Oilfield Terminology

Drill pipes producer looks to the world

Hilong Holding, the world's second-largest supplier of drill pipes used in oil and gas fields, expects overseas sales to exceed domestic numbers in three to five years as it continues expansion abroad and faces a tougher task growing domestic market share.

Monday, 14 May, 2012, 12:00am

Rig-maker takes another loss

Honghua Group, a Sichuan-based producer of land-based oil and gas drilling rigs, saw its share price dive after it said last Friday it expected to post a net loss for last year after a loss of 127.34 million yuan (HK$149.09 million) in 2009. Its shares closed 13 per cent lower at HK$1.07.

11 Jan 2011 - 12:00am

In Brief

Honghua to sell 800m yuan worth of rigs to Shanghai Zhenhua

19 Aug 2009 - 12:00am

China Oilfield plans 2b yuan bond issue to fund expansion

China Oilfield Services, the largest provider of such services in offshore China, plans to issue up to two billion yuan of long-term bonds to finance capacity expansion.

16 Dec 2006 - 12:00am

US oil rig tally plummets

THE number of oil and gas rigs operating in the United States has fallen to the lowest level since an industry watcher began keeping count in 1944. The decline in the number of rigs to 588 last week was a new danger signal for an industry that has been hit by a sharp crude price decline.

24 Jan 1999 - 12:00am

Amoco in drill-bit venture

Amoco Corp and China National Petroleum Corp (CNPC) have signed an agreement to assist China in the manufacture and marketing of 'anti-whirl' rock drill bits. The agreement includes technology transfer, software installation, training and licensing of Amoco patents which relate specifically to polly-crystalline diamond compact bits.

16 Jul 1997 - 12:00am

Saga signs with Ocean Rig group

Norwegian rig group Ocean Rig has signed a memorandum of agreement with Saga Petroleum to contract its first fifth-generation drilling rig under construction at the Dalian New Shipyard in China.

2 Jul 1997 - 12:00am