GLG News by Oil and Gas Well Drilling Experts

Rigzone Newsletter reported on November 7 that Baker Hughes INTEQ Division had introduced a new high speed telemetric service. The technology can be applied to mud pulse or wired pipe operations. The service, trade named aXcelerate, will be a game changer according to Paul Butero, president of INTEQ....

The Rig Zone Newsletter reported November 5 on the Pioneer Natural Resources results for the third quarter. The company lost $0.03/share including noncash charges of $112 million. Excluding these, earnings were $0.91/share. The quarter was impacted by the loss of 3,000 bbl/day related to Hurricanes...

Stephen Castle in Brussels reported in the November 5 issue of the International Herald Tribune that European Union (EU) governments lowered expectations for a meeting to address financial reform worldwide. The meeting of November 15 by representatives of the world’s largest economies will be only the...

Andrew E. Kramer in Moscow reported in the October 31 issue of the International Herald Tribune that the global financial crisis had reached Russia. Central bank reserves plummeted from $600 billion on August 8 to $484 billion today. With oil prices falling rapidly, Russia has used up reserves faster...

Julia Werdiger in London reported in the October 30 issue of the International Herald Tribune that energy companies must continue to invest during the downturn. That was the message of Total’s CEO Christophe de Margerie at the Oil & Money 2008 conference in London. He said that supply would remain...

Jad Mouawad in New York and Julia Werdigier in London reported in the October 31 issue of the International Herald Tribune that Exxon Mobil (XOM) and Royal Dutch Shell (RDS) earned higher-than-expected profits for the third quarter of 2008.Xom posted profits of $14.8 billion while RDS turned in $8.45...

Nelson D. Schwartz and Jad Mouawad reported in the October 25-26 issue of the International Herald Tribune that OPEC announced in a brief emergency on Friday that it would reduce production by 1.5 million bbl/day. The deepest cut since 2003 failed to provide price support as the price of light sweet...

Senior Staff Writer Paula Dittrick reported in the October 20 issue of the Oil & Gas Journal that oil shale deposits in the U.S. could be the most practical option to add large volumes of proved reserves. It may take 10-15 years for research scientists to determine if a development investment would...

Andrew E. Kramer in Moscow reported in the October 23 issue of the International Herald Tribune that OPEC’s Secretary General Abdullah al-Badri has held meetings with President Dmitri Medvedev to discuss possible cooperation in crude oil production cuts. On Russian television, Medvedev told al-Badri...

On October 17, the Oilvoice Newsletter reported a speech by Andy Inglis, Chief Executive of BP Exploration & Production at Rice University in Houston, where BP has established partnership arrangement. Inglis did not refer to retiring baby boomers. Changing the guard means plugging the capability...