Sunday, December 20, 2009
Sunday, December 13, 2009
Saturday, November 21, 2009
Fire on Australian oil rig delays plans to stop leak into Timor Sea
A massive fire has broken out on an Austalian oil rig and delayed plans to plug the leak that has been spilling oil into the Timor Sea since August.
The blaze started on Sunday when workers began pumping heavy mud into a leaking well casing. An estimated 400 barrels of oil a day have escaped from the hole since 21 August, threatening marine wildlife over an area ten times the size of London.
Australia's government today promised an investigation, the latest drama in a 10-week saga to plug the hole.
PTTEP Australasia, which operates the oil rig, said no one was injured and nonessential workers were evacuated after the fire broke out on the West Atlas rig and Montara wellhead platform.
Officials had planned to pour more mud into the leak on Monday in the hopes of removing the source of fuel from the fire, which was sending massive plumes of smoke into the sky. But the company said it was mixing 4,000 barrels of heavy mud, and would not be ready to pour it down the well until Tuesday.
On Sunday, PTTEP Australasia chief financial officer Jose Martins said the company doesn't know how the blaze started.
"Presently there are many unanswered questions, including what caused the fire," Martins told reporters in Perth. "Our sole focus now is the safety of all personnel, bringing the fire under control and completing the well kill."
Federal resources minister Martin Ferguson said that once the spill is contained he would launch an official inquiry. "Our requirement is to assess the cause of the accident and any lessons to be learnt, and that could lead to a change in the regulatory environment," he told Australian Broadcasting Corporation radio.
Ferguson later told reporters in Melbourne that if PTTEP was "found to have been at fault with respect to any of their responsibilities, then any potential action will be appropriately considered at the time."
The oil slick from the rig, about 150 miles off Australia's north-west coast, now stretches across thousands of milesof remote ocean. Indonesia said last week that thousands of dead fish and clumps of oil have been found drifting near its coastline.
Prime minister Kevin Rudd said today he was "deeply disturbed" at the latest turn of events on the rig, signalling the government's rising frustration that fixing the spill is taking so long.
"Do I think this is acceptable? No, I don't," Rudd told Fairfax Radio Network. "Are we angry with this company? Yes we are. Are were trying to do everything we can to get this under control? You betcha."
This is an extract from http://www.guardian.co.uk/environment/2009/nov/02/timor-sea-oil-spill-australia
The blaze started on Sunday when workers began pumping heavy mud into a leaking well casing. An estimated 400 barrels of oil a day have escaped from the hole since 21 August, threatening marine wildlife over an area ten times the size of London.
Australia's government today promised an investigation, the latest drama in a 10-week saga to plug the hole.
PTTEP Australasia, which operates the oil rig, said no one was injured and nonessential workers were evacuated after the fire broke out on the West Atlas rig and Montara wellhead platform.
Officials had planned to pour more mud into the leak on Monday in the hopes of removing the source of fuel from the fire, which was sending massive plumes of smoke into the sky. But the company said it was mixing 4,000 barrels of heavy mud, and would not be ready to pour it down the well until Tuesday.
On Sunday, PTTEP Australasia chief financial officer Jose Martins said the company doesn't know how the blaze started.
"Presently there are many unanswered questions, including what caused the fire," Martins told reporters in Perth. "Our sole focus now is the safety of all personnel, bringing the fire under control and completing the well kill."
Federal resources minister Martin Ferguson said that once the spill is contained he would launch an official inquiry. "Our requirement is to assess the cause of the accident and any lessons to be learnt, and that could lead to a change in the regulatory environment," he told Australian Broadcasting Corporation radio.
Ferguson later told reporters in Melbourne that if PTTEP was "found to have been at fault with respect to any of their responsibilities, then any potential action will be appropriately considered at the time."
The oil slick from the rig, about 150 miles off Australia's north-west coast, now stretches across thousands of milesof remote ocean. Indonesia said last week that thousands of dead fish and clumps of oil have been found drifting near its coastline.
Prime minister Kevin Rudd said today he was "deeply disturbed" at the latest turn of events on the rig, signalling the government's rising frustration that fixing the spill is taking so long.
"Do I think this is acceptable? No, I don't," Rudd told Fairfax Radio Network. "Are we angry with this company? Yes we are. Are were trying to do everything we can to get this under control? You betcha."
This is an extract from http://www.guardian.co.uk/environment/2009/nov/02/timor-sea-oil-spill-australia
Number of working U.S. oil rigs jumps to year's highest, Baker Hughes says
Drilling - The number of oil rigs operating in the U.S. this week jumped 8.7 per cent to the highest this year, according to data published by Baker Hughes Inc.
Oil rigs gained 29 to 361, the largest number of rigs added since Nov. 7, 2008, the same week the count peaked at 442, Baker Hughes said Friday on its website. Natural gas rigs declined by six, pulling the overall U.S. oil and gas rig count up 23, or 2.1 per cent, to 1,101, the highest since March.
