Drilling

Oil

Oil price drop hasn’t dented market for new drilling gear

Source: 
Platts

The oil industry still has a strong appetite for buying new land drilling equipment even in the face of falling crude prices, Platts reports.

Oil

More North Slope drilling from ConocoPhillips and partners

Source: 
Platts

ConocoPhillips, alongside partners including BP and Exxon Mobil, has announced what it says is the first new drilling in the North Slope’s Kuparuk River Field in nearly a dozen years, a well to come on line in 2016 that will add 8,000 barrels a day of production, Platts reports.

Oil

US rig count up 9 to 1,927

HOUSTON (AP) — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. rose by nine this week to 1,927.

The Houston firm said Friday in its weekly report that 1,595 rigs were exploring for oil and 332 for gas. A year ago there were 1,738 active rigs.

House Oversight and Government Reform Committee photo

Energy, climate change among Interior's top challenges: IG

The Interior Department's weaknesses in managing the nation’s sprawling public lands oil and gas holdings continue to pose ongoing challenges that could extend into its offshore renewable energy push, its internal watchdog reported Thursday.

Climate change also presents another significant headwind for the department, according to an annual report on top management and performance challenges published Thursday by Deputy Inspector General Mary Kendall.

Oil

Gulf of Mexico deepwater find for BP, Chevron

Source: 
FuelFix

A discovery well has hit oil some 180 miles off the Louisiana coast, in deep water in the Gulf of Mexico, BP and Chevron announced Thursday, FuelFix reports.

Oil

Methane leaking in quantity in Bakken, Eagle Ford: Study

Source: 
E&E

Some ten percent of natural gas produced in drilling fields like those in the Bakken and Eagle Ford shale – most of which is methane -- leaks into the atmosphere, according to a study published in the journal Earth’s Future, E&E reports.

Oil

Nabors chief says lower oil prices could boost market for newer rigs

Source: 
FuelFix

Oil prices around the $80 dollar a barrel mark may galvanize the market for advanced drilling rigs, Nabors Industries CEO Anthony Petrello said in a conference call Wednesday, FuelFix reports.

Oil

Philippines pushes arbitration in China sea dispute

MANILA, Philippines (AP) — The Philippine president said Wednesday that the international arbitration Manila has initiated to challenge China's territorial claims in the South China Sea and a legally binding "Code of Conduct" are the only ways to settle the long-raging disputes peacefully.

The Philippines says that China has been intruding into its exclusive economic zone, including deploying two hydrographic ships in June near an offshore oil well inside Philippine waters. Philippine President Benigno Aquino III has said Manila is uncertain of the purpose of the ships' presence at the Reed Bank.

Oil

Report oil found in Paraguay; gov't cautious

ASUNCION, Paraguay (AP) — A British energy company said on Monday that it made its first major oil discovery in Paraguay's Chaco Basin, though the government said it's too soon to tell if the find is commercially viable.

Shares of London-based President Energy doubled after the oil explorer announced the discovery of light oil in the Lapacho well some 280 miles (450 kilometers) north of the capital, Asuncion. The company said the find is "expected to be commercial."

Oil

US rig count down 12 to 1,918

HOUSTON (AP) — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 12 this week to 1,918.

The Houston firm said Friday in its weekly report that 1,590 rigs were exploring for oil and 328 for gas. A year ago there were 1,739 active rigs.

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