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
Saturday, October 31, 2009
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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Introduction to Land & Offshore Drilling - Training
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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 ;
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