The number of oil rigs has increased for nine consecutive weeks as futures prices traded near the year's highs. Futures touched a one-year high of $82 US a barrel on Oct. 21 on the New York Mercantile Exchange.
Texas, the state with more oil and gas rigs than any other, added 25 rigs, or 6.1 per cent, to 432.
Natural gas rigs fell by six, or 0.8 per cent, to 728, Baker Hughes said. The count is down 55 per cent from a peak of 1,606 on Sept. 12, 2008.
Gas for December delivery fluctuated, rising 0.3 per cent to $4.373 per million BTU at 2 p.m. on the NYMEX.
Canadian rigs added 30, or 13 per cent, to 263, the highest since March.
This is an extract from Edmonton Journal at http://www.edmontonjournal.com/business/Number+working+rigs+jumps+year+highest+Baker+Hughes+says/2222780/story.html
Oil rigs gained 29 to 361, the largest number of rigs added since Nov. 7, 2008, the same week the count peaked at 442, Baker Hughes said Friday on its website. Natural gas rigs declined by six, pulling the overall U.S. oil and gas rig count up 23, or 2.1 per cent, to 1,101, the highest since March.
The number of oil rigs has increased for nine consecutive weeks as futures prices traded near the year's highs. Futures touched a one-year high of $82 US a barrel on Oct. 21 on the New York Mercantile Exchange.
Texas, the state with more oil and gas rigs than any other, added 25 rigs, or 6.1 per cent, to 432.
Natural gas rigs fell by six, or 0.8 per cent, to 728, Baker Hughes said. The count is down 55 per cent from a peak of 1,606 on Sept. 12, 2008.
Gas for December delivery fluctuated, rising 0.3 per cent to $4.373 per million BTU at 2 p.m. on the NYMEX.
Canadian rigs added 30, or 13 per cent, to 263, the highest since March.
This is an extract from Edmonton Journal at http://www.edmontonjournal.com/business/Number+working+rigs+jumps+year+highest+Baker+Hughes+says/2222780/story.html
Monday, November 9, 2009
Explorers return to rigs to reap rising oil price and buoyant economy
THE number of rigs used by oil and gas explorers in Asia rose for the first time in seven months in October, according to data from the oilfield specialists Baker Hughes. The rise coincided with rising oil prices and signs of growth in global economies.
The Asia-Pacific region used 247 rigs on land and water last month, compared with 244 a year earlier, the first increase since March, Baker Hughes said. It compared with 246 rigs in September.
''Oil prices are strong, and gas prices as a result are higher in Asia,'' said Tony Regan, a consultant at Tri-Zen International in Singapore. ''Lots of activity in Asia is gas related - proving up reserves for liquefied natural gas.''
Crude oil prices in New York have gained about 75 per cent since the start of the year to $78.28 a barrel as investors expected the economy to recover and drive fuel demand.
The S&P 500 has soared 58 per cent from a 12-year low in March after $11.6 trillion in government spending, lending and guarantees returned the US economy to growth following a year of contraction.
Rig use peaked at 265 in June last year, a month before oil prices hit a record $147.27 a barrel. Last month the Asia-Pacific accounted for about 25 per cent of the 983 rigs used worldwide, excluding the US and Canada. The count was 1096 a year earlier, Baker Hughes said, and 986 in September.
There were 2271 rigs operating worldwide at the end of last month, 68 more than in September as the US added drilling equipment, Baker Hughes said. Rig use was 3518 a year earlier. The figure includes offshore and onshore drill sites, excluding those in Iran and onshore in China.
Baker Hughes has published rig counts since 1944. The monthly international count started in 1975.
This is an extract from http://www.theage.com.au/business/explorers-return-to-rigs-to-reap-rising-oil-price-and-buoyant-economy-20091109-i5fl.html
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For Oil & Gas Prices , Oil Price History, Oil Price Research.
The Asia-Pacific region used 247 rigs on land and water last month, compared with 244 a year earlier, the first increase since March, Baker Hughes said. It compared with 246 rigs in September.
''Oil prices are strong, and gas prices as a result are higher in Asia,'' said Tony Regan, a consultant at Tri-Zen International in Singapore. ''Lots of activity in Asia is gas related - proving up reserves for liquefied natural gas.''
Crude oil prices in New York have gained about 75 per cent since the start of the year to $78.28 a barrel as investors expected the economy to recover and drive fuel demand.
The S&P 500 has soared 58 per cent from a 12-year low in March after $11.6 trillion in government spending, lending and guarantees returned the US economy to growth following a year of contraction.
Rig use peaked at 265 in June last year, a month before oil prices hit a record $147.27 a barrel. Last month the Asia-Pacific accounted for about 25 per cent of the 983 rigs used worldwide, excluding the US and Canada. The count was 1096 a year earlier, Baker Hughes said, and 986 in September.
There were 2271 rigs operating worldwide at the end of last month, 68 more than in September as the US added drilling equipment, Baker Hughes said. Rig use was 3518 a year earlier. The figure includes offshore and onshore drill sites, excluding those in Iran and onshore in China.
Baker Hughes has published rig counts since 1944. The monthly international count started in 1975.
