BHGE Inks 3-year Contract with Saudi Aramco
Saudi Aramco has awarded major stimulation and well-testing contract to Baker Hughes, a GE company (BHGE). BHGE will deliver a comprehensive well services solution including all cased-hole wireline logging, perforation, well testing, stimulation, fracturing and associated intervention services.By integrating discrete products, services and capabilities into a single offering, BHGE will help Saudi Aramco reduce time, costs and complexity while increasing efficiency.The three-year…
Total Wins 40% Stake in Unconventional Gas Concession
Abu Dhabi National Oil Company (Adnoc) has awarded a 40 per cent stake in the Ruwais Diyab gas concession to French energy major Total.Adnoc group, for which the award is an important milestone to reach the target of 1 Bcfd of unconventional gas production before 2030, said in a press release that it will retain a 60% stake in the concession.Under the terms of the agreement, Total will explore, appraise and develop the concession area’s unconventional gas resources.The agreement…
Seadrill Gets ABS-Managed Pressure Drilling Notation
ABS has announced it has issued the managed pressure drilling notation ABS MPD to Seadrill for the ABS-classed West Capricorn, a 6th generation ultra-deep water semi-submersible operating in the Gulf of Mexico.This notation demonstrates system compliance with the ABS Guide for Classification and Certification of Managed Pressure Drilling Systems (MPD Guide).Seadrill’s West Capricorn is the first Column Stabilized Drilling Unit to receive the ABS MPD notation complete with the Maltese Cross…
Weatherford scraps JV, Sells Biz to Schlumberger
U.S. oilfield services company Weatherford International Plc on Friday sold a U.S. oil-well business to rival Schlumberger NV for $430 million, abandoning a planned joint venture. Weatherford has struggled with losses and has been looking to sell units and raise cash to reduce about $7.9 billion in debt. It suffered a $875 million loss on $4.21 billion in revenue for the first nine months of this year. In March, the company agreed to put its North American pressure pumping and…
The Importance of Correctly Fit Bulldog Grips
Tony Watson, Risk Assessor at UK P&I Club, advises on the correct application of bulldog grips in order to minimize damage to cargo. Bulldog grips are commonly used for the securing of project cargo, both under and below deck. They are also used on ships on mast stays and crane wires, although swaged connections are now more common. The single most predominant factor associated with the failure of cargo lashings is the incorrect application of bulldog grips. Failed lashings can result in significant damage to cargoes…
Emco Wheaton Grows Sales Team
Emco Wheaton, a manufacturer and supplier of equipment for liquid, gas and dry bulk products, has announced two additions to the Americas sales team with Holly Damude taking on the role of DRY-BREAK Product Specialist and Eric Rodriguez appointed as Territory Sales Manager. A graduate of the University of Toronto, Holly has been with Emco Wheaton for nearly eight years during which time she has developed extensive knowledge and a great passion for the DRY-BREAK product range. Damude has previously been the Inside Sales Supervisor and an Outside Sales Representative for Emco Wheaton Canada.
SGMF Interviews Members from Dixon Valve & Coupling
The Society for Gas and Marine Fuel (SGMF) recently interviewed members with Sean Andersen and Tony Haston of Dixon Valve & Coupling, who weighed in on their company, its products, operations and place within the marine fuels industry. Dixon Valve & Coupling - who are you and what do you do? What products/services do you provide? Dixon, founded in 1916, is a premier global manufacturer and supplier of hose couplings, valves, dry disconnects, swivels and other fluid transfer and control products.
Banned: Fracking Hits a Roadblock in Texas
The first ban on new hydraulic fracturing in Texas went into effect in the city of Denton, a month after voters deemed the oil and gas extraction method behind the U.S. energy boom a community nuisance. The Texas Oil & Gas Association, an industry group, and the Texas General Land Office filed a lawsuit shortly after voters in the city of 123,000 approved the ban on Nov. 4. The lawsuit aims to allow the technique known as fracking, widely used in the top crude and natural gas producing state in the country.
Fracking Inquiry Puts Aussie Energy at Risk
The South Australian Liberal Party risks damaging investor and public confidence in the natural gas industry by moving to establish a Parliamentary inquiry into hydraulic fracturing – an industry practice that has been used safely in the State for many decades. APPEA’s Chief Operating Officer Western Region, Stedman Ellis, said the inquiry proposed by the Member for Mt Gambier had little basis in science. Mr Ellis said the South Australian Parliament needed to be wary that it did not provide a megaphone for people who want to undermine the industry and the investment and jobs it provided.
