A rebound in oil prices that bottomed near $44 a barrel in March has provided some relief to stronger companies that have been able to compensate with cost cuts and more efficient operations. For many smaller, cash-strapped producers, current prices of almost $60 still aren’t enough to make ends meet compared to the $100-plus prices seen during the boom days.
Mike Bahorich, executive vice president and chief technology officer at Apache Corp., noted that diesel is still the dominant fuel for high horsepower engines, which drive operations at drilling sites.
CDL, winners of the 2013 Subsea Industry Innovation & Technical Award, will kick-off this year’s SSTB Conference in San Antonio with the introduction of their new generation subsea vibration and motion monitoring system.
Anadarko Petroleum Corp. (NYSE: APC) has signed a definitive agreement with an undisclosed party to enter into a carried-interest arrangement for a portion of Anadarko’s ownership in the Heidelberg development project in the deepwater Gulf of Mexico.
The chief executive of the world’s largest oil giant said Tuesday at the CERAWeek energy conference in Houston that he planned to invest heavily in renewable energy technology, even during a renaissance of fossil fuel production.
Energy companies developing tight oil in the United States are going head-to-head with Canadian crude producers in a competition for scarce options to ferry those supplies to American refineries. But the two resources can peacefully coexist, industry representatives told CERAWeek delegates on Tuesday.
Addressing the challenges posed by the harsh environments and extreme pressures of deepwater drilling, 3M will introduce the Scotch High Strength Filament Tape 890HD at this year’s Subsea Tieback Forum & Exhibition.
The oil and gas industry is facing a talent gap just as a large number of older and more experienced employees is nearing retirement, a troubling trend that is especially acute in the United States and Canada, demographics experts said Tuesday.
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