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Monthly Archives: June 2013

Oil down in Asia on profit-taking

Oil succumbed to a bit of profit-taking during Friday’ s Asian session after racing to a fourth consecutive gain during Thursday’s U.S. session.

On the New York Mercantile Exchange, light, sweet crude futures for August delivery fell 0.43% to USD96.64 per barrel in Asian trading Friday after settling up 1.62% at USD97.05 a barrel on Thursday in the U.S.

Traders boosted oil futures following a spate of decent U.S. data points. In U.S. economic news out Thursday, the National Association of Realtors said its pending home sales index jumped 6.7% to 112.3 last month. Signed contracts are up 12.1% in the past year.

The Commerce Department said personal incomes rose 0.5%, or $69.4 billion, in May. Personal spending increased 0.3%. Economists expected a 0.2% gain in incomes and a 0.4% increase in spending.

The Labor Department said weekly jobless claims fell by 9,000 to 346,000 last week. Economists expected a decline to 345,000 claims. For the four weeks ending June 22, claims declined by an average of 2,750 to 345,750.

The U.S. is the world’s largest oil consumer.

Separately, a press report out Thursday citing Harvard University said the U.S. could be the world’s largest oil producer by 2017 due to the shale boom there, but the report added that oil must stay above $75 per barrel in order for that to happen.

Soaring production at shale plays in states such as North Dakota and Texas have helped U.S. crude output reach its highest levels in multiple decades and by some estimates, the U.S. could be producing more crude than it imports within the next two years.

Elsewhere, Brent futures for August delivery fell 0.20% to USD102.47 per barrel on the ICE Futures Exchange.

 

Australia’s Woodside to Irish oil, gas blocks

SYDNEY–Woodside Petroleum Ltd. said Friday it has agreed to buy controlling stakes in about a dozen deepwater oil and gas exploration blocks off the coast of Ireland, as the Australian company expands offshore to offset slow progress on planned developments at home.

Woodside, Australia’s biggest oil company by output after BHP Billiton Ltd. (BHP.AU), said it has agreed to buy an 85% interest in seven blocks in the Porcupine Basin off Ireland’s southwest coast from Petrel Resources PLC. .

In a separate deal, it has also agreed to buy a 90% interest in another six blocks in the same basin from closely-held Irish company Bluestack Energy Ltd.

Terms of the deal were not disclosed by Woodside.

“The Porcupine Basin is an emerging oil and gas province which has seen increasing industry activity over the past several years,” Woodside Chief Executive Peter Coleman said in a filing.

Woodside put an expansion of its $15 billion Pluto gas-export facility in Western Australia state on ice last year after it failed to find enough gas nearby and talks with rival suppliers broke down. High costs have also prompted it to abandon plans to develop the Browse gas resource in Western Australia using an onshore liquefied natural gas plant, while development of the Sunrise natural gas resource is mired in a political dispute with the tiny nation of East Timor.

Aware of a looming production plateau, Woodside last year bought some exploration acreage in Myanmar and agreed to acquire a stake in the massive Leviathan natural gas discovery offshore Israel for more than US$1.2 billion.

Oilfield services company-Aker Solutions

Aker Solutions provides oilfield products, systems and services for
customers in the oil and gas industry world-wide. Their knowledge and
technologies span from reservoir to production and through the life of
a field.

Aker Solutions brings together engineering and technologies for oil and
gas drilling, field development and production. The company employs
approximately 28 000 people in more than 30 countries, who apply the
knowledge and create and use technologies that deliver their customers’
solutions.

Their portfolio of oilfield products, systems and services, stretches
all the way from the reservoir to the wellstream processing systems
generating marketable and valuable hydrocarbon products.

Aker Solutions ASA is the parent company in the group, which consists
of a number of separate legal entities. Aker Solutions is used as the
common brand and trademark for most of these entities. In 2011 Aker
Solutions had aggregated annual revenues of approximately NOK 36.5
billion. The company is listed on the Oslo Stock Exchange.

 

 

 

Gazprom’s offshore drilling rigs delivered to Sakhalin shelf

The Severnoye Siyaniye (Northern Lights) semi-submersible drilling rig (SSDR) has been delivered to the Yuzhno-Kirinskoye field in the Sakhalin shelf. The Polyarnaya Zvezda (Polar Star) SSDR was the first to arrive in the Kirinskoye field. The offshore drilling rigs are owned by Gazprom and built on the Company’s order by the Vyborg Shipbuilding Plant.

The drilling rigs made a successful trip of nearly 550 nautical miles from the Kholmsk Port across the La Perouse Strait into the Sea of Okhotsk.

Polyarnaya Zvezda will continue the construction of production wells launched last year. It is projected to finalize the second well with a depth of over 3,600 meters in a three-and-a-half month’s period during the 2013 season. This drilling rig will also build the third well next year.

The first production well at the Kirinskoye field will be connected to a gas gathering system this summer and the first gas will be produced by Gazprom in autumn. Production rates will climb as more wells (six in total) are put onstream.

Gazprom is implementing a rapid exploration program at the Yuzhno-Kirinskoye field – exploratory drilling is underway to determine the geological structure and estimate the reserves.

