Industry News

Sinopec’s Tiebei 1HF well at its Project Deep Earth Sichuan and Chongqing Natural Gas Base has been tested at a high daily output of 314,500 cu m of industrial gas flow with the vertical depth of the well reaching over 5,300 m with a 1,312-m horizontal section, setting a new record for vertical depth of shale gas wells in China.Most of the resources in the Puguang Upper Permian are distributed in the ultra-deep field with a burial depth of over 4,500 m, which is regarded as a “forbidden zone” because of the rapid changes in the velocity of the strata.

Valaris released its April 2025 fleet stats report, which includes new contracts and contract extensions for many of its vessels.First, there are the extensions of existing bareboat charter (BBC) agreements through the end of April 2025, or completion of well in progress, for four jackups – VALARIS 116, 140, 146 and 250 – that are leased to ARO Drilling to undertake drilling contracts offshore Saudi Arabia. Those four plus VALARIS 141 are leased to ARO to undertake drilling contracts offshore Saudi Arabia.The BBC extensions for VALARIS 116, 140, 146 and 250 are effective from May 2025, and for VALARIS 141

Trendsetter Engineering made its first deployment of its flagship Trident 20K Intervention System in the Gulf of Mexico. Trident 20K was deployed from the Deepwater Atlas for a two-well flowback operation at Beacon’s Shenandoah project.Trendsetter wet-hopped the Trident 20K system between wells, significantly reducing operational costs and saving the client several days of critical path rig time. The system has since returned to Trendsetter for post-campaign maintenance so that it will be in a ready-to-deploy state for future operations.When Trendsetter introduced its Trident 15K Intervention System in 2020, it was the first step towards a larger goal: the development and

BKV Corporation and Comstock Resources announced an exclusive, non-binding agreement for BKV to develop carbon capture, utilization and sequestration (CCUS) projects at two of Comstock’s natural gas processing facilities in its Western Haynesville operating area.As part of the agreement, the companies plan to develop CCUS injection wells to permanently sequester carbon dioxide waste produced at Comstock’s Bethel and Marquez natural gas processing and production facilities in Texas, as well as other locations. The terms of the prospective projects are subject to further negotiation and execution of one or more definitive agreements.The agreement seeks to combine BKV’s proven and innovative CCUS

BW Energy made a final investment decision (FID) for the Maromba development offshore Brazil based on a capex-efficient development with an integrated drilling and wellhead platform (WHP) and a refurbished FPSO. The development targets 500 million barrels of oil in place in the highly delineated and tested Maastrichtian sands. First oil is planned by end-2027 with expected plateau production of 60,000 barrels of oil per day.The development comprises six initial Maastrichtian horizontal production wells with dry-trees and artificial lift by downhole Electric Submersible Pumps (ESPs). Production will be transferred from the WHP to the spread moored FPSO Maromba for treatment,

Zion Oil & Gas announced that initial flowback operations from its Megiddo-Jezreel #1 (MJ-01) well re-entry have resulted in gas reaching the surface onshore in Israel.Perforation and stimulation operations were successfully completed, with gas observed at surface during early flowback. The well is currently in the stimulation fluid recovery and cleaning phase. Zion is sourcing additional equipment for that to continue flowback testing and conduct volumetric analysis to evaluate reservoir characteristics. These efforts are part of Zion’s ongoing plan to assess the well’s production potential.（2025-05-05）

Shell completed the previously announced agreement to increase their stake in the Ursa platform in the US Gulf of Mexico from 45.3884% to 61.3484%. This acquisition is part of Shell’s strategy to invest in profitable and carbon-competitive oil and gas projects with a strong integrated value chain.Deepening Shell’s interest in existing assets also contributes to maintaining stable liquids production from its upstream business. Shell is the operator of Ursa Tension-Leg Platform and holds a 61.3484% working interest ownership in the asset with BP Exploration & Production (22.6916% WI) and ECP GOM III (15.96%).（2025-05-01）

Subsea was awarded an engineering, procurement, construction and installation (EPCI) contract by bp to Subsea Integration Alliance (SIA) for the Ginger project offshore Trinidad and Tobago. The award falls under the new global framework agreement between BP and Subsea Integration Alliance partners SLB OneSubsea and Subsea7.Subsea7 will supply a diver-installed tie-in system, a flexible production flowline, and associated infrastructure. SLB OneSubsea will deliver four standardized vertical monobore subsea trees and tubing hangers, optimized for speed of delivery and installation. It will also deliver the first high-integrity pressure protection system (HIPPS) manifold in the region, which will unlock considerable safety, efficiency