This is an extract from http://www.theage.com.au/business/explorers-return-to-rigs-to-reap-rising-oil-price-and-buoyant-economy-20091109-i5fl.html
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For Oil & Gas Prices , Oil Price History, Oil Price Research.
Yantai Raffles buys jack-up yard
Yantai Raffles Offshore Ltd, a subsidiary of Yantai Raffles Shipyard Limited, has entered into an agreement to purchase a 100% equity interest in Sanlian Longkou shipyard in Shandong, China for a cash consideration of RMB 291Million. Completion of the acquisition is subject to required regulatory approvals.
The shipyard, with an existing land area of more than 400,000 sqm, will be developed as one of the world's largest jack-up rig fabrication yards.
Deputy Chairman Brian Chang said "We are delighted to announce the acquisition of Sanlian Longkou. Through this purchase we can expand our capacity, improve our efficiency and embark on delivering quality products to our customers at a competitive price and on time. Our long term plan is to become the number one supplier of jack-up drilling rigs in the world within the next 3-5 years."
Extract from http://www.marinelog.com/DOCS/NEWSMMIX/2009nov00061.html
The shipyard, with an existing land area of more than 400,000 sqm, will be developed as one of the world's largest jack-up rig fabrication yards.
Deputy Chairman Brian Chang said "We are delighted to announce the acquisition of Sanlian Longkou. Through this purchase we can expand our capacity, improve our efficiency and embark on delivering quality products to our customers at a competitive price and on time. Our long term plan is to become the number one supplier of jack-up drilling rigs in the world within the next 3-5 years."
Extract from http://www.marinelog.com/DOCS/NEWSMMIX/2009nov00061.html
Friday, November 6, 2009
Sembcorp Marine to build new rig yard in Singapore
Sembcorp Marine, the world's number-two builder of offshore oil rigs, will build a new yard in Singapore to meet demand for oil rigs, with the first phase of the project to cost S$750 million ($537 million). Sembcorp Marine has secured a S$300 million term loan and S$400 million revolving credit facilities with various banks to finance the construction of the yard, it said in a statement.
The first phase will be completed four years after work begins next month, it said.
This is an extract from http://in.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idINSGC00336020091104
The first phase will be completed four years after work begins next month, it said.
This is an extract from http://in.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idINSGC00336020091104
East Timor signals compensation claim over leaking oil rig
East Timor says it will seek compensation from Australia if its waters or shores are polluted by a leaking oil rig.
The West Atlas Rig spewed gas and oil into the Timor Sea for 10 weeks, producing a massive ocean slick before it was finally plugged.
East Timor's president says there are concerns the slick may enter domestic waters... and says if that happens he'll also call on the rig's Thai owners to pay for damages.
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For buying and selling offshore rigs
The West Atlas Rig spewed gas and oil into the Timor Sea for 10 weeks, producing a massive ocean slick before it was finally plugged.
East Timor's president says there are concerns the slick may enter domestic waters... and says if that happens he'll also call on the rig's Thai owners to pay for damages.
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For buying and selling offshore rigs
Sunday, November 1, 2009
Saturday, October 31, 2009
US Oil, Gas Rig Count Up 21 To 1,069 This Week
The number of rigs drilling for oil and gas in the U.S. rose this week as producers ramped up drilling activity in response to higher prices.
The number of oil and gas rigs climbed to 1,069, up 21 rigs from the previous week, according to data from oilfield services company Baker Hughes Inc. (BHI). The number of gas rigs was 728, an increase of three rigs from last week, while the oil rig count was 330, an increase of 18 rigs. The number of miscellaneous rigs was unchanged at 11.
The number of rigs drilling for oil in the U.S. has increased as energy producers move to take advantage of oil futures prices, which have more than doubled since February.
Producers have curtailed natural gas drilling sharply over the past several months in response to declining prices. But the rig count has begun to stabilize as producers lock in prices on future production and bet on colder weather and an economic recovery that would spark demand for the fuel.
The number of natural gas rigs in the U.S. peaked in September 2008 at 1,606 rigs.
The biggest declines in natural gas drilling have occurred in vertical drilling rigs, which are used to drill straight down into conventional oil and gas reservoirs. The number of vertical drilling rigs has fallen by about 60% over the last year. Horizontal drilling has declined by 23% over the year as producers have continued to exploit prolific gas fields such as shales.
Gas production from shales has boomed, with new drilling technology that makes it easier to extract gas from dense rock formations. Shale formations, such as the Barnett Shale in Texas, have been largely credited with fueling a surge in domestic gas production. Producers must drill down to the rock, then horizontally through the formation, to break it apart and release the gas trapped within.
A flood of supply from these fields and weak demand for the fuel resulting from the economic downturn have contributed to falling natural gas prices.
Natural gas prices have fallen by more than 60% from their summer 2008 highs above $13 a million British thermal units. Gas supplies, however, have remained abundant.
Natural gas for December delivery on the New York Mercantile Exchange was recently down 6.2 cents, or 1.22%, at $5.00 a million British thermal units.
