PESA Welcomes New Member Companies

Please join us in welcoming two new members to PESA: BJ Services and Industrial Tax Consulting. BJ Services is a hydraulic fracturing, pressure pumping and cementing business headquartered in Tomball, Texas, with operations strategically located throughout North America. BJ Services’ President and CEO is Warren Zemlak.   Industrial Tax Consulting is a premier leader in […]

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Rig count hops up 12; Permian Basin again drives rise

The number of oil and gas rigs in U.S. fields rose again this week, up 12 or about 170 over the past three months. This week’s count marks the fourth increase in a row, and a boom of more than 335 rigs since the count fell to its recent low, last spring. U.S. oil drillers […]

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Dakota Access Pipeline Gets Final Go-Ahead

  The Dakota Access pipeline project, hampered by months of protests that led to a suspension by the Obama administration, has now received the approval of the U.S. Army, after President Trump signed an executive order allowing the project to proceed. According to a court filing, the Army will issue a permit for the final […]

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Oil Prices Tank After API Reports 2nd Biggest Crude Build In U.S. History

U.S. crude oil inventories increased by a whopping 14.227 million barrels, according to this week’s American Petroleum Institute (API) inventory report published on Tuesday afternoon, pressing down further on already falling prices. The build is the second largest build in U.S. history, according to Zerohedge. Analysts were anticipating a much more conservative crude oil inventory […]

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Gas Discovery Near North Sea Valemon Field

  Two years after Valemon came on stream Statoil has made a new gas discovery on the field, called Valemon West. The discovery is estimated to contain between 20 and 50 million barrels of oil equivalent. “This is an important discovery for the further development of Valemon,” says Gunnar Nakken, Statoil’s senior vice president for […]

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Another Win For Big Oil: House Removes Transparency Rule

The Republican-dominated House of Representatives yesterday moved to repeal a rule that requires oil companies to report on their payments to foreign governments, including taxes and royalties from their activities in these countries. The rule, part of the Dodd-Frank Act, was devised and approved two years after the 2008 crisis, aiming to make public energy […]

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Drilling rig worker training rebounds as oil and gas prices stabilize

CALGARY – Bundled up “like a snowman” on a wind-whipped Precision Drilling rig in wintry eastern Alberta, rookie hand Dan Brook says he couldn’t feel more removed from his childhood home on the south coast of England. For the 32-year-old, whose family moved to Canada 20 years ago, his new profession offers hope of a […]

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TEAM Oil Tools Adds To TOMCAT™ Product Line

HOUSTON, TX (January 25, 2017) – TEAM Oil Tools (TEAM), an industry leading designer, manufacturer and supplier of quality completion tools, has developed the TOMCAT™ Fully Composite Frac Plug, an addition to the TOMCAT™ Product Line.   The TOMCAT™ Fully Composite Frac Plug utilizes high strength composite components to provide a dependable, durable and cost-effective […]

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Schlumberger chief: drilling recovery “is on its way in all markets”

  Drillers will have to begin pouring cash back into oil fields around the world by the end of the year to prevent a global oil-production shortage in coming years, the CEO of Schlumberger said Friday. That’s why the world’s top oil field services company is gearing up for a global recovery in oil and […]

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Big Oil back on the acquisition trail as outlook brightens

The world’s top oil companies are back in acquisition mode, targeting smaller exploration and development firms to boost oil and gas reserves rather than the mega-mergers that followed previous slumps in crude prices. Since late November, major oil companies have announced 11 deals worth more than $500 million each with a combined value of $31 […]

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ConocoPhillips Announces Willow Discovery in National Petroleum Reserve

ANCHORAGE, Alaska – ConocoPhillips Alaska Inc. today announced a new oil discovery in the Greater Mooses Tooth (GMT) Unit located in the northeast portion of the National Petroleum Reserve – Alaska (NPRA). The Willow discovery wells, Tiŋmiaq 2 and 6, were drilled in early 2016 and encountered 72 feet and 42 feet of net pay, […]

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GE announces Transocean performance-based service agreement

Innovative approach sets out to increase uptime, provide closer customer collaboration Houston, January 11, 2017: Today, GE Oil & Gas (NYSE: GE) announced a new contractual service agreement (CSA), valued at approximately $180 million, with Transocean. The agreement, signed at the end of 2016, aims to further maximize productivity and lower operating costs for Transocean. […]

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