Oil prices have continued to move upward in recent weeks, and that has spurred the talk of rig counts possibly increasing and production coming back online. As oil prices flirt with the $50 mark, this may become a reality to onshore producers in the U.S. However one important area of production is still struggling to find solid footing: offshore oil
Core Lab (ticker: CLB) only company capable of generating EOR data at 20,000+ PSI in GOM Deepwater Plays Core Laboratories (ticker: CLB), a global leader in reservoir description, production enhancement and reservoir management services, announced the purchase of Sanchez Technologies in an all-cash transaction on June 22, 2015. Terms were not disclosed. Sanchez Technologies, based in France, designs and manufactures
Unconventional wells are becoming more economically difficult as prices remain low With oil losing more than 50% of its value in six short months, United States shale producers are increasingly feeling the market squeeze as they struggle to competitively price their product in the global sphere. In June of 2014, when West Texas Intermediate (WTI) prices reached a high of
Maersk Drilling Orders Industry’s First 20-ksi Deepwater Blowout Preventers for 2 Ultra-Deepwater Drilling Rigs Maersk Drilling (Ticker: MAERSK-B.CO) has ordered four blowout preventers (BOPs) and two risers from GE Oil and Gas (Ticker: GE). The GE Oil and Gas BOPs will make it possible for offshore drillers to safely and efficiently operate in high-pressure and high-temperature reservoirs up to 20,000
Callon Petroleum (ticker: CPE) is engaged in the acquisition, development, exploration and operation of oil and gas properties in Texas, Louisiana and the offshore waters of the Gulf of Mexico. In 2009, Callon began a strategic initiative to diversify its operations from strictly offshore Gulf of Mexico by entering the Permian Basin of West Texas. The company’s move to diversify
