Texas upstream news

The alliance will apply Optime’s Remotely Operated Controls System to Halliburton’s completion landing string services.

The partnership will provide E&P companies with solutions that optimise rod lift and plunger lift wells.

Storm Uri is expected to have an aggregate adverse impact of up to US$200 million on the company's adjusted earnings in 1Q21.

Under the theme of Innovative Energy Solutions, delegates to the event can expect a packed four-day programme with over 500 expert speakers sharing their insights into current industry trends, as well as creative solutions and best practices to address industry challenges.

The combination brings together two companies with decades of experience in well construction, well flow management, subsea well access, well intervention and production services.

Based in Houston, Texas, US, Neil McBride will be responsible for expanding FourPhase's global client base from the company's offices on Westheimer Road.

The company will be owned 50-50 by Baker Hughes and Akastor and will be managed from current offices in Houston, Texas, US, and Kristiansand, Norway.

The SABER Tool uses internally directed pressure differentials to steer from the drill bit face, delivering true 'at-bit' geosteering.

While precise crude oil production figures are not available, 20% of lower 48 US natural gas production has been shut-in in the first half of February. An equivalent 20% cut in lower 48 US crude oil production would imply a production drop of around 2 – 2.2 million bpd of output, but this could prove to be even higher – perhaps as high as 4 million bpd.

Oil prices have jumped as the extreme cold weather the US is experiencing is impacting oil production, but refinery outages are limiting the price ascent.