Ten other drilling rigs have been evacuated, the agency said.
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Drilling rigs were not operating 37 percent of the time.
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The count of drilling rigs operating in the Permian Basin flattened.
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Half of the drilling rigs in the Gulf remain evacuated, BSEE said.
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In Wyoming, the number of drilling rigs doubled from 2016 to 2018.
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There were only 28 drilling rigs in the state as of Wednesday.
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I think people come back and start putting on more drilling rigs.
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It won contracts from Qatar Petroleum to provide six offshore drilling rigs.
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By contrast, the company ran 14 Bakken drilling rigs as recently as 2014.
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Drilling rigs that are customized to recover ice cores are fantastically complicated contraptions.
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Ring Energy also disclosed plans to cut one of its two drilling rigs.
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Giant borehole-drilling rigs and water tankers fight through the city's notorious traffic.
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N that showed U.S. drilling rigs rose by two in the week to Nov.
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"We had six drilling rigs in Iran that we never got back," he said.
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The number of drilling rigs in America dropped by 22016% from peak to trough.
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Oil companies have evacuated staff from 66 platforms and five drilling rigs, it said.
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By 2009, the boom was over, and oil companies shipped out their drilling rigs.
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You guys make the big drilling rigs that are the beginning of the cycle.
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Lower oil prices have also dented industrial production by dampening demand for offshore drilling rigs.
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During the year the number of drilling rigs used in America fell by over 60%.
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Rosneft said the number of drilling rigs will increase by 19 percent following the deal.
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Four of the 10 drilling rigs in the Gulf have also been evacuated, BSEE said.
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Drilling rigs in the biggest shale field in Texas are running low on diesel supplies.
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Energy companies in the United States added two oil drilling rigs in the week to Dec.
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The United States has 450 active drilling rigs, according to oil services company Baker Hughes Inc.
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Ecopetrol said production at wells had not been affected, though 453 drilling rigs had been halted.
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No drilling rigs were evacuated, but one moveable rig was taken out of the storm's path.
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Hess plans to triple the number of drilling rigs it operates in North Dakota this year.
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Others in the fishing industry, though, are more resigned to sharing the waters with drilling rigs.
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A good place, then, to see wind turbines turning high above pump jacks and drilling rigs.
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Parsley said it would cut its drilling rigs to 12 from 15 as soon as possible.
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Workers flocked to the city to run the drilling rigs and lay pipelines in the area.
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In the past, Pioneer would add five drilling rigs to capitalize on higher prices, Sheffield said.
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Transocean (RIG) struck a deal to sell 15 drilling rigs to Norway's Borr Drilling for $1.35 billion.
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Unlike drilling rigs, which usually move locations, production platforms stay in the same location during a project.
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He added that Pioneer would likely add another five drilling rigs if prices top $50 per barrel.
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After the sale, Halcón will produce about 7,500 bpd and run two drilling rigs in the Permian.
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The Arctic does not have any drilling that is in federal waters with traditional, mobile drilling rigs.
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It's an excuse that strains credulity; ballistic-missile launchers do not look very much like drilling rigs.
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Several drilling rigs were destroyed and underwater pipelines were damaged, but it appears that leaks were limited.
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The majors have 75 drilling rigs here this month, up from 2493 in 28, according to Drillinginfo.
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Only 41 drilling rigs are operating in the state as of Wednesday, the lowest level since July 2009.
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In North Dakota's Bakken Shale, Hess plans to cut the number of drilling rigs it operates to two.
|
|
Five drilling rigs were moved out of the storm's path, the Bureau of Safety and Environmental Enforcement said.
|
|
U.S. drilling rigs increased on Friday, increasing sentiment that shale drilling would offset potential cuts from other producers.
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DECLINE IN ACTIVE US DRILLING RIGS HAS NOT BOTTOMED, HEADING TO 800 ON LAND, SAYS CONTINENTAL RESOURCES' HAMM
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From the highway, I could see a forest of idle drilling rigs, and countless rigs lying horizontal, impotent.
|
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U.S. energy companies cut oil drilling rigs for a third week in a row, adding to improving fundamentals.
|
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Among commodities, oil rose, although an increase in the number of U.S. drilling rigs dragged on the price.
|
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On average, there was one incident for every 13.5 offshore platforms or drilling rigs, according to agency data.
|
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Fuel supplies necessary to keep the drilling rigs going may also fall short because of the refinery shutdowns.
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But a drop in the number of U.S. drilling rigs, an indicator of future output, offered some support.
|
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Harvey looks set to cut across offshore drilling rigs, but it's the refineries that are more at risk.
|
|
According to a 2016 report by the Asia Maritime Transparency Initiative, China has at least 12 operational drilling rigs.
|
|
In the Orinoco Belt, some drilling rigs are working only intermittently for lack of crews, said two sources there.
|
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Rowan formed ARO Drilling with the state oil giant in 2016 to operate offshore drilling rigs in Saudi Arabia.
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The same people who assemble and transport oil-drilling rigs can transport and erect wind turbines, mirrors and panels.
|
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Before too long, we also began to pass drilling rigs, which towered 50 feet over the road, spewing mud.
|
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The number of drilling rigs operating in the state has doubled since 2016 — and more are on the way.
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Out of its 35 drilling rigs, 16 were in operation while 19 were lying idle in the third-quarter.
|
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Transocean – The oilfield services company struck a deal to sell 15 drilling rigs to Norway's Borr Drilling for $1.35 billion.
|
|
Cuts to U.S. drilling rigs, and an explosion overnight at an oil rig in Louisiana's Lake Pontchartrain, also boosted prices.
|
|
Interest in new deep-water projects is heating up with more favorable costs for drilling rigs, services and production equipment.
|
|
Under the JDA, Continental is currently running five drilling rigs in the Northwest Cana area of the Anadarko Woodford Shale.
|
|
Global oil prices also faced downward pressure from the news that a worker strike at Norwegian drilling rigs has ended.
|
|
By early 2014, Petrobras's $221 billion investment plan included building more than 100 production platforms, drilling rigs and oil tankers.
|
|
Rival Helmerich & Payne earlier this week also said it expects a modest increase in active drilling rigs in the current-quarter.
|
|
He added that Aramco now has 16 drilling rigs focusing on unconventional gas, with more than 70 wells completed this year.
|
|
ET its weekly number of drilling rigs actively exploring for or developing oil or natural gas in the U.S. and Canada.
|
|
The company boosted its 2017 capital budget by 2 percent to $2.75 billion to add two drilling rigs in the Permian.
|
|
Cuts to U.S. drilling rigs, and an explosion overnight at an oil rig in Louisiana's Lake Pontchartrain, also supported the market.
|
|
Jerry Brown (D) signed legislation in September to block new drilling rigs or infrastructure in state waters, and New Jersey Gov.
|
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Eleven dynamic positioning drilling rigs have been moved out of the path of the storm, said BSEE, which regulates offshore production.
