World

Despite fierce competition, Gulfport Energy Corp. CEO Jim Palm said his company has managed to acquire additional acreage in the Utica Shale as it looks to determine type curves, well spacing and how long it should wait before bringing new wells into production.

The No. 1 oilfield services provider in the world, Schlumberger Ltd., on Friday said growth in the deepwater, as well as activity outside of North America, provided a big lift in 3Q2012. However, competitor Baker Hughes Inc., the industry’s third-largest provider, said the slump in U.S. natural gas activity weighed heavily on its quarterly profits.

Houston’s Diamond Offshore Drilling Inc., one of the top offshore rig contractors in the world, last week reported better-than-expected quarterly earnings from lower operating costs. Competitor Noble Corp. issued a mixed report, but CEO David Williams said the fundamentals for the offshore industry remain strong.

The No. 1 oilfield services provider in the world, Schlumberger Ltd., on Friday said growth in the deepwater, as well as activity outside of North America, provided a big lift in 3Q2012. However, competitor Baker Hughes Inc., the industry’s third-largest provider, said the slump in U.S. natural gas activity weighed heavily on its quarterly profits.

Houston’s Diamond Offshore Drilling Inc., one of the top offshore rig contractors in the world, on Thursday reported better-than-expected quarterly earnings from lower operating costs. Competitor Noble Corp. reported a mixed profit report, but CEO David Williams said the fundamentals for the offshore industry remain strong.

A subsidiary of Royal Dutch Shell plc has offered to pay localities millions for lost tax revenue affected by its proposed “world-scale” ethane cracker.

Market conditions and technology are on target for U.S. natural gas to compete in world markets, and industry watchers are placing their bets on which natural gas export proposals will actually be built and whether the first liquefied natural gas (LNG) exports will leave U.S. shores by 2015 or 2016.

Market conditions and technology are on target for U.S. natural gas to compete in world markets, and industry watchers are placing their bets on which natural gas export proposals will actually be built and whether the first liquefied natural gas (LNG) exports will leave U.S. shores by 2015 or 2016.

Upstream exploration and production (E&P) spending in North America is leading the world for the seventh consecutive year, according to a report by GlobalData.