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Location: British Columbia & Alberta | Precision Drilling Partnership The Montney formation — long known for its stacked resource potential — is now becoming equally famous for technological innovation. At the forefront is PD 868 , North America’s first land-based drillingrig equipped with modular robotics to automate pipe handling.
A statement issued by Shana News Agency announced completing the drilling operations of an oil well in the Bibi Hakimeh field at the beginning of the year 1404 (March 21). The operations started last year and completed in 58 days using the Fath 86 drillingrig.
Given the sector’s complexity and geographical spread—from remote drillingrigs to refineries and distribution terminals—logistics is a key driver of efficiency and profitability. Supply Chain Coordination Integrating vendors, freight forwarders, customs brokers, and field operations.
The new drillingrigs boast high operational efficiency, faster well completion, and easy mobility between sites at a lower costenhancing the execution of plans in a more efficient and cost-effective manner, said Mohamed Abdel Mageed, Chairman of GPC, in a report to the Ministry of Petroleum and Mineral Resources.
He further noted that IDC remains Iraq's primary national arm in the field of oil well drilling and maintenance, supported by its accumulated expertise, a modern fleet of drillingrigs, and highly skilled personnel.
The well was drilled to delineate the discovery confirmed in well 6507/5-10 S (Slagugle) and to perform a formation test to gain a deeper understanding of the reservoir properties and connectivity within the hydrocarbon-bearing layers. The Deepsea Yantai drillingrig, operating in a water depth of 341 m, was utilised for the drilling.
Here are the five biggest trends to watch: Permian Basin Account Directory – $10 Buy Now Includes: Account Name, Location, Phone, Website, Wells Drilled…… 1. In Q2 2025, the company dropped three drillingrigs and one completion crew, shaving $400 million off its capital budget.
While some experts expect a short conflict and easing prices, others warn a complete shutdown of the strait could send oil prices soaring to $120-$130 per barrel, hurting global consumers. Read more US oil rig count down by 1, says Baker Hughes Summary : For the week ended June 20, the total U.S.
This plan represents a continued, albeit measured, program – likely equating to about 1–2 drillingrigs running. Indeed, industry data indicates Ovintiv added an extra rig in Oklahoma early 2025 as gas prices improved.) For instance, in 2021–22 when public, Continental was spending nearly half its drilling budget in Oklahoma.
A Top Hand has not only achieved success in his chosen field, but exhibits the finest qualities of leadership, stewardship, and community involvement. Summit runs two-to-three drillingrigs and has a capital budget of about $250 million. Its January 2025 production is approximately 28,000 BOEPD.
Updated Guidance and Long-Range Plan Upon completion of the Montney dispositions, Strathcona will be a pure-play heavy oil company producing approximately 120 Mbbls / d (100% oil, 95 Mbbls / d thermal, 25 Mbbls / d conventional) with a 50-year 2P reserve life index and positive net cash (including marketable securities).
It involves locating, surveying, drilling, and extracting crude oil and natural gas from underground reservoirs. Key Processes: Exploration, reservoir analysis, drilling, well completion, and production. Assets: Upstream assets include oil and gas fields (land and mineral rights), drillingrigs, production platforms, and wells.
net) wells were drilled in southeast Saskatchewan, six (1.2 By the end of the period, all wells had been successfully completed, equipped and tied-in, with IP30 rates available on the majority of wells brought on production. A total of 26 (22.3 net) wells in West Saskatchewan and one (1.0 net) well in Alberta.
Category C: Drillingrigs capable of performing all well operations through marine riser and BOP. Category D: Production Drilling, with focus on completion and intervention needs. Type 1 and type 2 vessel-based approach provides cost savings compared to the contracting of a drillingrig. MODUs or cat.
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