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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.
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.
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.
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.
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.
The Iraqi Drilling Company (IDC) has announced the successful drilling of 13 new oil wells and the rehabilitation of 53 others across various oilfields, covering the period from January to 21st April 2025. Source: Ministry of Oil) The post Iraqi Drilling Company Completes 13 New Wells first appeared on Iraq Business News.
The appraisal well was drilled approximately 22 km north-east of the Heidrun field and 270 km north of Kristiansund. It is the third exploration well drilled in production licence 891, which was awarded during the Awards in Predefined Areas (APA) in 2016.
The report underscores a clear pivot: natural gas production growth in the Eagle Ford is expected to stall and decline into 2026 , primarily due to fewer drilling and completion activities planned by operators. The Eagle Ford won’t be a growth engine in that mix. dry gas production outlook. “We
Lets break down what Devon said and did across drilling , efficiency , and regional execution. We stayed focused on capital allocation, prioritizing high-return investments… with a resilient portfolio positioned to thrive in any market environment.
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.
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. In a volatile market, the drill bit slowsand spreadsheets take the wheel. That shift wasnt just wordsit came with action. But how does that translate on the ground?
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.) Correspondingly, Ovintiv has budgeted roughly $300–$325 million of capital to Oklahoma (Anadarko) in 2025.
From a health, safety and environmental (HSE) perspective, the integrated system mitigates the need for tandem lifts which minimises equipment damage risks and the amount of time drillingrig personnel are working in the red zone. All rights reserved | Tel: +44 (0)1252 718 999 | Email: enquiries@oilfieldtechnology.com )
This report aims to provide a detailed analysis of the latest rig count data, production trends, regional activity, and market dynamics, offering insights into the evolving landscape of the U.S. Overall Rig Count : The total number of active drillingrigs in the U.S. Oil Rigs : Fell by 1 to 486 this week.
This statement was followed by a planned reduction of three drillingrigs and one completion crew in Q2 2025, aligning with a $400 million cut to its full-year capital budget. The company remains agile, ready to ramp up or pull back based on pricing signals while continuing to return capital to shareholders.
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.
Rig Count: Holding Steady in the U.S. The company operated an average of 106 drillingrigs in the U.S. The Completion Services segment , in particular, saw a year-over-year revenue decline from $945 million to $766 million, although demand rebounded strongly from Q4 lows.
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. Land Drilling Squeeze: Insights from Nabors Q1 2025 Earnings appeared first on Oil Gas Leads.
Travis Stice explained Diamondbacks recent CapEx pivot: Taking $400 million out of our capital budget and three drillingrigs and one frac spread allowed us to maximize the CapEx reduction while minimizing volume impact. When Prices Fall What Gets Cut and Why Even with resilience, operators are pulling back where necessary.
For instance, one rig might report, TOOH f/xxx to BHA, while another writes, TOOH for DTF f/xxx. These inconsistencies make it difficult to compare performance across different wells and rigs. Without a standardized format for trips, drilling, rig moves, and downtime, cross-referencing and troubleshooting issues become much harder.
Premium connections, unlike regular ones, utilize precisely engineered threads and meticulously constructed seals within tight tolerances. The threaded pipe ends, often featuring premium threads, must endure accidental impacts during loading from the mill to the wellsite, as well as during on-site cleaning and inspection.
What sets intangible drilling costs apart is their intangible nature, as they are related to activities and services essential for the drilling process but do not involve the acquisition of physical assets like drillingrigs or equipment.
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