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Industry Alerts! Catastrophic Failures in Mooring Systems Possibly Put Floating Structures at Risk -- In early 2011, a single point mooring system for a deepwater Gulf of Mexico (GOM) project failed at the tether chain for a free-standing hybrid riser, allowing the buoyancy air can and the free-standing flowline riser to separate. The 440-ton buoyancy air can rose suddenly to the surface while the free standing riser collapsed. (more...) Featured Article of the Month Shale oil extraction is an industrial process for unconventional oil production. This process converts kerogen in oil shale into shale oil by pyrolysis, hydrogenation, or thermal dissolution. The resultant shale oil is used as fuel oil or upgraded to meet refinery feedstock specifications by adding hydrogen and removing sulfur and nitrogen impurities. Shale oil extraction is usually performed above ground (ex situ processing) by mining the oil shale and then treating it in processing facilities. Other modern technologies perform the processing underground (on-site or in situ processing) by applying heat and extracting the oil via oil wells. The earliest description of the process dates to the 10th century. In 1684, Great Britain granted the first formal extraction process patent. Extraction industries and innovations became widespread during the 19th century. The industry shrank in the mid-20th century following the discovery of large reserves of conventional oil, but high petroleum prices at the beginning of the 21st century have led to renewed interest, accompanied by the development and testing of newer technologies. (more...) Featured Company of the Month Royal Dutch Shell plc' (RDSA, RDSB), commonly known as Shell, is a global oil and gas company headquartered in The Hague, Netherlands and with its registered office at the Shell Centre in London, United Kingdom. It is the second-largest energy company and the fifth-largest company in the world according to Forbes Magazine list for 2011. It is vertically integrated and is active in every area of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation and trading. It also has major renewable energy activities, including in biofuels, hydrogen, solar and wind power. It has operations in over 90 countries, produces around 3.1 million barrels of oil equivalent per day and has 44,000 service stations worldwide. Shell Oil Company, its subsidiary in the United States, is one of its largest businesses. (more...) Industry Headlines Rigzone.com: Latest News Headlines The latest upstream oil and gas news from around the world. Chesapeake Cuts Board Pay Following Compensation Review Chesapeake said it decided to trim compensation for outside directors by 20% and eliminates the use of fractionally owned aircraft for personal travel by outside directors. Crude Slips As Macro Worries Weigh On Market Oil futures slid for the sixth session in a row Friday, settling at their lowest level in nearly seven months. John Chance Land Surveys Names President Jimmie Stoute has been named President of survey company John Chance Land Surveys, Inc. (Chance). Infocast to Hold Shale Boom Workforce Summit in June Infocast has assembled a wide array of industry experts to give hands-on, practical advice for resolving these challenges at the Shale Boom Workforce Summit. Travel Restrictions Eased on BP Engineer Mix Judge Daniel Knowles agreed to ease travel restrictions on Kurt Mix, who was charged with destroying evidence sought in the investigation of the Deepwater Horizon oil spill, Bloomberg reported Friday. Repsol: Exploratory Well In Cuban Waters Not Successful Repsol YPF SA said that an exploratory well in Cuban waters was not successful and will be capped. Cook Inlet Lease Sale Shows 'Positive Upturn' for Cook Inlet Exploration The Cook Inlet O&G Lease results "are in line with the positive upturn in exploration activity and lease sale bidding in the Cook Inlet hydrocarbon basin seen over the past two years," DNR said in a statement. Energy Giant Pumping $200M into Its Pakistani Projects United Energy Group (UEG) Limited has raised its capital expenditure investment for its Pakistan assets to $200 million for exploitation and exploration works. BP Orders North Sea Vessels Energy giant BP has ordered four new platform-support vessels for the North Sea. Heritage Oil All Smiles over Miran West 3 Results "We are delighted with the Miran West 3 test results which give us great comfort on the extent of the primary gas reservoir and demonstrates its producibility," CEO Tony Buckingham said. Colombia Oil Reserves Rose 10% In 2011; Government Says More Needed Colombia's proven oil reserves climbed 10% last year compared with 2010, but the govt says more is needed and is urging companies to spend more on exploration. Turkey Threatens Reprisals over Cyprus O&G Drilling Turkey warns firms cooperating with the Greek Cypriot administration will not be allowed to participate in future energy projects in Turkey. Volga Gas Expected to Boost Dobrinskoye Production Soon Volga reports successful production test on VM field, but analysts more interested in operation to