|
|
Scattered incongruously on distant bluffs were several pumpjack oil drilling rigs, most of them inactive, poised over the earth like herons.
|
|
A total of 143 drilling rigs were deployed in 2018 to produce gas at Chuannan, more than triple year-earlier levels.
|
|
Most drilling rigs an pressure pumping systems use diesel-electric motors and rely on diesel generators for all their auxiliary power needs.
|
|
But now those low prices are forcing US drillers to cut back, laying off thousands of workers and idling their drilling rigs.
|
|
The deal includes workers in the oil industry, but employees working on many offshore drilling rigs will hold their own talks later.
|
|
PIONEER EXPECTS PRODUCTION TO INCREASE 15 PERCENT IN 2019 COMPARED TO PREVIOUS YEAR, OPERATING AN AVERAGE 21 TO 23 DRILLING RIGS -CEO
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BP said it began securing offshore facilities and evacuating non-essential personnel from our platforms and drilling rigs in the U.S. Gulf.
|
|
By the end of next year, nine drilling rigs will join the 11 that Chevron already has poking holes into Permian land.
|
|
The reactivation of U.S. oil drilling rigs in response to higher prices suggests more shale production is on the way next year.
|
|
Those employees work on exploration and production drilling rigs owned by Saipem, Transocean, Songa Offshore, Odfjell Drilling , Archer and COSL, among others.
|
|
It warned about a series of "potentially catastrophic crane and lifting incidents" that occurred late last year on platforms and drilling rigs.
|
|
When oil prices fell in 2014, oil companies cancelled or postponed exploration plans to save cash which reduced demand for offshore drilling rigs.
|
|
In April of this year, 22 percent of all the drilling rigs in the world could be found punching holes in the Permian.
|
|
Weatherford also said it made substantial progress in the divestiture of its land drilling rigs, and expects an agreement on the transaction shortly.
|
|
The long, deep price slump has left drilling rigs sitting idle as producers choose not to extract oil and gas at a loss.
|
|
Peter Berg's film rightly shines a light on the brave men and women who work on and service the nation's offshore drilling rigs.
|
|
In 2016, ConocoPhillips Alaska has a capital budget of nearly $1 billion and has accepted delivery of two new drilling rigs this year.
|
|
Sooner or later, fossil fuel commodity prices will rise and the bulldozers and drilling rigs will pour into sage grouse habitats once again.
|
|
Centennial, led by shale pioneer Mark Papa, withdrew its 22019 production target and canceled plans to add 1083 drilling rigs, citing market weakness.
|
|
Oklahoma ranks third in the country for producing natural gas, second in drilling rigs, and fifth in both crude oil production and reserves.
|
|
Still others (including those at the McDonald Observatory) are concerned about light pollution from flaring of natural gas or lights on drilling rigs.
|
|
Chevron ran 20 drilling rigs in its Permian operations during the quarter, and will continue running the same number this quarter, Yarrington said.
|
|
U.S. oil producers evacuated 15 oil and gas production platforms and four offshore drilling rigs, the Bureau of Safety and Environmental Enforcement said.
|
|
It wasn't uncommon to see farmers shifting growing patterns or fallowing acres; new drilling rigs or freshly tilled acreage didn't excite much chatter.
|
|
They said that in fields east of Junin, only a handful of the dozens of drilling rigs are working at any one time.
|
|
HOUSTON, April 24 (Reuters) - * Weatherford International on Tuesday said a divestiture of its land drilling rigs was 'taking longer than expected' * The company said the delay was due to increased interest in a geographic subset of the business, which has made the divestiture process more complex * Weatherford said it has also initiated two divestitures in addition to the land drilling rigs.
|
|
U.S. shale companies have already added more than 100 drilling rigs since the end of May but the sector remains under intense financial pressure.
|
|
Exxon has the most drilling rigs operating in the Permian Basin of West Texas and New Mexico, the second-largest U.S. gas producing region.
|
|
That higher shale output will persist is borne out by a surge in the number of drilling rigs, which shows no signs of ebbing.
|
|
Drilling rigs and hydraulic fracturing pumps mostly employ high-horsepower diesel-electric engines that run 24 hours per day consuming enormous quantities of diesel.
|
|
Currently, there are no drilling rigs off the east coast of the U.S., and it will take years of testing to locate the oil.
|
|
Companies have never produced oil and natural gas from mobile drilling rigs in the United States' portion of the Arctic Ocean, north of Alaska.
|
|
U.S. shale producers have started adding more drilling rigs in response to rising oil prices and improving confidence about the outlook for 2018. tmsnrt.
|
|
Chevron said it benefited from running 20 drilling rigs in the Permian basin during the quarter and new well designs that have boosted output.
|
|
N said it was forming a joint venture with Saudi Arabian state oil giant Saudi Aramco to operate offshore drilling rigs in the country.
|
|
Pioneer also said that it planned to add five drilling rigs to Texas starting in September, bringing its total count in the state to 17.
|
|
The employees joining the action work on exploration and production drilling rigs owned by Saipem, Transocean, Songa Offshore, Odfjell Drilling, Archer and COSL, among others.
|
|
Given the already 70 percent decline in the number of active drilling rigs, a 1 mb/d drop in U.S. output is realistic this year.
|
|
The number of drilling rigs in the Austin Chalk has doubled in the past six months to 23, according to data from energy researcher DrillingInfo.
|
|
Between February 250 and January 513, the progressive increase in forward prices encouraged shale producers to boost output by hiring extra drilling rigs (tmsnrt.rs/251jsXK255g).
|
|
The downturn also forced service companies to slash prices on everything from the trailers that house oil workers to lease rates for the drilling rigs.
|
|
Between February 250 and January 250, the progressive increase in forward prices encouraged shale producers to boost output by hiring extra drilling rigs (tmsnrt.rs/251jsXK255g).
|
|
Still, deep cost cuts introduced in recent years and lower rates for drilling rigs and services mean that companies can do more with their money.
|
|
Rowan said it will contribute three jack-up drilling rigs to the joint venture and Saudi Aramco will contribute two at the start of operations.
|
|
Mohammed al-Qahtani, senior vice-president for upstream operations, said Aramco expected to operate between 211 and 214 oil and gas drilling rigs this year.
|
|
He said, however, that Chevron's production could exceed 219,222 barrels daily if the company decided to increase drilling rigs from the 202021 currently in operation.
|
|
But in early March, the number of drilling rigs used in the Gulf was just 14, compared with 145 at the industry's peak in 2000.
|
|
The uniformity of the world he was growing up in was striking, like the endless plains of drilling rigs in an East Texas oil field.
|
|
A Texas oil regulator recently told Bloomberg that tens of thousands of people in the state were being laid off as drilling rigs close down.
|
|
A Texas oil regulator recently told Bloomberg that tens of thousands of people in the state were being laid off as drilling rigs close down.
|
|
U.S. energy companies cut nine oil drilling rigs this week, the biggest reduction since May 2016, General Electric Co's Baker Hughes energy services firm said.
