Well drilling

Weatherford Announces First Quarter 2024 Results and Raises Full Year Margin Guidance

Retrieved on: 
Tuesday, April 23, 2024
Petroleum Development Oman, International, BP, Well drilling, WFRD, PTTEP, Artificial intelligence, Capital expenditure, Growth, Gulf of Mexico, Weatherford International, XT, Senior, Machine learning, MPD, Gas lift, Quattro, Acquisition, Line of credit, ESP, Credit, Kuwait Oil Company

HOUSTON, April 23, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) announced today its results for the first quarter of 2024.

Key Points: 
  • Operating income was $233 million in the first quarter of 2024, compared to $185 million in the first quarter of 2023 and $216 million in the fourth quarter of 2023.
  • First quarter 2024 cash flows provided by operating activities were $131 million, compared to $84 million in the first quarter of 2023 and $375 million in the fourth quarter of 2023.
  • Capital expenditures were $59 million in the first quarter of 2024, compared to $64 million in the first quarter of 2023 and $67 million in the fourth quarter of 2023.
  • We closed the first quarter 2024 with total cash of approximately $937 million as of March 31, 2024, down $126 million sequentially.

ADS Services Signs Partnership Contract with Totalindo Energi

Retrieved on: 
Tuesday, July 11, 2023
Other Energy, Oil, Gas, Natural Resources, Energy, Chemicals, Plastics, Other Natural Resources, Mining, Minerals, Manufacturing, Energi, IDC, Partnership, Well drilling, LCA, ADS, Multimedia, MPD, Value-added service, Growth, OEM, Natural gas

ADS Services, LLC ("ADS" or the "Company"), a portfolio company of Black Bay Energy Capital ("Black Bay"), has signed a partnership contract and joint submission agreement with PT Totalindo Energi ("Totalindo Energi") for the supply of Managed Pressure Drilling (MPD) services and equipment.

Key Points: 
  • ADS Services, LLC ("ADS" or the "Company"), a portfolio company of Black Bay Energy Capital ("Black Bay"), has signed a partnership contract and joint submission agreement with PT Totalindo Energi ("Totalindo Energi") for the supply of Managed Pressure Drilling (MPD) services and equipment.
  • View the full release here: https://www.businesswire.com/news/home/20230713544408/en/
    ADS Services Signs Partnership Contract with Totalindo Energi (Photo: ADS Services, LLC)
    PT Totalindo Energi is the only national MPD company in Indonesia and is led by a management team with a long history and experience in the MPD industry.
  • The collaboration between ADS and Totalindo Energi will focus on introducing and integrating dynamic pressure control systems into the region.
  • ADS recently signed a partnership contract and joint submission agreement with the Iraqi Drilling Company (IDC) to provide oil services to the region.

Nighthawk Reports High-Grade Mineralization from Initial Drilling at Cass

Retrieved on: 
Tuesday, August 3, 2021
Well drilling, Oil well, Science and technology, Inventions, Economies

Cass very quickly became a top target for us, given the historical drilling results and the possibility for expansion not only along strike but at depth.

Key Points: 
  • Cass very quickly became a top target for us, given the historical drilling results and the possibility for expansion not only along strike but at depth.
  • "These drilling results illustrate the near-surface high-grade nature of Cass, showcasing good widths and continuity of the mineralization.
  • Drilling tested the core of the zone to confirm historical information and to obtain important geological information on the type of deposit that hosts the mineralization.
  • Drilling also tested the eastern extension of the zone to the northeast, in an area with limited drilling as conducted by Nighthawk in 2014 (see press release dated December 3, 2014).

Superior Drilling Products to Report Second Quarter 2021 Financial Results and Host Conference Call on August 13

Retrieved on: 
Thursday, July 29, 2021
Mining, Minerals, Oil, Gas, Manufacturing, Energy, Natural Resources, Other Manufacturing, Drilling, Machining, Woodworking, Well drilling, Economic sectors, Economy, Secondary sector of the economy

Superior Drilling Products, Inc. (NYSE American: SDPI) (SDP or Company), a designer and manufacturer of drilling tool technologies, today announced that it will release its second quarter 2021 financial results before the opening of financial markets on Friday, August 13, 2021.

Key Points: 
  • Superior Drilling Products, Inc. (NYSE American: SDPI) (SDP or Company), a designer and manufacturer of drilling tool technologies, today announced that it will release its second quarter 2021 financial results before the opening of financial markets on Friday, August 13, 2021.
  • The Company will host a conference call and webcast that day to review the financial and operating results for the quarter and discuss its corporate strategy and outlook.
  • Superior Drilling Products, Inc. is an innovative, cutting-edge drilling tool technology company providing cost saving solutions that drive production efficiencies for the oil and natural gas drilling industry.
  • SDP operates a state-of-the-art drill tool fabrication facility, where it manufactures its solutions for the drilling industry, as well as customers custom products.

West Mining Drills Strong Vein and Stockwork Mineralization on the Starlight Trend of the Daylight Property, BC

Retrieved on: 
Monday, July 26, 2021
Minerals, Earth sciences, Geology, Economic geology, Geomorphology, Structural geology, Vein, Well drilling, Quartz

Four of eight planned diamond drill holes have now been completed on the Starlight Trend along the western portion of the Daylight Property.

