More Drilling Operations News

BHI: US rig count down 87 units in 10th straight week of losses

Feb 6, 2015

The US drilling rig count plunged 87 units, a decline that was again spurred mostly by oil rigs, to settle at 1,456 rigs working during the week ended Feb. 6, Baker Hughes Inc. reported.

North Reggane gas project development drilling starts in Algeria

Feb 5, 2015

The North Reggane consortium has started development drilling at its gas project in the Algerian Sahara.

Inpex starts development drilling at Ichthys field

Feb 4, 2015

Inpex Corp. has started development drilling in Ichthys gas-condensate field in the Browse basin, about 200 km offshore Western Australia.

Anadarko reports 2014 loss, remains upbeat about Wattenberg

Feb 3, 2015

Anadarko Petroleum Corp. announced a 2014 net loss of $1.75 billion, or $3.47/share diluted, including a net loss of $4.05 billion associated with the settlement of litigation involving its subsidiary, Tronox Inc., yet company executives remained upbeat about production growth.

CNOOC cuts capital budget, starts production from Jinzhou 9-3

Feb 3, 2015

CNOOC Ltd. is slashing its capital budget for 2015 by 26-35% to $11.25-12.86 billion compared with last year’s budget. Capital expenditures for exploration, development, and production respectively account for 21%, 67%, and 10% of the budget.

Obama’s proposed fiscal 2016 budget recycles oil tax increases

Feb 2, 2015

US President Barack Obama has proposed his federal budget for fiscal 2016 that he said was designed to help a beleaguered middle class take advantage of a strong economic recovery. It also included proposals from previous years to close what the administration considers oil and gas tax loopholes and the industry regards as necessary provisions to offset ongoing business expenses.

Mud volcanoes show gas hydrates potential in India's Andaman Islands

Feb 2, 2015

Minutes after the M9.0 Sumatra-Andaman earthquake in 2004, mud volcanoes erupted on Diglipur Island in North Andaman. The eruptions resulted in an accumulation of debris that reached above the height of the area's surrounding trees.

BHI: Texas anchors 90-unit plunge in US rig count

Jan 30, 2015

The US drilling rig count plunged 90 units—a majority of which were in Texas—to settle at 1,543 rigs working during the week ended Jan. 30, Baker Hughes Inc. reported.

Chevron, BP, ConocoPhillips join to explore, appraise Gulf of Mexico leases

Jan 28, 2015

Chevron Corp. subsidiary Chevron USA Inc., BP PLC unit BP Exploration & Production Inc., and ConocoPhillips Co. have pledged to work together to explore and appraise 24 jointly-held offshore leases in the northwest portion of Keathley Canyon in the deepwater Gulf of Mexico. Chevron will operate the project.

Carrizo cuts drilling, completion spending by 35%

Jan 27, 2015

Carrizo Oil & Gas Inc., Houston, is cutting its drilling and completion capital expenditure plan for the year by 35% to $450-470 million, but expects to keep oil production roughly flat with last year’s fourth quarter.

EIA: Stable oil production outlook in Lower 48 despite near-term rig-count reduction

Jan 26, 2015

According to data from Baker Hughes Inc., between the weeks ended Oct. 31, 2014, and Jan. 23, 2015, the number of active onshore drilling rigs in the Lower 48 dropped 16%, reflecting the sharp decline in oil prices over the last quarter of 2014.

BHI: US rig count falls for 8th straight week, down 43 units

Jan 23, 2015

The US drilling rig count fell 43 units to settle at 1,633 rigs working during the week ended Jan. 23, Baker Hughes Inc. reported.

BHP to reduce US onshore rigs by 40% by July

Jan 21, 2015

Australia’s BHP Billiton will reduce its US onshore rig presence from 26 to 16 by July in response to lower oil prices.

EIA: Continued global oil stock build to keep pressure on oil prices

Jan 19, 2015

In its most recent monthly Short-Term Energy Outlook (STEO), the US Energy Information Administration reported it expects global oil inventories to continue to build in 2015, keeping downward pressure on oil prices.

BHI: US rig count plunges 74 units, hits lowest total since October 2010

Jan 16, 2015

The US drilling rig count plunged 74 units—all on land—to settle at 1,676 rigs working during the week ended Jan. 16, Baker Hughes Inc. reported. That’s the lowest total since the Oct. 29, 2010, rig count, which totaled 1,672.

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