US upstream news

Schlumberger, which has been selling assets in North America, said it is benefitting from an inflection in global drilling activity which has picked up as oil prices climbed to US$65.45.

Baker Hughes and Halliburton have said North American oil markets are showing signs of recovery as the two companies beat Wall Street expectations for 1Q21 earnings.

The company has appointed commercial director Andrew Law as CEO, succeeding Enteq founder Martin Perry.

Once online at BP's US$9 billion Mad Dog 2 project, Argos, a semi-submersible, floating production platform, will be the company’s fifth operated platform in the Gulf of Mexico.

A series of tests were successfully performed on a Weatherford test rig in Houston, US, to demonstrate and verify the integration and functionality of the managed pressure drilling and automated well control technology.

The sale consists of approximately 78 700 net acres located in the Little Knife and Murphy Creek acreage interests in the Bakken in North Dakota, US.

Enverus' summary of 1Q21 US upstream M&A activity shows US$3.4 billion in deal value was transacted during the quarter – an 88% decline from 4Q20.

The majority of operators have stated that they are planning to operate within free cash flow to fund their future capital expenditures, which means that the next few years of oil and gas production growth in the US will hinge on the discipline of operators with their capital budgets, says GlobalData.

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.