|
|
A Norwegian union for workers on offshore oil and gas drilling rigs stepped up a six-day strike on Monday that has hit oil output.
|
|
Price gains were slightly pared after data showed U.S. energy companies this week added 2000 oil drilling rigs, the biggest weekly increase since July 2150.
|
|
It said drilling rigs and vessels had been moved to unaffected areas, and gas production at a third platform remained operating to help meet energy needs.
|
|
The company will lease equipment such as MRI scanners, tractors and drilling rigs to companies that can't import such equipment themselves due to foreign exchange shortages.
|
|
Almost no exploration took place during the commodity price crash that ended early last year, but Connemara said that drilling rigs are now working the site.
|
|
Since the downturn started, agile independents have slashed spending 50-70 percent, steered drilling rigs to sweet spots and fracked wells more intensely to lift output.
|
|
Lower costs of drilling rigs, simpler wells designs and cheaper seismic imaging mean well counts may nevertheless hold up close to 2016 numbers while returns improve.
|
|
While the number of oil drilling rigs in the United States has slid in recent months, each rig's efficiency has jumped sharply in the past year.
|
|
"Reserve growth really comes down to better well design," said Michael Dynan, vice president for portfolio and strategic development at Schramm, a manufacturer of drilling rigs.
|
|
The number of drilling rigs started to fall after domestic crude prices dropped to $42 a barrel in December from a peak of $76 in October.
|
|
Demand for hydraulic fracturing services is exceeding supply, the company said, as the number of drilling rigs in operation has almost doubled in the past year.
|
|
U.S. shale producers have cut the number of active drilling rigs, but he said reductions "haven't bottomed yet," noting that "we're heading for 800" onshore rigs.
|
|
The same flawed blowout preventer that failed the Deepwater Horizon now sits at the bottom of the ocean below many offshore drilling rigs in the Gulf.
|
|
OSLO/LONDON (Reuters) - Borr Drilling, founded by former executives of financially troubled Seadrill, has snapped up Transocean's fleet of shallow-water drilling rigs for $2219 billion.
|
|
Globally, the number of oil and gas drilling rigs also fell by 130, to 1,761, according to Baker Hughes, the lowest number of rigs since 2002.
|
|
Since the downturn started, agile independents have slashed spending 218-70 percent, steered drilling rigs to sweet spots and fracked wells more intensely to lift output.
|
|
Those who treasure the splendor of industrial sprawl must visit this morass of pipe lines, buildings drilling rigs, gravel pits, roads and pools of toxic chemicals.
|
|
The Interior Department sent out dozens of inspectors this month to search for hazards related to cranes used with oil and gas platforms and drilling rigs.
|
|
Seismic lines, roads, clearcuts, and drilling rigs have decimated the range, encouraging moose and deer to pop by for grazing in what is normally caribou territory.
|
|
New Orleans and Lake Pontchartrain were also under a hurricane warning, and several offshore oil and gas platforms and drilling rigs in the gulf were evacuated.
|
|
Adding to bearish sentiment was data by oil services company Baker Hughes Inc that showed U.S. drilling rigs rose by two in the week to Nov.
|
|
Southwestern had no drilling rigs in operation at the start of 2016 and is yet to finalize its capital budget and operating plan for the year.
|
|
Only 522 oil drilling rigs are now active in the United States, compared with 1,609 in October 2014, and the number fell by seven last week.
|
|
Exploration and production firms are still adding drilling rigs at an average of almost 10 per week, according to oilfield services company Baker Hughes (tmsnrt.rs/2p4EThd).
|
|
Oil prices rose after a drop in crude exports from OPEC's de facto leader, Saudi Arabia, and a draw in U.S. drilling rigs and oil inventories.
|
|
On Tuesday, Continental Resources said despite continuing reductions this year in the number of active U.S. drilling rigs, he felt the figure was 100 more than needed.
|
|
Shell has evacuated all nonessential staff from eastern Gulf drilling rigs, with more action on the horizon depending on how the storm develops, spokeswoman Cindy Babski said.
|
|
EIA has shifted from basin-level to well-level forecasts, and improved its understanding of the time lags between price changes and when operators add drilling rigs.
|
|
Drilling rigs and the massive pumps employed for hydraulic fracturing all use high-horsepower engines which run 22014 hours per day and consume prodigious quantities of fuel.
|
|
Its number of active drilling rigs declined to 4 in October compared with 10 in the same month of 2013, according to Baker Hughes' rig count data.
|
|
The potential for increased U.S. production continues to build, as Baker Hughes weekly rig count data showed an increase of 22017 drilling rigs in the United States.
|
|
The biggest impact so far has been felt on investment in new wells, as U.S. producers big and small have slashed capital spending and sidelined drilling rigs.
|
|
RIG-OL-USA-BHI But analysts said the reduction in drilling rigs in the United States could prove temporary as activity had been restrained by hurricane threats.
|
|
The potential for increased U.S. production continues to build, as Baker Hughes weekly rig count data showed an increase of 14 drilling rigs in the United States.
|
|
Separately, the ministry has approved Statoil's request to reduce the number of drilling rigs working on wells at the Troll field to three from four in 2017.
|
|
But analysts said the reduction in drilling rigs in the United States could prove temporary as activity had been restrained by hurricane threats and as efficiencies improve.
|
|
The industry is also watching a pipeline safety bill and bracing itself for new federal rules on methane emissions at hydraulic fracturing sites and offshore drilling rigs.
|
|
The employees who will join the action work on exploration and production drilling rigs owned by Saipem, Transocean, Songa Offshore, Odfjell Drilling, Archer and COSL, among others.
|
|
OSLO (Reuters) - Workers on Norwegian offshore oil drilling rigs signed a new wage deal on Wednesday, avoiding a strike, labor unions and employers said in separate statements.
|
|
The port operates around the clock, 365 days a year, with hundreds of service boats and helicopters ferrying crews to and from offshore platforms and drilling rigs.
|
|
The slump in oil prices in 2014 and a global oversupply of drilling rigs had hit orders at the company's O&M division, but demand is slowly returning.
|
|
The employees that could walk out on Sunday work on exploration and production drilling rigs owned by Saipem, Transocean, Songa Offshore, Odfjell Drilling, Archer and COSL, among others.
|
|
Or rig machinery that works flawlessly in tandem with a network of other automated drilling rigs until the sea levels rise high enough to flood all their sensors.
|
|
Battling for survival, the company idled 20173 percent of its drilling rigs and its executives did not want to go through such "draconian cuts" ever again, he said.
|
|
U.S. shale production appears to be falling swiftly based on state production data and the wholesale idling of drilling rigs, which should gradually help tighten the oil market.
|
|
Market volatility has encouraged the exploration and production company to cut costs and reduce its rigs drastically, having gone from 93 to four drilling rigs, as of recent.
|
|
There are no drilling rigs off the East Coast of the U.S. right now, and it will take years of testing to even know where there is oil.
