Oil and gas companies track and incentivize a variety of metrics, but these actions can inadvertently lead to lower production levels and affect lifting costs.If there’s an incentive for fast drilling instead of precisely placed wellbores that maximize contact with sweet spots…
Oilfield services company Weatherford International announced on Thursday that Christoph Bausch will step down as Executive Vice President and Chief Financial Officer effective November 14, 2019 to pursue other opportunities. He will remain with the Company through November 30…
Oilfield services firm Weatherford has introduced ForeSite Flow, a flow-measurement solution driven by Production 4.0 intelligence.Unveiled this week at ADIPEC 2019, ForeSite Flow is a full-range, non-nuclear multiphase flowmeter paired with Weatherford ForeSite intelligence…
An Automated Well Control system has been field trialed on a land rig in Aberdeen, a world first, according to the technology's developer Safe Influx.With funding support from Oil and Gas Technology Center (OGTC), the “drilling module” was implemented…
As the oil and gas industry increasingly automates functions, one service company has focused on changing the focus from dumb iron to the cloud.Weatherford’s vision is to take its range of production tools and technologies to the next level by bringing them together with the basics of Industry 4…
Oilfield services company Weatherford International announced it has secured a contract with Brazilian-based multinational corporation Petróleo Brasileiro S.A., more commonly known as Petrobras, to deliver 24 Optimax deep-set safety valves in the next four years…
Oilfield services provider Weatherford said it has signed a $220 million, three-year contract with the Abu Dhabi Company for Offshore Petroleum Operations Limited (ADNOC Offshore' to provide directional drilling services for the stated goal…
Oilfield services company Weatherford announced it has secured an $87 million contract for fishing and intervention services with Brazilian-based multinational corporation Petróleo Brasileiro S.A., more commonly known as Petrobras.Weatherford…
The multinational oil and natural gas service company Weatherford International announced it has signed an $80 million liner-hanger frame agreement with Norwegian oil and gas company Equinor.The four-year deal represents the largest liner-hanger frame agreement ever signed by Weatherford…
Oilfield services company Weatherford said it has integrated Microsoft's Power BI business analytics service into its ForeSite production optimization platform, in a move to enable customized, asset-level operational insight.The Power BI features…
Oilfield services firm Weatherford International on Friday filed a prepackaged restructuring plan with the U.S. Securities and Exchange Commission, according to a regulatory filing.The company, which has struggled under a heavy debt burden and years of losses…
Two service companies known for point-the-bit rotary steerable systems (RSS) each decided in 2016 to create their own push-the-bit tools. Their offerings are aimed at increased tool reliability, utilization, smoother wellbores and higher levels of drilling performance consistency from well to well…
Equinor said it has awarded a group of drilling service contracts worth about NOK 2.5 billion ($286 million), exclusive of options, to several suppliers.The services will be delivered to both new and existing fields on the Norwegian continental shelf (NCS)…
Irish-domiciled multinational oil and natural gas service company Weatherford International has entered into an agreement with its top creditors that will allow the company to file for a 'prepackaged' Chapter 11 bankruptcy - after more than four years without making a profit…
The Irish-domiciled multinational oil and natural gas service company Weatherford International plc unveiled Victus intelligent managed pressure drilling (MPD), an Industry 4.0 solution that features intelligent control, equipment automation…