Latest Petroleum production Stories

US natural gas prices reach two-year high

2013-04-23 08:27:31

Higher demand, drilling cuts, lower storage levels raise gas prices 50 percent above record lows, according to Ernst & Young quarterly oil and gas update HOUSTON, April 23, 2013 /PRNewswire/ -- Cutbacks in US natural gas drilling and production and higher North American demand combined to decrease storage levels and raise prices above $4/mmbtu in the first quarter of 2013, according to Ernst & Young Oil & Gas Center's quarterly analysis. Gas-directed drilling fell in 2012...

MMME target zone for future opportunity

2013-04-23 08:27:27

10th Maghreb, Mediterranean, MidEast Upstream Conference highlights new developments PARIS, April 23, 2013 /PRNewswire/ -- With the potential to satisfy all of Europe's gas-LNG needs, with much unexplored terrain and new oil-gas finds the Maghreb, Mediterranean & MidEast region remains a target zone for future opportunity and will continue to shape the dynamics of the global upstream industry. All new discoveries, production developments, gas-LNG finds, state oil/gas policies and...

Parker Drilling Acquires International Tubular Services Limited, A Premier International Rental Tools and Well Services Provider

2013-04-22 12:24:00

HOUSTON, April 22, 2013 /PRNewswire/ -- Parker Drilling Company (NYSE-PKD), an international drilling contractor and drilling services and rental tools provider, announced today the acquisition of International Tubular Services Limited and certain affiliates (ITS), subsidiaries of ITS Tubular Services (Holdings) Limited, a privately held international rental tools and well services company. In line with Parker's strategic goal to offer additional integrated products, services and...

TAG Oil Targets Unconventional Discoveries with First Oil and Gas Exploration Well in New Zealand's East Coast Basin

2013-04-22 08:23:20

VANCOUVER, April 22, 2013 /PRNewswire/ - TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), is pleased to announce that drilling of the Ngapaeruru-1 exploration well is now underway in TAG's 100% controlled Petroleum Exploration Permit 38349, located in the East Coast Basin of New Zealand. The Ngapaeruru-1 exploration well, spudded at 4:30am on April 22(nd), 2013 is targeting the Waipawa Black Shale and Whangai source rock formations at an anticipated depth of 1,800 meters, and will test...

Ulterra Introduces Ground-Breaking CounterForce(TM) PDC Bit Technology

2013-04-22 00:20:15

FORT WORTH, Texas, April 21, 2013 /PRNewswire/ -- Ulterra today announced the introduction of CounterForce, a breakthrough in PDC bit design technology that utilizes a unique cutter configuration that lowers bit torque and vibration, thus creating more efficient failure of rock. Unlike traditional PDC bits, the cutters of this patent-pending, step-change advancement in new PDC technology work together to lower lateral vibration and increase crack propagation. The CounterForce cutting...

Rowan Provides Fleet Contract Status Update

2013-04-18 20:22:02

HOUSTON, April 18, 2013 /PRNewswire/ -- Rowan Companies plc ("Rowan" or the "Company") (NYSE: RDC) announced today that its monthly report of drilling rig status and contract information has been updated as of April 18, 2013. The report titled "Monthly Fleet Status Report," can be found on the Company's website www.rowancompanies.com on the Home page. (Logo: http://photos.prnewswire.com/prnh/20120827/DA62568LOGO) Notable events in the current report include: Gorilla VII: Rig is...

Newpark Resources Announces Two Deepwater Contract Awards

2013-04-18 16:24:23

THE WOODLANDS, Texas, April 18, 2013 /PRNewswire/ -- Newpark Resources, Inc. (NYSE: NR) today announced that it has been awarded two deepwater contracts. In Brazil, the Company was awarded a two-year contract from a subsidiary of Total S.A., to provide drilling fluids and related services for a series of wells planned in the Campos Basin. The Company was also awarded a contract by another supermajor to provide drilling fluids and related services for a series of wells to be...

FPSO Market - Floating Production Storage and Offloading (FPSO) Industry - Global Market Analysis, Competitive Landscape and Planned Projects to 2016 - New Industry Report Available at MarketResearchReports.Biz

2013-04-18 08:27:45

ALBANY, New York, April 18, 2013 /PRNewswire/ -- New Market Research Report Added in MarketResearchReports.Biz Reports Database Floating Production Storage and Offloading (FPSO) Industry - Global Market Analysis, Competitive Landscape and Planned Projects to 2016 [http://www.marketresearchreports.biz/analysis/166474 ] Floating Production Storage and Offloading (FPSO) Industry - Global Market Analysis, Competitive Landscape and Planned Projects to 2016, is the latest...

Noble Corporation Awarded Contracts for Two Ultra-Deepwater Drillships; Adds in Excess of $1.3 Billion in Potential Revenue Backlog

2013-04-18 08:24:16

ZUG, Switzerland, April 18, 2013 /PRNewswire/ -- Noble Corporation (NYSE: NE) today announced that the Company has entered into two (2) three-year term drilling contracts with Plains Exploration & Production Company (NYSE:PXP) for the Noble Sam Croft and the Noble Tom Madden, two of Noble's new ultra-deepwater drillships currently under construction at the Hyundai Heavy Industries Co. Ltd. (HHI) shipyard in Ulsan, South Korea. The drillships, which are being constructed on a fixed...

CLB Q1 2013: Deepwater Drives Most Profitable Quarter Ever; All-Time Quarterly Highs For Revenue, Net Income & EPS; Share Count At 15-Year Low

2013-04-17 20:20:34

AMSTERDAM, April 17, 2013 /PRNewswire/ -- For the first quarter of 2013, Core Laboratories N.V. (NYSE: "CLB US" and NYSE Euronext: "CLB NA") posted its most profitable quarter in Company history, with record results driven by worldwide deepwater hydrocarbon developments. The Company reported a year-over-year 12% increase in first quarter net income, when compared to the first quarter of 2012, ex-items, to a record $56,516,000 and record earnings per diluted share ("EPS") of $1.22....