Abraj Energy Services’ Post

"Unlock the full potential of your oil and gas operations with expert drilling consultancy services. Our team of industry professionals provides tailored solutions to optimize well planning, enhance drilling efficiency, and reduce operational risks. From project design to execution, we ensure seamless coordination and maximize performance to deliver cost-effective results. Trust our proven expertise to help you achieve your production goals safely and sustainably. #DrillingConsultancy #OilAndGasServices #WellOptimization #EnergySolutions #OperationalExcellence #EfficientDrilling #OilfieldServices #EnergyIndustry #SafetyAndSustainability #EngineeringExcellence #ResourceManagement #UpstreamEnergy #ExpertConsultants"

Today we announced our operational update in respect of the quarter ended 31 March 2024. This update is being issued in advance of the release of Nostrum’s unaudited interim condensed consolidated accounts for the same period. Arfan Khan, Chief Executive Officer of Nostrum Oil & Gas PLC, commented: “Nostrum’s Q1 highlights demonstrate the positive results of the strategic initiatives taken by the management, which are reflected in increased revenues, production and sales volumes. We continued our appraisal of the Stepnoy Leopard fields as well as the limited-scale drilling programme at our Chinarevskoye field. In our midstream activities, the processing of Ural Oil & Gas (“Ural O&G”) raw gas is ongoing. Ural O&G plan to connect additional four wells during H2 2024 with an estimated 1.5mn m3 of raw gas per day from these four wells, as per the guidance provided by Ural O&G. Moving forward we will continue to execute the strategic catalysts and priorities with razor-sharp focus on controlling costs, maintaining operational liquidity, and judicious allocation of capital to progress value-accreting growth opportunities across our upstream and midstream portfolios.”

Tamboran Resources Corporation (OTC:TBNRF, ASX:TBN) has increased its working interest in the proposed Shenandoah South Pilot Project in the Beetaloo sub-basin of Australia's Northern Territory to a minimum of 47.5%. This follows a decision by Falcon Oil & Gas Australia Limited to limit its participation to 5% in the Beetaloo Joint Ventures’ second Shenandoah South well pad (SS2) and the two wells in the 2024 drilling program. The two 2024 wells will create two Drilling Spacing Units (DSUs) totalling 51,200 gross acres around the new SS2 well pad, where Tamboran and Daly Waters Energy, LP (DWE) as 50/50% owners of Tamboran (B2) Pty Limited have agreed to pick up the non-consent, increasing interest to 95%. More at #Proactive #ProactiveInvestors #OTC #ASX #TBNRF #TBN #Energy #OilandGas http://ow.ly/pfS6105ngT3

Watch how Birlasoft’s all-in-one cutting-edge solution for integrated planning, drilling, production operations management can help Oil and Gas companies completely revamp oil well operations, enhance productivity, and improve all-around performance. Learn more here: https://buff.ly/3Mc826h #OilandGas #BusinessTransformation #ITOT #RemoteMonitoring

Namibia welcomes the International Association of Drilling Contractors Conference, fostering collaboration and innovation in the oil & gas sector. Key speakers include TotalEnergies and industry experts, offering insights on the market outlook and societal benefits. #NamibiaConference #OilandGasDrilling #GlobalIndustryInsights #InnovationInEnergy #DrillingContractors #IndustryLeaders #MarketOutlook #SustainableEnergy #CollaborationInEnergy #NamibiaEvents

Watch how Birlasoft’s all-in-one cutting-edge solution for integrated planning, drilling, production operations management can help Oil and Gas companies completely revamp oil well operations, enhance productivity, and improve all-around performance. Learn more here: https://bit.ly/41NET8w #OilandGas #BusinessTransformation #ITOT #RemoteMonitoring

Over a year ago, Ovintiv picked up EnCap Investments L.L.C's Piedra Resources, LLC, PetroLegacy Energy, and Black Swan Oil & Gas, LLC., Using $30K per flowing BOE, we attributed $2.25BN to PDP. On the $4BN deal, this left $1.75BN for drilling locations. We measured 548 drilling locations and estimated a 90% working interest off our gross acreage. This left us with 493 estimated net locations (versus 1,050 company) at $3.55MM/location, which did not credit benefit for the DUCs, especially on the western acreage. At least Ovintiv came away with a large number of absolute locations. Based on our rough sketch of the deal, this looked like another rich per-location price. However, we had no reason to think these prices would start to come down. Inventory is the most important asset, and everyone needs more runway. Using the larger well set associated with the Martin acreage, we applied a 2-mile lateral type curve of 400 MBO and 1.1 BCF. On a half-cycle, pretax basis using $825 of capex per lateral foot and $80 oil and $4 gas, we got a modest 41% pre-tax IRR. This deal reinforced the scarcity of inventory and the marginal cost of swing production, over a year ago. Now, we have to swallow this benchmark as a pre ExxonMobil / Pioneer Natural Resources Company transaction value measurement.

Kuwait signs Nine Contracts to provide Drilling Rigs for Heavy Oil operations   Kuwait Oil Company (KOC) announced in a statement that within the framework of further enhancing its oil production, KOC signed nine contracts with five local companies to provide drilling rigs for heavy oil production operations in NK fields. Read More: https://lnkd.in/g79nvGnW 🔽 Find more info in comments below 🔽 #KuwaitOilCompany #DrillingRig #OffshoreOilandGas #OilDrilling #NKFields #OffshoreDrilling ⤵️ Click Follow on our page to keep up to date with energy news ⤵️

In light of recent strategic adjustments in the Middle East's oil and gas sector, with the suspension of 12 jack-up rigs affecting operations and market dynamics, it's crucial for industry stakeholders to reassess and realign their strategies. These developments signal a pivotal moment for the industry, reflecting broader trends and operational optimizations. For insights and implications on the services market, check out this comprehensive article: https://lnkd.in/gB6HMTUV #OilAndGas #MarketTrends #StrategicPlanning

Helping Business Owners #commercialfinance #helpingpeople