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Drilling services provider, Valaris has landed new contracts and extensions for its drilling rigs, with approximately $285m in associated revenue backlog. The drillship Valaris DS-18 (Relentless) has been granted contract extension with EnVen in the US Gulf of Mexico. Valaris also landed contracts and extensions for DS-15, JU-292, JU-290, JU-249, JU-144, and others.
ADNOC's susidiary ADNOC Drilling has announced the launch of a major rig fleet expansion program. This will support ADNOC's upstream growth plans and would support its 2030 Smart Growth Strategy. ADNOC's Upstream Executive Director said, "ADNOC Drilling’s rig fleet expansion underscores ADNOC’s drive to unlock and maximize value from Abu Dhabi’s vast hydrocarbon resources and will further improve drilling and well-completion efficiencies".
Halliburton has introduced a new logging-while-drilling technology, PixStar High-Resolution Ultrasonic Imaging Service. With the help of this new technology, operators will get real-time images of the borehole which will make it easy for them to identify fractures. It will also improve well stability and optimize completion design. PixStar has ultrasonic transducer through which high-resolution images are developed.
Halliburton has brought a new measurement while drilling (MWD) technology to the industry that will make drilling operations more efficient. QuickPulse Automated Directional Gamma Service by Halliburton combines directional, vibration and gamma-ray sensors with a strong transmission. It has the capability to overcome any downhole interference. The transmission of data takes place in every three seconds which makes it impressively quick.
India's largest petroleum explorer Oil and Natural Gas Corporation (ONGC) will invest Rs 4,254 crore to drill 656 wells. These wells will be drilled in 52 Petroleum Mining Lease (PML) in the company’s Ahmedabad asset in Gujarat. The drilling activity is planned from 2019-20 to 2025-26. Also, the firm has planned a complete roadmap for its growth for the next two decade.
Danish drilling major, Maersk Drilling has secured a £6.2million contract to carry out drilling activities for an appraisal well at a central North Sea field. Maersk will perform drilling at the Birgitta field for Oman-based Petrogas. With an additional 20-day option, the contract is projected to commence in March 2020 for an expected 70 days.
Guinean Minister of Hydrocarbon and Mines yesterday informed that Noble Energy has discovered oil in Block 1 offshore Equatorial Guinea. The US oil firm is looking to produce new oil from the block by October. Noble Energy encountered oil by drilling the Aseng 6P well for more than 4,000 meters. Noble operates the Aseng field with a 40% stake, where Glencore, Gunvor and Atlas Petroleum are partners.
Norwegian energy major, Equinor yesterday reported a light oil discovery in the Sputnik exploration well in the Barents Sea. The recoverable resources from the discovery has been estimated to be approximately 20-65 million barrels of oil (MMbbl). The Sputnik well was drilled in the PL855 licence, situated about 30 km northeast of the Wisting discovery. The PL855 licence is operated by Equinor, where OMV and Petoro are partners.
A new single-trip openhole and sidetrack system has been launched by Weatherford. The system can initiate sidetrack operations without a cement plug. AlphaST will enhance operator flexibility, eliminate multiple trips, and avoid costly cementing operations. Weatherford's President said, "AlphaST enables operators to avoid the cost and time of setting a cement plug; waiting on cement to dry and time drilling".
With an aim to enhance the drilling efficiency, Halliburton has released first 3D reservoir mapping technology. This is a new logging-while-drilling (LWD) capability which will significantly improve well placement in complex reservoirs. It will give a detailed representation of subsurface structures. "In complex formations, visualizing data in a 3D environment helps operators significantly enhance reservoir understanding to drive better drilling decisions and maximize asset value", said VP of Sperry Drilling.
A major drilling operator has reportedly saved C$130k and avoided multiple trips per section by using CougarTM Mechanical Thruster in a production field of Alberta. The operator was drilling a 311 intermediate hole, and was forced to spend an average time of two days per section. Designed and manufactured by Canada's leading drilling solutions provider, Cougar Drilling Solutions, the Mechanical Thruster reduces the severity of shock and vibration downhole.
Oilfield services giant, Halliburton has secured an integrated offshore drilling services contract from Kuwait Oil Company. The contract pertains to exploration well in the Arabian Gulf. Halliburton will provide and manage drilling, fluids, wireline and perforating, well testing, coring, cementing, coiled tubing, and all offshore logistical services. The contract also requires Halliburton to deliver the offshore rigs and supply vessels for the project.
Cairn Oil and Gas has planned to invest Rs 7,924 crore on various sectors of upstream over the next decade. The company has strategized the drilling of additional 123 exploration and development wells at Ravva oil field in Krishna Godavari basin off the Andhra coast. In the last financial year, the company's average daily working interest production from Ravva field declined by 13%.
To pay for its share of drilling costs, Cluff Natural Resources (CLNR) has raised £15m through placing of 854.2million shares with new and existing investors. Shell has recently completed a 70% farm-in to the P2252 licence in the southern sector, containing the 100 million-barrel Penascola prospect. It also signed a deal to farm in 50% to Cluff’s P2347 licence which contains the Selene discovery.
Oil supermajor Shell has announced about achieving production at the 175,000 boed Appomattox floating production system in Gulf of Mexico, months ahead of schedule. Shell upstream director, Andy Brown said, "That Appomattox was safely brought online ahead of schedule and far under budget is a testament to our ongoing commitment to drive down costs through efficiency improvements during execution,". Appomattox has seen more than 40% reduction in costs since 2015.
Italian oil major, Eni has informed about discovering gas and condensate in CTP-Block 4, offshore Ghana. Eni used the Maersk Voyager drilling ship to drill the well on the Akoma exploration prospect, uncovering an estimated volume of 550-650 bcf of gas and 18-20 mmbbl of condensate. Eni operates the CTP-Block 4 where Vitol Upstream Tano, GNPC, Woodfields Upstream, and Explorco are partners.
Halliburton has introduced new technology in the market, Flex Managed Pressure Drilling System (MPD). It is a scalable and mobile technology which is designed to deliver greater rig efficiency. It assists the driller to control backpressure or choke position while drilling, tripping and making connections by providing a single, straightforward display. By deploying real-time hydraulic modelling, the system can also be used as a full MPD solution.
Louisiana-based LLOG Exploration has entered into an asset exchange and joint participation agreement with Repsol E&P USA. The agreement pertains to Gulf of Mexico, and will provide for drilling operations of a delineation well at Repsol’s Leon discovery and also cover for blocks in Keathley Canyon. Additionally, Repsol will purchase stakes in the LLOG-operated discovery Moccasin in Keathley Canyon.