|
|
Activity continues to rise in the U.S., as oil services company Baker Hughes said U.S. drilling rigs rose by 19 to 471 in the week to Nov. 18.
|
|
The number of U.S. oil drilling rigs in operation rose by 6 to 747 in the week to June 16, oilfield services firm Baker Hughes reported on Friday.
|
|
Labor disputes on drilling rigs typically halt oil and gas exploration and drilling of new production wells at existing fields, but do not affect current production at wells.
|
|
" Mr. Eberhart added that his business will also likely be hurt by the steel and aluminum tariffs, which "will raise the prices for materials for drilling rigs, pipes.
|
|
In the United States, energy services company Baker Hughes reported that U.S. oil drillers reduced the number of drilling rigs for a record 12th month in a row.
|
|
The market focus shifted towards possible supply increases, even as a Norwegian union for workers on offshore oil and gas drilling rigs stepped up a six-day strike.
|
|
Under questioning, Costa described how he, Cerveró and other Petrobras directors had been deliberately overpaying on contracts with various companies for office construction, drilling rigs, refineries and exploration vessels.
|
|
So as the number of active drilling rigs and crews rose five-fold from around 22015 in 22016 to more than 1500 in 2014, diesel consumption surged as well.
|
|
It is putting its faith in driverless trucks and unmanned drilling rigs and trains, overseeing them from the office equivalent of armchairs about 22.2,22007km (22011 miles) south, in Perth.
|
|
Indeed, if Russian citizens were located on the offshore drilling rigs, it is almost inconceivable that Hezbollah - or even Iran - would attack these installations and risk Russian civilian casualties.
|
|
Separately, Pioneer said it would add five drilling rigs in Texas starting in September, bringing its total rig count to 17 as oil prices recover to $50 a barrel.
|
|
Raising production also becomes harder with each month drilling rigs and other machinery sit idle because they often get "cannibalized" for spare parts for what is still in use.
|
|
Heavy equipment like trucks and drilling rigs that would have been scattered across the countryside hard at work a couple years ago now sit idle in padlocked equipment yards.
|
|
The contractors "will have the support and operational expertise of Halliburton and Baker Hughes for specific project activities; 18 drilling rigs will be available," PDVSA added in its statement.
|
|
Oil and gas drilling also supports distillate consumption directly because diesel-electric generators provide power for drilling rigs as well as auxiliary supplies for heating, lighting and other operations.
|
|
"We could easily see an extra 100 rigs out here in the Permian by June," said Josh Clawson of Gesco, a Midland, Texas, electrical contractor for oil drilling rigs.
|
|
Expanding rapidly in the years leading up to a 2014 collapse in oil prices, Seadrill was left with dozens of idled drilling rigs and billions of dollars in debt.
|
|
"They won't die, but only go into hibernation," he said of the American companies, which will lay off workers and mothball drilling rigs until prices recover to profitable levels.
|
|
The company, which is looking to sell non-core assets to pay down debt, plans to operate 20 drilling rigs in 2017, an increase of one rig from 2016.
|
|
Keppel has previously booked provisions of about $311 million ($225 million) related to the contracts to build six drilling rigs for Sete and had halted construction in late 2015.
|
|
In the United States, energy services company Baker Hughes reported that the country's oil drillers reduced the number of drilling rigs for a record 12th month in a row.
|
|
In the United States, energy services company Baker Hughes reported that the country's oil drillers reduced the number of drilling rigs for a record 12th month in a row.
|
|
"People have left the industry, and they are not coming back," said Michael Dynan, vice president for portfolio and strategic development at Schramm, a Pennsylvania manufacturer of drilling rigs.
|
|
For instance, he blamed Obama for the fact that the number of active drilling rigs in the United States has fallen to its lowest level in nearly a decade.
|
|
As part of the deal, Saudi Aramco's parent firm will buy 20 jack-up drilling rigs as well as offshore support vessels and services from the joint venture, Lamprell said.
|
|
Earnings for suppliers of land drilling rigs, tubing and hydraulic fracturing services in North America, where expanding shale production is driving revenue, are expected to improve over a year earlier.
|
|
U.S. oil and gas producers in the east of the Gulf of Mexico removed workers from 10 offshore platforms, moved drilling rigs and shut some output because of the storm.
|
|
Oil and gas companies were a big driver: They nearly doubled their investment in new drilling rigs and other structures, adding as much as half a percentage point to growth.
|
|
State-run South Oil Co. (SOC) said the violence had started scaring oil workers and foreign contractors who in some cases had refused to move drilling rigs over security concerns.
|
|
The oil and gas producer said it would also add two new drilling rigs to its North Dakota operations and look to lower operating costs at its biggest production area.
|
|
Hess is boosting spending this year, planning to have six drilling rigs in North Dakota's Bakken shale by the end of the year, helping to boost output well into 5093.
|
|
In addition to shutting in wells, oil producers also halted most offshore drilling operations by evacuating three drilling rigs and moving eight others out of the storm area, BSEE said.
|
|
In the summer of 153, as Hurricane Katrina toppled drilling rigs and uprooted pipelines in the Gulf of Mexico, the price of natural gas rose by more than 40 percent.
|
|
Parsley on Monday was among the first oil companies to disclose a big reduction in spending plans, saying it will halt a fifth of its 15 drilling rigs by April.
|
|
Spending on agricultural machinery in 2016 fell 38 percent from 2014 levels; for petroleum and natural gas structures — think oil drilling rigs — the number was down a whopping 60 percent.
|
|
He has turned the living quarters of a scrapped BP offshore platform into a makeshift motel and office for workers of drilling rigs that come into the yard for maintenance.
|
|
A group of Norwegian drilling rigs workers agreed on Thursday to end a strike that began on July 10, removing a threat to oil and gas production in the region.
|
|
With gas prices slashed nearly in half from a year ago, the number of drilling rigs operating in Pennsylvania has dropped to 24, from 212, over the last 22020 months.
|
|
However, higher oil prices have caused an immediate surge in mining investment, as more drilling rigs have been deployed, and those firms associated with oil production have seen revenue boom.
|
|
They talked about how many drilling rigs were operating (46 across the state, compared with 190 two years ago), their falling overtime pay and friends who had gone elsewhere for work.
|
|
Prices have partly recovered since hitting a low in January 2016, and demand for drilling rigs, especially in the North Sea, has increased, giving more hope for such firms as Seadrill.
|
|
For the first time in months, industry officials are hopeful that prices could stick above $50 per barrel, a level that would allow more U.S. drilling rigs to come on line.
|
|
Although U.S. oil production this year rose to a record 12.4 million barrels a day, shale producers are idling drilling rigs and sidelining hydraulic fracturing equipment amid worries about future demand.
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Crude extended gains from last week, when a drop in crude exports from OPEC's de facto leader, Saudi Arabia, and a draw in U.S. drilling rigs and oil inventories supported prices.
