Fuel Fix

Rigs stacked at a business 20 miles west of Farm-To-Market Road 1788 photographed Tuesday, Feb. 24, 2015. (AP Photo/Reporter-Telegram, James Durbin)

A single oil rig was shut down last week, extending six month decline

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As the price of oil seemingly began to stabilize for now near $60 a barrel, the U.S. oil rig count slowed its pace of decline down to a crawl. The number of U.S. oil rigs is now at 659, according to Baker Hughes data, after dropping by eight oil rigs a week prior.

A single oil rig was shut down last week, extending six month decline

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Rigs stacked at a business 20 miles west of Farm-To-Market Road 1788 photographed Tuesday, Feb. 24, 2015. (AP Photo/Reporter-Telegram, James Durbin)
As the price of oil seemingly began to stabilize for now near $60 a barrel, the U.S. oil rig count slowed its pace of decline down to a crawl. The number of U.S. oil rigs is now at 659, according to Baker Hughes data, after dropping by eight oil rigs a week prior.
Original byline: Jim Blecha/

Vanguard Natural Resources scoops up smaller Houston rival for $474 million

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The most recent deal comes on the heels of Vanguard’s announcement in April that it will acquire LRR Energy LP for more than $250 million.
Categories: Crude oil, Deals, featured, Shale

FMC Technologies' subsea equipment has helped fuel the company's growth. (Photo: Johnny Hanson/Houston Chronicle)

From ropes to bolts, everything is bigger at OTC

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All of the products needed for deepwater development are engineered at a level beyond what most other industries require.
Categories: featured, OTC
Jeremy Thigpen

Transocean beats estimates on cost cutting

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Jeremy Thigpen takes the helm as the drilling industry confronts the double whammy of a glut of new deep-water rigs and falling demand as producers reduce spending because of the collapse in oil prices.
Categories: Offshore

Energy executives discussed how to develop the right portfolio of oil and gas assets at an Offshore Technology Conference panel.

Oil producers shouldn’t shun their global assets during a downturn, Woodside Petroleum exec says at OTC

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Oil and gas production companies need to “knee-jerk reactions” to investor activism and other short-term concerns, the executive said.
Categories: OTC
Eric Carre, Halliburton vice president (Halliburton)

OTC Commentary: Industry can meet long-term deep-water challenges

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A Halliburton executive says he expects deepwater to be among the leading segments of the oil and gas industry into the future.
Categories: OTC
A Floating Production Storage Offloading (FPSO) like this one will be used in the Gulf of Mexcio to handle production from Petrobras' Chinook-Cascade project in the deep-water Gulf of Mexico. (Photo: Petrobras)

OTC: Petrobras has emerged as a leader in drawing oil from beneath tough layers of salt deep in the ocean

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In recent years, Petrobras has ramped up its efforts in technology development to tap into oil in waters up to 7,200 feet, which resulted in the development of different riser systems that helped reduce drilling and completion time for wells.
Categories: OTC
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Hungry OTC attendees chow down in food truck plaza at NRG Park

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if the weather is right, conference attendees can also step outside to grab a bite from a bevy of food truck options.
Categories: OTC
Charlie Williams, Brian Salerno and Coast Guard Rear Adm. Joseph Servidio discuss safety during an OTC panel Thursday.

OTC Q&A: Top offshore drilling cop talks safety, risk and rules

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Too many accidents and near-misses are happening at oil and gas facilities in coastal waters, including at decades-old operations on the shallow continental shelf, said Bureau of Safety and Environmental Enforcement Director Brian Salerno.
Categories: OTC
Regan McLaurin, of Industrial Solutions & Innovations, of Alvin, runs an automated hot wire tig roll out welder at the Offshore Technology Conference at the NRG Center Tuesday, May 5, 2015, in Houston, Texas. ( Gary Coronado / Houston Chronicle )

Video: Automated welding can complete the same job as a skilled worker in a fifth of the time

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At a time when highly skilled welders are in short supply, automated welding offers alluring cost-savings.
Categories: OTC
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, Jessica Reilly)

Crude train derailment prompts evacuation of North Dakota town

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No injuries were reported in the accident, which happened near Heimdal, about 115 miles northeast of Bismarck. The residents who left were staying with family and friends, Wells County Emergency Manager Tammy Roehrich said.
Categories: OTC
Oceaneering’s Magna Scan inpsects pipelines from the outside using ultrasonic scanning. 

CREDIT: Oceaneering

Oceaneering’s Magna Scan makes any deepwater pipeline “piggable”

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Aging pipelines have historically been more prone to bugs, which eat into the pipe like a tiny drill, but more and more modern lines are at risk, too.
Categories: OTC
Cameron’s Mark IV High-Availability BOP Control System is the only blowout prevention system that features three points-of-distribution, or PODs, which significantly lessens the chance of delays in drilling in the event of a POD failure. 

Credit Cameron

Cameron says its Mark IV blowout preventer is “future-proofed”

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Work on the Mark IV HA began three years ago with six months of research, followed by two-and-a-half years of engineering.
Categories: OTC
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At OTC, recruiter says layoffs could climb by 20,000, but job market could return in 2016

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“If you’re coming out of graduate school this year with a fantastic degree in the oil sector, I’d probably wait a year and go on vacation. In a year’s time, it will all be back again,” Swift Worldwide Resources CEO Tobias Read said.
The concrete walls on BP's new computing center are made to look like seismic images. (Zain Shauk/Houston Chronicle)

Exec at OTC: For BP, big data ups production by nearly 300,000 barrels a day

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Over the past two years, BP has built ties to a major technology company and is developing 10 major projects across the company that use big data analytics to corral the massive streams of information gushing from its oil fields.
Categories: Offshore, OTC, Technology
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OTC Networking Tips: Engage on social media or get left behind

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When it comes to recruiting and retaining employees, engagement is a hot word these days.
Categories: OTC
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Mayor Annise Parker joins the launch of Pink Petro

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Pink Petro, which has the support of Shell, Halliburton and Jive Software, is designed to be a resource of ideas, solutions and contacts for women, and the men who support them, within the oil and gas industry.
Categories: OTC