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FiDDSurvey TrainingStaying Ahead of the Curve
IADD News

 NEW YORK (AP) — The price of oil has fallen by nearly half in just six months, a surprising and steep plunge that has consumers cheering, producers howling and economists wringing their hands over whether this is a good or bad thing.

The price of a barrel of oil is just under $58, down from a summer high of $107, and lower than at any time since the U.S. was still in recession in the spring of 2009.

So what's going on? A global imbalance of supply and demand that is rippling across the world economy, for better and worse.

By Jonathan Fahey, Associated Press


 

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 U.S. Rig Count is down 18 rigs from last week to 1875, with oil rigs down 10 to 1536, gas rigs down 8 to 338, and miscellaneous rigs unchanged at 1.

U.S. Rig Count is up 107 rigs from last year at 1768, with oil rigs up 141, gas rigs down 34, and miscellaneous rigs unchanged at 1.

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 HOUSTON – As many as 550 drilling rigs may have to sit on the sidelines of U.S. shale oil patches over the next few months, analysts say, as oil prices have folded nearly in half since this summer.
The projections come a few days after Texas drilling rigs led the nation in a 1.4 percent weekly decline in the U.S. active rig count, according to oil field services firm Baker Hughes. Oil companies cut 20 rigs in the Permian Basin, a sharp turnaround from the flurry of rigs and hydraulic fracturing equipment that had rushed to West Texas earlier this year.

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U.S. Rig Count is down 27 rigs from last week to 1893, with oil rigs down 29 to 1546, gas rigs up 2 to 346, and miscellaneous rigs unchanged at 1.
 

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This is a 5 day course for personnel involved in wellbore positioning to learn about the latest techniques and tools including high accuracy drilling techniqus such as sag, multi station analysis and IFR. The course will cover error modelling, collision avoidance, relief well drilling and ranging.

The course will be presented by Prof Angus Jamieson of the University of the Highlands and Islands, a well know consultant in directional drilling and surveying and former chairman of the ISCWSA committee. Angus was the main author of the e-book, ‘Introduction to Borehole Surveying’ which can be downloaded free from the ISCWSA.net website.
 

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HOUSTON — The Eagle Ford shale formation produced its billionth barrel some time last month, analysts at research firm Wood Mackenzie said Thursday.

That production figure includes crude oil and condensate, and more than 70 percent of that production has occurred in the last two years, according to the firm.
 

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U.S. Rig Count is up 3 rigs from last week to 1920, with oil rigs up 3 to 1575, gas rigs unchanged at 344, and miscellaneous rigs unchanged at 1.
 

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HOUSTON – Southwestern Energy Co. is planning to pay $300 million for thousands of acres in a natural gas-rich region of Pennsylvania, little more than six weeks after its multibillion-dollar deal to buy gas land nearby.
 

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Chevron Corporation (NYSE: CVX) announced that crude oil and natural gas production has begun at the Jack/St. Malo project in the Lower Tertiary trend, deepwater U.S. Gulf of Mexico. Jack/St. Malo is a key part of Chevron's strong queue of upstream projects and was delivered on time and on budget.
 

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The Anti Stick-Slip Tool (AST) mechanism absorb both the torsional and axial spikes resulting from the increasingly difficult weight transfer. The same  energy is then fed back to provide for a steady load on the bit. 

 

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