upgrade Dobrinskoye field. Afren Strikes Oil at Ebok Well Afren plc announced that the Ebok North Fault Block exploration well has encountered net oil pay in excellent quality reservoir sands. Fairmount Alpine Tows Semisub to Gulf Fairmount Marine's tug Fairmount Alpine has towed the rig Ocean Whittington from offshore Brazil to Galveston. Ocean Installer Pens Frame Contract with Oceaneering Ocean Installer awards a frame contract for the delivery of Remotely Operated Vehicle (ROV) services to Oceaneering. Peritus Strengthens Management Team Peritus International has further strengthened its Management Team with the announcement of the appointment of Robert (Bob) Terrell as President of Peritus Americas. ABB Scores Order for Subsea Pipeline Construction Vessels ABB recently won an order from Daewoo to supply energy efficient propulsion and electrical power systems for two new deep sea pipeline installation vessels off the coast of Brazil. Hurricane CFO Quits Hurricane Exploration Plc announced that Nicholas Briggs has left the company as Chief Financial Officer. Oil Benchmarks Move Closer Together, Even As They Fall The Midwest refinery move will reduce a vast glut of oil that has pooled in the middle of the country and narrowed the difference between the oil market's two benchmark contracts. Upstream RSS Latest news from Upstream Online Range sues Texas resident after YouTube post One case of activism against hydraulic fracturing has taken an unusual turn after a company involved slapped a complaining resident with a countersuit alleging defamation, a report said. Repsol cancels LNG cargoes to Argentina Spain's Repsol has canceled its contract to supply Argentina with liquefied natural gas, a report Friday said. Chesapeake cuts director pay Chesapeake Energy, under growing pressure from shareholders to improve corporate governance, reduced the compensation for its outside directors by 20% and eliminated their use of its aircraft for personal travel, the company said on Friday. US natgas futures continue climb Front-month US natural gas futures rose to a 3-1/2-month high on Friday, as tighter supply-and-demand fundamentals and warmer extended weather forecasts continued to drive gains despite overbought technicals. Oil slips, posting third weekly loss Oil prices fell on Friday in tug-of-war trading, posting a 2012 low and a third straight weekly loss as debt problems in Greece and Spain kept concerns about the euro zone economy in focus. Repsol-led Cuba well a duster Repsol said Friday its closely watched Jaguey wildcat off the coast of Cuba found no commercially viable oil. US gains 12 rigs The count of rigs drilling in the US increased by 12 this week to 1986, according to the weekly tally from Houston-based service provider Baker Hughes. El Paso jumps in LNG export queue US natural gas producer and pipeline operator El Paso has joined the growing ranks of companies hoping to export liquefied natural gas overseas, filing an export license for its existing Elba Island import terminal in Georgia. Accused engineer asks for eased restrictions A former BP engineer charged with destroying evidence sought for a US probe of the 2010 Gulf of Mexico oil spill asked a US judge to ease travel restrictions imposed on him as a condition of bail. Pemex contract soon for heavy-lift package Pemex is expected soon to award the contract for one of Mexico’s largest and potentially most complex heavy-lift package tenders ever. Socar, PetroVietnam tie up for Azeri trio State players to jointly explore onshore oil blocks Turkey warns it will not deal with Cyprus bidders Decades-long dispute over island enflamed by recent large gas find Hyperdynamics warned of NYSE axe Hyperdynamics faces being turfed out of New York’s main bourse after the US explorer was slapped with a warning over its continued weak share price. Brent hits 2012 low of $106.40 Oil prices slipped below $107 a barrel on Friday and hit a 2012 low as investors fought shy of riskier, growth-oriented assets on fears that Greece would leave the euro, Reuters reported. Windom gas low for Icon Further analysis will be needed on the first of two wells Australia’s Icon Energy had planned to drill on the ATP 626P permit, after drill stem tests showed it to be of low permeability. Miran flows welcome for Heritage Flows of up to 22 million cubic feet per day at UK-listed Heritage Oil’s Miran West 3 well in Kurdistan have been welcomed by the company. Maersk in 'advanced deepwater deal talks' Denmark’s Maersk Drilling has revealed it is in “advanced discussions” with explorers to take up its four newbuild ultra-deepwater drillships due on stream in the next two years. Foreign players excluded from China shale round China will exclude foreign companies from bidding in its second tender for shale gas blocks, despite a need for overseas technology to help exploit massive reserves. Players battle for new production sharing deal Tanzania’s government is set to award a production sharing contract for one the country’s last unexplored frontier basins, by the end of next month. Kurdish export halt puts breaks on Genel's output growth London-listed Genel Energy has