Key Points: 
  • Four of eight planned diamond drill holes have now been completed on the Starlight Trend along the western portion of the Daylight Property.
  • Drill holes on the Starlight trend all intercepted the target structure containing quartz veins and stockwork and sulphide mineralization.
  • We are extremely encouraged by the alterations seen in the Great Western and Starlight drill holes, states Nicholas Houghton, President and CEO of West Mining Corp.
  • The Daylight property contains the historic past producing Daylight, Starlight, Victoria, Irene and Great Eastern gold mines.

CA Permit Approvals For New Well Drills Are Down 64% For The First Six Months; Consumer Watchdog Urges Governor To Seize Golden Opportunity To Move From Fossil Fuels

Retrieved on: 
Monday, July 26, 2021
Science and technology, Oil well, Newsom, Drill, Well drilling, Technology, Inventions

"Governor Newsom now has a golden opportunity to seize the moment and come forward with a decisive transition plan off of fossil fuels that includes switching oil workers away from production toward desperately needed well remediation."

Key Points: 
  • "Governor Newsom now has a golden opportunity to seize the moment and come forward with a decisive transition plan off of fossil fuels that includes switching oil workers away from production toward desperately needed well remediation."
  • "Overall, rates of both permit approvals and counts of permit applications to drill new wells have dropped in 2021," said Kyle Ferrar, Western Program Coordinator at FracTracker Alliance.
  • "While the market traditionally drives permit application counts, Governor Newsom now has the opportunity to reduce the expansion of oil extraction.
  • (See Table 1 at: https://consumerwatchdog.org/energy/ca-permit-approvals-new-well-drills-... )Permit approvals to rework wells, including re-drilling, unclogging, and deepening, fell 36%.

PureGold Announces Milestone Second Quarter and Provides Underground Drilling and 8-Zone Updates as Ramp-Up Nears Completion

Retrieved on: 
Tuesday, July 13, 2021
Industrial processes, Woodworking, Well drilling, Drilling, Drill, Economic sectors, Articles

PureGold is also pleased to report high-grade drill intercepts returned from underground drilling completed during the second quarter of 2021.

Key Points: 
  • PureGold is also pleased to report high-grade drill intercepts returned from underground drilling completed during the second quarter of 2021.
  • 14.7 g/t gold over 1.7 metres from drill hole PGU-0203; including
    21.6 g/t gold over 1.0 metre.
  • Results from drilling continue to be integrated into short-term mine planning, with production planned from most of these areas in 2021.
  • As of the end of the second quarter, three air-powered underground core diamond drills were active on the site and focused on delineating gold mineralization with both infill and extension drilling.

Tethys Petroleum Announces Drilling Update

Retrieved on: 
Tuesday, July 13, 2021
Tethys Petroleum, Oil well, Well drilling, Science and technology, Inventions, Economies

Grand Cayman, Cayman Islands--(Newsfile Corp. - July 13, 2021) - Tethys Petroleum Limited (TSXV: TPL) ("Tethys" or the "Company") today provides an update on current drilling activities.

Key Points: 
  • Grand Cayman, Cayman Islands--(Newsfile Corp. - July 13, 2021) - Tethys Petroleum Limited (TSXV: TPL) ("Tethys" or the "Company") today provides an update on current drilling activities.
  • Tethys has completed drilling of the KBD-03 well and is moving storage tanks to the field to enable the production test.
  • It is anticipated that the production from these new wells and KBD-02 will be able to finance the drilling operation.
  • Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region.

VAALCO Secures Rig for 2021/2022 Drilling Campaign

Retrieved on: 
Wednesday, June 16, 2021
Petroleum geology, Petroleum engineering, Drilling rig, Well drilling, Petroleum industry, Science and technology, Petroleum, Petroleum production

The contract provides, among other things, that the drilling rig can be on location as early as December of this year, with the exact timing dependent on other commitments related to the rig.

Key Points: 
  • The contract provides, among other things, that the drilling rig can be on location as early as December of this year, with the exact timing dependent on other commitments related to the rig.
  • George Maxwell, Chief Executive Officer, commented, We continue to work with our joint owners at Etame on our shared goal of executing another successful drilling campaign that can significantly add production and reserves.
  • We are excited to get our next drilling campaign underway later this year.
  • VAALCO, founded in 1985, is a Houston, USA based, independent energy company with production, development and exploration assets in the West African region.

LATAM Oilfield Chemicals Market to 2026 - Brazil to Dominate the Industry - ResearchAndMarkets.com

Retrieved on: 
Wednesday, June 16, 2021
Chemicals, Plastics, Energy, Manufacturing, Oil, Gas, Oil well, Well drilling, Science and technology, Inventions, Economies

The rise in the deep-water drilling activities is expected to drive the oilfield chemicals market in the future.

Key Points: 
  • The rise in the deep-water drilling activities is expected to drive the oilfield chemicals market in the future.
  • The rise in the deep-water drilling activities is expected to drive the oilfield chemicals market in the future.
  • Moreover, the strong demand for drilling segment in the Latin American market, as well as the new joint ventures and mergers among the existing big players in the market, are expected to engender huge opportunities in the LATAM oilfield chemicals market.
  • Latin America is expected to have a significant share in the oilfield chemicals market, due to the increasing exploration and production activities in Brazil, Mexico, Guyana, and Argentina.