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Saudi oil and gas drilling contractor ADES Holding has secured a contract with Addax Petroleum, part of Sinopec Group, for its Admarine 510 jack-up drillingrig
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.
Lime Petroleum, a subsidiary of Rex International, has signed a contract with Borr Drillings affiliate Borr Gerd Limited for a jack-up drillingrig, which will
operators to report an increase in active drillingrigs in the past year, according to Enverus’ latest Drill Down Report. ExxonMobil reported 39 working rigs as of July 4 (weekly average of 36.9 for an increase of 1 rig from 35.9 Occidental Petroleum reported 28 rigs (weekly average of 27.0
Malaysias oil and gas services firm Velesto has secured a drilling contract by Phu Quoc Petroleum Operating Company (PQPOC) for its NAGA 4 jack-up drillingrig
Malaysias oil and gas services firm Velesto has secured a drilling contract by Phu Quoc Petroleum Operating Company (PQPOC) for its NAGA 4 jack-up drillingrig
Read more US oil rig count down by 1, says Baker Hughes Summary : For the week ended June 20, the total U.S. active drillingrig count fell by 1 to 554, marking a continued decline and sitting 34 rigs below the count from the same time last year. Read more Iran has an oil card to play. So does the U.S.
Oil majors ExxonMobil and Occidental Petroleum are the top operators in Permian Basin, according to a report May 27 from Enverus. The report said as of May 23 the latest weekly averages of active drillingrigs were 35.0 for ExxonMobil and 22.1 for Occidental. Other leading operators in Permian are Mewbourne Oil with 15.9,
Dennis Johnsonfounder, chairman, and CEO of Summit Petroleum LLCis someone who fits that description. He founded Summit Petroleum with his son Matt in 2007 and oversaw planning and development of the familys recently completed Summit Center, a 20-acre office/retail/park complex in north Midland.
million b/d, according to the latest Petroleum Supply Monthly from U.S. 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. million b/d.
The workshop attendees included Yassen Mohamed, CEO of the Egyptian Natural Gas Holding Company (EGAS); Khaled Mowafi, Chairman of the Board of Directors of Belaim Petroleum Company (PETROBEL), and Abd Elnasser Khafagy, Vice Executive Managing Director for Production and Fields Development.
an independent petroleum consulting firm based in Calgary, Alberta, has evaluated the petroleum and natural gas reserves associated with Strathconas interests in Alberta, British Columbia and Saskatchewan. McDaniel & Associates Consultants Ltd.,
Tangible Drilling Costs (TDCs) , on the other hand, are associated with the purchase of equipment and have salvage value, like the drillingrig and wellhead. A sharp decline in oil prices can reduce the profitability of drilling projects, leading to lower returns or even losses for investors.
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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