Upstream drilling news

The development project is targeting 30 million boe of gas condensate reserves from two subsea production wells in the UK Central North Sea.

Commencement of the contract, to support Wintershall DEA's West Mira drilling campaign in the Norwegian Sea, will take place in August/September 2019.

The Rehman field is located on the border of the Sindh and Baluchistan provinces, in the southern part of Pakistan.

The contract relates to the company's recently acquired jack-up rig, Shelf Drilling Achiever.

Construction of the company’s second well in the D41 offshore field in the Baltic Sea was completed earlier this month.

Data shows that marketed utilisation for some rig types in some regions are nearing 85-90%.

The company recorded revenue of US$147.2 million and Adjusted EBITDA of US$49.4 million in 1Q19.

The new discovery, in Block 15/06, is estimated to contain up to 250 million bbls of light oil in place.

Union Jack Oil’s revenue increased by 250% in 2018, standing currently with a cash balance in excess of £2.5 million.

Baker Hughes, a GE company, has announced the introduction of its DELTA-TEQ™ low-pressure-impact drilling fluid.