HP's move to 1500 hp AC drive rigs are much of the reason it continues to grab market share. (Source: Helmerich & Payne) When oil prices recover, HP may be in the best position to gain market share.

Rig And Oil Field Market Report 2025 ... In 2024, MEIL, an India-based construction engineering company, introduced the C3BR1 NG 2000-5, a fully automated, 2000 HP capacity oil drilling rig.

But seizing on the boom in domestic energy development - and the demand for more efficiencies in the oil field - Schramm is designing sophisticated new rigs that take fewer truckloads to transport ...

Helmerich & Payne said it received notices of contract suspensions for an additional nine rigs in Saudi Arabia, bringing the ...

Rigs targeting crude in the Permian Basin of Texas and New Mexico, the nation’s biggest oil field, jumped to the second-highest level on record, defying a $17-a-barrel drop in prices over the ...

VIJAYAWADA: The Hyderabad-based global conglomerate Megha Engineering and Infrastructures Limited (MEIL) has deployed its advanced, fully automated and hydraulic 2000 HP capacity oil drilling rig ...

"It was built to give our students a solid experience in the oil field under a controlled environment where we have total safety out here," he said. The rig is also fully electric, and will draw ...

At latitude 71.3 north, it will be 140 miles closer to the pole than Russia's Prirazlomnoye platform in the eastern Pechora Sea—the only other offshore rig currently producing oil in Arctic ...

The Advanced new generation oil drilling rig (C3BR1 NG 2000 - 5) is unique in its functioning with the capacity of 2000 HP and can drill up to 6000 meters in high pressures and temperatures.

By John Lee. The Iraqi Drilling Company (IDC) is making steady progress on its project to drill 15 oil wells in the North ...

Texas Tech leaders hope to strike black gold - and give petroleum engineering students some literal in-the-field experience at the same time. The university made history on Friday by raising the ...