Can Oil & Gas Superpower Lead on Climate Change?
A day before President Barack Obama addressed the United Nations to declare the nation is "stepping up to the plate" to tackle climate change, nearly 400,000 protesters jammed New York City streets in a climate change march. Many held signs calling for an end to fracking. Environmental activists see the U.S. natural gas and oil production boom, spurred by fracking, as a major contributor to global warming. Obama has lauded the country's shale boom as an economic boon and a geopolitical lever.
Exxon CEO: Lifting Crude Export Ban Would Create US Jobs
Scrapping a decades-old ban on U.S. crude oil exports would spur job creation and boost energy security by encouraging new investment that lifts production, Exxon Mobil Corp's chief executive said on Thursday. Chief Executive Officer Rex Tillerson, speaking to a business group, said trade restrictions should also be lifted for exports of liquefied natural gas, or LNG, which are subject to lengthy regulatory reviews. Dozens of companies are lining up to export LNG and a superlight type of crude oil known as condensate as U.S.
16 U.S. States at High Risk of Damaging Earthquakes -USGS
Sixteen states are at high risk of damaging earthquakes over the next 50 years and certain areas of the United States face a higher threat of temblors than previously thought, a federal geological survey agency said. The findings come from updated earthquake hazard maps that were released by the U.S. Geological Survey on Thursday. The maps are used to help define safe building codes, help emergency responders plan after a quake, and influence insurance rates, the report said.
Floating Production System Orders Outlook
An EPC contract for a production unit can easily exceed $1 billion – and $3 billion for an FPSO has recently been breached. Overall, this is a $20 to $30 billion annual market. But, as described below, the sector is hitting some headwinds that could impact future business opportunities. 243 floating production projects are in various stages of planning as of beginning May. Of these, 57% involve an FPSO, 16% another type oil/gas production floater, 23% liquefaction or regasification floater and 5% storage/offloading floater.
US 2014 Petroleum Production: Why Hubbert was Wrong
Combined production of crude oil, gas and condensates in the United States is on course to a hit a record this year, passing the previous peak set in 1972. The rise in output has confounded the famous forecast made by Shell geologist M King Hubbert who predicted that U.S. oil and gas production would peak in the 1970s and then decline. Hubbert's prediction was contained in a paper entitled "Nuclear Energy and the Fossil Fuels," published in 1956, in which he argued the coming decline of oil and gas output would make the development of nuclear energy essential.
Modern Solutions Power Systems Conference
Thomas Alva Edison, who is considered to be one of the most prolific inventors in history, once said, “I find out what the world needs. Then I go ahead and try to invent it.” His invention of the long-lasting electric light bulb was exactly what the world needed and has revolutionized the way we live today. Since then, the explosive growth of the electric power industry has brought about as many challenges as it has accomplishments. What the world needs now are solutions for the critical issues affecting modern power systems. Schweitzer Engineering Laboratories, Inc.
Changes in Oil Trade Patterns and their Effects
With “America’s Energy Renaissance” oil trade patterns are changing. The impact is far reaching, but not easily defined. Ship spotters around the Hudson River, which snakes north from New York towards Albany, have been abuzz since the middle of the year when the medium range (MR) tanker Afrodite, owned by Tsakos Energy Navigation, has been sighted regularly. The 2005-built 53,000 deadweight vessel commenced a two-year charter to Irving Oil, at a rate of $16,000/day, topped off by a profit-split.
FMC Commissioner Gives Keynote on Panama Canal
Commissioner William P. Doyle of the Federal Maritime Commission, has given the keynote address at the Eno Center for Transportation Forum on the Panama Canal entitled: Lessons Learned and Implications for World Commerce. His comments on the future of the canal's LNG trade are also extracted below. Commissioner Doyle noted that the Obama Administration, members of Congress and state and local officials support the tremendous economic, business, job-supporting, energy and transportation related opportunities the expanded Canal will bring to the United States.
