RIGZONE - Colombia's Ecopetrol To Focus On Offshore Exploration, Key Fields

RIGZONE - Colombia's Ecopetrol To Focus On Offshore Exploration, Key Fields: "Colombian state-owned oil company Ecopetrol will cope with falling oil prices by bolstering exploration offshore, as well as focusing on production of high-yield wells, the company's new president said on Tuesday. Ecopetrol will focus on about 20 oilfields that produce 80 percent of its onshore crude and have output costs of between $7 and $17 per barrel, leaving wells with higher extraction expenses to other companies, Juan Carlos Echeverry said in an interview with local Caracol radio. The company, which is 88 percent owned by the government, also will focus its efforts in areas like the Gulf of Mexico. "Obviously the marginal fields will be left to other companies and we'll concentrate on our key fields," Echeverry said, one day after taking the helm of the $55 billion company. "We have to be very selective about where we invest - Colombia's coast, the Gulf of Mexico and key production in the country to keep cash flow - are the three priority focuses at this moment," said Echeverry, a former finance minister. Ecopetrol's net profits dropped 42.7 percent last year because of the global fall in crude prices, lower sales and guerrilla attacks against pipelines. The company cut its 2015 investment plan by 26 percent, to $7.86 billion. Ecopetrol is prepared to take over operating duties at Colombia's largest oilfield, Campo Rubiales, after deciding not to renew the contract Canadian company Pacific Rubiales had to run it. That contract expires in mid-2016. "We are completely capable of operating the field but the board, based on objective analysis and an evaluation of alternatives, will decide who will be the operator," Echeverry said."

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You Can Now Use Your Cellphone As A 3D Modeling Tool | TechCrunch

You Can Now Use Your Cellphone As A 3D Modeling Tool | TechCrunch: "Researchers have created a new technology that uses the camera and accelerometers in an average cellphone to measure real objects in 3D space. Created at Carnegie Mellon University, you can use the system to build “3D models of the world” just by waving your phone around an object or scene. The accelerometers, called inertial measurement units, roughly tell the phone’s software the position of the phone in space. IMU’s are very noisy and rarely usable to truly assess a phone’s actual orientation with any degree of real accuracy but coupled with the camera you can get far more useful results. “We’ve been able to get accuracies with cheap sensors that we hadn’t imagined,” said Simon Lucey, associate research professor in the CMU Robotics Institute in a release. “With a face tracker program, we are able to measure the distance between a person’s pupils within half a millimeter.” Such measurements would be useful for applications such as virtual shopping for eyeglass frames.” The tool allows for better computer vision and could mean that you could create a 3D model of almost anything with your smartphone alone. The researchers expect to use this in self-driving cars, bypassing expensive and “power-hungry” radar. The team used the technology to create something called Smart Fit that finds the perfect glasses frames for your face. “The trajectory we create with these cheap IMUs will ‘drift’ over time, but the vision element we create is very accurate,” said Lucey. “So we can use the 3-D model to correct for the errors caused by the IMU, even as we use the IMU to estimate the dimensions of the model.”"

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Comcast doubles Google Fiber with 2Gbps symmetrical fiber service | Ars Technica

Comcast doubles Google Fiber with 2Gbps symmetrical fiber service | Ars Technica: "Comcast will begin selling a 2Gbps fiber-to-the-home service in Atlanta next month, boasting that it "will be the fastest residential Internet speed in the country." Gigabit Pro, announced today, will be a symmetrical service, delivering 2 gigabits both upstream and downstream. Google and AT&T both plan to bring gigabit service in Atlanta as well, but Comcast will likely get there first by launching next month."

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CONSOL, Halliburton deliver first complete frac spread powered by EPA Tier 4F compliant engines

