US upstream news

Borets, a leader in the engineering, manufacturing, sales and service of electric submersible pump (ESP) systems, has successfully installed its 250th permanent magnet motor (PMM) ESP system in the US.

The two companies completed a multi-phased study addressing the challenges associated with produced water in the Permian Basin.

A slump that began in late 2018 has carried over into the new year and the US$1.6 billion in 1Q19 deals is down 91% from 4Q18, and down 93% compared to 1Q18.

The transaction increases Pin Oak Energy’s acreage position across the Appalachian Basin to 167 000 net deep acres.

The company has been informed of a successful drilling result and oil discovery at the Burnett 2B well in California, following on from the successful Burnett 2A well result announced on 11 March 2019.

EIA’s Annual Energy Outlook 2019 (AEO2019) Reference case projects that U.S. tight oil production will continue to increase through 2030, ultimately reaching more than 10 million bpd in the early 2030s.

Susan Steyn will be based in the firm’s Houston office and will be central to delivering the division’s ambitious global expansion strategy.

The acquisition was announced in early February 2019 and was completed effective March 26, 2019.

In addition, Newpark will showcase the Kronos™ deepwater drilling fluid system for safer, cleaner and faster offshore operations.

Integrity Management Solutions has commenced drilling operations at the Burnett 2B well within the Monroe Swell field, onshore California.