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(Reuters) - Ecuador state oil company Petroecuador said on Monday it plans to shut down a large drilling project in the Yasuni ecological reserve in the Amazon rainforest next August, following a referendum to end it to protect nature and indigenous people. Petroecuador CEO Reinaldo Armijos told reporters the company has a plan for the... Continue Reading →
(OM) Dril-Quip has installed its first 18-inch by 22-inch XPAK-De expandable liner hanger in a deepwater Santos Basin presalt exploration well. Petrobras operates the well for the Sagitario location, in partnership with Repsol Sinopec Brasil and Shell. Dril-Quip describes its XPAK-De range as premium liner hangers that can provide technical ratings beyond those of the liner pipe... Continue Reading →
(OE) Oilfield services players Halliburton and Oil States Industries have entered into a strategic collaboration that combines their technologies to provide deepwater managed pressure drilling (MPD) solutions. According to Halliburton, MPD provides operators with improved control when navigating narrow pressure windows compared to conventional drilling and the collaboration between Halliburton and Oil States will provide operators... Continue Reading →
(OE) Offshore drilling contractor Noble Corp. on Tuesday released a fleet status report, according to which the company has secured contracts for six offshore drilling rigs since its previous fleet report issued on August 2, 2023. The company has secured contracts for three drillships—the Noble Valiant, Globetrotter I, and Globetrotter II—and three jack-up drilling rigs—the... Continue Reading →
(PN) Petrobras informed the National Petroleum Agency (ANP) that it found new signs of oil in well 3-BRSA-1388DA-SPS, located in block S-M-623, where the Sagitario prospect is located. The discovery took place in a water depth of 1,866 meters, in the pre-salt of the Santos Basin. The first discoveries of signs of oil in block... Continue Reading →
(OE) Offshore drilling firm Transocean posted a net loss of $220 million for the third quarter of 2023, on revenues of $713 million. Net loss was higher compared to $165 million in the second quarter of 2023. Contract drilling revenues for the three months ended September 30, 2023 decreased sequentially by $16 million to $713... Continue Reading →
(Reuters) An appraisal well drilled by a consortium led by Exxon Mobil in Guyana has resulted in a "significant discovery" of oil and gas, the South American country's energy ministry said on Thursday. The Lancetfish-2 well results mark the fourth offshore discovery in the country this year, and brings the total number of discoveries from... Continue Reading →
(Reuters) U.S. oilfield technology firm Baker Hughes beat third-quarter profit estimates on Wednesday, driven by strong demand for its services and equipment in international markets. Energy firms booked record profits last year following a spike in commodity prices and have looked to invest these to boost production and find new deposits. The move benefited companies... Continue Reading →
(OM) Westwood Global Energy Group expects longer durations for offshore drilling rigs over the next year as rig availability continues to tighten. According to Teresa Wilkie, director of Westwood’s RigLogix service, 10-year tenders have been issued for two drillships for campaigns starting in early 2025. Marketed use of sixth to eighth generation assets is already at... Continue Reading →
(Reuters) - Halliburton (HAL.N) reported a 32% rise in third-quarter profit on Tuesday as higher international drilling and equipment demand helped overcome weakness in North America. Oil and gas companies, who rely on service providers for drilling, well construction and completion services, are reinvesting record profits from the market disruption caused by Russia's invasion of Ukraine to... Continue Reading →
