Master Drilling is one of the largest providers of oil and gas drilling equipment and services including exploration-stage, capital project-stage, and production stage drilling. Through their services the South African-based company has helped grow the global proved oil reserves by 27% (over 350 billion barrels)...
Oil and gas appear to be headed in different directions as far as overall outlook for the moment at least. Gas prices continue to fall as crude oil barrels hover around some of the lowest rates seen in years, but one sector of drill rig...
Earlier this month the Rice Alliance for Technology and Entrepreneurship (Rice Alliance) held the 13th Annual Energy and Clean Technology Venture Forum in Houston. It's an industry convention-type conference billed as the largest of its kind in the southwest. It's an event anyone with an...
Despite there being only enough oil reserves to currently meet about 53 years of production, one region with the potential to increase that number took a devastating blow. The Royal Dutch Shell Oil Company announced Sunday they're stopping their exploration and drilling project off the...
Today, there are only enough known oil reserves for approximately 53 more years of global production. You wouldn't be able to tell by looking at the current cost though. The price of crude oil and gas has hit their lowest levels since 2009, according to...
Today there are enough global oil reserves to continue production at the current pace for another 53.3 years. This is good news for the 9.8 million people currently working in the industry (8% of U.S. economy). Evolution will have to keep happening in the field...
If you're looking for the best oil drilling equipment -- like high-quality roll off containers, drilling rig systems, or tanks and pumps -- then you won't regret buying American. In the past few decades, millions of U.S. manufacturing jobs have moved overseas, and those proud...
They may look ugly and obtrusive to most people, but to those of us in the industry the sight of oilfield tanks and drilling rigs is beautiful. They signify hard-work and perseverance. They're a reminder of all that goes into being able to roll out...
It all began with Edwin Drake in 1859, stumbling upon the first substantial oil reserve in America, extracting it from 70 feet below the ground with a simple hand pump. Our country never looked back, and the advancements in tanks and pumps have far exceeded...
If you're looking to build your oil and gas company, you should know how important your industry is to the country's economy. With great power comes great responsibility, and you need the right tools to keep up with how fast the oil and gas world...
Oilfield equipment and industrial equipment manufacturers rely on one raw material above all to produce their equipment: steel. Understanding the fluctuations and trends of the steel market is an essential part of any industrial equipment manufacturer's job, whether they're working with oil field products or...
In an era when the oil and gas industry constantly evolves, staying ahead with the latest technological advancements is crucial. One innovation reshaping the petroleum industry is tank monitoring....
The U.S. may soon surpass its competitors to become one of the largest natural gas suppliers in the world, experts claim. However, the American oil and gas industry still faces stiff competition from its main rivals in the $120 billion liquefied natural gas (LNG) export...
A new study from West Virginia University (WVU) reveals that the amount of resources stored within the Utica Shale play is significantly larger than previously estimated, signaling huge news for the U.S. oil and gas industry. According to a July 14 Pittsburgh Post-Gazette article, the study...
The U.S. oil industry is reaching some of its highest production levels in history. It's no surprise that American oil and gas companies added 4.5 billion barrels of crude oil and lease condensate proved reserves in 2012 -- a 15.4% increase from 2011 and the...
For U.S. oil producers, 2015 is well on its way to becoming the most productive year for crude oil output in 45 years. On Tuesday, July 7, the Energy Information Administration (EIA) released its forecast for the rest of the year's oil output, which states that...
With California well into its fourth year of historic drought, water has never been more scarce for the state's millions of inhabitants. Rivers and lakes run bone-dry; much of the state's lush plant life has succumbed to soil so dry it could blow away in...
Oilfield equipment manufacturer unveils its largest used equipment yard to date to allow customers to purchase used equipment on a direct sale or consignment basis. Midland, TX -- On July 1, veteran oilfield equipment manufacturer Dragon Products, LTD opened its largest used and surplus equipment yard...
After decades of speculation and debate over its impacts on public drinking water supplies, the Environmental Protection Agency (EPA) has finally revealed that hydraulic stimulation and fracturing has a negligible impact on drinking water in the U.S. According to Forbes, the EPA's five-year study of hydraulic...
In another finding that supports continued hydraulic stimulation and fracturing in the Marcellus Shale, a new study has found that the effects of fracking on air quality near shale drilling sites is not as bad as previously predicted. The findings, published in the journal Environmental Science...
The same drilling technologies that helped foster the U.S. shale boom could help unlock as much as 141 billion barrels of crude oil outside North America, new reports say. According to a May 18 Oil and Gas Investor article, techniques like horizontal drilling and hydraulic stimulation...
In a move to protect oil and gas companies operating within the state of Texas, Republican Gov. Greg Abbott recently signed a law that prohibits cities and towns from banning hydraulic fracturing, or "fracking." The law also makes it next-to-impossible for municipal and county governments to...
New reports indicate that Iran may have the resources needed to expand its domestic oil and gas drilling projects significantly in the near future. According to a December 27 Mehr News Agency article, Dariush Raeisi, a senior official from the National Iranian Drilling Company (NIDC), has...
At this year's Offshore Technology Conference, General Electric executives revealed that the use of smart sensors and Big Data analytics could allow oil and gas companies to produce an additional 80 billion barrels of oil worldwide -- some three years' worth of global crude supply. According...
It's been one of the biggest headlines throughout recent months -- the global oil environment continues to be plagued with low prices per barrel. Yet for the U.S. shale drilling industry -- which sources oil and natural gas from the rich shale fields of Texas and...
As the ongoing shale boom continues to bolster production in the oil and gas industry, experts are predicting that the U.S. will become a net energy exporter within 15 years -- the first time the country has managed to do so in its history. Since the...
Oilfield equipment manufacturer continues to expand its customer focused solutions and services with a new pump testing facility in Odessa, TX. Odessa, TX -- Energy and industrial equipment manufacturer Dragon Products, LTD recently opened its new pump testing facility, located at the Dragon West Texas location...
On Wednesday, March 4, Exxon Mobil Corp. announced an ambitious long-term plan to invest heavily in the shale fields of Texas, North Dakota and Oklahoma as a means to spur revival throughout the oil and gas industry. According to the Dallas Business Journal, Exxon, the world's...
America is currently in the midst of an energy boom — and natural gas drilling is at its forefront. In fact, by 2035, it’s estimated that shale gas production will skyrocket to 13.6 trillion cubic feet. And it’s something everyone should embrace, as the explosion...
News of oil and gas' alleged demise continue to emblazon headlines around the world -- but when it comes to the long-term picture, this industry might be much more resilient and capable of growth than previously thought possible. According to a March 15 Financial Times article,...