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.

Century-old water driller's new rigs walk into oil field service Demand for efficient rigs changes company's course By Jennifer A. Dlouhy Updated May 19, 2014 10:33 a.m.

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 ...

MEIL has received an order for 47 rigs from the ONGC in global competitive bidding. Of the 27 land drilling rigs, two are mobile hydraulic rigs with a capacity of 1,500 HP, and 17 are AC VFD rigs ...

Oil field of study: Texas Tech raises mast on nation's first operational on-campus rig Mateo Rosiles, Lubbock Avalanche-Journal Fri, January 6, 2023 at 11:30 PM UTC ...

Six others are AC VFD rigs having a capacity of 2,000 HP, and two others are HT VFD rigs of 2,000 HP. Out of these 20 are workover rigs, and 27 are land drilling rigs.

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 ...

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 ...