13,915 wells active The North Dakota Industrial Commission released its latest Oil and Gas Production Report today, outlining hydrocarbon activity in the state for June 2017. 1,032 MBOPD, 1,850 MMcf/d produced in June Oil production fell in June, dropping to 1,032 MBOPD from 1,041 MBOPD in June. Unconventional development continues to further dominate production in North Dakota, as production from
Five rigs shut down Activity in the oilfield may be softening a bit. Drilling activity in the U.S. fell for the second week in a row, according to Baker Hughes’ Weekly Rig Count. There are now a total of 949 operational rigs in the U.S., five less than were active last week. Six land rigs shut down, meaning there are
During its second quarter, Superior Drilling Products (ticker: SDPI) reported revenue of $4.0 million, up from $2.9 million in the previous year’s Q2. The company’s net income was $0.3 million for Q2, up $3.4 million from a Q2, 2016 loss. The company’s Drill-N-Ream®—or DnR—technology increased in sales and the company said that its channel partner successfully achieved its June 2017
From Bloomberg/Calgary Herald Citgo Petroleum Corp., the largest U.S. importer of Venezuelan oil and a unit of state-owned Petroleos de Venezuela SA, has started to make quiet inquiries to buy Canadian crude for its refineries in Texas and Louisiana, according to people familiar with the situation. The imports would be used to replace dwindling shipments from Venezuela, where output dropped to
Two companies, Eco-Stim Energy Solutions and Bellatrix Exploration, that are presenting at EnerCom’s The Oil & Gas Conference® have announced Q2 earnings and updates. Eco-Stim Energy Solutions Eco-Stim Energy Solutions (ticker: ESES) announced during its Q2 earnings call that is had increased its revenue by 233% over Q1, 2017 to $8.5 million. The company signed a second contract for services in
From The Canadian Press Thirteen years ago, Wall took the helm of the Saskatchewan Party and transformed it from a political underdog to a powerhouse. The stunning announcement sent shockwaves through the province. One of Canada’s most high-profile premiers who rose to national prominence for his down-to-earth style, sharp wit and, more recently, his willingness to lock horns with Ottawa
From The Conversation McMaster University With NAFTA renegotiations kicking off soon, it’s worth a reminder: economic self-sufficiency is not an option for Canada. As a resource-rich country set in a Nordic climate with a small population and a massive expanse of land, Canada needs to trade. Trade allows Canadian consumers to buy products and services they either cannot produce at home
Ethylene capacity of 10.3 million tonnes to enter U.S. market before 2020 From Petrochemical Update Several U.S. chemical companies grew at a double-digit rate for the last two consecutive quarters, the first time since 2011, and this growth is spurring key decisions on second wave construction plans, analysts told Petrochemical Update. “Second quarter earnings showed solid growth against a benign
From Bloomberg New gas market regulator to be set up to govern sector; private sector can participate in transport, distribution Egypt is opening the door to private participation in its natural gas sector, moving to end the state’s monopoly as it pushes ahead with reforms meant to encourage investment and revive the economy. The new law signed by President Abdel-Fattah
From the Jordan Times AMMAN — Foreign Minister Ayman Safadi on Thursday urged Iraq to expedite efforts to reopen Amman-Baghdad road and implement the planned Iraqi oil pipeline. He also called for supporting the private sectors in the two countries to further develop trade relations and serve mutual interests. At a meeting with Iraqi Prime Minister Haider Abadi, he congratulated
From the Houston Chronicle A proposed Louisiana port project could define the ceiling for the future of the Texas shale oil boom, according to a new report. While Houston and Corpus Christi are leading the way in the burgeoning crude oil export industry, they could be surpassed by proposed plans to turn the Louisiana Offshore Oil Port into a “two-way
Statoil said it wanted to steer more of its annual investments toward the renewable energy sector Aug. 10 (UPI) — A swap arrangement for parts of the Dogger Bank wind farm off the British coast puts the power in the hands of their respective owners, a consortium said. Statoil signed a swap agreement with British energy company SSE and German energy
