2011

Halliburton has successfully executed the first horizontal, multistage hydraulic fracture shale gas completion in Argentina’s Neuquén Basin for Apache. Halliburton provided all major well construction and completion services for the project, resulting in the successful delivery of South America’s first horizontal and deepest shale gas well. As global development of …

Dear Shareholders, During the second quarter of 2011, the  market conditions for crude oil further improved. In turn, the oil products market faced higher costs and new fiscal initiatives. The price of Urals increased by more than 12% quarter-on-quarter. The Russian Ruble strengthened against the US Dollar. Demand for oil …

New funding for high-sensitivity broadband data acquisition systems for microseismic fracture and fluid mapping, and to expand the company’s state-of-the-art GPU-based computing. Spectraseis today announced that it has received new investment funding of CHF 2.8 million ($3.6 million) from SVC-Ltd, a fully owned subsidiary of Credit Suisse Group. The investment …

Bjørnøya Ice Bear Survey Builds on Successful Multiclient Program in Barents Sea   WesternGeco announced today that it has begun acquisition of the Bjørnøya Phase I “Ice Bear” 3D multiclient survey in the highly prospective West Loppa area of the Barents Sea. Following previous surveys in the area, the Ice …

Matra, an independent oil and gas exploration and production Company with operations in Russia, announces an update on its operations and plans in the Sokolovskoe Field, Russia. Current Operations Well-12 Well-12 has suffered from a build-up of wax in the tubing and an increase in water cut to 70% and …

– Baker Hughes has introduced the next generation of its Reservoir Characterization eXplorer™ (RCX™) and In-situ Fluids eXplorer™ (IFX™) formation testing services. Used jointly, these services accurately characterize fluid properties in real time—eliminating the need for extensive and time-consuming analyses. Combined with other formation evaluation techniques, they provide critical information …

Schlumberger announced today the release of the IntelliZone Compact* modular multizonal management system. The IntelliZone Compact system is the first in the industry to integrate modular components in one compact unit, which enables operators to optimize well production and reduce time to deployment. “The streamlined process of design through assembly …

Varel announces the commercial launch of new Higher Roller series roller cone drill bits. The bits, ranging from 14-3/4” to 18-1/2”, are sealed roller bearing designs with either Mill Tooth or Tungsten Carbide Insert cutting structures. This series responds to increasing demands on larger diameter roller cone drill bits that …

Heritage Oil Plc, an independent upstream exploration and production company, announces that the drilling and testing of horizontal well 363 has been completed in the Zapadno Chumpasskoye Field in Russia, resulting in a significant increase in production. Highlights  Production from the field has increased from 431 bopd in the …

International Petroleum Limited, an oil and gas exploration company with assets in Kazakhstan and Russia, is pleased to update the market on the discovery of a second oilfield at its Krasnoleninskiy Project in Western Siberia. On 5 August 2011, the Company announced that it had discovered an oilfield during testing …