GLG News by Oil and Gas Well Drilling Experts

James McCaul, of the International Maritime Associates reported in the May 5 issue of the Oil & Gas Journal that 212 floating production systems (FPSO) are operating today, located in offshore oil fields in West Africa, Northern Europe, the U.S. Gulf Coast, Brazil, Southeast Asia, China, Australia...

Judy Dempsey in Berlin reported in the May 7 issue of the International Herald Tribune that the Nord Stream pipeline project faces so much opposition that after three years, not a single construction permit has been granted. The European Parliament’s Committee on Petitions is worried about environmental...

Rebekah Kebede in New York reported in the International Herald Tribune issue of May 2 that the U.S. energy sector is short of workers. Even high pay fails to attract new talent. This has slowed drilling and refining projects. Industry observers say the shortage could last because young people avoid...

Jad Mouawad in New York reported in the International Herald Tribune on May 2 that Exxon Mobil (XOM) reported net income rose 17% in the first quarter of 2008. High oil prices played a part. Even as earnings rose, investors were disappointed. Shares of the company’ stock fell 5%. Record oil prices mask...

The Oil & Gas Journal reported in its April 28 issue that Pioneer Natural Resources estimates 1 billion barrels of oil equivalent (boe) of net resource potential exists in their Spraberry Trend properties in West Texas. This is in addition to the 481 million boe of proved reserves at 12/31/2007....

Judy Dempsey in Berlin reported in the April 29 issue of the International Herald Tribune that Gazprom offered Romano Prodi the job of running the South Stream Pipeline that transit’s the Black Sea. The departing Italian prime minister plans to reject the offer. Alexei Miller, Gazprom CEO made the offer...

Oilvoice News reported on the Occidental Petroleum Corporation press release of April 25. Dr. Ray R. Irani announced that the first quarter of 2008 set a new company record. The company earned $1.846 billion compared with $1.212 in the same period of 2007, the most successful year in the history of...

In the April 21 issue of the Oil & Gas Journal, a report titled “World Offshore Drilling Spend Forecast 2008-12” was reviewed. Prepared by Douglas-Westwood Ltd and Energyfiles and released April 14, the forecast predicts that offshore drilling will amount to $380 billion during the next five years....

Oilvoice News reported that Halliburton announced on April 20, the award of a three year contract with Saudi Aramco to redevelop the offshore portion of Manifa field in the northern Persian Gulf. Halliburton will provide directional drilling services, logging-while-drilling, cementation, electric logging,...

Jad Mouawad reported in the April 29 issue of the International Herald Tribune that even with crude oil prices near $120/bbl, energy experts worry that production will continue to falter. The main reason is that non-OPEC producers are showing signs of sluggishness. Russia, Mexico and Norway are failing...