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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Baker Hughes is developing a drill bit capable of auto-adjusting its depth-of-cut feature to handle dynamic drilling conditions. -
Low prices require doing things differently. It is a hopeful sign for the future for innovators who have been struggling to keep going and have potential customers with little to spend and a lot to worry about.
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The upstream industry is undergoing a transformation. Operators and service providers alike are not just tweaking or fine-tuning, they are completely rethinking the way they work.
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To survive in the current low-price environment, exploration and production (E&P) companies must better handle the complexities inherent in their projects through practices that promote capital effectiveness and collaboration.
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Influence is an important part of engineering. It is not enough to develop a brilliant design; you have to convince someone to build it. Intuition and reason are important factors in influence.
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In the Price of Oil, Roberto Aguilera and Marian Radetzki predict a dramatic increase in shale oil and other tight oil production from about 4 million BOPD today to as much as 40 million in 2035. This will have a limiting effect on oil price.
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One of the latest offshore innovations from Statoil is nothing flashy, which is the point. A drawing shows a plain, steel jacket, standing in water 110 m deep, topped with a flat metal deck.
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The deepwater blocks Mexico plans to lease to international operators in December are among the deepest, most remote, and geologically challenging in the world. But the difficulties of developing these areas will start onshore, where adequate and secure port facilities are few and far between.
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Holding little back, speakers at the annual IHS CERAWeek conference in February discussed how the industry has been shaped by the disruptive impact of North American shale production and predicted that many more months of financial pressure will spell the end for some companies.
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Russian oil production has remained on a growth path despite the plunge in oil prices because producers have built their business on producing oil for less than USD 30/bbl.
