Petroleum geology

Robotic Drilling Equipment Market to Reach $1.01 Bn, Globally, by 2027 at 8.4 % CAGR: Allied Market Research

Wednesday, May 12, 2021 - 2:15pm

b'Increase in adoption of automation in the oil & gas industry and rise in drilling activities due to the development of unconventional hydrocarbon resourcesdrive the growth of the global robotic drilling equipment market.

Key Points: 
  • b'Increase in adoption of automation in the oil & gas industry and rise in drilling activities due to the development of unconventional hydrocarbon resourcesdrive the growth of the global robotic drilling equipment market.
  • According to the report, the global Robotic drilling equipment industry generated $804 million in 2019, and is expected to garner $1.01 billion by 2027, witnessing a CAGR of 8.4% from 2020 to 2027.\nIncrease in adoption of automation in the oil & gas industry and rise in drilling activities due to the development of unconventional hydrocarbon resourcesdrive the growth of the global robotic drilling equipment market.
  • However, interoperability of rig control systems used in robotic drilling and issues related to cyber security for automated systems restrain the market growth.
  • On the other hand, the gas segment is expected to witness the highest CAGR of 9.3% from 2020 to 2027.

Kodiak Provides Update on Drill Program at MPD Copper-Gold Porphyry Project in Southern British Columbia

Tuesday, May 11, 2021 - 12:30pm

The program is currently operating with one drill rig, with plans to add a second rig in Q2.\nCore samples are being shipped to ALS Canada Ltd. in North Vancouver, British Columbia for preparation and final analysis.

Key Points: 
  • The program is currently operating with one drill rig, with plans to add a second rig in Q2.\nCore samples are being shipped to ALS Canada Ltd. in North Vancouver, British Columbia for preparation and final analysis.
  • We are pleased with the progress of the program to date and are looking forward to new results from expanded drilling at the Gate Zone.
  • The pace of our drill program will accelerate as the year progresses with the addition of further drills and the testing of other target areas such as Dillard.
  • Kodiak also holds the Mohave copper-molybdenum-silver porphyry project in Arizona, USA, near the world-class Bagdad mine.

EQS-News: Terraoil Announces Continuation of Drilling Operations on Visoka Block

Tuesday, May 11, 2021 - 7:01am

b'Zug, Switzerland, May 11, 2021 - Terraoil Swiss AG, an E&P company with a strong focus on the Mediterranean, today announced the commencement of drilling operations on the Visoka block, onshore Albania.

Key Points: 
  • b'Zug, Switzerland, May 11, 2021 - Terraoil Swiss AG, an E&P company with a strong focus on the Mediterranean, today announced the commencement of drilling operations on the Visoka block, onshore Albania.
  • The Company drilled the first well to a target depth of 1265 meters and is conducting initial production tests.
  • At the same time, we continue to work on the recovery of production levels, while simultaneously assessing new drilling plans and the maintenance and enhancement programs for existing wells.
  • We believe such a healthy recovery will propel our operational activities beyond pre-pandemic levels during the next two to three years.

QcX Gold Secures Diamond Drill Rig for Inaugural Drill Program at Golden Giant, James Bay

Tuesday, May 4, 2021 - 11:30am

b'Montreal, Quebec--(Newsfile Corp. - May 4, 2021) - QcX Gold Corp. (TSXV: QCX) (OTCQB: QCXGF) (FSE: 21MA) ("QcX" or the "Company") is pleased to announce that it has secured a diamond drill rig for its upcoming inaugural drill program on the Golden Giant Project in James Bay, Qu\xc3\xa9bec.

