US Rig Count Reaches Highest Level in Two-and-a-Half Years
The US adds four rigs this week, making this week’s count the highest since March 2015. U.S. drillers added four rigs this week, bringing the nation’s oil rig count to Continue Reading
BP Thunder Horse Expansion in Gulf of Mexico Starts Early
BP starts up its Thunder Horse Northwest Expansion in deepwater Gulf of Mexico months ahead of schedule. BP’s Thunder Horse Northwest Expansion offshore Gulf of Mexico is starting four months Continue Reading
Oceaneering Rides Recovery Wave With New ROV Technology
Technology is increasingly becoming more important for oilfield services companies to gain an edge in what’s still a recovering market. Technology is increasingly becoming more important for oilfield services companies Continue Reading
1 MMbpd Pipeline to Link Permian to Deepwater Ports
JupiterMLP is building a 670-mile oil pipeline linking the Permian to Texas’ three deepwater ports. JupiterMLP, LLC anticipates a November open season for capacity on the 1 million barrel per Continue Reading
BP Starts Up Gulf Of Mexico Expansion Project Earlier Than Planned
BP said on Thursday that it had started up ahead of schedule its Thunder Horse Northwest Expansion project in deepwater Gulf of Mexico, adding 30,000 bpd to the Thunder Horse Continue Reading
Oil Price Rally Revives Offshore Oil Sector
The offshore drilling segment of the energy industry was among the hardest hit by the 2014 downturn. Many went under, and those that did survive were on their last legs Continue Reading
U.S. Oil Production May Jump To 14 Million Bpd By 2020
U.S. oil production may rise to as much as 14 million barrels of oil per day (bpd) by 2020, Secretary of the Interior Ryan Zinke told Fox Business on Wednesday. Continue Reading
Offshore drillers eye recovery by 2020
Battered oil and gas drilling companies are finally seeing piecemeal signs that the prices they charge for offshore rigs are bottoming out with Brent crude selling for more than $80 Continue Reading
Tight Oil, Shale to Drive Majors’ Output to New Highs
By the middle of the next decade, US unconventionals will generate up to $20 billion of annual cash flow for the Lower 48. U.S. unconventionals will be crucial for oil Continue Reading
U.S. oil service firms face tough quarter despite high crude prices
Even as crude prices hover near four-year highs, U.S. oilfield service firms’ third-quarter results due out in coming days will reflect a shaky recovery, as their customers face drilling constraints Continue Reading