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Exxon, which more than doubled its Permian holdings earlier this year, plans to boost the number of drilling rigs there by 50 percent, to 30, by the end of next year.
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"Another strong increase in drilling rigs operating in the U.S. took the gloss off the better-than-expected adherence by OPEC to the agreed production cuts," ANZ said in a report.
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Some firms are poised to benefit from decreased competition, lower costs of marine seismic studies and drilling rigs, and cheaper opportunities to acquire exploration licenses from governments eager to attract investment.
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Though low prices have crippled investment in exploration and cut drilling rigs, overall employment in Oklahoma continues to rise in a state that has built large logistics and defense contracting industries.
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Oil well productivity in Texas's Permian basin - the country's largest oil field - is falling, and the number of drilling rigs operating in the United States has declined for six straight weeks.
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There were only two exploratory rigs active in April, down about 28500 percent from last year, and only four development drilling rigs operating, down 6900 rigs (2628 percent) from last year.
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The Navy and Air Force use the eastern Gulf to test laser weapons, long-range strike weapons, new vessels and mine warfare, among other activities, and drilling rigs could hamper operations.
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The company, which owns 35 drilling rigs, added $89 million in new orders during the fourth-quarter, but its order backlog remained broadly unchanged from the third quarter at $2 billion.
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Some firms are poised to benefit from decreased competition, lower costs of marine seismic studies and drilling rigs, and cheaper opportunities to acquire exploration licences from governments eager to attract investment.
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Norway, western Europe's top oil and gas producer, has between 8,000 and 10,000 people working at offshore production platforms, drilling rigs and supply vessels at any given time, industry data shows.
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Norway, western Europe's top oil and gas producer, has between 8,000 and 10,000 people working at offshore production platforms, drilling rigs and supply vessels at any given time, industry data shows.
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The rates, however, are expected to improve going forward in 2019, and already some rates for deepwater drilling rigs rose to near $200,000 from $100,000-150,000 a day six months ago.
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Other data from last week showed the United States added 44 oil drilling rigs in July, the most for a month in two years, intensifying concerns of a growing global glut.
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OSLO, May 15 (Reuters) - Norway's Borr Drilling plans to buy five new jack-up oil drilling rigs from an Asian shipyard for a total of $720 million, the company said on Tuesday.
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Oil prices have partly recovered since hitting a low in January 2016, and while demand for drilling rigs is expected to increase, there is too much supply to move rates up significantly.
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The number of oil drilling rigs fell by four to 747 this week, data from General Electric's Baker Hughes energy services unit showed, the first cut to drilling numbers in six weeks.
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The closely-watched U.S. rig count–which comprises U.S. onshore and U.S. offshore Gulf of Mexico drilling rigs - hit 971 in April, up 107 percent from last year, according to Platts RigData.
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U.S. energy companies this week increased the number of oil drilling rigs for first time in seven weeks, General Electric Co's Baker Hughes energy services firm said in its report on Friday.
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For every dollar that a company earns drilling rigs in and shuttling pipes around the Permian Basin, the state and federal governments effectively add on another buck-fifty, for free, in subsidies.
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Meanwhile, energy companies, researchers and government officials are also proceeding with floating technologies adapted from deepwater oil and gas drilling rigs, which use tethers and anchors to moor platforms to the seabed.
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Oil sold off sharply Friday, as U.S. producers again added drilling rigs, but it's those very drillers that could be the reason oil prices may find a bottom around $40, analysts say.
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As the coronavirus led to travel restrictions, the company would reduce the number of active drilling rigs to two from six in Kurdistan, while scrapping its production guidance for 09413, it added.
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The number of U.S. oil drilling rigs, an indicator of future production, were unchanged in the week at 869 rigs, according to a weekly report from energy company Baker Hughes on Friday.
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N this month released two of its 10 hydraulic fracturing crews and next year plans to operate between 18 and 22 drilling rigs, down from 24 rigs at work earlier this month.
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In November 2012, without asking its Russian partners, PDVSA shut down one of the four drilling rigs at Junin-6 and removed it, a report by the Russian consortium found that year.
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"The Super B 400 Bigfoot Class jackup drilling rigs are now scheduled to be delivered in two and three month intervals beginning in the first quarter of 2020," it said in a statement.
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OSLO, March 20 (Reuters) - Oslo-listed rig operator Borr Drilling has agreed to buy 15 drilling rigs from Swiss-based Transocean in a $1.35 billion deal, Borr said in a statement on Monday.
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U.S. energy companies this week cut the number of oil drilling rigs for the first time in three weeks as production growth forecasts from shale, the country's largest oil fields, continue to shrink.
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OSLO (Reuters) - Norwegian drilling rigs workers will end their industrial action after the union representing 1,600 striking employees reached a deal with the group acting for their employers, the parties said on Thursday.
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Others said the global crude market remained oversupplied by around 2 million barrels per day, while higher prices raised the prospect of U.S. shale oil producers adding more drilling rigs after recent cutbacks.
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The market is now seen shifting its view toward possible supply increases, despite a Norwegian union for workers on offshore oil and gas drilling rigs widening a six-day drilling strike on Monday.
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Reductions of around 15 percent in global oil service costs, including payments for drilling rigs or personnel, have helped boost some project economics, especially in the U.S. tight oil market, the report said.
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As a veteran of the oil industry, the first woman to supervise offshore drilling rigs in the Gulf of Mexico, and a South Carolinian, I cannot help but be baffled by this decision.
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This week's U.S. rig count, an indicator of future output, showed energy firms adding crude drilling rigs for the first time in three weeks, General Electric Co's Baker Hughes energy services firm said.
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Compared to, say, the complexity and challenge of pulling crude from deepwater drilling rigs in the North Sea or hydraulic fracking in North Dakota, this is basically like scooping oil from a sandbox.
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In addition to a fleet of four drilling rigs and two drillships, Dolphin is the majority owner of Belfast's Harland & Wolff shipyard, builder in the early 20th century of the Titanic ocean liner.
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Hedge funds and banks have already been burned twice this year, bidding up prices, only to see shale firms sell into the resulting rally, add more drilling rigs and production, and send prices tumbling.
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U.S. oil drillers over the past month have added the most drilling rigs since 2012, bringing the total count to 503 rigs, the highest since October 2015, Baker Hughes said in its weekly report.
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Jesuthasan gives an example in the form of a question: Should oil service companies field completely autonomous drilling rigs, and eliminate the positions currently held by humans, or keep things largely as they are?
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The company, which owns 35 drilling rigs and operates a further 20, had an order backlog of $1.9 billion at the end of the quarter, down from $2.0 billion at the end of March.
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Investment in exploration and concept studies, a key indicator of spending on anything from drilling rigs to seismic data, was forecast to rise to 33.3 billion crowns in 20193 from 25 billion in 2018.
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But lawmakers from both parties, environmental groups, governors and local business leaders said they were opposed to any effort to open coastlines to drilling rigs, citing environmental risks and threats to lucrative tourism industries.
