The mobile offshore drilling unit Development Driller III at the Deepwater Horizon site on May 7, 2010. (U.S. Coast Guard file photo)

OTC Commentary: Baker Hughes taps the Lower Tertiary

The size of the Lower Tertiary prize is huge, but so are its challenges: water depths of 5,000-10,000 feet; reservoirs as deep as an additional 26,000 feet beneath the seabed; downhole temperatures up to 300?F and reservoir pressures up to 25,000 psi; oil that does not flow naturally to the surface like it does in other reservoirs, and low average recovery factors.
The world’s first high temperature angular rate gyro enables detection and mitigation of damaging shock and vibration when drilling in extreme environments. (Weatherford)

OTC Tech Award: The same tech used in cellphones and game controllers could help Weatherford take better drilling measurements

Weatherford’s Total Vibration Monitor could help exploration and production companies get real-time data
Smoke and flames erupt from the scene of a train derailment Thursday, March 5, 2015, near Galena, Ill. A BNSF Railway freight train loaded with crude oil derailed around 1:20 p.m. in a rural area where the Galena River meets the Mississippi, said Jo Daviess County Sheriff's Sgt. Mike Moser. (AP Photo/Telegraph Herald, Mike Burley)

Feds move forward with tougher crude-by-rail standards

The Transportation Department’s rule calls for what it described as an aggressive schedule for retrofitting older tank cars carrying crude and ethanol.
(Ty Wright/Bloomberg)

U.S. oil rig count falls again

U.S. oil companies sidelined 24 oil-drilling rigs this week, according to Baker Hughes’ rig count released Friday, dropping the number of active oil rigs to 679.
Saudi King Salman on  Tuesday, March 10, 2015. (AP Photo/SPA)

Saudi Aramco creates supreme board as oil exporter reorganizes

Saudi Arabia is pumping near-record amounts of crude, leading the Organization of Petroleum Exporting Countries in a policy of maintaining output to pressure suppliers outside the 12-nation group to help tackle an excess.
(Photo by Robert Nickelsberg/Getty Images)

Church of England dumps coal as fossil-fuel divestment gains

The Church of England will dump its holdings in coal and oil-sand producers and has ruled out backing companies with exposure to the most polluting fossil fuels, joining the movement that wants investors to help fight climate change.
Categories: Coal

OTC: There’s lots of Tex-Mex, Mexican fare to be had

Tex-Mex is the native Houstonian’s comfort food. We flock to places where the chips and salsa are unlimited, the margaritas are strong and the tortillas arrive warm.
Categories: OTC
(AP file photo/Mike Derer)

AAA: Millenials are finally buying gasoline

Americans under 35 are almost twice as likely as those above that age to report driving more because of the $1-a-gallon drop in prices at the pump over the past year.
(AP Photo/ Louis Lanzano)

Wall Street models fail as Big Oil crushes estimates

Exxon Mobil Corp., BP Plc and other major oil producers beat analysts’ profit estimates by an average of 46 percent for the first quarter, according to data compiled by Bloomberg
A boat of tourists moves on Dubai creek, with the city skyline in the background in Dubai, United Arab Emirates. (AP file photo/Kamran Jebreili)

The oil slump is emptying the stores of Dubai

With the plunge in crude throttling economies across the Middle East, gold buyers are harder to find.