Halliburton, Baker Hughes Beat Profit Estimates as International Demand Offsets Weak N. America
Halliburton Co and Baker Hughes beat analysts' estimates for second-quarter profit on Wednesday on the back of strong demand for oilfield services internationally, even as domestic activity stumbled. While oilfield drilling has seen a resurgence abroad, particularly in regions like the Middle East and Latin America, since Russia's invasion of Ukraine, weaker oil and gas prices have forced U.S. shale producers to cut oil rigs. "Growing economic uncertainty continues to drive commodity price volatility globally... Market softness in North America is expected to be more than offset
A Seismic Shift
, signed an agreement with the Norwegian low-carbon tech company Horisont Energi to jointly work on the identification and classification of CO2 storage reservoirs and develop new Carbon Capture and Storage (CCS) technologies.A few days later, TGS announced a collaboration with oilfield services giant Halliburton to bring advanced seismic imaging to fiber optic sensing to help oil firms boost output rates, but also explore carbon storage options, such as carbon storage monitoring, in another proof that the whole oil industry has taken note of the blowing energy transition winds.Talking about winds, TGS
OTC & Offshore Innovation: From Sarajevo with L(ament)ove
of casing strings.Proven by testing, the Badger connector has the highest capacities, the lowest stress-amplification factor, and longest fatigue life in the industry. It features an innovative metal-to-metal, gas-tight seal to ensure reliable, environmentally responsible performance, Dril-Quip says.Halliburton and TechnipFMC, producer of Odassea Subsea Fiber Optic SolutionImage courtesy HalliburtonThe Odassea Subsea Fiber Optic Solution integrates hardware and digital systems to strengthen capabilities in offshore reservoir monitoring and production optimization. Halliburton provides the fiber optic
'Pioneering' Deep Sea Mineral Exploration Mission Complete Off Norway
a first for this type of expedition, the drilling operations were conducted with coiled tubing, a continuous drill string coiled on a reel. Pioneers"This is the first time this technology has been used to drill in water depths of more than 3000 meters. In addition to TIOS, Island Offshore, Halliburton and Oceaneering have been instrumental in implementing the project," NPD said."This is a true pioneer expedition," says exploration director Torgeir Stordal in the NPD. “This is the first time coiled tubing technology has been used in such deep waters, and the first time such
Halliburton, TechnipFMC Launch Acoustic Sensing Solution for Subsea Wells
Oilfield services giants Halliburton and TechnipFMC have jointly introduced Odassea, described as the first distributed acoustic sensing solution for subsea wells. The technology platform enables operators to execute intervention-less seismic imaging and reservoir diagnostics to reduce the total cost of ownership while improving reservoir knowledge, the companies said in a joint statement on Thursday."The Odassea service integrates hardware and digital systems to strengthen digital capabilities in subsea reservoir monitoring and production optimization," the statement reads.Halliburton
Saipem/Subsea 7 Merger Would Create Subsea Giant
, one of the world’s biggest crane vessels and numerous offshore fabrication yards.”Saipem and Subsea 7 have reportedly been in merger talks in previous years, though an agreement was ever reached.Such a merger would create the fourth-largest oilfield service company, after Schlumberger, Halliburton and Baker Hughes
Oil and Gas Industry Adopts VR
a wide range of emergency situations that employees could potentially face in real-life while working onsite with heavy machinery, thus ensuring they are ready to deal with any unforeseen event.”GlobalData identifies Baker Hughes, BP, Chevron, ConocoPhillips, Equinor, ExxonMobil, Gazprom, Halliburton, Shell, Saudi Aramco and Sinopec as among the leading adopters of VR technology in oil and gas operations.The oil and gas industry faces a unique challenge as many of its facilities are in remote locations around the world. Inaccessible terrains and harsh weather conditions compel companies to
C-Innovation to Perform RLWI for BP
to begin as early as July 2019 and will be performed in water depths of up to 6,500 feet on different assets within the Gulf of Mexico.C-I noted it will utilize Wild Well’s 7Series Subsea Well Intervention System, a hydraulic stimulation kit from Caltex Oil Tools as well as the full suite of Halliburton’s numerous wireline, E-Line, coil tubing and pumping units.David Sheetz, C-I Subsea Manager, said, “This well intervention award from BP is a continuation of other subsea intervention work C-I is performing as the main contract holder. This contract compliments the multi-year IMR agreement
Baraldi Joins C-Kore Systems
C-Kore Systems announced it has hired Diego Baraldi to represent the subsea testing tools manufacturer as Sales Manager – South America.Baraldi has more than 15 years of experience in the offshore oil and gas sector, starting his career with Halliburton as Field Engineer and then working for Lupatech as Business Development Manager. For the past six years he has worked for Fugro in Brazil, starting as the Service Line Manager, before moving to Business Development Manager.“The principles of [C-Kore’s] cost-saving tools fit extremely well with the wishes of the South American market
February 2024