The Severnoye Siyaniye SSDR will build and test a 3,200 meter exploratory well during four and a half months of this season. Thereafter, the Korean Doo Sung SSDR leased by Gazprom will arrive in the field to drill another well to the depth of nearly 2,900 meters.

Gazprom plans to build another two exploratory wells at the Yuzhno-Kirinskoye field in 2014. The Company expects to increase the gas and condensate reserves through exploration activities.

 

Solids control system for well drilling

Commonly used solids control methods are Dilution, Interchange, Sedimentation and Mechanical removal.

Mechanical removal has the following features:

1 Equipment matching, eliminate step-by-step.

2 Stable mud performance, less mud loss and low pollution.

3 Low cost.

Solids control system is a way of Mechanical removal, mainly includes three parts: drilling fluid circulating tank, drilling mud cleaning equipment, electronic control device.

Solids control system is according to the principle of screening and centrifuge to process drilling fluid with different density and particle size. According to the need to trade-off, and get the drilling fluid with the best performance.Solids control system.

With the development of well drilling technology, drilling fluid solids control system plays an important role in drilling operation, various kinds of solids control systems emerged at the right moment, no matter how to change the type of solids control system, it’s basic function will not changed. It is depend on organic combination of mechanical removal equipments, drilling fluid storage tanks and other auxiliary equipments to accomplish the basic function.

 

DC Solid control 6 Inch Mud Hopper

DC Solid control  6 Inch Mud Hopper:

1 Required Pressure: 40 to 60 PSI
2 Volume: 1100 to 1400 GPM
3 Solids: 400 to 600 LB/MIN (4 to 6 “100 lb” sacks per minute)
4 Choke Nipple Bore: 1-3/4” (44 mm)

The following picture is the dimensions of DC Solid control  6 Inch Mud Hopper.

Dimension

Global Oil Demand Will Hit 100 MMbopd by 2040

Statoil expects global demand for oil to grow to by 15 million barrels per day to around 100 million bopd by 2040, although this demand is expected to peak around 2030, according to the Norwegian major’s latest “Energy Perspectives” report.

As with last year’s report, Statoil continues to see gas as “a fuel of the future” with global gas demand expected to increase at an average of 1.6 percent through to 2040. Statoil noted that the supply potential of shale gas “continues to surprise” both in terms of volumes and marginal costs, while environmental policies are expected to help improve the competitiveness of gas – which is the cleanest fossil fuel in terms of carbon emissions.

Oil demand is forecast to grow at 0.5 percent per year, which is a slightly greater rate than last year’s forecast, with income growth and an increase in private transport in emerging economies being the two most important drivers of oil demand.

Statoil noted that the technology-driven shale revolution and continuous improvements in oil sands technology mean that several new types of oil liquids – like tight oil and natural gas liquids from shale gas and oil sands – have become economical.

Oil demand is expected to peak around 2030, with growth limited mainly by a relatively high price and fuel competition, technological change and efficiency improvements in the transportation sector.

 

BRANDT VNM SERIES SCREENS

INTRODUCING THE NEW STANDARD IN SCREENING PERFORMANCE

Brandt VNM screen

The VNM series shale shaker screens utilize an advanced frame design and unique mesh combinations to effectively and efficiently separate detrimental drilled solids from drilling fluid. VNM series screens are designed to fit all Cobra and LCM series shale shakers.

 

FEATURES

BENEFITS

Reinforced screen frame design

  • Provides improved energy transfer from the shaker basket to the screen, thus faster solids separation.
  • Improves screen life, thereby providing replacement cost savings and downtime minimization.
  • Eliminates the need for crown rubbers, which eliminates the cost of replacements.

Individual seals around the perimeter of the screen

Eliminates leakages

Patented pin-and-hole screen securing system

Guarantees that screens fit snugly to the shaker basket and will not slip or slide once secured

Compliant with API RP 13C

Ensures a consistent product that will meet specifications worldwide

NOV Brandt MINI COBRA 2-PANEL SHAKER

MINI COBRA 2-PANEL SHAKER

The National Oilwell Varco Brandt Mini Cobra 2-Panel shaker utilizes two pretension screens and linear motion to remove detrimental drilled solids from the mud system. This allows the Mini Cobra shaker 2-Panel to minimize mud losses while enhancing cutting dryness. Maintenance on the unit is minimal and only a small inventory of replacement parts is necessary to sustain optimal operation. The small footprint and low weir height of this shaker makes it ideal for workover and small drilling rigs. Additionally, the shaker’s rugged design offers years of reliable operation.

Features and Benefits:

FEATURES

BENEFITS

Unique, rugged basket design

Provides optimal mud coverage of screen surface

Few replacement parts

Small parts inventory provides cost savings

Linear motion

Solids are separated and quickly discharged with minimum attrition

Exclusive deck angles (0°, +5°)

Keeps the mud pool volume small, which helps to increase screen life

Small footprints

Allow for installation in areas of confined space

Low weir height

15 in (381 mm) allow for installation in tight areas

Utilizes two (2) repairable, pretension screens

16.8 ft2 (1.6 m2) of screen area which is repairable, thus offering cost savings

Individual seals on every screen (VNM series)

Screen seals eliminate screen leakage

Patented pin-and-hole screen securing system

Screens fit snugly and will not slip or slide once secured

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