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Power system is a one of the most important part of drillingrig because it is needed to power up all drillingrig systems (rotary, circulating, hoisting, blow out preventer and monitoring systems etc.) Depending on rig horse power, there can be three or four engine Generator set. VFD mean variable frequency drive.
Working on a drillingrig is a complex and inherently hazardous occupation, requiring a meticulous approach to safety. With numerous risks present at every stage of the operation, it is imperative to prioritize safety as the foundation of all activities on the rig.
(Oil & Gas 360) ~20,000 net acres Significant multi-bench drilling inventory Upsize of USEDCs syndicated revolving credit facility led by Citibank, N.A. USEDC plans to run a dedicated drillingrig on the acquired acreage, making this acquisition a key component of USEDCs 2025 plan to invest up to $1 billion in U.S.
Energy Development Corp. Energy Development said the deal includes a proved producing component and expands the companys Permian holdings while increasing its multi-bench, multi-year drilling inventory. USEDC plans to run a dedicated drillingrig on the new assets. Fort Worth-based U.S. The post U.S.
Canada-based oil and gas company Valeura Energy has completed an eight-well drilling campaign in license B5/27 in Gulf of Thailand with Borr Drillings Mist jack-up drillingrig
In D&D Drilling & Exploration, Inc. XTO Energy, Inc. , D&D Drilling & Exploration, Inc. (“D&D”) D&D”) filed suit in the Seventh Judicial District Court of Concordia Parish against XTO Energy, Inc. (“XTO”),
H2 theFuture Synopsis: Louisiana Reimagined as an Equitable Energy State of the Future Since the invention of the first submersible drillingrig, launching the boom in offshore oil and gas exploration in the Gulf of Mexico and across the globe, South Louisiana has been at the center of energy innovation.
Anyone who wants to be well-versed in oil drilling must understand the crucial role of the blowout preventer (BOP). Ensuring the safety and efficiency of drilling operations is paramount in the oil and gas industry. One of the most critical components in a drillingrigs safety system is the blowout preventer (BOP).
Canada-based oil and gas company Valeura Energy has completed an eight-well drilling campaign in license B5/27 in Gulf of Thailand with Borr Drillings Mist jack-up drillingrig
The report said as of May 23 the latest weekly averages of active drillingrigs were 35.0 Devon Energy with 13.0, Diamondback Energy with 12.6, Coterra Energy with 10.6 for ExxonMobil and 22.1 for Occidental. Other leading operators in Permian are Mewbourne Oil with 15.9, EOG Resources with 15.1,
Detailed list of drillingrigs and Operators that spud wells in the Permian basin last 30 days. XTO Energy Inc.). Region The state or geographic region of the rig (e.g., County The specific county where the rig is located. Licensee The company responsible for the drilling operation. NM for New Mexico).
Ensign T138 The Ensign T138 drillingrig is part of Ensign Energy Services’ fleet, a company renowned for its advanced drilling technologies and global operations. Ensign T138: Operational Highlights Drilling Activity : In 2024, Ensign T138 drilled 25 wells for Diamondback Energy, primarily in Martin County, Texas.
Devon Energys first-quarter 2025 results reflect a disciplined, high-performance approach to drilling and capital deployment. Lets break down what Devon said and did across drilling , efficiency , and regional execution. per Boe, total production cost at $12.42
In its latest June 2025 Short-Term Energy Outlook , the U.S. Energy Information Administration (EIA) delivered a sobering update on the Eagle Ford Basin—once a crown jewel of U.S. shale development. Gas Forecast One of the most significant adjustments in the June forecast was a 700 MMcf/d reduction in the EIA’s 2026 U.S.
We are confident that, working together with ADNOC Drilling, the business will continue to grow and deliver outstanding performance for our customers. We look forward to expanding our broader strategic partnerships with key regional leaders across the energy value chain, in line with SLBs focused regional growth strategy."
Diamondback Energy’s Q1 2025 report signaled a clear shift in drilling strategy as the company responded to oil price volatility with calculated reductions in capital spending and activity levels. The company remains agile, ready to ramp up or pull back based on pricing signals while continuing to return capital to shareholders.
Energy Information Administration. Permian averaged 308 active drillingrigs in 2024 to account for more than half the rigs in operation (26 fewer rigs than in 2023). Even with the lower rig count, Permian production grew because well productivity improved. crude oil production. million b/d.
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. About Prairie Operating Co. Prairie Operating Co.
Below we summarize recent (2024–2025) drilling activity, budget allocations, and production volumes in Oklahoma (primarily the Anadarko Basin and related plays) for six companies: Ovintiv , Mach Natural Resources , Devon Energy , Coterra Energy , Continental Resources , and Mewbourne Oil Company.
Coterra Energy (NYSE: CTRA) released its Q1 2025 results with clear signals of capital discipline, operational focus, and strategic realignment amidst a volatile commodity environment. Below is a deep dive into the company’s drilling activity, capex decisions, rig utilization, and state-by-state footprint for the quarter.
