Optimizing drilling operations in the oil and gas industry is the focus of companies in Managed Pressure Drilling. These organizations provide advanced technologies and expertise to manage wellbore pressure, enhancing drilling efficiency and safety in challenging geological conditions.
*Disclaimer: List of key companies in no particular order
Latest Company Updates:
November 2023- Weatherford International plc announced it has signed a memorandum of understanding ("MOU") with Honeywell to deliver a combined CygNet(TM) SCADA and Honeywell Emissions Management suite for advanced emissions management and accelerate customers' decarbonization strategy. SCADA platform, the energy industry's first standardized solution that allows operators to process data and information in real-time to support daily operations and strategic decision making, and Honeywell's Emission Management suite, an outcome-based offering that helps customers measure, monitor, report, and reduce emissions. The integrated system will facilitate immediate access to essential data, empower decision-makers to act swiftly to mitigate risks, and enhance operational efficiency to achieve decarbonization targets.
November 2023- Valaris has issued details of new offshore drilling contract awards and extensions in its latest fleet status report. Offshore Brazil, TotalEnergies has lengthened its contract for the drillship VALARIS DS-15 by 250 days, with the extension period set to take effect in fourth-quarter 2024. Total value for the firm period, excluding provision of managed pressure drilling (MPD) and additional services, is USD100 million. The contract includes two 160-day and one 120-day priced options, with increased day rates for each period. If all are exercised, the overall value would reach about USD210 million, or more if TotalEnergies opts for MPD and other activities. bp has also contracted the vessel for a one-well program next year, which should begin by early second quarter and last about 80 days. Petrobras has taken up a six-month priced option (USD41 million) for the drillship VALARIS DS-4 that will take effect in January 2024 in direct continuation of the existing program. Offshore Mexico, Eni has booked the semisub VALARIS DPS-5 for two wells with operations set to start in March 2024, with a minimum duration of 110 days and a day rate of USD345,000, plus a USD3 million mobilization fee.
Top listed global companies in the industry are:
Managed Pressure drilling Market Highlights:
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