This is an extract from http://online.wsj.com/article/BT-CO-20091030-716004.html
The number of oil and gas rigs climbed to 1,069, up 21 rigs from the previous week, according to data from oilfield services company Baker Hughes Inc. (BHI). The number of gas rigs was 728, an increase of three rigs from last week, while the oil rig count was 330, an increase of 18 rigs. The number of miscellaneous rigs was unchanged at 11.
The number of rigs drilling for oil in the U.S. has increased as energy producers move to take advantage of oil futures prices, which have more than doubled since February.
Producers have curtailed natural gas drilling sharply over the past several months in response to declining prices. But the rig count has begun to stabilize as producers lock in prices on future production and bet on colder weather and an economic recovery that would spark demand for the fuel.
The number of natural gas rigs in the U.S. peaked in September 2008 at 1,606 rigs.
The biggest declines in natural gas drilling have occurred in vertical drilling rigs, which are used to drill straight down into conventional oil and gas reservoirs. The number of vertical drilling rigs has fallen by about 60% over the last year. Horizontal drilling has declined by 23% over the year as producers have continued to exploit prolific gas fields such as shales.
Gas production from shales has boomed, with new drilling technology that makes it easier to extract gas from dense rock formations. Shale formations, such as the Barnett Shale in Texas, have been largely credited with fueling a surge in domestic gas production. Producers must drill down to the rock, then horizontally through the formation, to break it apart and release the gas trapped within.
A flood of supply from these fields and weak demand for the fuel resulting from the economic downturn have contributed to falling natural gas prices.
Natural gas prices have fallen by more than 60% from their summer 2008 highs above $13 a million British thermal units. Gas supplies, however, have remained abundant.
Natural gas for December delivery on the New York Mercantile Exchange was recently down 6.2 cents, or 1.22%, at $5.00 a million British thermal units.
This is an extract from http://online.wsj.com/article/BT-CO-20091030-716004.html
Sunday, October 25, 2009
US natural gas rig count climbs 4 to 725 for week
This is an extract from : http://www.reuters.com/article/rbssEnergyNews/idUSN2311533920091023
The number of rigs drilling for natural gas in the United States climbed by four this week to 725, according to a report on Friday by oil services firm Baker Hughes in Houston.
The U.S. natural gas drilling rig count has gained in 12 of the last 14 weeks after bottoming at 665 on July 17, its lowest level since May 3, 2002, when there were 640 gas rigs operating.
But the rig count is still down sharply since peaking above 1,600 in September of last year, standing at 804 rigs, or 53 percent, below the same week in 2008.
Many gas producers have been forced to scale back drilling operations with credit still tight and natural gas prices around $5 per million British thermal units (mmBtu), down more than 60 percent from July 2008 highs above $13.
The steep declines in drilling this year have started to slow production and tighten supplies, but most traders agreed it has not been enough yet to offset record high inventories and steep recession-related cuts in demand, particularly from the industrial sector. (Reporting by Joe Silha; Editing by Lisa Shumaker)
The number of rigs drilling for natural gas in the United States climbed by four this week to 725, according to a report on Friday by oil services firm Baker Hughes in Houston.
The U.S. natural gas drilling rig count has gained in 12 of the last 14 weeks after bottoming at 665 on July 17, its lowest level since May 3, 2002, when there were 640 gas rigs operating.
But the rig count is still down sharply since peaking above 1,600 in September of last year, standing at 804 rigs, or 53 percent, below the same week in 2008.
Many gas producers have been forced to scale back drilling operations with credit still tight and natural gas prices around $5 per million British thermal units (mmBtu), down more than 60 percent from July 2008 highs above $13.
The steep declines in drilling this year have started to slow production and tighten supplies, but most traders agreed it has not been enough yet to offset record high inventories and steep recession-related cuts in demand, particularly from the industrial sector. (Reporting by Joe Silha; Editing by Lisa Shumaker)
Saturday, October 17, 2009
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Keppel AmFELS launches first of four oil rigs
This is an extract from "The Monitor" at http://www.themonitor.com/news/launches-31661-amfels-oil.html
A massive offshore drilling rig slid into the water with
a mighty splash Friday morning at the Keppel AmFELS yard at the Port of Brownsville as launch crews raced to beat an approaching storm.
A triumphal roar went up from the crowd, which included scores of hard hat-wearing workers who had helped build the seagoing structure. Tugboats immediately went to work corralling the ponderously named Rowan EXL Super 116E No.1 — the first of four “jack-up” rigs Keppel AmFELs is building for Houston-based Rowan Drilling Co. Inc. Jack-up refers to the way the rigs are stabilized once they’re in place, with telescopic legs dropping down to the sea floor to raise the rig’s platform high above the waves.
Rowan president David Russell seemed to be riding high himself while on hand to witness the launch of the EXL, which was festooned with red, white and blue bunting.
“This is a very exciting day,” he said, explaining that his company owns LeTourneau, the firm that provides the ready-made components that Keppel AmFELS uses to build the giant rigs, which can operate in
350 feet of water or more and drill to a depth of 35,000 feet, or about 6.6 miles. Each rig costs just under $200 million.