Key Points: 
  • b'Montreal, Quebec--(Newsfile Corp. - May 4, 2021) - QcX Gold Corp. (TSXV: QCX) (OTCQB: QCXGF) (FSE: 21MA) ("QcX" or the "Company") is pleased to announce that it has secured a diamond drill rig for its upcoming inaugural drill program on the Golden Giant Project in James Bay, Qu\xc3\xa9bec.
  • Drill hole planning is in the final review stage after compiling information from two geophysical surveys as well as surface exploration data.
  • The QcX team is very excited to see the rig mobilize to site and begin drilling in areas that have previously never seen a drill hole.
  • The Golden Giant Project is located in the James Bay region of Qu\xc3\xa9bec, only 2.9 km away from Azimut Exploration Inc.\'s Patwon discovery on their Elmer gold project.

Suncor Energy reports first quarter 2021 results

Tuesday, May 4, 2021 - 12:27am

Funds from operations included a first-in, first-out (FIFO) inventory valuation gain of $373 million after-tax in the first quarter of 2021, compared to a FIFO inventory valuation loss of $446 million after-tax in the prior year quarter.

Key Points: 
  • Funds from operations included a first-in, first-out (FIFO) inventory valuation gain of $373 million after-tax in the first quarter of 2021, compared to a FIFO inventory valuation loss of $446 million after-tax in the prior year quarter.
  • The Syncrude and Oil Sands operations upgraders achieved combined upgrader utilization of 97% in the first quarter of 2021, compared to 93% in the prior year quarter, despite coker annual planned maintenance at Oil Sands Base that commenced late in the first quarter of 2021 and was completed subsequent to the end of the quarter.
  • Operating, selling and general expenses in the first quarter of 2021 included share-based compensation expense, compared to a share-based compensation recovery in the prior year quarter.
  • As demonstrated this quarter, the company continues to execute on its previously announced 2021 commitment of allocating incremental free funds flow towards debt and share buybacks.

HWCG Selects Integrity Management & Response (IMR) as a Core Contractor

Monday, May 3, 2021 - 5:57pm

Approximately half of IMR\xe2\x80\x99s qualified responders are available within 1-hr for the Operating Member\xe2\x80\x99s response.

Key Points: 
  • Approximately half of IMR\xe2\x80\x99s qualified responders are available within 1-hr for the Operating Member\xe2\x80\x99s response.
  • This agreement enhances our Members response capability by providing access to a consistent team of qualified and experienced deepwater source control responders who are knowledgeable in well integrity, subsurface and subsea aspects of a response.
  • IMR is uniquely positioned as the only company providing a combination of source control expertise as well as a 24/7 dedicated state-of-the-art source control Emergency Operations Center.
  • HWCG is a not-for-profit consortium of deepwater oil and gas companies that maintains a comprehensive deepwater well containment response model that can be activated immediately in the event of a U.S. Gulf of Mexico subsea blowout.

Antler Gold Drills Multiple Shallow Intercepts of Gold, Silver and Copper on Central Erongo Project, Central Namibia and Provides Exploration Update

Monday, May 3, 2021 - 4:20pm

The objective of the program was to delineate drill targets at depth along strike of the historically defined 1.5 kilometres Hakskeen skarniferous zone.

Key Points: 
  • The objective of the program was to delineate drill targets at depth along strike of the historically defined 1.5 kilometres Hakskeen skarniferous zone.
  • The historical gold-in-soil anomaly is spatially coincident with this IP anomaly and the shallow (30 metres deep) historical RC drilling intersected narrow anomalous gold zones.
  • The interpretation of soil sampling results at W3 show gold results to be highly variable with limited gold-in-soil anomalies being identified.
  • Antler is currently focusing its efforts on advancing its Erongo Gold Project, which is located approximately 130 kilometres north-west of Namibia\'s capital city Windhoek.

Kerui Petroleum & Gas Delivered the Drilling Rig for Geothermal Project in Ethiopia Successfully

Friday, April 30, 2021 - 4:10am

b"Recently, the second set of 1500hp geothermal drilling rig independently developed and manufactured by Shandong Kerui Petroleum & Gas Equipment Co., Ltd. was successfully delivered to Aruto Langano geothermal power station in central Ethiopia.

