ExxonMobil announced in October it will acquire Pioneer Natural Resources in an all-stock transaction valued at $59.5 billion. The deal will create what Wood Mackenzie is calling the world’s first “megamajor.”
The merger combines Pioneer’s more than 850,000 net acres in the Midland Basin with ExxonMobil’s 570,000 net acres in the Delaware and Midland Basins. Together, the companies will have an estimated 16 billion BOE in the Permian. At close, ExxonMobil’s Permian production volume would more than double to 1.3 million BOED based on 2023 volumes. By 2027, that is expected to grow to 2 million BOED.
Precision Drilling entered into an agreement to acquire CWC Energy Services for approximately $141 million. With the transaction, the company will add 62 marketed service rigs and seven marketed drilling rigs in Canada, along with 11 marketed drilling rigs in the US, including seven AC triple rigs. Three of the Canadian rigs and seven of the US rigs are working.
Precision said in a statement that it expects to realize annual operating synergies of around $20 million. The transaction is expected to be completed in Q4 2023, subject to CWC shareholder approval.
Kenera was awarded a contract to deliver five top drive systems to a Saudi Arabian drilling contractor for newbuild rigs that will operate at a major unconventional gas project in Saudi Arabia.
Designed and manufactured by the company’s rig equipment business, Bentec, the top drives are run with proprietary software and Bentec rigCARE, a digital service platform for remote monitoring and troubleshooting. Commissioning and support will be provided out of the Kenera service center in Dammam.
TWMA has secured a $100 million contract for a major sour gas development in Abu Dhabi. The company will deploy its RotoMill solution alongside its newly launched XLink cloud-based real-time monitoring technology across four artificial island drilling units. To support this project, TWMA plans to double its regional headcount to more than 400 people.
Separately, the company also announced a 10-year contract, including options, with Equinor to process drilling waste using the RotoMill technology.
Under an extended partnership, Horizon56 will digitalize an additional nine rigs within Archer’s operations. This will expand Archer’s implementation of Horizon56’s RigFlow solution from three existing platform rigs to 12.
Intelligent Wellhead Systems (IWS) named Tracy Gray as Director of Strategy & Marketing. She previously served as Global Manager for Strategic Initiatives & Marketing for Halliburton’s Consulting & Project Management service line.
Enteq Technologies, which is in the process of commercializing its SABER tool, appointed David MacNeill to its Board as a non-executive Director. Mr MacNeill’s appointment is expected to bolster Enteq’s Middle East expertise, a key target market for SABER. The technology offers an alternative to traditional rotary steerable systems.
Erwin Wieckowski has been named President and CEO of Bosch Rexroth North and Central America. The role was being performed on an interim basis by Reinhard Schaefer.
ADNOC has announced agreements with 30 companies for the local manufacturing of critical non-oil products, including personal protective equipment and battery energy storage systems, in its supply chain. The company aims to locally manufacture $19 billion worth of products in its procurement pipeline by 2027.
Brazil-based Origem Energia and US-based Datagration are embarking on a three-year commercial agreement to implement AI and machine learning technologies across all of Origem’s producing assets. Datagration’s PetroVisor software-as-a-service platform will allow Origem to integrate engineering, operations, financial and other enterprise data for automated analytics.
Under a pilot program, multi-source production and well test data from 50 wells have already been integrated to provide predictive insights.
Under a new partnership, Ankeri’s Aware mobile application will be integrated into Kongsberg’s marketplace for maritime clients to drive better understanding of vessel performance and sustainability. Aware uses high-frequency data extracted through Kongsberg’s Vessel Insight infrastructure.
Rolls-Royce received Environmental Protection Agency (EPA) certification for its new maximum transmission unit (mtu) Gas PowerPack, a 2.6 MW natural gas-powered mobile power system. It can significantly reduce CO2 emissions while providing continuous duty and 100% capacity power. The system is certified to EPA Tier 2 spark ignition standards for natural gas engines.
The technology features the company’s existing mtu 20V 4000 L64 FNER gas engine. Because of the modularity of the system, hybrid configurations are possible for pressure pumping and drilling.
Not only does the system allow operators to use low-cost natural gas at the drilling site, the powerpack can also run on a blend of natural gas and hydrogen to further reduce emissions.
The new Welltec Expandable Anchor (WEA), a life-of-well completion system for anchoring in cased hole, can deliver four applications: It can be utilized as a liner hanger, tieback liner, inner-string packer and cased-hole plug. It is a machined sleeve that uses a surface-controlled hydraulic expansion process to deliver reliable anchoring, eliminating the risk of the completion being pulled back to surface.
All versions of the product are qualified to the API 19LH V1 standard and are fully compatible with Welltec’s Metal Expandable Packer portfolio.
GD Energy Products (GDEP) is offering a new 360 Inspection program for power ends in fracking applications. The program takes a proactive approach to uncover underlying pump issues using advanced field-service analysis and then performing the necessary repairs in the field. This can help to eliminate paperwork and scheduling difficulties.
Ikon Science’s new RokDoc 2023.4 includes a new resistivity-based pore pressure prediction method, as well as enhanced AVO modeling tools and optimized data analysis capabilities.
The redesigned Blocky AVO modeler offers geoscientists new multi-well scenario and uncertainty analysis capabilities. This allows for the exploration of formation boundary behavior across multiple wells with integrated depth trend analysis sessions. Further, the tool has incorporated resistivity data, temperature, salinity and clay fraction for more precise pore pressure prediction in shale formations.
The model works in both pre-drill forecasting and real-time monitoring scenarios, integrating with WITSML live depth data.
Halliburton recently introduced its new FlexRite Selective Access multilateral completion system to address more complex and demanding well scenarios. By combining stimulation capability with through-completion selective intervention, the technology delivers versatility to multilateral completions.
The company also recently launched its PulseStar automated mud-pulse telemetry service. The technology uses AI to provide self-optimizing pulses to maintain data quality across the reservoir.
Drilling Systems launched the DrillSIM Downhole model to support realistic training for geothermal applications. The model enhances the research and development capabilities of new and existing DrillSIM simulators to allow users to practice complex operations, such as directional drilling, kick tracking and stuck pipe.
Key features for the model include additional real-world data modeling, an advanced thermal and dynamic design, drill string vibration, a complex 3D well path, and increased focus on the transport of cuttings commonly found in deep drilling operations.
The model has been implemented at the Drilling Simulator Celle, a part of Germany’s Clausthal University of Technology.
Helly Hansen Workwear recently launched new products to help field personnel work more comfortably in cold and wet weather. This includes the Manchester 2.0 Shell Jacket and Shell Pant, and the Manchester 2.0 Fleece Jacket and Fleece Vest. Several products were also launched targeting the female workforce: the Hi Vis CSA workwear, the Alta winter jacket, softshell jacket and winter bib CSA.