“These are 50-year investments for us,” Russell said. “This rig is a little bigger and little stronger than most out there, so it’s a little more expensive. It will work in deeper water and can drill to greater depths.”
The drilling company specializes in ultra-deep drilling for natural gas, though exactly where EXL No. 1 winds up depends on the oil and gas company with which Rowan ends up contracting. The destination could be the Gulf of Mexico, the Middle East or elsewhere. Most of Rowan’s rigs are 50-100 miles offshore — far enough that they can’t be seen from the mainland — Russell said.
“In some unique situations we’re closer to the beach, but these rigs are very environmentally friendly,” he added. “It’s best in class.”
G.S. Tan, president and chief executive of Keppel AmFELS, said it takes 22-24 months to build the 35 million-pound EXL, three more of which are slated to be launched in four-month intervals until the order is complete.
Although it’s in the water, the first rig won’t actually be put into service for months, since further assembly is required. That includes installing the telescopic legs, equipment, living accommodations, helipad and other elements.
“We still have a good six or seven months of work,” Tan said. “A rig like that will keep about 1,000 people employed. Right now at AmFELS we have 1,600 employed because we are building five rigs.”
Donna Eymard, the port’s deputy director, calls Keppel AmFELS a “tremendous asset” for the economic splash the company makes not just in the Brownsville area but across the state.
“They bring all the big oil companies that they’re doing this work for,” she said. “Their employees stay here while they’re working on it. They rent houses. They go out to eat in restaurants. They buy things. So it’s just a tremendous economic benefit for the whole area and for the port as well.”
Eymard said events like Friday’s EXL launch are a feather in the cap for the port — and probably a source of satisfaction for the workers who build the rigs.
“I can imagine it’s a big source of pride to finally see it go in the water,” she says. “It is a big source of pride for everybody here. For AmFELS, for the port, for Rowan, it’s a good day.”
Steve Clark is a reporter for The Brownsville Herald.
A massive offshore drilling rig slid into the water with
a mighty splash Friday morning at the Keppel AmFELS yard at the Port of Brownsville as launch crews raced to beat an approaching storm.
A triumphal roar went up from the crowd, which included scores of hard hat-wearing workers who had helped build the seagoing structure. Tugboats immediately went to work corralling the ponderously named Rowan EXL Super 116E No.1 — the first of four “jack-up” rigs Keppel AmFELs is building for Houston-based Rowan Drilling Co. Inc. Jack-up refers to the way the rigs are stabilized once they’re in place, with telescopic legs dropping down to the sea floor to raise the rig’s platform high above the waves.
Rowan president David Russell seemed to be riding high himself while on hand to witness the launch of the EXL, which was festooned with red, white and blue bunting.
“This is a very exciting day,” he said, explaining that his company owns LeTourneau, the firm that provides the ready-made components that Keppel AmFELS uses to build the giant rigs, which can operate in
350 feet of water or more and drill to a depth of 35,000 feet, or about 6.6 miles. Each rig costs just under $200 million.
“These are 50-year investments for us,” Russell said. “This rig is a little bigger and little stronger than most out there, so it’s a little more expensive. It will work in deeper water and can drill to greater depths.”
The drilling company specializes in ultra-deep drilling for natural gas, though exactly where EXL No. 1 winds up depends on the oil and gas company with which Rowan ends up contracting. The destination could be the Gulf of Mexico, the Middle East or elsewhere. Most of Rowan’s rigs are 50-100 miles offshore — far enough that they can’t be seen from the mainland — Russell said.
“In some unique situations we’re closer to the beach, but these rigs are very environmentally friendly,” he added. “It’s best in class.”
G.S. Tan, president and chief executive of Keppel AmFELS, said it takes 22-24 months to build the 35 million-pound EXL, three more of which are slated to be launched in four-month intervals until the order is complete.
Although it’s in the water, the first rig won’t actually be put into service for months, since further assembly is required. That includes installing the telescopic legs, equipment, living accommodations, helipad and other elements.
“We still have a good six or seven months of work,” Tan said. “A rig like that will keep about 1,000 people employed. Right now at AmFELS we have 1,600 employed because we are building five rigs.”
Donna Eymard, the port’s deputy director, calls Keppel AmFELS a “tremendous asset” for the economic splash the company makes not just in the Brownsville area but across the state.
“They bring all the big oil companies that they’re doing this work for,” she said. “Their employees stay here while they’re working on it. They rent houses. They go out to eat in restaurants. They buy things. So it’s just a tremendous economic benefit for the whole area and for the port as well.”
Eymard said events like Friday’s EXL launch are a feather in the cap for the port — and probably a source of satisfaction for the workers who build the rigs.
“I can imagine it’s a big source of pride to finally see it go in the water,” she says. “It is a big source of pride for everybody here. For AmFELS, for the port, for Rowan, it’s a good day.”
Steve Clark is a reporter for The Brownsville Herald.