reduced its production forecast for the year due to a halt on exports from the Kurdistan region of Iraq but expects increased domestic demand to enable it to maintain its projected revenues for the year. WorldOil: Current Issue The latest news and journals from World Oil. Intelligent downhole production control improves project economics, lowers risk An operator faced formidable challenges in an offshore field with multi-stacked reservoirs, including zonal gas-out, moderate aquifer strength and water invasion. The production solution for this complicated sandstone reservoir involved integrating surface-controlled downhole flow-control valves with data surveillance gauges, intelligent sensors and isolation packers into one single, intelligent completion joint. Shale Tech: Bakken/Three Forks Infrastructure, takeaway woes only threats to high activity Apart from an implausible oil price collapse, the only potential sidetracks to the continuation of unbridled exploration and production in the Bakken/Three Forks shale plays are an overwhelmed infrastructure and ever-growing logjams in moving production from fields to refineries. GPS 2012 partners with SPE to host first-ever Heavy Oil Conference Held bi-annually since 1968, the Global Petroleum Show (GPS) brings together 2,000 exhibiting companies and 60,000 attendees from 95 countries to promote discussion about Canada’s oil and gas operations. Regional Report - Latin America: Latin America presents severe contrasts with discoveries in Brazil and Colombia attracting investment, but Venezuela and Argentina looking inward due to nationalism. Cuba has opened licensing to the West, but Falklands exploration activity fuels political tension. Despite the fact that Brazil’s oil reserves are second to those of Venezuela, a member of OPEC, there is no doubt that Brazil is the shining star of Latin America’s petroleum sector. Solving the challenges of time, temperature and pressure Deep, hot wells challenge the most sophisticated downhole instrumentation to provide accurate, reliable answers. In India’s offshore KG basin, success was achieved with the use of a new quartz gauge. What's new in artificial lift? Part 1: In this first of two monthly reports, new innovations that improve operations and/or reduced expenses are described in the categories of Beam/Rod Pumping, Gas Well Dewatering and Gas Lift Drilling advances Drillers take “waste not, want not” to heart Energy Issues How lucky we are Executive Viewpoint Intelligent energy today First Oil Nothing crude about crude oil Innovative thinkers Harold Hamm: The Bakken shale black gold wildcatter Oil and Gas in the Capitals New analysis of peak oil is refreshingly comprehensive The Last Barrel Western Europe is a study in fracing contradictions What’s new in exploration Exploration tested off Cuba What's new in production Natural gas–always the bridesmaid? Companies in the news Companies in the news Industry at a glance Industry at a glance Meetings and Events Meetings and Events New products New products and services People in industry People in industry World of Oil and Gas World of Oil and Gas Characterization of overburden anisotropy improves wellbore stability in North Sea field A multidisciplinary team of consultants used advanced sonic measurements and offset well data to characterize the elastic properties of anisotropic shales overlying the reservoir in ConocoPhillips’ Eldfisk field. EAGE preview: Technical innovation to support a sustainable future Attending a technical conference has many benefits—exposure to new ideas and networking that can invigorate our work with a renewed optimism and fresh industry outlook. New News information at Offshore Technology New and updated information from News listed on offshore-technology.com Eni finds new Area 4 gas offshore Mozambique Italy-based oil and gas company Eni has made a new gas discovery at its Coral-1 exploration prospect in Area 4 off Mozambique. BC Petroleum wins financing for pre-development of Balai Cluster BC Petroleum, a joint venture between Australia's Roc Oil and Malaysian companies Dialog Group and Petronas, has secured $162m in financing for the pre-development of the Balai Cluster risk service contract (RSC) offshore of Malaysia. Brent slips on worsening eurozone crisis, US economic data fears Brent crude fell $1.09 to $107 today because of the worsening euro zone crisis, as Spain slipped into recession, pushing the euro to a four-month low. Anadarko discovers natural gas in Golfinho well offshore Mozambique US oil and gas explorer Anadarko Petroleum has made a new gas discovery in the Golfinho exploration well within Offshore Area 1 within the Rovuma Basin, offshore Mozambique. Brent slips over Greece crisis, US crude climbs Brent crude narrowed by 42 cents at $109.33 as investors moved away from trading riskier assets as political and economic turmoil continues in Greece, in turn affecting other economies on the continent. Total plugs North Sea Elgin platform leak French oil group Total has successfully plugged a well from its abandoned North Sea Elgin platform off Aberdeen, which has been leaking gas for more than seven weeks. BP signs