CONSOL, Halliburton deliver first complete frac spread powered by EPA Tier 4F compliant engines: "CONSOL Energy and Halliburton have announced the planned deployment of the first hydraulic fracturing spread that is fully compliant with the Environmental Protection Agency’s 2015 Tier 4F emissions standard for non-road, high-horsepower engines. Tier 4F equipment will be used to complete fracturing jobs on all six pads on Pittsburgh International Airport (PIT) property.  Completions on Pad 2 at PIT commenced Wednesday with an expected 36% overall reduction in emissions as a result of this new equipment. Tim Dugan, CONSOL Energy COO – Exploration and Production, commented, “Given the importance of this project to the entire Pittsburgh region, we are firmly committed to conducting our operations in accordance with the highest safety and environmental standards. So, we issued a challenge to deliver the lowest-emitting fracturing fleet possible, using the latest technology and Halliburton stepped up to the plate.” “We are pleased to team with Halliburton to introduce this industry-first on the PIT project, which is a prime example of the innovation that continues to occur across the Marcellus play, as well as CONSOL’s commitment to going above and beyond the regulatory baseline that governs our operations,” Dugan continued, Halliburton teamed up with Cummins to maximize the use of the Tier 4F engines. In addition to building a spread that is fully Tier 4F-compliant, Halliburton is also utilizing its existing emissions-reducing technologies on site, including the solar panel-powered SandCastle PS-2500 Vertical Proppant Storage System. Richard Gonzalez, V.P. of Halliburton’s Production Enhancement business line, said, “We hold ourselves to high standards in achieving compliance with environmental regulations. Building a fully Tier 4-compliant fracturing fleet that would meet emissions requirements for the Pittsburgh airport took extensive testing of prototype engines over the past few years. Halliburton, Cummins and CONSOL Energy all share the same values in developing advanced technology and protecting the environment, and we were proud to partner with them.” According to Cummins, compared to engines produced in 2000, the Tier 4F-compliant engines reduce particulate matter by 93% and oxides of nitrogen and hydrocarbon by 63%. Halliburton’s fracturing fleets have had 2015 Tier 4F-compliant engines in some of its blending equipment since 2010, and the new engines will power its fracturing pumps to complete the full Tier 4F fleet. Ed Pence, V.P. of Cummins’ High Horsepower Engine Business, said, “We are pleased to partner with Halliburton and CONSOL, pioneering Tier 4 Final very low emissions products into the market. We are confident the Cummins QSK50 will deliver the reliability and dependability Halliburton and CONSOL expect, while reaching these very low emissions through the use of proven, latest-generation Selective Catalytic Reduction after treatment.”"

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RIGZONE - Frank's International Plans to Cut 400-600 Jobs

RIGZONE - Frank's International Plans to Cut 400-600 Jobs: "ouston-based Frank’s International, LLC is the latest to announce cuts in its workforce due to the decline in oil prices. Frank’s, a global oil services company that provides tubular services to exploration and production companies in offshore and onshore environments, plans to reduce its workforce by 400 to 600 employees, citing the “sudden and dramatic drop in energy prices and rig count that we have seen over the last seven to eight months,” Josh Grodin, company spokesperson, said in an emailed statement to Rigzone. He also said the reductions will be in areas and functions in which the company is experiencing the sharpest decline in activity levels. The company plans to discuss specifics during its upcoming 1Q 2015 earnings conference call. “Frank’s Intl. remains committed to safely providing our customers with the equipment and services required to allow them to access their most challenging oil and gas reserves,” said Grodin.   Frank’s entered into a definitive purchase agreement March 11 to acquire Louisiana-based Timco Services, Inc. The acquisition is scheduled to close the second quarter of 2015.  "

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Transocean to scrap two more floaters

Transocean to scrap two more floaters: "Transocean announced Wednesday that it intends to scrap, in an environmentally responsible manner, two more rigs: GSF Aleutian Key and Sedco 707. These rigs are classified as held for sale. As a result of this decision, the company expects its first-quarter 2015 results to include an estimated non-cash charge of $90 million to $110 million, net of taxes. Including these two rigs, Transocean has announced plans to scrap a total of 18 floaters. As the company continues to evaluate the long-term competitiveness of its fleet, additional rigs may be identified as candidates for scrapping."

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RIGZONE - Hess is Mirroring Toyota Manufacturing Process to Slash Well Costs

RIGZONE - Hess is Mirroring Toyota Manufacturing Process to Slash Well Costs: ""This stuff really does work when you have a culture that is behind it," Hess President Greg Hill said in an interview on the sidelines of the DUG Conference in Denver. "We haven't even scratched the surface." Hill, who joined Hess from Shell in 2009, has data to back up his use of Lean manufacturing. Since the first quarter of 2012, the company's well costs have dropped 47 percent in the Bakken to about $7.1 million. For 2015, Hess hopes to cut that to $6.8 million."

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