Thursday, October 15, 2009
Sunday, October 11, 2009
U.S. natural gas rig count climbs 14 to 726
This is an extract from : http://www.reuters.com/article/rbssOilRelatedServicesEquipment/idUSN097607720091009
The number of rigs drilling for natural gas in the United States climbed by 14 this week to 726, according to a report on Friday by oil services firm Baker Hughes in Houston.
The U.S. natural gas drilling rig count has gained in 11 of the last 12 weeks but is still down sharply since peaking above 1,600 in September last year, standing at 822 rigs, or 53 percent, below the same week last year.
During the week ended July 17, 2009, the natural gas rig count slipped to 665, its lowest level since May 3, 2002, when there were 640 gas rigs operating.
Tighter access to credit and a 70 percent slide in natural gas prices over the past 15 months to below $4 per mmBtu forced many producers to scale back gas drilling operations.
The steep declines in drilling this year have started to slow production and tighten supplies, but most traders agreed it has not been enough yet to offset record high inventories and steep recession-related cuts in demand, particularly from the industrial sector. (Reporting by Joe Silha; Editing by Walter Bagley)
The number of rigs drilling for natural gas in the United States climbed by 14 this week to 726, according to a report on Friday by oil services firm Baker Hughes in Houston.
The U.S. natural gas drilling rig count has gained in 11 of the last 12 weeks but is still down sharply since peaking above 1,600 in September last year, standing at 822 rigs, or 53 percent, below the same week last year.
During the week ended July 17, 2009, the natural gas rig count slipped to 665, its lowest level since May 3, 2002, when there were 640 gas rigs operating.
Tighter access to credit and a 70 percent slide in natural gas prices over the past 15 months to below $4 per mmBtu forced many producers to scale back gas drilling operations.
The steep declines in drilling this year have started to slow production and tighten supplies, but most traders agreed it has not been enough yet to offset record high inventories and steep recession-related cuts in demand, particularly from the industrial sector. (Reporting by Joe Silha; Editing by Walter Bagley)
Thursday, October 8, 2009
Wednesday, October 7, 2009
Brazil Petrobras To Issue Tender Details For 28 Rigs Next Week
This is an extract from http://online.wsj.com/article/BT-CO-20091007-709620.html
RIO DE JANEIRO (Dow Jones)--Brazilian state-run oil company Petrobras (PBR) plans to issue tender details next week for 28 deep-sea and ultra deep-sea drilling rigs, Guilherme Estrella, director for exploration and production, said Wednesday.
Estrella said the first eight rigs would be contracted for Petrobras ownership and exclusive use, while the other 20 would be freighted to other companies.
Renato Duque, director for Petrobras services, said local content in the rigs would be an important consideration. The first two rigs would require 20% Brazilian-supplied equipment and materials, rising to 50% for rigs number six and seven.
Duque said foreign content, especially in drilling equipment, was currently 100%.
Petrobras also wanted to raise the presence of Brazilian engineering in its projects at all levels, from macro to micro levels, he said.
Estrella gave no ballpark figure price for the rigs and said the market would decide.
Delivery for the first seven rigs would be within 48 months and the other 21 within 40 months.
Estrella said the decision to order such a large number of rigs was to provide economies of scale for any new shipyards.
Estrella also said the market for deep rigs and ultra-deep rigs was currently "tight" and there had been no recent price reductions despite the global economic crisis.
- By John Kolodziejski, Dow Jones Newswires; 55-21-2586-6086; John.Kolodziejski@dowjones.com
RIO DE JANEIRO (Dow Jones)--Brazilian state-run oil company Petrobras (PBR) plans to issue tender details next week for 28 deep-sea and ultra deep-sea drilling rigs, Guilherme Estrella, director for exploration and production, said Wednesday.
Estrella said the first eight rigs would be contracted for Petrobras ownership and exclusive use, while the other 20 would be freighted to other companies.
Renato Duque, director for Petrobras services, said local content in the rigs would be an important consideration. The first two rigs would require 20% Brazilian-supplied equipment and materials, rising to 50% for rigs number six and seven.
Duque said foreign content, especially in drilling equipment, was currently 100%.
Petrobras also wanted to raise the presence of Brazilian engineering in its projects at all levels, from macro to micro levels, he said.
Estrella gave no ballpark figure price for the rigs and said the market would decide.
Delivery for the first seven rigs would be within 48 months and the other 21 within 40 months.
Estrella said the decision to order such a large number of rigs was to provide economies of scale for any new shipyards.
Estrella also said the market for deep rigs and ultra-deep rigs was currently "tight" and there had been no recent price reductions despite the global economic crisis.
- By John Kolodziejski, Dow Jones Newswires; 55-21-2586-6086; John.Kolodziejski@dowjones.com
Sunday, October 4, 2009
N.S. gov't and EnCana agree to extend onshore rig project by two years
This is an axtract from http://www.google.com/hostednews/canadianpress/article/ALeqM5h101wQWr0Jy-s1LzKzRtQCxbZD3A
An idle $35-million onshore rig-building program in Cape Breton has been given a two-year extension by the province and EnCana Corp (TSX:ECA).
