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built offshore wind substation departed from a Texas fabrication facility where Danish multinational energy company, Ørsted, and domestic energy provider, Eversource, partnered to build the revolutionary vessel. The Kansas-engineered substation was designed and built by Kiewit Offshore Services, Ltd., the largest U.S. 1331 et seq.
Combined with a new contract win for Safelift’s Offshore division, the agreements are worth over £800,000 in revenue for the business. This, coupled with their excellent technicians, who work alongside the in-house team, ensures that downtime is kept to a minimum.” For more information, visit safelift.co.uk.
Here is a summary of the U.S. rig count changes based on your update: National Overview Total U.S. Here is a summary of the U.S. rig count changes based on your update: National Overview Total U.S.
million bpd ( from 6.57 million bpd in March) Macro Commentary This marks the third consecutive weekly decline in rig activity, driven by oil price pressures and a strategic shift by operators toward shareholder returns over production growth.
Rig Count Drops Again But Production Still Forecast to Rise For the week ending May 16: U.S. bpd in 2024 to 13.4M bpd in 2025 Gas production: Expected to increase to 104.9 bpd in 2024 to 13.4M bpd in 2025 Gas production: Expected to increase to 104.9
Overall Rig Count : Total U.S. rig count held relatively steady this week, with only a modest overall decline. As commodity prices and demand forecasts continue to evolve, rig count trends will remain a key indicator to watch for future production shifts.
million bpd in 2025 , even with falling spot prices. With the EIA projecting record U.S. crude output in 2025, even amid softening prices, the latest rig count underscores the industry’s resilience and its strategic approach to navigating a volatile market.
However, industry leaders at CERAWeek warn that infrastructure constraints could pose long-term challenges. crude production to hit record highs for the next two years before plateauing later in the decade. Gas drillers, in particular, may ramp up activity if prices rebound as expected in 2025.
Offshore drilling activity increased , with the rig count rising by one to 14. Oklahomas drilling activity was unchanged at 49 rigs , reflecting stable operations in the region. Texas saw a decline of one rig , bringing its total to 281 , while New Mexico remained at 105. Kansas added a rig (16 total), while Colorado lost one (8 total).
The facility will act as a hub for advanced engineering and train highly skilled technicians in-country, contributing to the development of local talent. The proof-of-concept is the first phase in a potential multi-stage deployment that could see the technology incorporated more widely across ADNOC L&Ss offshore logistics operations.
The real Achilles heel of the whole thing is that the market is completely artificial, he declared, alluding to the fact that this niche leans heavily on government-mandated carbon credits and Inflation Reduction Act funding to cover costs. Onshore or offshore, the considerations are mostly the same.
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