Featured Oilfield News
In a rare operations update call, Halliburton Chairman and CEO Dave Lesar said the company is spending more money now to protect market share and ensure stronger profits in the future. The plan to “frontload as much of the costs as we can” will mean weaker profits short term to better position Halliburton in the future.
“We are coming off of a historic trough, so what we have to add back is almost unprecedented,” Lesar said, warning that its first-quarter earnings won’t be as strong as previously projected.
Source: Alvin Sun
The Brazoria County Sheriff’s Office responded to the 19000 block of Highway 35 in Brazoria County in reference to an industrial accident at the Denbury Resources Oil Field that resulted in the death of a Pryor Packers Inc. employee.
Lt. Varon Snelgrove, public information officer with the Brazoria County Sheriff’s Office, said the employee has been identified as Antonio “Tony” Perez, 43, of El Campo.
Compared to the past two major Williston job fairs, Billehus said more excitement was in the air as the oil industry rebounds from the recent slowdown.
Calgary-based Enbridge says the layoffs, amounting to about six per cent of the 17,000 employees of the combined company, stem from the merger that closed Feb. 27.
Source: Maritime Executive
The fatality occurred onboard the drillship Pacific Santa Ana. The ship, owned by Pacific Drilling, was operating approximately 250 miles south of Lake Charles, Louisiana. She was under contract to Chevron USA and drilling an exploratory well at the time.
The drill crew onboard was in the initial stages of the drilling process, lowering the Bottom Hole Assembly and 36 inch structural casing to the sea floor in order to begin making the well. This process involved work on the drill floor to successively connect lengths of pipe and lower them through the rig’s main drill center.
"Developing domestic sources of energy is of vital importance to our nation," Christopher R. Brooks, special agent in charge of U.S. Environmental Protection Agency's criminal enforcement program in Louisiana, said in a statement. "This development must be done responsibly and safely to protect public health and the environment."
Source: Houston Chronicle
Downhole Technology, which makes fracturing plugs for completion of oil and gas wells, was accused by the federal agency of failing to take prompt remedial action after Kenneth Echols, who is African-American, reported the incident to company officials and then retaliating against him for reporting the conduct.
Neither company officials nor its lawyer returned calls for comment.
Source: Oilfield Technology
The fully customisable system brings new benefits to deepwater operators for completion and intervention work that improve critical well control of the subsea safety system, tubing hanger and deepwater subsea field developments.
Halliburton collaborated with customers to design a system that is simpler to test, easier to assemble, faster to activate and configurable to individual customer and project requirements. It can isolate the lower landing string in as little as six seconds or less, disconnect from the lower landing string in as little as ten seconds or less and provide downhole data for greater confidence in decision-making.
The Woodlands-based oil explorer has begun laying the groundwork for expanded drilling operations in places like the Delaware Basin in West Texas, and the company’s oil-production growth could eventually surge after 2017, Anadarko CEO Al Walker told investors.
“As we come out of a trough, we can’t just immediately turn on a dime and expect to go back to where we were before the last two years,” Walker said.
Source: Daily Disruption
There is a crater of fire about the size of a football field in the middle of the Karakum Desert in Turkmenistan. The crater has been burning continuously for almost 50 years. Locals call it the “Door To Hell.”
The crater is officially known as the Darvaza gas crater. The crater is not volcanic and has no magma contrary to common belief. The Darvaza crater is a man-made pit.
Keppel Corp., the world’s biggest oil rig builder that eliminated more than 10,000 jobs last year, said even a doubling of crude prices is failing to offer relief to an industry slammed by overcapacity as it braced for a prolonged slowdown.
While OPEC’s recent decision to cut output renewed optimism, with spending by some oil majors expected to increase, a quick recovery isn’t in sight, Chief Executive Officer Loh Chin Hua said. The company, which reported a 65% drop in net income last quarter, said it is closing some yards and signaled additional job cuts as part of efforts to pare costs.
Source: 12 News
Just before 10:30 a.m. the Sheriff's office and the Saratoga Fire Department responded to an industrial accident in an oilfield off Rosier Park Road in Saratoga the release said.
Source: RD News Now
For the 32-year-old, whose family moved to Canada 20 years ago, his new profession offers hope of a better life after 15 years working at low-paying hotel and mechanic shop jobs in Alberta and New Brunswick.
"I would like to see it as a career," he says. "As of right now, definitely, I'm just going to throw myself into it as if I plan on doing it for the rest of my life and go from there."
That’s music in the ears of American frackers, who have been bringing oil rigs back to life at a feverish rate—111 in the last two weeks alone; countering Saudi oil cuts, and keeping oil prices in the $50 to $60 range, for now.
Still, Saudi Arabia’s output cuts are just the beginning of a trend that is expected to last for months and years to come, irrespective of what American frackers do.
Source: Global News
The Calgary-based group now says it expects 5,150 wells to be drilled this year, up 23 per cent or 975 wells over its forecast in early November.
President Mark Salkeld says the industry is slowly recovering after more than two years of sliding activity due to oil and gas producers slashing drilling budgets to deal with reduced profits from lower oil and gas prices.
Source: Houston Chronicle
The U.S. travel ban on citizens of seven predominantly Muslim nations could backfire on American energy companies - many with headquarters or large operations in Houston - as they try to forge delicate ties with countries like Iraq for a share of the bountiful oil fields.
President Donald Trump's executive order on Friday restricted travelers from three major oil-producing nations, Iraq, Iran and Libya, sparking international controversy and stoking industry fears that these countries could seek payback against U.S. drillers and oil-equipment suppliers.
Court says Anglo-Dutch company, along with Italy's Eni bought the bloc in 2011 knowing the transaction was "fraught with fraud"
Nigeria is seizing back one of Africa's richest oil blocs and will prosecute petroleum giants Shell and Eni in a $1.2 billion corruption scandal that has drawn investigators from the United States, Italy, France, Switzerland and Holland, according to a Nigerian Federal High Court document.
Source: Houston Chronicle
The so-called Big 3 services companies - Schlumberger, Halliburton and Baker Hughes - all lost money in the fourth quarter of 2016, but they're also all seeing their revenues grow in the U.S. shale basins as drilling and hydraulic fracturing activity pick back up, especially in West Texas' suddenly booming Permian Basin. The rest of the world and offshore are lagging behind.
"Everything starts and stops with North America," Baker Hughes Chairman and CEO Martin Craighead said Thursday. "We're on the cusp of a sustained recovery, and the question is timing and intensity."
Source: Houston Buisiness Journal
Houston-based Halliburton reported Jan. 23 that its net loss was more than $5.76 billion, or $6.69 per share, for 2016 and about $671 million, or 79 cents per share, for the fourth quarter. Excluding special items, Halliburton reported adjusted income from continuing operations of 4 cents per share for the quarter, beating analysts’ expectations of 2 cents. For the year, the adjusted loss from continuing operations per share was 2 cents, beating the expected loss of 5 cents, according to Yahoo Finance.
Source: Radio Free Europe
The protest initially involved about 90 people, but expanded considerably on January 17 when hundreds more joined the hunger strike.
Source: Enid News
An SUV was involved in the explosion about 2 1/2 miles west of Waukomis and one mile south on Flynn between Garland and Wheatridge. Niles said local authorities contacted Oklahoma Corporation Commission’s oil and gas division to investigate the explosion.
DRILLING RIG LOCATOR