Highwood Equipment Technologies Inc. is transporting two of the world’s most advanced automated well service rigs to the Sultanate of Oman.
Schlumberger’s decarbonization plan leverages technology to address operational emissions, customer emissions, and carbon-negative actions.
Utilized as either a bar-drop or a hydraulic firing head, this latest addition is an economical solution to maintaining two different firing head inventories, while allowing the operational flexibility to run either type of toolstring.
The world’s biggest oilfield contractor joined rivals Halliburton and Baker Hughes this week in predicting expansion in overseas work and a more muted recovery in North America through the rest of 2021. Global oil demand should return to pre-pandemic levels by the end of next year, if not sooner, Schlumberger CEO Olivier Le Peuch told analysts on Friday.
“I expect international activity growth to accelerate, and the early positive momentum in North America gives me confidence in the activity cadence for the rest of the year,” CEO Jeff Miller said in a statement. “I am optimistic about how this transition year is shaping up.”
While it’s true the energy ecosystem is in transition, former Vice President Biden is incorrect that it means replacing one form of energy with another or phasing out oil and gas.
NTS Group has acquired Amega West Services, a market leader in the manufacture, repair and rental of legacy and specialized drilling equipment used in offshore and land-based oil & gas extraction applications, from Carpenter Technology Corporation.
NOV recently delivered the world’s longest and heaviest coiled tubing work string, which comprised 7.57 miles of continuously milled carbon steel tubing.
The Permian in New Mexico, unlike in Texas, lies largely on federal land. And Biden, the Democratic candidate for president, has promised to ban new fracing on federal land on “day one” if elected.
The monthly Oilfield Services and Equipment Employment Report, compiled and published by the Petroleum Equipment & Services Association, shows total job losses due to pandemic-related demand destruction reached 103,420 in August. OFS employment is down more than 121,000 jobs since August 2019 and is at its lowest point since March 2017.
“Customer demand has told us to grow at this pace, and then deals like this come to us,” Liberty CEO Chris Wright said in an interview after the deal was announced on Tuesday. “Our goal with this acquisition is to keep getting better, but to the extent we succeed at that, it probably leads to us being the leader sometime down the road.”
Liberty Oilfield Services Inc. and Schlumberger announced an agreement for the contribution of Schlumberger’s onshore hydraulic fracturing business in the United States and Canada, including its pressure pumping, pumpdown perforating, and Permian frac sand businesses to Liberty, in exchange for a 37% equity interest in the combined company.
Abu Dhabi has been merging some companies as it looks to bolster the economy and diversify from hydrocarbon production. Earlier this year, it decided to combine utilities Taqa and ADPower.
“As oil demand recovers, I expect the international business will continue to be a more meaningful contributor to our revenue going forward,” Chief Executive Officer Jeff Miller told analysts and investors during a conference call. “North America production is likely to remain structurally lower in the foreseeable future and has slower growth going forward.”
“At a time when renewables have developed from niche technologies to global industries, Aker’s ambitions exceed the announced spin-offs in Aker Solutions,” Aker Chief Executive Officer Oyvind Eriksen said in a statement. “We take an active role to position ourselves in a broader and rapidly growing renewable energy industry.”
Joe Biden’s climate-change plan unveiled Tuesday includes $2 trillion in spending over four years with a goal of a 100% clean-energy standard by 2035. That’s more spending over a shorter period than the $1.7 trillion, 10-year plan that Biden had offered during the Democratic primary.
Weatherford International signed an 18-month contract with the Iraqi Drilling Company to provide services and project management for the drilling and completion of twenty wells in the Al-Nasiriyah field in the Dhi Qar province in southern Iraq.
Independent global completions service company Tendeka has been awarded a five-year contract extension to supply a major operator with zonal isolation technologies for all fields in Oman.
Halliburton introduced the DynaTrac Real-Time Wireless Depth Correlation System, a new technology that reduces uncertainty and saves rig-time by enabling operators to accurately position packers, perforating guns and the bottom-hole assembly without running wireline or moving the work string.
Brett Darley, Executive Vice President, Offshore, Santos, commented, “Weatherford provided a solution that enabled Santos to execute a safe, efficient tubular running operation with hands-free technology. Safety is extremely important at Santos and Weatherford delivered an outcome with zero incidents and zero near-misses.”
Weatherford's automated connection integrity system has successfully completed 100 runs and 33,000 tubular connections in operations worldwide.