• Rise in the Barnett

    From The Unconventional Drilling Report with data as of September 17, 2010:

    The Barnett is experiencing a bit of a renaissance as the rig count quietly climbed to a recent high of 90 units. The latest increase came from Chesapeake, which put = another four rigs to work. Given the nearly full utilization rate in the “core” area, additional near-term growth would likely come from the “oily” window.

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  • Rig Count Grew in Unconventional Plays

    Rigs drilling in unconventional resource plays now comprise 48% of U.S. land rigs, according to the latest issue of The Unconventional Drilling Report. That’s impressive when one considers that the unconventional share was 43% last quarter and just 39% in 3Q 2009.  Much of the growth comes from three plays: Eagle Ford, Bakken, and Marcellus.  These plays have put a combined 134 rigs to work this quarter alone.  Notably, strong growth in the Eagle Ford and Bakken underpins recent market share gains for oil-directed activity.  Oil-directed drilling now represents 29% of shale activity, up from 26% in mid-July.

     

    Recent permitting suggests ongoing support for drilling across most unconventional resource plays.  Two notable exceptions are the Fayetteville and Woodford shales.  Clearly, operators’ thirst for liquids will continue to drive rigs to the Bakken and Eagle Ford.  Other resource plays that could see more rigs include the West Texas Wolfberry, the Granite Wash, and the Niobrara.

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  • Battle in the Marcellus

    From The Unconventional Drilling Report with data as of July 9, 2010:

    The battle between environmentalists and industry in Pennsylvania appears far from over. The Delaware River Basin Commission (DRBC) agreed to hold hearings in north-eastern Pennsylvania to consider changes to its moratorium on natural gas drilling in its jurisdiction. In June, DRBC extended its regulatory actions to include exploratory Marcellus wells. Prior to June, only development wells required DRBC approvals.

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  • Gulf of Mexico Rig Utilization

    Mobile rig utilization in the Gulf of Mexico slipped slightly last week. Total fleet utilization stands at 48.7% with 58 of 119 mobile rigs under contract or committed for work. Marketed utilization, which excludes cold stacked and other non-marketed rigs, is now 74.4%, with 58 of 119 rigs under contract.

     

    Several changes occurred to the jackup fleet last week. Diamond Offshore Drilling Inc. cold stacked the Ocean Spartan. Also, Rowan Companies, Inc.’s newbuild jackup Rowan EXL II departed the region for a contract off Trinidad. Finally, the Rowan Louisiana was removed from under contract as its delay in   beginning work with McMoRan Exploration Co. drags on due to permitting issues. As a result, total utilization is now at 37% with 30 of 81 rigs under contract or committed for work. Marketed utilization is now 65.2% with 30 of 46 units contracted.

     

    Floating rig fleet utilization is unchanged this week. Overall, 28 of 32 rigs are under contract for utilization of 87.5%. Marketed utilization held steady at 90.3% with 28 of 31 units under contract.

     

    Platform rig fleet utilization is unchanged 29.4% with 15 of 51 units under contract, while marketed utilization stands at 42.9% with 15 of ...

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  • FMC Signed Agreement with Statoil

    FMC Technologies, Inc. has signed an agreement with Statoil for the manufacture and supply of subsea production equipment to support the Katla development in the Norwegian sector of the North Sea. The contract is valued at $75 million.

     

    FMC Technologies, Inc. has signed an agreement with Total Exploration & Production Angola for the manufacture and supply of subsea production equipment for the CLOV development project. The contract is valued at $520 million.

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  • Offshore Driller News

    Jackups Noble John Sandifer and Noble Sam Noble have completed extension terms with Pemex and have been released. The now warm-stacked rigs join the Noble Eddie Paul and Noble Leonard Jones, which were released earlier this year. Noble has five additional jackups with contract terms that expire by the end of 2010.

     

    Rowan Companies, Inc.’s newbuild jackup Joe Douglas has a commitment in place from McMoRan Exploration Co. for an ultra-deep well upon delivery in September 2011. Once signed, it will mark the fifth Rowan jackup to work for McMoRan. Jackup Rowan EXL-1 is now on location in Eugene Island Block 223 to begin a 300-day well for McMoRan after the operator received permit approval last week. Drilling will keep the rig busy through at least next July. The rig had been working for McMoRan in High Island Block A-531. Meanwhile, newbuild jackup Rowan EXL-II has departed the Gulf, enroute to Trinidad where it has a three-year contract with BP starting by the end of October.

     

    Rowan also reports that jackup Bob Palmer is now in Sabine Pass preparing to depart the Gulf for a three-year contract for Saudi Aramco which begins early second quarter next year. Rowan ...

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