Eldon Ball, Houston
Today’s large budgets leave little of the world off of the exploration and production radar, and Latin America is no exception. In the case of Latin America, the cross-section of investors includes all of the major operating companies, as well as two heavy-hitting national oil companies. In this month’s special report on Latin America,International Editor Judy Maksoud looks at the new E&P activity in Brazil, Trinidad and Tobago, Colombia, and other regions of Latin America. Her report begins on page 28.
Continuing the Latin America report, in an exclusive interview withOffshore magazine, Mauricio Werneck de Figueiredo, PROCAP 3000 coordinator, discusses four projects that illustrate how Cenpes, Petrobras’ research and development center, maintains the company’s pioneer position in deepwater exploration. His interview starts on page 32.
Hercules Offshore’s expansion strategy
Houston-based Hercules Offshore, founded in July 2004, started out as an operator of five jackups and 22 liftboats. Today, the company has expanded its fleet to nine rigs and 64 liftboats, making it the largest liftboat operator in the Gulf of Mexico, fourth largest jackup operator in the GoM.
Its latest deal, the $2.3-billon acquisition of Todco, will create the largest jackup operator in the GoM and the fourth largest jackup operator in the world. The transaction is expected to close mid-July. The combined company will operate a fleet of 33 jackup rigs, 27 barge rigs, 64 liftboats, three submersible rigs, nine land rigs, and one platform rig. Meanwhile, the exodus of jackups from the GoM continues.Managing Editor David Paganie sat down with John T. Rynd, senior vice president of Hercules Offshore and president of Hercules Drilling Co. Llc, to discuss the strategy behind the merger. His interview begins on page 66.
Jackup construction at all-time high
The number of jackups under construction and on order today is greater than at any other time in the history of offshore rig construction. The jump in newbuilds has been particularly dramatic over the last 18 months, and the numbers continue to rise.
In 2005, the last yearOffshore published the Deepwater Jackup poster, there were 90 rigs listed on the poster, with 26 of the rigs (29%) under construction. Today, there are 117 jackups listed on the poster, with 46 (39%) under construction or soon to be built. In this issue, Judy Maksoud joins Barry Harding, of Harding Resources Inc. in examining the status and future of the global jackup fleet. Their analysis begins on page 64. And don’t miss the deepwater jackup fleet poster included in this issue.
Deepwater GoM survey
The largest wide-azimuth seismic survey in the world is progressing well in the Walker Ridge area of the Gulf of Mexico, says CGGVeritas. The data library survey covers 464 lease blocks and includes the Jack discovery by Chevron.
“Our first non-exclusive wide-azimuth survey brings a whole new scale of data acquisition to a highly prospective area of the Gulf of Mexico,” saysTim Wells, president, Western Hemisphere, CGGVeritas. “The survey is substantially pre-funded by multiple clients and will provide our customers with increased illumination and an enhanced understanding of the complex geology of the deepwater Gulf of Mexico.” Technology Editor Gene Kliewer takes a look at the technology it takes to advance in sub-salt exploration in his analysis beginning on page 84.
Launch pad for deepwater technology
From new floating mobile drilling and production equipment to subsea production trees and pipelines, and from seafloor separation systems to infrastructure for deepwater heavy oil development, the list of technology advancements that have debuted at successiveDeep Offshore Technology (DOT) conferences is long and diverse.
With DOT just around the corner - Oct. 10-12 in Stavanger -Special Correspondent Jay Schempf looks at how technologies showcased at the industry’s leading deepwater event have made their way to successful application in the field. All along the way, some of the technology introduced has been revolutionary in its effects on deepwater operations. Don’t miss his surprising findings, beginning on page 86.
