Titan Division of Hunting Energy Services, a subsidiary of Hunting PLC, the international energy services company, said on June 8 it has added a dual mode firing head to its comprehensive tubing conveyed perforating (TCP) equipment line.
Utilized as either a bar-drop or a hydraulic firing head, this latest addition is an economical solution to maintaining two different firing head inventories, while allowing the operational flexibility to run either type of toolstring.
Hunting’s TCP technology, which is extensive enough to complete any TCP operation, is accessible through Hunting’s network of distribution centers strategically located in all the world’s oil-producing regions.
Mexican state oil company Pemex said on Dec. 6 it has discovered a deposit in southeastern Mexico that could yield 500 million barrels of crude, calling it the largest such finding in more than 30 years.
Pemex’s 2019 replacement rate, a measure of new discoveries compared to ongoing production, jumped to 120.1% due to new discoveries and revisions.
Mexico agreed to a 100,000-bbl/d output cut as part of an initiative by the OPEC+ group to push up plummeting oil prices by withdrawing barrels from an oversupplied market. The cuts will be put in place this month.