Key Points: 
  • b"Recently, the second set of 1500hp geothermal drilling rig independently developed and manufactured by Shandong Kerui Petroleum & Gas Equipment Co., Ltd. was successfully delivered to Aruto Langano geothermal power station in central Ethiopia.
  • As the first 50D mating drilling rig and first geothermal energy development project of Ethiopia Electric Power (as \xe2\x80\x9cEEP\xe2\x80\x9d), it is the largest investment in geothermal energy sector, and also a national project with great strategic significance supported by World Bank.\nIn this project, Kerui Petroleum & Gas provides two sets of 1500hp geothermal drilling rigs, drilling services, personnel training and related technology transfer and other one-stop comprehensive solutions to Ethiopia Electric Power company for the exploitation of 22 geothermal wells in Aluto Langano.
  • The two sets of geothermal drilling rig delivered by this company are independently developed by itself.
  • It can meet the drilling requirements of petroleum, natural gas and geothermal resources, and adapt to the technological requirements of mud drilling, air drilling and foam drilling, and is equipped with logging, cementing, orientation, gas testing and other equipment.\nFacing the severe epidemic situation in the world, Shandong Kerui Petroleum & Gas Equipment Co., Ltd. has successfully completed the commissioning and lifting of two sets of drilling equipment currently, and will officially start drilling soon.\nKerui Petroleum & Gas is an international comprehensive industrial group providing high-end oil equipment, oil and gas field technical services and EPC engineering services to the global oil and gas industry.

Analyzing COVID-19 Impact on Offshore Drilling Market | $ 7.04 Bn Growth Expected Between 2021-2025 | Technavio

Friday, April 30, 2021 - 4:00am

However, fluctuations in the price of crude oil might hamper the market growth.\nBased on the application, the market witnessed maximum growth in the shallow water offshore drilling segment.

Key Points: 
  • However, fluctuations in the price of crude oil might hamper the market growth.\nBased on the application, the market witnessed maximum growth in the shallow water offshore drilling segment.
  • The market growth in the segment will be significant during the forecast period.\nBy geography, APAC is going to have lucrative growth during the forecast period.
  • Therising number of offshore drilling projects will be crucial in driving the growth of the offshore drilling market in APAC.\nBuy 1 Technavio report and get the second for 50% off.
  • Buy 2 Technavio reports and get the third for free.\nRelated Reports on Energy Include:\nGlobalOffshore Drilling Rigs Market- Global offshore drilling rigs market is segmented bytype (Bottom-supported rigs and Floating rigs) and geography (APAC, MEA, North America, Europe, and South America).\n"

Aguila American Gold Announces WUSA Drilling Results and Updates Exploration Program

Thursday, April 29, 2021 - 11:00am

b'Vancouver, British Columbia--(Newsfile Corp. - April 29, 2021) - Aguila American Gold Limited (TSXV: AGL) (OTCQB: AGLAF) (WKN: A2DR6E) ("Aguila" or the "Company") is pleased to announce results from the early winter drilling program completed at the Company\'s WUSA Gold Project in Oregon, USA.

Key Points: 
  • b'Vancouver, British Columbia--(Newsfile Corp. - April 29, 2021) - Aguila American Gold Limited (TSXV: AGL) (OTCQB: AGLAF) (WKN: A2DR6E) ("Aguila" or the "Company") is pleased to announce results from the early winter drilling program completed at the Company\'s WUSA Gold Project in Oregon, USA.
  • Prior to this program, we were aware of only one exploration drill hole within 18km, and have now discovered gold in multiple drill holes over 1.8km of strike.
  • Placer gold mining is still undertaken within the WUSA exploration area.\nA diamond drill rig from American Drilling Corp of Spokane, Washington was used for the drill program.
  • Certified standards of known gold content were inserted into the sample flow by Aguila at industry standard frequency.