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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.
QA/QC Drilling at Selebi Mine Project was completed by Mitchell Drilling of Botswana utilizing a Sandvik UDR1500 and a Boart Longyear LF-160 diamond drillrig. Drill core samples (47.75mm NQ) are cut in half by a diamond saw on site. Drill core samples (HQ: 63.5 Samples are generally 1.0
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.
The first well was spud on April 1, 2025, utilizing Precision E-DrillingRig 461, as part of the Companys continued strategy to expand production and enhance operational efficiencies in the Denver-Julesburg (DJ) Basin. Drilling is expected to be completed by early June, with hydraulic fracturing commencing shortly after.
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).
Rig Churn: The Quiet Margin Killer Nabors was candid about what weighed down U.S. results: elevated rig churn. Rig churn placed pressure on utilization and operating expenses, stated CEO Anthony Petrello during the earnings call. Thats a drop of $664 per day per rig, which becomes material across a large fleet.
I thought it would be pertinent to write something on the plug and abandonment (P&A) of subsea assets utilizing a Light Well Intervention Vessel (LWIV). Light Well Intervention Vessels have been used for over 30 years in the North Sea, and their utilization has spread globally over previous decades. Heavy intervention capability.
Below is a deep dive into the company’s drilling activity, capex decisions, rigutilization, and state-by-state footprint for the quarter. Quarterly Drilling Activity: 2024 vs 2025 Coterra drilled: 88 wells in Q1 2024 43 wells in Q1 2025 This marks a 51% year-over-year decline in Q1 drilling activity. .
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.
25] In addition, the operator was unable to move a drillingrig onto the wellsite due to weather in February 2004, and as a result, the operator had to pay standby time for the rig. [26] Here, it is clear from the language of the statute that a notarial affidavit of correction may correct only a “clerical error.” However, art.
Besides the need for more juice to drive drilling activity (yes, Im talking about electricity powered drillingrigs), electrification of completion, production, compression, and transport operations is also growing the increasing power demand in the region. Experts are scrambling to determine how to deliver that power.
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