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The Interior Department had previously proposed limited drilling rights sales to the Beaufort and Chukchi seas north of Alaska, where there has never been oil and natural gas production from traditional mobile drilling rigs.
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Hundreds of drilling rigs have been idled in the Permian Basin since the price of crude dropped from its peak in mid-2014, pushing the basin's rig count down to just 130 in April.
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In addition to the hulls for platforms P-70, P-71, P-72 and P-73, Ecovix has contracts to build three drilling rigs for Sete Brasil, which is in court supervised debt restructuring.
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One key data point: "Data released Friday revealed the biggest weekly jump in the number of U.S. oil-drilling rigs since January 2017, contributing to concerns about a surge in U.S. production," MarketWatch notes.
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VIENNA (Reuters) - Qatar Energy Minister Mohammed Al-Sada said on Sunday that even with an increase in drilling rigs, the oil market is likely to reach a balance as producers implement agreed output cuts.
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Keppel's offshore and marine (O&M) division, which builds offshore drilling rigs and support vessels, posted a loss of S$138 million in the fourth quarter, versus a S$60 million year-ago loss.
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Oil well productivity in Texas's Permian basin - the country's largest oil field - is falling, and the number of drilling rigs operating in the United States declined for six straight weeks before rebounding this week.
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In Texas, the epicenter of the shale drilling boom, companies have axed at least $8 billion in the last few days from their 2020 capital budgets, pulling drilling rigs and canceling hydraulic fracturing crews.
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The Scottish company, which specializes in pumps and valves used in drilling rigs, said a 20 percent reduction in U.S. land rig count in the past two months had lowered demand for its products.
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Most recently it advised Rowan Companies in 2016 on the formation of a joint venture with Saudi Arabian state oil giant Saudi Aramco to own, operate and manage offshore drilling rigs in the country.
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Paragon Offshore, which operates offshore drilling rigs from the Gulf of Mexico to the North Sea, filed for Chapter 11 bankruptcy protection Sunday evening, the latest filing in a painful shakeout buffeting the oil industry.
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For farmers, much of their opposition is because of interruptions to their operations from the presence of drilling rigs and associated infrastructure on their land, as well as to fears of pollution of water tables.
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Although the storm's impact on production is expected to be minimal, Shell has evacuated all nonessential staff in the eastern drilling rigs in the Gulf of Mexico out of precaution, spokeswoman Cindy Babski told CNN.
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The number of active drilling rigs in the Permian last week fell by four to 476, and another measure of activity - well completions - fell to 190 last week from 192, according to researcher Primary Vision.
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Shale oil producer Pioneer Natural Resources Co said it is considering adding more Permian drilling rigs later in 2018 and is likely to increase next year's capital budget, which was previously forecast at $2.9 billion.
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He said he thought it likely a proposed Bureau of Land Management rule limiting venting and flaring of methane at drilling rigs will be costly for operators now that the price of oil has declined.
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The number of active drilling rigs has dropped to the lowest since October, but producers in the Permian Basin have banked a record number of drilled wells waiting to be completed and tied to pipelines.
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The number of U.S. oil drilling rigs, an indicator of future production, was unchanged this week at 869 rigs, much higher than the 763 rigs operating a year ago, according to energy company Baker Hughes.
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In addition to a fleet of four drilling rigs and two drillships, Dolphin is also the majority owner of Belfast's Harland & Wolff shipyard, builder in the early 20th century of the RMS Titanic ocean liner.
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Mr Islam says ExxonMobil's go-ahead last month for its Liza project off the coast of Guyana was timed by the US group to benefit from "rock-bottom rates" for drilling rigs and other services.
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Exxon has 48 rigs working in the Permian - about 204 percent of the region's total, according to General Electric's Baker Hughes - and expects to increase the number of drilling rigs to 55 by year-end.
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Pioneer, known for its aggressive hedging program, also said it would add five drilling rigs in Texas starting in September, bringing its total rig count to 17 as oil prices recover to $50 a barrel.
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But even short-cycle production can take 6-12 months or more to reach the market, given the lengthy delays involved in securing extra drilling rigs, fracking wells and connecting them up to the distribution system.
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The quick rise and fall of US-based fracking and oil operations has left many towns temporarily prosperous, others on shaky financial footing, and many landscapes pockmarked with drilling rigs and compressor stations, crisscrossed by pipelines.
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For OPEC ministers meeting in Vienna on Wednesday, a major concern is that an output cut would encourage a quick response from U.S. shale producers, who have slashed costs and have been steadily adding drilling rigs.
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In fact, U.S. producers have been adding drilling rigs more slowly than in 2015 when they added 50 rigs in just two months in response to a sudden jump in prices, according to Baker Hughes data.
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The company plans to run 16 drilling rigs and five fracking crews this year in the Permian Basin, the largest U.S. oilfield, CEO Bryan Sheffield said at the Scotia Howard Weil energy conference in New Orleans.
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For years, she'd done all the things law-abiding climate change activists do: filed petitions, lobbied legislators, hosted speakers, wrote letters, blockaded refineries, and tried to block Shell from moving their drilling rigs into the Arctic.
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Over the past month, U.S. oil drillers have added the most drilling rigs since 2012, bringing the total to 591 rigs, the highest since October 2015, oil services company Baker Hughes said in a weekly report.
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Petroleo Brasileiro SA, as the state-run oil firm is known, formally selected Ocyan and two other companies in a recent tender for six drilling rigs, Ocyan Chief Executive Roberto Simões said in a Friday interview.
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Drilling rigs are equipped with enclosed lifeboats that can be dropped into the ocean in an emergency and owners must meet a series of technical and operational requirements for how to plan and carry out evacuations.
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Since prices dropped in October, U.S. independents have idled 41 oil drilling rigs, bringing the nation's oil rig count to 834, the lowest level in 10 months, according to General Electric Co's Baker Hughes energy services firm.
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U.S. energy companies added nine oil drilling rigs this week, the second increase in three weeks, bringing the total count up to 19703, General Electric Co's Baker Hughes energy services firm said in its closely followed report.
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The independent oil companies that launched the Permian boom are reducing drilling rigs and cutting spending in response to investor demands to rein in expenses while Exxon and other majors are cranking up investments in the oilfield.
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Under the new rules, drillers will have to park backup drilling rigs nearby that are ready to drill a relief well in case of a well blowout, to prevent what happened in the 2010 Deepwater Horizon disaster.
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The group claimed the company overstated the extent of its safety procedures for drilling rigs, causing them to invest in the company and lose money when BP's stock collapsed after the Deepwater Horizon explosion and oil spill.
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The slide in oil and natural gas prices forced exploration and production companies to decommission two-thirds of their drilling rigs, which the service companies operate along with hydraulic fracturing, piping, trucking, water, electrical and environmental operations.
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Oil companies are stepping up efforts to find more oil and gas offshore after cutting exploration budgets following the oil price drop since 2018, meaning more work for owners of drilling rigs, such as Transocean or Seadrill.