Amidst soaring global energy demands, the oil and gas industry is constantly reinventing itself, seeking more efficient, eco-friendly production methods. The advent of intelligent drillingrigs, real-time monitoring, and predictive analytics has revolutionized production processes across the different facets of the industry.
Let’s delve into what makes drill pipes so crucial and how they contribute to this complex process. What Are Drill Pipes? Drill pipes are long, hollow steel tubes that form a key part of the drill string used in drillingrigs.
In Point Energy Partners Permian, LLC v. On June 13, 2017, MRC sent force majeure letters to the lessors claiming that it experienced a delay in the well’s drilling around April 21, 2017. MRC sued Point Energy seeking a declaratory judgment that the leases remained in full force and effect. MRC Permian Company , — S.W.3d
Volatility in commodity markets isnt just a headlineit shows up in real-world decisions, drilling schedules, and permitting activity. The company announced it would drop three drillingrigs and one completion crew in Q2 2025 , along with a $400 million reduction in full-year capital spending.
Patterson-UTI Energy (NASDAQ: PTEN) kicked off 2025 with a steady operational performance, a strategic focus on natural gas, and an unwavering commitment to drilling innovation. Rig Count: Holding Steady in the U.S. The company operated an average of 106 drillingrigs in the U.S. energy sector.
Mohamed said that Eni is considered a strategic partner in major energy projects in Egypt, commending its continuous efforts in supporting development plans. It is worth noting that Enis Saipem 10000 drillingrig is continuing developmental drilling operations as part of the fields development project.
Enverus Intelligence Research (EIR), a subsidiary of Enverus, an energy-dedicated SaaS company that leverages generative AI, released on Feb. 12 a report that analyzes recent inventories of drilling uncompleted wells (DUCs) and the implications for 2025 budgets. Key takeaways of the report include the following. (1)
In response, someone took exception to my claim by stating that he works in the industry, and drillingrigs are stacking up. It is correct that the rig count has fallen. According to data from Baker HughesBHI, the number of rigsdrilling for oil and gas has fallen by about 20% in the past.
These drill bits are crucial components in the drilling process and come in different types, each suited for specific conditions. DrillingRig: The equipment and machinery used to drill the well, including the rig itself, mud pumps, derricks, and other drilling apparatus.
From Drill Bits to Drones: Innovations in Texas Oil and Gas Production Introduction: As the energy demand continues to grow, so does the need for more efficient and sustainable oil and gas production methods.
Top 10 Operators Utilizing Cactus Drilling Several major oil and gas operators are leveraging Cactus Drillingrigs for their exploration and production programs. – 4 wells Top 10 Counties for Drilling Activity Drilling activity remains concentrated in specific counties with high levels of oil and gas production.
Due to weather conditions and the limitations of ATP’s contracted drillingrig, ATP was unable to get a well drilled prior to the lease expiration date. In denying ATP’s request for an SOO, the MMS relied upon its Notice to Lessees No.
Rig Activity: AKITA and Precision Lead The top-performing rig for Q1 2025 was AKITA 28 , logging 19 records , up from 12 in Q1 2024. Precision Drillingrigs also remained active, with Precision 300 and Precision 153 contributing 15 and 12 records , respectively.
This trend reflects a broader shift in investment strategies as investors seek to diversify their portfolios, hedge against market risks, and capitalize on the potential high returns offered by the energy sector. government offers a variety of tax incentives aimed at encouraging domestic energy production.
The slight recovery in drilling activity comes amid a challenging environment of fluctuating oil and gas prices, ongoing market uncertainties, and shifting priorities among energy companies. Despite the gradual decline in rig counts over the past two years, the U.S. Oil Rigs : Fell by 1 to 486 this week.
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. Related Information Why invest in North American energy, and why now?
In todays volatile energy landscape, shale operators are leaning into a familiar playbookone forged through cycles of boom, bust, and adaptation. Tariffs: A Manageable Drag, But Not Ignored While energy goods have largely been exempt from tariffs, their secondary impactsespecially on materials like casingare being felt.
Rig churn placed pressure on utilization and operating expenses, stated CEO Anthony Petrello during the earnings call. Operating inefficiencies from elevated rig churn primarily led to the decline in daily margins. What does that mean? decrease Civitas Resources 2024Q1: 11 wells 2025Q1: 0 wells 100.0% decrease U.S.
A boe conversion rate of 1 bbl : 6 mcf is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.
A Multi-Pronged Strategy to Sustain Growth Beyond Tight Oils Crown Jewel The transformation of the United States into a global energy powerhouse over the past two decades is inseparable from the fracking-led renaissance of the Permian Basin. energy industry. million b/d.
The Agreement allowed Anadarko to place a drillingrig on the surface and to drill through the earth to form wells that open and bottom in the CWMA. Lexis 8673 (Aug. Lightning held a mineral lease on the adjacent estate, and upon learning of Anadarko’s plan, sought an injunction.
Smart Fabricators of Texas (“SmartFab”) fabricates steel and repairs oil and gas drilling equipment. Its employees work at its shop and yard and occasionally on jacked-up drillingrigs, often docked to inland piers. Gilbert Sanchez, a welder-fitter employed by SmartFab, never went to sea on vessels. 3d at 555.
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