Looper Reed Expands Services
Looper Reed & McGraw is pleased to announce the addition of Julia Palmer and Carrie Weitinger as Members and Shannon Thorne and Monika Moore as Associates to its Houston office. The addition of these four attorneys has added great depth to the firm's Admiralty, Onshore and Offshore Energy and Insurance Law Practices. Julia M. (Adams) Palmer, formerly Julia M. Adams, is an active member of the admiralty and energy bar. Her practice focuses on the representation of marine and energy interests, insurers, and insurance brokers.
Oil Explorers Update on Thailand Assets
US-based Coastal Energy Company updates progress on Thailand rig location and pilot offshore facturing program. The Atwood Manta has arrived on location at the Bua Ban North B field and is currently rigging up. The Company plans to drill eight development and appraisal wells at Bua Ban North with the Manta. Following completion of these eight wells, the Company plans to mobilize the Manta to the KBM cluster offshore Malaysia in early Q213 to begin appraisal drilling there. The…
US-based Coastal Energy to Place Second Offshore Thailand Rig
Coastal Energy Company, an independent exploration and production company with assets in Thailand, issues 2013 guidance. • The Company expects operating expenses to average approximately $19.00 per bbl offshore Thailand, well below 2012 levels as the Company realizes a full year of facilities purchases for its Thailand operations. • The Company expects total company production to average 33,000 boepd (net to Coastal) for the full year. This estimate includes 27,000 bopd from offshore Thailand…
MTU Introduce Mobile Rig Power Module
Tognum to showcase Mobile Rig Power Module powered by MTU series 1300 engine at Permian Basin International Oil Show (PBIOS) in Odessa, Texas. The Series 1300 offers the same legendary high standards of reliability and durability as its predecessor, the Series 60, with improved emissions technology and load performance. The Series 1300 offers a power range from 350-470 brake horsepower (bhp). The new Auxiliary Generator Package powered by the MTU 8V 1600 engine, designed to provide electrical power to drill rig operations.
Offshore O&M Expenditure Forecast: $335B in 5 Years
More than $335 billion worth of expenditure is expected over the next five years on offshore oil & gas operations & maintenance (O&M), according to a new report, The World Offshore Operations & Maintenance Market Forecast 2012-2016, by Douglas-Westwood (DW). Growth of 8% in expenditure is forecast annually 2012-2016, with O&M markets considerably less vulnerable to downturn than their capital-led counterparts. The underlying driver for all activity, both onshore and offshore, is the growth in global energy demand which…
DOE, EPA, DOI to Partner on Oil & Gas Research
Obama Administration Announces New Partnership on Unconventional Natural Gas and Oil Research. Today, three federal agencies announced a formal partnership to coordinate and align all research associated with development of our nation’s abundant unconventional natural gas and oil resources. The partnership exemplifies the cross-government coordination required under President Obama’s executive order released earlier today, which created a new Interagency Working Group to Support Safe and Responsible Development of Unconventional Domestic Natural Gas Resources.
Kirby Expects Strong 3Q Earnings
Expected result compares with $.57 per share for the 2010 third quarter, fueled by continued strong inland marine transportation and land-based diesel engine services markets. Kirby to announce 2011 third quarter results on Wednesday, October 26, 2011, with conference call on Thursday, October 27, 2011. Kirby Corporation announced today that it expects its 2011 third quarter net earnings to exceed $.90 per share, above the top end of Kirby's earnings guidance of $.82 to $.87 per share, and substantially above 2010 third quarter earnings of $.57 per share.
Kirby Announces 2Q Results
Kirby Corporation (NYSE: KEX) announced net earnings attributable to Kirby for the second quarter ended June 30, 2011 of $41.7 million, or $.77 per share, compared with $29.3 million, or $.54 per share, for the 2010 second quarter. The 2011 second quarter results included an estimated $.07 per share negative impact from high water and flooding issues throughout the Mississippi River System. Consolidated revenues for the 2011 second quarter were $437.3 million compared with $273.7 million reported for the 2010 second quarter.
Offshore: Baker Hughes Awards EBDG Contract
Seattle-based Elliott Bay Design Group, through its New Orleans office, was selected by Baker Hughes to provide the owner's design of the Blue Tarpon a state-of-the-art well stimulation vessel. EBDG was contracted to integrate Baker Hughes' stimulation equipment into a hull under construction at North American Shipbuilding in Larose, LA. The Blue Tarpon was delivered in Houston on June 9. Working with Baker Hughes, EBDG's team designed the vessel to provide high-rate and high-volume stimulation treatments for demanding offshore operations.