Nova Scotia Energy Minister Bill Estabrooks said Wednesday the extension will give Laurentian Energy more time to deal with a decline in drilling activity in Western Canada.
The original deal, first announced last October, would have seen Laurentian build two onshore rigs for Nabors Canada at its Sydport facility in Sydney, N.S., creating about 75 jobs.
EnCana was expected to provide up to $1 million per rig, for up to five rigs, as part of offshore energy agreements with the province.
However, work was halted on the partially built rigs because of the downturn in Canada's oilpatch.
Estabrooks wouldn't say whether there was any guarantee that the work on the onshore rigs would be done.
"We've got a two-year extension at this stage and I'm satisfied with that . . . I guess time will tell and it's something we'll have to address in our ongoing relationship with the company."
When pressed about what that meant, Estabrooks said it would depend on the health of the economy in Western Canada.
Under EnCana's agreement with the province, the company must deliver at least 1.35 million hours of work, including 850,000 hours for Nova Scotians.
Questions have dogged the agreement governing the $760-million Deep Panuke offshore gas project, especially after EnCana obtained regulatory approval to hire a foreign company to build its offshore accommodations.
The province has said there is 280,000 person hours involved in building the accommodations but there will not be an equivalent amount of work done in the province.
But Estabrooks said he was confident EnCana would meet the terms for providing work in Nova Scotia as set out in the offshore agreement.
"When we look at the final outcome of this, there will be more jobs available, there will be more contributions to the economy of Nova Scotia," he said. "EnCana has a proven record and we're going to give them an opportunity."
But Liberal energy critic Andrew Younger is skeptical.
"It sounds a bit funny to me because, obviously, the work targets were based on a fairly large accommodations module being done here and that's not being done," said Younger.
Deep Panuke is scheduled to begin producing gas for major markets in the U.S. northeast and to some customers in the Maritimes in 2010.
An idle $35-million onshore rig-building program in Cape Breton has been given a two-year extension by the province and EnCana Corp (TSX:ECA).
Nova Scotia Energy Minister Bill Estabrooks said Wednesday the extension will give Laurentian Energy more time to deal with a decline in drilling activity in Western Canada.
The original deal, first announced last October, would have seen Laurentian build two onshore rigs for Nabors Canada at its Sydport facility in Sydney, N.S., creating about 75 jobs.
EnCana was expected to provide up to $1 million per rig, for up to five rigs, as part of offshore energy agreements with the province.
However, work was halted on the partially built rigs because of the downturn in Canada's oilpatch.
Estabrooks wouldn't say whether there was any guarantee that the work on the onshore rigs would be done.
"We've got a two-year extension at this stage and I'm satisfied with that . . . I guess time will tell and it's something we'll have to address in our ongoing relationship with the company."
When pressed about what that meant, Estabrooks said it would depend on the health of the economy in Western Canada.
Under EnCana's agreement with the province, the company must deliver at least 1.35 million hours of work, including 850,000 hours for Nova Scotians.
Questions have dogged the agreement governing the $760-million Deep Panuke offshore gas project, especially after EnCana obtained regulatory approval to hire a foreign company to build its offshore accommodations.
The province has said there is 280,000 person hours involved in building the accommodations but there will not be an equivalent amount of work done in the province.
But Estabrooks said he was confident EnCana would meet the terms for providing work in Nova Scotia as set out in the offshore agreement.
"When we look at the final outcome of this, there will be more jobs available, there will be more contributions to the economy of Nova Scotia," he said. "EnCana has a proven record and we're going to give them an opportunity."
But Liberal energy critic Andrew Younger is skeptical.
"It sounds a bit funny to me because, obviously, the work targets were based on a fairly large accommodations module being done here and that's not being done," said Younger.
Deep Panuke is scheduled to begin producing gas for major markets in the U.S. northeast and to some customers in the Maritimes in 2010.
Saturday, October 3, 2009
Used Barge Rigs For Sale, Barge Drilling Rigs for sale
Used Barge Rigs For Sale, Barge Drilling Rigs for sale: "Barge Drilling Rigs For Sale"
Friday, October 2, 2009
Saudi Arab looses heavily on OPEC directed oil cut ; Essar Oilfields raises $240 million for rig ; US tax breaks subsidize foreign oil production ;
Tuesday, September 22, 2009
Is it possible to forecast oil prices
With the present economic climate, it is actually even to vaguely guess the oil price forecast.
Of the 184 votes gathered in Worldoils, for the guesstimate oil price at the end of 2009, 64 votes were for the prices between $76 and $85 followed by 40 votes for $66 to $77.
Many analysts are predicting the Crude Oil Prices to fall below $50, where as many analysts are predicting theCrude Oil Prices to be over $70.
Crude Oil Price History.
Crude Oil Price Research.
Monday, September 21, 2009
Baker Hughes: US Oil, Gas Rig Count Up 11 To 1,010 This Week
HOUSTON (Dow Jones)--The number of rigs drilling for oil and natural gas in the U.S. climbed this week as producers put some rigs back to work amid expectations for higher prices.
