Tag: Drilling

NWT Premier blasts Trudeau government and Arctic drilling moratorium

NWT Premier blasts Trudeau government and Arctic drilling moratorium

“What works in the South doesn’t always work in the North” North West Territory’s Premier Bob McLeod didn’t mince words in a statement on his territory posted to the governments website on Tuesday. McLeod says that policies are being imposed by Ottawa and Southern Canada are threatening their economic potential and work on Indigenous reconciliation. […]

By November 1, 2017 0 Comments Read More →
PSAC forecasting 7,900 wells drilled in 2018, better than 2017

PSAC forecasting 7,900 wells drilled in 2018, better than 2017

2018’s activity to be better than 2015, 2016 and 2017 The Petroleum Services Association of Canada (PSAC) released its 2018 Canadian Drilling Activity Forecast, with an expectation of 7,900 wells drilled in Canada, according to a press release. For 2017, the association’s final revised forecast predicts a yearly total of 7,550 wells. PSAC bases its […]

By November 1, 2017 0 Comments Read More →
Largest oil and gas lease sale in US history set for Gulf of Mexico in March

Largest oil and gas lease sale in US history set for Gulf of Mexico in March

March 2018 sale to offer 76.9 million acres in Gulf of Mexico U.S. Secretary of the Interior Ryan Zinke announced the Department is proposing the largest oil and gas lease sale ever held in the United States – 76,967,935 acres in federal waters of the Gulf of Mexico, offshore Texas, Louisiana, Mississippi, Alabama and Florida, […]

By October 25, 2017 0 Comments Read More →
When will American shale oil make money? Maybe by 2020, says Wood Mackenzie

When will American shale oil make money? Maybe by 2020, says Wood Mackenzie

Tight oil most attractive investment theme in the global industry – Wood Mackenzie Tight oil profitability has been the focus of much debate since the oil price collapse of 2014. Its ability to scale down and up quickly and break even at low price points has made the Permian the star of the show for investors, […]

Permian will lead US crude oil production to record high in 2018 – EIA

Permian will lead US crude oil production to record high in 2018 – EIA

 Many operators experimenting with completion techniques to maximize output per well In EIA’s latest Short-Term Energy Outlook (STEO), total U.S. crude oil production is forecast to average 9.3 million barrels per day (b/d) in 2017, up 0.5 million b/d from 2016, according to the U.S. Energy Information Administration. In 2018, EIA expects crude oil production to reach […]

Texas drilling permits and completions statistics for June 2017

Texas drilling permits and completions statistics for June 2017

Texas rig count as of July 7 was 463, 49% of all active rigs in U.S. The Railroad Commission of Texas (Commission) issued a total of 1,305 original drilling permits in June 2017 compared to 656 in 2016, according to a press release. The June total included 1,131 permits to drill new oil or gas […]

US oil and gas drilling sees 62% increase over 2016 levels

US oil and gas drilling sees 62% increase over 2016 levels

Growing well completion figures could lead to increase in U.S. oil production API today announced that estimated total wells drilled and completed in the second quarter of 2017 increased 62 per cent compared to the second quarter of 2016, according to a press release. This includes a 41 per cent increase in estimated development gas […]

Canadian tight oil production has decreased since 2014

Canadian tight oil production has decreased since 2014

  All Canadian tight oil produced in western Canada Since mid-2014, Canadian tight oil production decreased from a peak of about 425 thousand barrels per day (Mb/d) to about 345 Mb/d at the end of 2016, according to the National Energy Board. This overall decrease was due to declining global oil prices. The main reductions came from the Cardium […]

Texas drilling permits and completions statistics for May 2017

Texas drilling permits and completions statistics for May 2017

Texas rig count as of June 9 was 460, representing 50% of active rigs in U.S. The Railroad Commission of Texas (Commission) issued a total of 1,021 original drilling permits in May 2017 compared to 606 in May 2016, according to a press release. The May total included 841 permits to drill new oil or […]

Advanced drilling rigs to be made in Saudi Arabia under new joint venture

Advanced drilling rigs to be made in Saudi Arabia under new joint venture

NOV will own 70% interest in joint venture, while Saudi Aramco will own 30% National Oilwell Varco, Inc. announced entering into an agreement with Saudi Aramco to form a joint venture in Saudi Arabia, according to a press release. Through its state-of the art manufacturing and fabrication facilities and NOV’s market-leading drilling technologies, the joint […]