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U.S. shale producers seem to be finally cracking under the strain from low prices, with more than 100 oil drilling rigs idled over the past month, and many producers now openly talking about producing less in 2016.
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Drilling rigs are being added more quickly in the Permian than elsewhere, with the EIA's albeit confusing figures for October showing production there growing steadily, in marked contrast to the decline being experienced by other shale plays.
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A glut of cheap natural gas is wreaking havoc on the energy industry, and companies are shutting down drilling rigs, filing for bankruptcy protection and slashing the value of shale fields they had acquired in recent years.
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Oil prices rose on Monday but gains were limited as investors gauged whether an increase in U.S. drilling rigs and record stockpiles might offset the existing push by producers to cut output and bring the market into balance.
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Whiting said it has already received $24.3 million as part of the agreement, and as such will continue to run two drilling rigs and add a fracking crew in North Dakota, the second-largest U.S. oil producing state.
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OSLO, July 19 (Reuters) - Close to 1,600 striking workers on Norwegian drilling rigs will end their industrial action after their union and the lobby group reprensenting their employers reached a deal, the Norwegian Shipowners' Association said on Thursday.
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The bondholders' alternative plan and Seadrill's preferred plan, backed by the company's main owner, Norwegian-born billionaire John Fredriksen, would both invest around $1 billion in Seadrill to continue its business of renting drilling rigs to oil companies.
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As soon as next month, the Republican-led Congress may pass legislation undoing Mr. Obama's regulations on the practice of mountaintop-removal coal mining and on leaks of planet-warming methane emissions from oil and gas drilling rigs.
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DUBAI (Reuters) - Saudi Arabia's Industrialization and Energy Services Company (TAQA) said on Sunday its drilling subsidiary, Arabian Drilling Company, has agreed to buy Schlumberger's Middle East onshore drilling rigs business in Kuwait, Oman, Iraq and Pakistan for $415 million.
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Other data from last week showed the United States added 44 oil drilling rigs in July, the most for a month in two years, intensifying concerns that global production could again get to unmanageable levels like in 2014-2015.
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As prices recover to the $50 to $60 a barrel level, more drilling rigs will be deployed and more wells will be completed in the U.S., he said, after companies scaled back production as oil prices dived under $40.
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OSLO (Reuters) - Some 922 workers on Norwegian offshore oil drilling rigs and floating production platforms could potentially go on strike on June 28 unless a pay deal is agreed, Norway's largest oil workers union Industri Energi said on Wednesday.
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DUBAI, March 21 (Reuters) - Gulf stock markets edged down in early trade on Monday because of softer oil and global equities prices, while Gulf International Services (GISS) led Qatar down after a fire at one of its onshore drilling rigs.
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The number of active drilling rigs in the Permian last week fell by four to 476, and another measure of activity - the number of active hydraulic fracturing fleets - fell to 190 last week from 192, according to researcher Primary Vision.
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Pioneer said in its earnings release last month that it is "expecting to add five to 10 horizontal drilling rigs when the price of oil recovers to approximately $50 per barrel and the outlook for oil supply/demand fundamentals is positive."
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For more on the company, click on The Norwegian owner of drilling rigs for the oil industry has decided not to appeal an order by the country's financial regulator (FSA) to write down asset values, it said late on Monday.
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WASHINGTON, June 28 (Reuters) - The U.S. Supreme Court on Tuesday agreed to weigh Venezuela's bid to block a lawsuit filed by an American oil drilling company that claims the South American country illegally seized 11 drilling rigs six years ago.
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Even as the majors have ramped up operations, the total number of drilling rigs at work in the Permian has dropped to 464, from 493 in November, as independent producers have slowed production, according to oilfield services provider Baker Hughes .
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The markets began the week with a rebound in Asian trade, reacting to Friday's U.S. rig count data, which showed the number of oil drilling rigs in operation falling to a December 2009 low after nine straight weeks of cuts.
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Shell's initiative aims to create cheaper versions for onshore production by incorporating low-cost sensors similar to those in Apple Inc's Watch, eliminating the need for workers to visit thousands of shale drilling rigs to read gauges and manually adjust valves.
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While surveys including the index of factory activity and several regional reports have pointed to manufacturing weakness, so-called hard data on oil drilling rigs, durable goods orders and industrial production have offered tentative signs of stability in the sector.
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The cautiously optimistic outlook for 22017 comes as the number of drilling rigs and other oilfield equipment deployed across the United States continues to rise, with oil executives betting their industry is on the rebound after a two-year price downturn.
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A congressional commission this month said the funds had gone missing during Ramirez's time in charge, from 2004 to 2014, citing 11 cases of alleged corruption including overpricing of drilling rigs and a scandal over money laundering through an Andorra bank.
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Paragon Offshore PLC won a court order on Tuesday approving revisions to its planned reorganization that will allow it to hold on to more cash after lenders pressed for a bigger financial cushion for the bankrupt operator of offshore drilling rigs.
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More than 50 inspectors, traveling on helicopters, conducted surprise inspections on about 40 offshore platforms and drilling rigs, said Jason Mathews, the head of offshore safety management for the Gulf of Mexico at the department's Bureau of Safety and Environmental Enforcement.
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Spending will go to key investments such as purchasing electrified drilling rigs for Sinopec's deep-well explorations in China and equipment upgrades aimed at expanding overseas markets like Saudi Arabia and Kuwait, Sinopec Oilfield said in a stock market filing.
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Even as the trucks buzzed across his land — five drilling rigs were working nearby — he had hunters on his property using bow and arrows to take down a pronghorn antelope, whose population is so large it still needs to be culled.
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NEW YORK (Reuters) - Companies that supply drilling rigs, fracking sand and other necessary tools to the U.S. oil industry are finding themselves stuck with a choice between losing customers or making further price cuts that could wipe out their profits altogether.
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Even as the majors have ramped up operations, the total number of drilling rigs at work in the Permian has dropped to 464, from 493 in November, as independent producers have slowed production, according to oilfield services provider Baker Hughes.
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Once a dominant supplier of drilling rigs to oil and gas firms exploring the North Sea, Dolphin was hit hard by a collapse in oil prices from 2014 to 2016 as well as competition from newcomers that drove down rig rates.
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Drilling rigs provider Paragon Offshore said on Friday that it would defer a US$15.4m interest payment on its 6.75% unsecured notes maturing in 2022 as it takes advantage of a 30-day grace period to continue negotiations with secured and unsecured bondholders.
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"We also have world-class unconventional gas resources that are rapidly supplementing our large conventional resources ... currently we have 16 drilling rigs concentrating on unconventional gas and more than 70 wells completed this year," CEO Amin Nasser said at a conference in Dubai.
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The number of rigs drilling for gas in the United States fell by three to 183 in the week to May 3, while oil-directed drilling rigs rose by two to 807, data from oil services firm Baker Hughes showed on Friday.