The number of oil and gas rigs rose to 1,010, up 11 rigs from the previous week, according to data from oil-field services company Baker Hughes Inc. (BHI). The number of gas rigs was 705, an increase of six rigs from last week, while the oil rig count was 293, an increase of five rigs. The number of miscellaneous rigs was unchanged at 12 rigs.
The number of gas rigs in use peaked at 1,606 in September 2008. Producers have scaled back natural gas drilling over the past several months amid falling prices, but the gas rig count has begun to stabilize as producers bet on a rebound in prices. Natural gas prices have fallen by more than 70% from their highs last summer above $13 a million British thermal units.
Natural gas supplies remain strong, but analysts expect the sharp decline in drilling activity over the last year will eventually bring supply back in line with demand, bolstering gas prices.
Natural gas for October delivery on the New York Mercantile Exchange was recently up 19.7 cents, or 5.7%, at $3.655 a million British thermal units.
-By Jason Womack, Dow Jones Newswires; 713-547-9201; jason.womack@dowjones.com
This is an extract from http://online.wsj.com/article/BT-CO-20090918-708938.html
The number of oil and gas rigs rose to 1,010, up 11 rigs from the previous week, according to data from oil-field services company Baker Hughes Inc. (BHI). The number of gas rigs was 705, an increase of six rigs from last week, while the oil rig count was 293, an increase of five rigs. The number of miscellaneous rigs was unchanged at 12 rigs.
The number of gas rigs in use peaked at 1,606 in September 2008. Producers have scaled back natural gas drilling over the past several months amid falling prices, but the gas rig count has begun to stabilize as producers bet on a rebound in prices. Natural gas prices have fallen by more than 70% from their highs last summer above $13 a million British thermal units.
Natural gas supplies remain strong, but analysts expect the sharp decline in drilling activity over the last year will eventually bring supply back in line with demand, bolstering gas prices.
Natural gas for October delivery on the New York Mercantile Exchange was recently up 19.7 cents, or 5.7%, at $3.655 a million British thermal units.
-By Jason Womack, Dow Jones Newswires; 713-547-9201; jason.womack@dowjones.com
This is an extract from http://online.wsj.com/article/BT-CO-20090918-708938.html
Wednesday, September 2, 2009
If you are looking for jobs in the Maritime sector :
Maritime Jobs
If you are looking for jobs in the Oil & Gas sector :
Oil & Gas Jobs
If you are looking for Oil Rig Jobs :
Oil Rig Jobs
If you are looking for Oil Engineer Jobs :
Oil Engineer Jobs
If you are looking for Oil Drilling Jobs :
Oil Drilling Jobs
Maritime Jobs
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Oil & Gas Jobs
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Oil Rig Jobs
If you are looking for Oil Engineer Jobs :
Oil Engineer Jobs
If you are looking for Oil Drilling Jobs :
Oil Drilling Jobs
Sunday, April 5, 2009
Used Land Drilling Rig for Sale - EMSCO GB 500 +/- 12,000' Drilling Rig for sale
EMSCO GB 500 +/- 12,000' Drilling Rig for sale.
If you are interested in purchasing this rig, please send an email to rigs@worldoils.com with "EMSCO GB 500 +/- 12,000' Drilling Rig (9000-248) " in the subject line,or call +65 97768837 for more information.
For more land rigs please visit the Land Drilling Rigs site.
Thursday, April 2, 2009
National 370 +/- 10,000' Drilling Rig
National 370 +/- 10,000' Drilling Rig for Sale.
If you are interested in this rig, please send an email to rigs@worldoils.com with "National 370 +/- 10,000' Drilling Rig (9000-239) " in the subject line,or call +65 97768837 for more information.
Tuesday, March 31, 2009
Land rig for sale - TSM 850 +/- 12,000' Mechanical Drilling Rig for Sale
TSM 850 +/- 12,000' Mechanical Drilling Rig for Sale
For more information and photos, please visit :
For more information and photos, please visit :
www.worldoils.com/landrigs/rig249.php
If you are interested in this rig, please send an email to rigs@worldoils.com with "TSM 850 +/- 12,000' Mechanical Drilling Rig (9000-249) " in the subject line,or call +65 97768837 for more information.
If you are interested in this rig, please send an email to rigs@worldoils.com with "TSM 850 +/- 12,000' Mechanical Drilling Rig (9000-249) " in the subject line,or call +65 97768837 for more information.
OIME 3000 HP SCR +/- 30,000' Drilling Rig for sale
Worldoils Land Rigs Marketplace - Land Rigs for sale
Land drilling rig for sale : OIME 3000 HP SCR +/- 30,000' Drilling Rig
For more details and photos : http://worldoils.com/landrigs/rig212.php
If you are interested in this rig, please send an email to rigs@worldoils.com with "OIME 3000 HP SCR +/- 30,000' Drilling Rig (9000-212) " in the subject line,or call +65 97768837 for more information.
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