Drilling

Canadian natural gas producers and processors are discovering a way to increase supplies and profits without expensive drilling through increased efficiency.

Canadian natural gas producers and processors are discovering a way to increase supplies and profits without expensive drilling through increased efficiency.

A high-ranking Halliburton executive Tuesday said he doesn’t believe drilling in the offshore — both in shallow water and deepwater — can remain at a standstill for long as a result of the Deepwater Horizon rig explosion and oil spill in the Gulf of Mexico (GOM).

Hope that 11 missing crew members from drilling rig Deepwater Horizon would be found had mostly faded by Friday morning although rescuers continued to search. While some feared an environmental catastrophe, oil sheen on the Gulf of Mexico appeared to be from the explosion and not a leaking well, officials said.

Hope that 11 missing crew members from drilling rig Deepwater Horizon would be found had mostly faded by Friday morning although rescuers continued to search. While some feared an environmental catastrophe, oil sheen on the Gulf of Mexico appeared to be from the explosion and not a leaking well, officials said.

ExxonMobil Corp. said it has completed the world’s longest extended-reach well drilled from an existing offshore fixed platform drilling rig, increasing the company’s ability to produce domestic oil and gas from existing facilities at the Santa Ynez unit, offshore Southern California. The well, drilled from the Heritage platform using the producer’s Fast Drill technology, extends more than six miles horizontally and more than 7,000 feet below sea level. According to ExxonMobil, the well will be able to produce an additional 5.8 million boe, an amount equal to the annual energy consumption of more than 144,000 Californians.

ExxonMobil Corp. said it has completed the world’s longest extended-reach well drilled from an existing offshore fixed platform drilling rig, increasing the company’s ability to produce domestic oil and gas from existing facilities at the Santa Ynez unit, offshore Southern California. The well, drilled from the Heritage platform using the producer’s Fast Drill technology, extends more than six miles horizontally and more than 7,000 feet below sea level. According to ExxonMobil, the well will be able to produce an additional 5.8 million boe, an amount equal to the annual energy consumption of more than 144,000 Californians.

Credit Suisse on Monday cut its U.S. natural gas 2010 price forecast by 35 cents to $4.75/Mcf from $5.10 to reflect the recent gains in onshore drilling, which could lead to a year/year (y/y) increase in domestic output.

Credit Suisse on Monday cut its U.S. natural gas 2010 price forecast by 35 cents to $4.75/Mcf from $5.10 to reflect the recent gains in onshore drilling, which could lead to a year/year (y/y) increase in domestic output.