not forever.
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Well-placement optimization is one of the more challenging problems in the oil and gas industry. Although several optimization methods have been proposed, the most-used approach remains that of manual optimization by reservoir engineers.
