HAL Electric Frac First and More

Here are some of Rigzone's top upstream stories during the last week, just in case you missed them…

Halliburton Claims Electric Frac First

Halliburton reported that it has deployed the industry’s first successful electric grid-powered hydraulic fracturing operation. The company noted that, compared to turbines and Tier 4 dual-fuel engines, grid-powered electric fracturing provides a means of achieving the lowest possible emissions profile.

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Baker Hughes Reveals 67 Additional Rigs

Baker Hughes reported that the number of rotary drilling rigs operating in the United States and Canada rose by 67 recently. Against the year ago figure of 781, the U.S. rig count is down 421 drilling units for the period.

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Bank Boosts 2021 Oil Price Forecast by $7

Standard Chartered increased its 2021 average Brent oil price forecast by $7 to $51 per barrel. It also raised its 2022 average Brent oil price forecast by $7 to $59 per barrel.

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Key Wells to Watch in 2021

Westwood Global Energy Group highlighted 20 key wells to watch this year in a new insight piece. Two of these wells are frontier basin tests which, if successful, can open multi billion barrel plays, according to Westwood.

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Ex-Shell Manager Joins Galp 

Carlos Gomes da Silva has decided to step down as Galp’s vice chairman of the board of directors and chairman of the executive committee. Andy Brown is scheduled to succeed Silva, effective February 19, 2021.

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Shale CEOs Urge Production Restraint

Bloomberg reported that shale CEO’s urged production restraint in the face of the latest oil price rally. Last week, U.S. crude benchmark prices rose above $50 per barrel for the first time since February.

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To contact the author, email andreas.exarheas@rigzone.com