Archive | January, 2017

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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Trumps Energy Pledge

In a single day in November, the most radically effective and sweeping environmentalist movement in U.S. history ended. Not only did it come to a halt, but some of its gains in the past eight years will likely be swept from history. In one day, with control of both houses of Congress and the election […]

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Machinery Auctioneers Abilene Auction Recap. Oil Equipment Auction Sheds Light on Industry

  TYE, TEXAS – Those in the oil patch said that things are looking up. A machinery auction with oilfield equipment was held in Tye Tuesday. Leaders in the industry from around the state were there. Over $1.5 million was expected to be spent on the equipment. Industry leaders in the oil patch said they’re […]

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Drill, Baby, Drill — U.S. Oil Industry Expected to Boost Spending

The oil industry is expected to boost spending for the first time in three years after slashing almost half a million jobs globally during the downturn, according to industry consultant Graves & Co. More than three quarters of the 440,131 oil jobs eliminated around the world through the end of 2016 came from the oilfield […]

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A December to Remember – The Biggest US Drilling Gain in Three Decades

A December to remember – the biggest US drilling gain in three decades U.S. land drillers sent 2016 packing with a bang. Since May, the drilling recovery has looked exceptionally strong on a percentage basis. The December trend looked exceptionally strong on an absolute basis, too, with 65 U.S. rigs returning to work. December 2016 […]

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PESA News-Jean Gould Joins PESA Staff as Sr. Director, Public Policy

Jean Gould Joins PESA Staff as Sr. Director, Public Policy We are pleased to announce Jean Gould has joined the PESA Staff as senior director of public policy. Gould brings more than 25 years of government and public affairs experience, managing public policy issues at the state, national and international levels. In this role, Gould serves […]

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A New World Order Is Emerging In Natural Gas

Brazil’s Petrobras and partners produced their billionth barrel of oil from presalt fields this month. Underlining one of the biggest shifts to happen this decade in global crude output. And news yesterday suggests we may be about to see another mega-shift in energy. In the worldwide natural gas business. That was a deal struck by […]

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