Tethys Petroleum: Installs ESP at AKD-01
Tethys Petroleum Limited today announces that it has successfully completed the installation of an Electrical Submersible Pump (“ESP”) in its main oil producing well, AKD-01. AKD-01 has been producing under natural pressure since first oil in September 2010 and to date has produced approximately three million barrels of oil. Production …
LUKOIL-AIK Hydraulic Fracture Mapping in Western Siberia
Alexander Kalugin, Geology and Drilling Department, LUKOIL-AIK Iskander Kazbulatov, Wireline Engineer, Weatherford Anna Rubtsova, Borehole Seismic Geophysicist, Weatherford Microseismic monitoring is one of the most efficient methods for hydraulic fracturing mapping. Its principle is based on monitoring micro-earthquakes in the strike-slip fault zones at the fracture propagation direction, or …
GE to Acquire Lufkin Industries
GE and Lufkin Industries Inc. announced today a joint agreement whereby GE will acquire Lufkin Industries Inc., a leading provider of artificial lift technologies for the oil and gas industry and a manufacturer of industrial gears, for approximately $3.3 billion. Lufkin shareholders will receive $88.50 per share in cash for …