contracts for deepwater exploration blocks in Trinidad British oil company BP has entered into two production sharing contracts (PSCs) with the Government of the Republic of Trinidad and Tobago for new deepwater exploration blocks, located 300km off the north-east coast of Trinidad. Bond helicopters resume flying after ditching in North Sea Bond Offshore Helicopters, a provider of transportation services to several oil platforms within the UK Continental Shelf, is to resume normal flying today after a pilot ditched one of the aircraft, with 14 people onboard in the North Sea, off Aberde… Oil slips over rise in US crude stocks Oil prices slipped by more than $1 today as a larger-than-expected rise in US crude stocks and fears of Greece's exit from the eurozone offset hopes for demand growth. Brent maintains slide because of Greece political turmoil Brent crude slid 40 cents to $111.17 a barrel as continued political turmoil in Greece raised fears that the nation may leave the eurozone. Afren finds significant oil reserves offshore Nigeria Afren, an oil and gas exploration and production company, has found significant oil reserves at its Ebok North Fault Block well, offshore of south-east Nigeria. Statoil secures rig for exploratory Canadian drilling Norwegian oil firm Statoil has reached an agreement with Seadrill to charter its West Aquarius deepwater drilling rig for oil and gas exploration offshore of Newfoundland, Canada, in 2012 and 2013. Roc Oil signs petroleum contract with CNOOC for Bohai assets Roc Oil Bohai has entered into a petroleum contract with state-run China National Offshore Oil Corporation (CNOOC) to secure a 100% stake in the Bohai 09/05 exploration block. Stone Energy to buy stake in Pompano field Oil and natural gas firm Stone Energy has entered into a definitive agreement to purchase Anadarko's 25% working interest in the deep-water Pompano field, located in the US Gulf of Mexico, for $67m. Oil industry meets regarding North Sea helicopter ditching Bond Offshore Helicopters, a provider of transportation services to several oil platforms in the UK Continental Shelf, has grounded its Scotland-based fleet after a pilot had to ditch one of the aircraft in the North Sea off Aberdeen last week. Brent slips over worsening global oil demand Oil prices fell today regarding deteriorating global oil demands, made worse by a slowing Chinese economy and a failed attempt to form a new government in Greece. Brent slips over eurozone worries Brent crude slipped today to below $112 a barrel after tracking losses in the continent, as political deadlock in Greece aggravated fears of worsening global oil demand. McDermott unit wins subsea contract for Malaysian oil field McDermott International's Malaysian affiliate Berlian McDermott has won a subsea engineering and construction contract from Murphy Sabah Oil for the deep-water Siakap North - Petai (SNP) project, offshore of Malaysia. Statoil to start exploration drilling in Skrugard, offshore Norway Norwegian oil firm Statoil and partners Eni and Petoro have agreed to further exploration drilling, which will include four new prospects in the Skrugard area of the Norwegian Barents Sea. Sembcorp Marine unit wins $208m rig order from Perisai Sembcorp Marine's PPL Shipyard has secured a rig building contract worth $208m from a unit of Malaysia's Perisai Petroleum Teknologi, Perisai, to construct a Pacific Class 400 jack-up drilling rig. Create an Article! Creating an article is super easy. Just do a quick search to make sure a similar article doesn't already exist. A link to create the article will be generated for you if it doesn't exist yet. You can click on the link to create the article or just simply type in the article name in the box below and click Create Article. Featured Technology of the Month Halliburton's DeepReach™ Coiled Tubing Servic uses multiple outer diameter coiled tubing sections in a single string with larger OD sections near the top of the string and smaller OD sections near the bottom.With this arrangement, the tension along the string length is reduced while sufficient flow capacity is retained for performing well intervention operations. Tapered OD Makes the Difference The vertical depth capability of conventional coiled tubing is limited because as the length of the tubing string increases in the well, the string’s total weight also increases; therefore, the capability of a conventional CT string to perform ultra-deep work depends primarily on the string’s total hanging weight and the yield strength of the parent metal. If the hanging weight exceeds the pipe’s yield strength, a string separation can occur. Since a tapered coiled tubing string is lighter in weight (compared to a single string of the largest diameter) and its design provides greater strength at the upper end of string, operators can realize up to a 30 percent increase in depth capability over conventional CT strings. Key Enabling Technologies Multiple technologies were developed to enable DeepReach coiled tubing to be used in deep well operations. These technologies include 1) the CT transition joints, 2) Boots & Coots V-Block® gripper design, (more...)