Drilling & production

Drilling Systems has launched a new licence-based pricing model which will cut the overall cost of entry level simulator technology by more than half.

The four-year agreement with Petrobras represents the largest fishing contract ever signed by Weatherford.

The company has upgraded its full year oil production guidance to 21 000 – 23 000 bpd from 19 000 – 22 000 bpd.

The deepening of well C-37 has identified three untapped oil-bearing clastic layers forming a total net pay zone of approximately 16 m.

The move follows recent investment in the company from a US-based private equity firm.

The well, offshore the Shetland Islands, UK, was shut-in yesterday to enable a planned pressure build-up test.

Analysis of the wireline logs acquired during drilling of the well supports the interpretation of a 77 m gross interval of potential oil reservoir.

The laboratory is part of a global Clariant initiative to expand HTE capabilities to all Clariant Business Units, including direct support for oil services in North America, the Asia Pacific region, Latin America, Africa and the North Sea.

The Oil and Gas Authority estimates that approximately 180 wells in the North Sea have issues with scale formation, which cost the industry approximately £106 million in 2017 alone.

After reaching plateau for the first phase of the Johan Sverdrup development, expected during the summer of 2020, Equinor expects operating costs below US$2 per barrel.

The company has also appointed a new chairman to replace Jock Lennox, who will step down from his position at the end of September.

The company has received a firm Letter of Award for the high-specification jack-up drilling unit Energy Emerger.

The contracts, with major North Sea operators, are for TWMA to provide offshore processing of drilling waste.

The company's drilling technology has increased accessible reserves on Ivar Aasen, while its Fishbones jetting system has matched the productivity of proppant fractured wells on Valhall.

A joint industry project led by the company has led to the development of the ODIN diverless alternative for use on floating assets.