Tradequip Blog & Oilfield Industry News

Higher oil prices this year boosted U.S. oil production, and the U.S. oil industry played a large part in America’s impressive second quarter economic growth—the fastest growth since the third quarter of 2014. Real U.S. gross domestic product (GDP) rose at an annual rate of 4.1 percent in the second quarter of 2018, according to […]

Maersk Drilling has been awarded contract extensions for the high-efficiency jack-up rigs Maersk Resolute and Maersk Resolve by Petrogas E&P Netherlands B.V. and Wintershall Noordzee B.V., respectively. The extensions allow the two rigs to continue their high-performance operations in the North Sea. Maersk Resolute has been awarded a 56-day contract extension by Petrogas E&P Netherlands […]

Upgrades will increase production of motor fuels and aromatics in the Philippines DES PLAINES, Ill., – Honeywell (NYSE: HON) announced today that Petron Corporation will expand and upgrade its Limay, Bataan refinery in the Philippines with technologies from Honeywell UOP. When the project is completed, the refinery will produce 75,000 barrels per day of refined fuels and 1 […]

Talos Energy Inc. (“Talos” or the “Company”) (NYSE: TALO) today announced that the Mt. Providence well began producing on July 10, 2018, approximately 60 days ahead of the originally scheduled completion date in early September. Current gross production of 3,850 barrels of oil equivalent per day (“Boe/d”), which is near the top of the previously […]

  HOUSTON–(BUSINESS WIRE)–Titan Production Equipment has officially opened for business, completing its acquisition of Exterran Corporation’s North American production equipment business. The new company plans to scale up quickly, aiming to become the market leader in the design, engineering and manufacture of oil and gas production equipment used to separate, process and treat hydrocarbon streams […]

Alan Greenspan: Economic stability led by oil production Former Federal Reserve Chairman Alan Greenspan on the economic stability of the U.S. with the extraordinary rise of crude oil production. U.S. oil production is booming and oil exports are following. In its latest weekly update, the U.S. Energy Information Administration (EIA) also reported that oil refining hit its highest level […]

The Permian has been getting most of the headlines on U.S. shale, but there is another play in the vicinity that has been attracting more industry attention than media attention. Pretty much forgotten since the ‘90s, when shale oil and gas moved to the forefront of the U.S. oil industry, the Austin Chalk has now […]

Output from the Permian basin is poised to double between 2017 and 2023, according to IHS Markit. At 5.4 million barrels per day, Permian production would surpass output from all other producer nation’s except Saudi Arabia and Russia. IHS Markit believes the jump in output will require more than $300 billion in investment. New IHS […]

In the light, sweet spot  Surprisingly, they have not yet roiled the oil markets JUST over a year ago Harold Hamm, billionaire boss of Continental Resources, one of the biggest shale-oil producers in America, issued a stern warning to his fellow frackers. Drill with restraint or we will “kill the market”, he said. This month […]

  Call it Permian, version 3.0. That’s how Tim Dove, who leads Pioneer Natural Resources Co., refers to new well designs his company says are now pumping 35 percent more oil than their predecessors. And Pioneer’s not alone: Rivals are also boasting of huge improvements resulting from new-look technology, indicating that the biggest U.S. oilfield […]

PLANO, TX – May 3, 2018 – Murex LLC (Murex) and Cetane Energy, LLC (Cetane) have agreed to a major capacity expansion which will more than double the existing throughput of the Cetane crude oil trans-loading facility in Carlsbad, New Mexico serving the Permian and Delaware Basins. Capital improvements, which will be completed Q3 2018 […]

  FOR IMMEDIATE RELEASE Tradequip International, a tri-monthly, buy-sell publication, is celebrating 40 years serving the oil and gas industry. Tradequip has been in print since 1978. Originally called International Tradequip, the paper barely contained more than ten pages. So, in 1983, it was purchased by The Cosby Harrison Company (formerly called TAP Publishing Company). […]