Traditional drilling techniques have hamstrung the vast potential of deep geothermal—too long on site, too many risks and too high of a market barrier—which is why, particularly given the potential of enhanced geothermal systems, it is time for the sector to take a fresh approach to its core technology.
The industry could achieve an 'easy win' in drilling technology integration by being transparent about the data they collect.
Permits and rigs will always be part of the energy intelligence mix. But just as every energy company had to become more technologically savvy to survive the past two years, this new upcycle will require adopting new intelligence technologies.
The Merlin-2 appraisal well is planned for a total depth of 8,000 ft, and is targeting 652 million barrels of oil.
Understanding the pore pressure and geomechanics of a well prior to and during drilling reduces downtime and provides a safer environment for those at the well site. With remote pore pressure and geomechanics services, users can reduce the number of personnel required on site.
In a regulatory filing, Schlumberger reported late payments from its primary customer in Mexico that were in excess of $500 million as of the end of 2021.
Houston, Texas-based Halliburton said it would boost its dividend to 12 cents, payable on March 23, up from a 4.5 cents dividend previously.
Schlumberger's fourth-quarter adjusted net income rose to $587 million, or 41 cents per share, above Wall Street estimates of 39 cents per share, according to Refinitiv IBES.