The Energy Connection’s Post

“Economic powerhouse:” Permian basin contributes over $100 billion, 800,000 jobs on leading U.S. oil and gas production : This year’s Economic Report from the Permian Strategic Partnership (PSP) emphasizes the area’s status as the second lowest producer of CO2 emissions per barrel of oil equivalent among the major onshore producing basins worldwide.

SLB, Halliburton see strong international crude drilling demand following successful Q2 earnings : Major oil field service companies are pivoting to more work in international and offshore fields amid a slowdown in U.S. shale activity brought on by industry consolidation, low natural gas prices and pressure to keep spending muted and return profits to shareholders.

Drilling of world’s deepest offshore oil and gas well planned for Colombia this year : Occidental Petroleum Corp. and Ecopetrol SA are gearing up to plumb the depths of Colombia’s Caribbean waters in search of oil and gas. The plan is to drill the Komodo-1 well before the year is out in seas roughly 3,900 m (close to 13,000 ft) deep. That’s equal to about 10…

The latest Baker Hughes rig report, released on Friday, indicates that U.S. oil and gas drilling activity remains relatively stable, with a slight decline of just one rig, bringing the total active count to 584. While the nation’s rig count has seen a reduction compared to last year, the week’s report highlights minor fluctuations across several key states, reflecting a dynamic yet steady landscape in the energy sector. Texas, Oklahoma, and New Mexico remain pivotal in shaping the overall trends, with varied changes in oil and gas drilling activity signaling ongoing adjustments to market conditions. https://lnkd.in/gJs8Wfhx

🌍📈 Global Drilling Rig Count Continues to Rise for the Third Month in a Row According to the latest data from Baker Hughes, the number of operating oil and gas drilling rigs worldwide has been increasing steadily for three consecutive months. In August, there were 1,735 active rigs, up by 22 from the previous month (1,713). However, this is still 53 rigs lower than the same period last year. 📊 🔹 USA: Rig count remained steady at 586. 🔹 Canada: Saw a jump of 25 rigs, reaching 218. 🔹 Middle East & Africa: Decreased by 8 and 4 rigs, respectively. 🔹 Latin America & Asia-Pacific: Both regions increased by 6 rigs each. While we’ve seen growth, it's worth noting the all-time high of 5,624 rigs back in 1981 and the historic low of 1,352 rigs in 2020. 🛢️📉 The industry continues to evolve – let’s see where it heads next! #OilAndGas #EnergyIndustry #Drilling #GlobalEnergy

Colombia eyes 2029 start-up date from offshore natural gas assets in $300 million drilling investment : Ecopetrol is planning to spend $300 million this year — the most it has invested in offshore drilling in any year — as it pushes to produce more natural gas and get it to consumers in fewer than the 10 to 15 years it normally takes to bring to market, according to Elsa…

Really, I doubt in drilling two new gas producers only in ZOHR gas field can increase the field gas rate to level 2.0 BSCFD in 1st Quarter of 2025. We need to drill four wells instead of two wells to produce 2.0 BSCFD in this date. Also, the gas production rate sustaining needs drilling more wells. Except that, we will see again gas rate declining for this field such as what we saw after drilling two gas producers in August, 2022---see the table.

𝐂𝐨𝐢𝐥𝐞𝐝 𝐓𝐮𝐛𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 size is estimated to reach US$ 75.49 billion by 2030, after growing at a CAGR of 4.3% from 2024 to 2030. 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 @ https://lnkd.in/gbEGmeb9 ◾ The #coiled #tubing market is defined by its continuous steel or composite tubing that is both flexible and robust, specifically designed for oil and gas exploration applications. This technology is integral to the industry, providing a versatile solution for #downhole #operations due to its adaptability, rigidity, and strength. As the oil and gas sector experiences a surge in exploration and production activities, the coiled tubing market is witnessing notable growth. ◾ Well intervention services, including well cleaning, stimulation, and logging, are major applications of coiled tubing. As older wells require maintenance and newer wells require optimization, as a result growing the Demand for Well Intervention Services using coiled tubing continues to increase. ◾ The surge in oil and gas exploration, notably in unconventional resources such as shale, tight #gas, and heavy #oil, is fueling the demand for coiled tubing services. Integral to well intervention and stimulation procedures, coiled tubing plays a pivotal role in sustaining and augmenting production rates. 𝐅𝐨𝐫 𝐌𝐨𝐫𝐞 𝐈𝐧𝐟𝐨 📚 https://lnkd.in/ge467KwE 𝐓𝐨𝐩 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬: Cameron, a Schlumberger company, Halliburton, Baker Hughes, Weatherford, NOV, C&J Energy Services, Superior Energy Services Key Energy Services, Calfrac Well Services, Oceaneering, Frank's International N.V., Pioneer Energy, Nabors Industries, Basic Energy Services Mammoth Energy Services, Welltec, FTS International, Action Energy Services

The latest Baker Hughes rig report, released on January 10, 2025, indicates a drop in U.S. oil and natural gas drilling activity for the first time in six weeks. The rig count, a key barometer of future production levels, fell by five rigs to 584, marking the lowest level since November 2024. This decline underscores the ongoing cautious approach by energy firms, many of whom continue to prioritize debt reduction and shareholder returns over increasing production amid volatile market conditions. https://lnkd.in/gVFpuyPz

Storage Terminals Magazine: Perenco succeeds in drilling, discovery of three new wells for onshore Colombia To view article please click here: https://hubs.ly/Q02V2BXN0 Does your company have news to share with the industry? Please contact: [email protected] and we will be happy to assist. #storageterminalsmagazine #tankstorage #oil #chemicals #tankterminals #bulkliquids #tanks #storagetanks #storageterminals #liquids #storageterminalsmag #news