Industry at a glance
Crude oil prices fell for the third month in a row during September, and continued to slide into October. Brent fell 20% from mid-summer peaks, while West Texas Intermediate dipped to a four-year low, below $86/bbl. Sagging demand and copious supply promise to put even more downward pressure on prices. Natural gas prices trended lower as well, staying below $4/Btu on the Henry Hub exchange. U.S. crude production topped 8.8 MMbpd, almost 14% higher than a year earlier. The number of drilling rigs running in the U.S. fell slightly, remaining around 1,930, while worldwide, the rig count held steady at 1,730.
- Applying ultra-deep LWD resistivity technology successfully in a SAGD operation (May 2019)
- Adoption of wireless intelligent completions advances (May 2019)
- Majors double down as takeaway crunch eases (April 2019)
- What’s new in well logging and formation evaluation (April 2019)
- Qualification of a 20,000-psi subsea BOP: A collaborative approach (February 2019)
- ConocoPhillips’ Greg Leveille sees rapid trajectory of technical advancement continuing (February 2019)