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OSLO, May 25 (Reuters) - The largest labour union representing workers on Norwegian offshore oil drilling rigs has agreed to a new wage deal, it said on Friday, averting the risk of a strike that could have hit exploration efforts later this year.
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U.S. producers, responding to lower crude prices and pipeline constraints, have idled 20 oil drilling rigs in the Permian since December, bringing the region's oil rig count to 473, the lowest since June, according to General Electric Co's Baker Hughes energy services firm.
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The number of rigs drilling for gas in the United States fell by 3 to 183 in the week to May 3, while oil-directed drilling rigs rose by 2 to 807, data from oil services firm Baker Hughes showed on Friday.
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Ahead of Thursday's announcement, lawmakers from both parties, environmental groups, and local business leaders along the Atlantic coast said they are opposed to any effort to open up their coastlines to drilling rigs, citing environmental risks and threats to their lucrative tourism industries.
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OSLO, June 21 (Reuters) - Some 2,250 workers on Norwegian offshore oil drilling rigs and in drilling and catering services on oil producing platforms could go on strike this summer after rejecting a proposed wage deal, the Safe labour union said on Thursday.
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Once a dominant supplier of drilling rigs to oil and gas firms exploring the North Sea, Dolphin was hit hard by the a collapse in oil prices from 2014 to 2016 as well as competition from newcomers that drove down rig rates.
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But growth is expected to slow as producers have reduced the number of oil rigs operating for a record 12th month in a row, sidelining a quarter of the country's drilling rigs in the past year, according to service firm Baker Hughes.
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But in its latest short-term energy outlook released in January, the IEA noted that slowing crude oil production growth will result from a decline in drilling rigs over the past year and that it expected this trend to continue into 2020.
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While both sides offered to invest around a billion dollars in Seadrill to continue its business of renting drilling rigs to oil companies, unsecured bondholders are aiming to increase their stake in the post-restructured company from around 15 percent offered in the original plan.
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LONDON (Reuters) - Oil and gas operators in the North Sea will benefit this year from another 10 percent drop in leasing costs for equipment such as drilling rigs and subsea kit as oversupply continues to drag down rates, analysts at consultancy Wood Mackenzie said.
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WASHINGTON (Reuters) - The U.S. Supreme Court on Monday tossed out a lower court's ruling that had allowed an American oil drilling company to sue Venezuela over the seizure of 11 drilling rigs in 2010 but allowed the business another chance to press its claims.
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Norway's plan involves drilling rigs located in remote deepwater, but Texas could bury its CO2 just a few miles off the Gulf coast in less than 100 feet of water, according to Tip Meckel, an economic geologist at the University of Texas at Austin.
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The chief executive of Nabors Industries also announced it is seeking to boost its Saudi manufacturing operations, speaking on the sidelines of an event marking Nabors and Rowan signing separate contracts with Aramco to establish joint ventures to own, manage and operate drilling rigs.
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During the latest boom period, the costs to hire drilling rigs and to man the rig crews inflated rapidly with demand for rigs — especially the preferred rigs purpose-built for efficiently developing the tight oil and gas formations that have upended the global energy picture.
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ConocoPhillips will spend about $4 billion per year on shale, running about 20 drilling rigs across four fields, and boosting shale production from more than 400,000 barrels per day (bpd) next year to around 900,000 bpd by the end of the decade, it said.
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ConocoPhillips will spend about $4 billion per year on shale, running about 20 drilling rigs across four fields, and boosting shale production from more than 400,000 barrels per day (bpd) next year to around 900,000 bpd by the end of the decade, it said.
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SAO PAULO, Feb 23 (Reuters) - Brazil's state-run Petroleo Brasileiro SA plans to shut down onshore drilling rigs in at least six states because of the low price of oil, newspaper Valor Economico reported on Tuesday, citing a source with knowledge of the operations.
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At the depths of a global slide that took oil below $22018 a barrel in early 2453, daily rates for leasing the most sophisticated floating drilling rigs had fallen to just $22019,000 from $500,000 a day, as producer returns from North Sea, Latin America and Canadian drilling evaporated.
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Safe would also take out workers on drilling rigs that conduct exploration or production drilling for oil firms, including 117 workers from the Transocean Spitsbergen; 80 workers from the Songa Offshore Enabler; 71 workers from Odfjell Drilling's Deepsea Stavanger and 60 workers from North Atlantic Drilling's West Elara, among others.
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Canadian Natural Resources, which operates in Western Canada as well as in the UK North Sea and offshore Africa, said it would add about 60 drilling locations across Alberta and put 3 additional drilling rigs to work next year, citing the relaxation in policy and a cut in income tax rates.
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WASHINGTON (Reuters) - Some U.S. Supreme Court justices on Wednesday appeared wary about the foreign policy implications of making it too easy for foreign governments to be sued in U.S. courts as they considered a lawsuit by an Oklahoma-based oil drilling company that claims Venezuela unlawfully seized 11 drilling rigs six years ago.
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Yet even as it cut spending and said it would use fewer drilling rigs and fracking crews in North Dakota and Oklahoma - its two main areas of operations - Continental said its production this year would rise at the midpoint by about 4 percent to 230,000 to 240,000 barrels of oil equivalent per day (boe/d).
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"The price weakness ... calls attention to some bearish news that the market had been willing to ignore, such as the high level of (fourth quarter) supply still in transit to consumers and the uptrend in U.S. drilling rigs and actual oil production," said Tim Evans, energy futures specialist at Citigroup, said in a note.
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At the same time, Mr. Zinke proposes to roll back safety regulations for offshore drilling rigs put in place after the 2010 Deepwater Horizon blowout, an extraordinary act of corporate misconduct that not only fouled the Gulf of Mexico but also eventually cost BP a tidy $61 billion in cleanup costs, federal penalties and reparations to individuals and businesses.
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About half of all active drilling rigs in the United States are operating in Texas, according to data from energy services firm Baker Hughes GE. A boost in oil prices above $60 a barrel has enticed oil and gas companies to ramp up activity, with drillers adding 11 oil rigs last week, bringing the total to the highest level since March of 2015.
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The clean water rollback is the latest in a series of actions by the Trump administration to weaken or undo major environmental rules, including proposals to weaken regulations on planet-warming emissions from cars, power plants and oil and gas drilling rigs, a series of moves designed to speed new drilling in the vast Arctic National Wildlife Refuge, and efforts to weaken protections under the Endangered Species Act.
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Days after the plan came out, Interior Secretary Ryan ZinkeRyan Keith ZinkeNew policy at Interior's in-house watchdog clamps down on interactions with press Overnight Energy: EPA proposes scrapping limits on coal plant waste | Appointee overseeing federal lands once advocated selling them | EPA lifts Obama-era block on controversial mine Latest appointee overseeing federal public lands once advocated to sell them MORE reversed course and pledged that waters near Florida would not have drilling rigs, a promise he reiterated Thursday to a Senate subcommittee.
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