Home

The US drilling rig count is up 2 units to 1,051 rigs working for the week ended Feb. 15, according to Baker Hughes data. The count is also up 76 units from the 975 rigs working this time a year ago. With a 1-unit loss week-over-week, 1,028 rigs are drilling on land. The number of rigs drilling offshore gained 2 units to reach 21 rigs. Those units drilling in inland waters gained a single rig to reach 2 units for the week. Read more »

Eni SPA said it achieved record production of 1.85 million b/d during 2018, up by 2.5% from 2017, while its proved reserves replacement ratio again rose above 100% for a 3-year average of 131%, the company said in an earnings statement. Read more »

A lack of training, familiarity, and experience with the drill floor equipment and drillship layout could have contributed to the Dec. 2, 2017, accident that killed a floor hand aboard the Petrobras 10000 drillship working in the Gulf of Mexico’s Walker Ridge 469 area, the US Bureau of Safety and Environmental Enforcement said in a Feb. 13 report of its investigation into the incident. Read more »

With US shale activity in 2019 beset by uncertainty, Rystad Energy identifies three trends for US light tight oil production that will have a profound impact on the evolution of the industry in 2019 and 2020. Read more »

US Lower 48 exploration and production companies are under pressure from investors demanding greater capital discipline, positive free cash flow, and increasing returns. The Lower 48’s independents, who traditionally pursued growth at all costs, must now rein in their impulses and focus on delivering returns to their shareholders. Read more »