Equinor and Shell Collaborate on Digital Solutions
The companies have signed a Memorandum of Understanding on digital collaboration to develop solutions and methods together through the exchange of expertise within areas like data science, artificial intelligence and 3D printing. The collaboration is expected to entail co-innovation across the whole value chain, such as maintenance, production optimisation and …
Parker Drilling Reports 2019 Fourth Quarter Results
Parker Drilling Company today announced results for the fourth quarter ended December 31, 2019, which included a net loss of $2.1 million, or a $0.14 loss per share on revenues of $156.3 million. Fourth quarter Adjusted EBITDA was $25.9 million (1). Michael W. Sumruld, the Company’s Senior Vice President and CFO, said, …
Halliburton Releases NitroForce™ High Torque, High Flow Drilling Motor
Halliburton Company today released NitroForce™, a new drilling motor that provides increased power and performance to complete longer laterals faster and with greater control. The motor delivers high reliability helping operators reduce potential motor failure and increase drilling speed to save well time and costs. “As operators focus on greater …
ConocoPhillips Appoints Two New Members to its Board of Directors
ConocoPhillips announced today that its board of directors has elected Mr. David T. Seaton and Mr. Al Walker to serve as board members. Mr. Seaton served as chief executive officer of Fluor Corporation from 2011 to 2019, and as chairman from 2012 to 2019. Mr. Seaton joined Fluor in 1985 …
Weatherford Unveils Centro™ Digital Well Delivery
Weatherford International plc today introduced Centro™, a holistic approach to effectively managing complex wellsite operations digitally. By seamlessly integrating every element of an operator’s well data, team members from any global location can access, share, and store all vital project information at any time. Centro makes consolidated data available in real …
DNV GL Launches Venture Fund Inspired by ‘Decade of Transformations’
DNV GL, the risk management and system assurance company, has launched a venture fund in response to the challenges of the “decade of transformations,” which will be defined by the energy transition and the fourth industrial revolution. DNV GL Ventures will build a portfolio of between 15-20 startups in the …
Tubes and Piping are Most Failure-Prone Components in Oil and Gas and Maritime Industries, DNV GL Research Reveals
New DNV GL research based on more than 1,000 failure cases has revealed that tubes and piping are the most failure-prone components in the oil and gas and maritime industries. Fatigue and corrosion are the most common failure types. The research is based on cases from DNV GL’s global network …
Plexus Holdings PLC: Additional POS-GRIP® Wellhead Equipment Sale to Russian Licensing Partner
Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, is pleased to announce that its Russian licensee, LLC Gusar (‘Gusar’), has placed an order for an additional set of POS-GRIP® exploration rental jack-up drilling wellhead equipment. …
Paradigm Group Drilling Services Launches Online Store
Paradigm Drilling Services (PDS), part of Paradigm Group based in Inverurie Aberdeenshire, is launching an online store to offer their range of drilling tools and services. The online shopping experience has been pioneered by the company to make it easier for their clients to order products and support their projects. …
Siemens to Modernize Full Drilling-Drives Package and Cooling System on Jackup Rig for Arabian Drilling Company
Siemens was awarded a contract by Arabian Drilling Company to modernize a complete and integrated drilling-drives lineup, including auxiliaries and controls, that will be installed on an offshore jackup drilling rig for a customer in the Middle East. In addition to new features and benefits, the upgrade will also enable …