Global players in the oil and gas industry understand one major thing… The political statements and public posturing of governments can directly impact their bottom line. From shipping lanes to supply and demand, every aspect of the market relies on the relationships and trade agreements countries and allies fostered after the 2nd World War. …
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The recent geopolitical events in the Middle East will increase demand for oil rig production from both North and South America. The U.S. surpassed other world producers in December 2018, with Texas producing almost half of the approximately 11.5 million barrels per day. Similarly, while Venezuela traditionally leads South America in production, Brazil has stepped …
US oil and natural gas production are currently experiencing an unprecedented era of growth. This is largely due to the Texas oilfield basins and new developments in the extraction technologies applied. With new extraction methods, the region has doubled its daily production over the last decade. With increases in the world’s demand for oil, higher …
Sucker rods ensure that well production continues long after completions. However, the grade of steel that is used to manufacture a sucker rod is highly prone to corrosion. In fact, about one-half of reported failures were determined to be due to corrosion. Whether pumpers use these rods onshore or offshore, as a core component in …
The Oil Country Tubular Goods (OCTG) industry relies on many market factors, with oil prices not surprisingly being the primary indicator. As the price of crude oil rises or falls, producers cap or commission wells accordingly. A balance between the cost of production and a fair market price keeps OCTG producers on their toes. At …
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API standards and specifications are very important factors that can affect the success of your company operations. This is especially true if your company is engaged in the oil and gas production or drilling industries. As a matter of fact, API specifications refer to criteria for OCTG set by the American Petroleum Institute (API). In …
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It can be mind-boggling the amount of oil that offshore oil rigs produce each month and year. And as it stands, the United States remains the top producer of oil and gas worldwide. Besides, it looks like the U.S. has made history once again in April of 2019. Crude oil production and lease condensate in …
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