The 2012 Offshore Technology Conference at Reliant Park in Houston is celebrating a 30-year high in attendance with 89,400 people attending the show. OTC officials say the numbers were up 14% over 2011 and mark the third highest in show history. One attendee, Jhump & Associates founder and president Jerry Humphrey says the high attendance only proves that the industry is on the upswing but facing several challenges, “It’s no secret the oil industry is heading in the right direction and that will present many operational challenges for our colleagues.”

In a release on the OTC website, conference chairman Steve Balint echoed Humphrey’s opinion, “The industry is on the rise and the challenges are ahead, making it more important than ever to collaborate and share best practices,” Balint added, “In terms of strength of the technical sessions and technology on display, OTC reached a record-breaking number of people.”

Humphrey says exploration and drilling are ramping up and companies are scrambling to meet the demand of getting the right people, the right teams and the right resources in place. That’s where he says his company shines, “We’re drilling people. Our team has been proven in the field and we understand the business and the culture. That gives us a competitive advantage when it comes to business development and human capitol.”

Jhump has proven itself as a leader in finding solutions for its oil industry clients. In addition to finding the right people to handle the job, Jhump has had abundant success in working with companies in liquidating surplus equipment. “Finding oil and gas is a process that uses a bunch of equipment,” Humphrey said. “When you use that much equipment, there’s going to come a time when you don’t need it anymore or something breaks down and you need a part. That’s where we come in.”

Jhump has watched its surplus equipment sales soar over the past few years, including a 117% rise since last year. Humphrey says their success can be attributed to their process of evaluating the goods with a fair price, connecting the right buyers and sellers and the addition of Equipstream.com, a new online surplus marketplace. “We wanted to make the process of finding, listing and buying equipment simple,” Humphrey said. “Equipstream.com allows us to do that. Now anyone can visit our site, see our goods and make a purchase with the click of a mouse.”

Humphrey was proud to tell this year’s OTC visitors all about Jhump’s success and show them the benefits of using Equipstream.com. The company had their largest presence ever at the conference. “Our booth was packed with clients and curious visitors daily,” he said. “While we’ve been around for a few years, this year marks a  new beginning for us. Our philosophy hasn’t changed, but our company has grown. And most importantly, people are learning more about Jhump. And they’re learning when it comes to the services we provide, we do what we say we’re going to do. And most of the time, we outperform our projections.”

Drilling for the initial well began April 27 and will measure a total depth of approximately 12,674 feet. Caza has a 20% working interest and a 15% net revenue interest in the Bradley 29 Fed Com No. 3H well.

Caza CEO W. Michael Ford said, “”We are very pleased to be drilling our first horizontal Bone Spring well in New Mexico with Mewbourne. Mewbourne is an accomplished operator with extensive knowledge in this basin, and we are looking forward to working with them on these projects. This will be Caza’s first foray into horizontal drilling in this exciting oil and liquids-rich play. The Quail State well being drilled by Fasken, another highly respected operator, should also provide the Company with valuable information that could be used in Caza’s Bone Spring drilling and completion operations later this year. We have also elected to participate in CML’s proposed plug back operation on the Sombrero property well and hope to complete the well in the San Andres formation later this month.”

To read the full release, click here:

http://www.cazapetro.com/index.php?id=345

“Despite tough economic times, Houston has demonstrated an unwavering economic strength—due in no small part to the energy leadership and innovative manufacturing found throughout this region,” said John Krenicki, vice chairman, GE and president and CEO, GE Energy. “Today’s announcement emphasizes our continued commitment to investing in solutions that power the world, as well as in opportunities that drive American competitiveness.”

GE’s Technology Center currently employs more than 600 people and exports approximately 70 percent of the products manufactured on-site, company officials said. The Center features a bay area used to assemble, test and certify blowout preventer stacks and testing areas for GE’s drilling technologies.

To read the full release, click here:

http://www.genewscenter.com/Press-Releases/GE-Energy-to-Open-New-Oil-Gas-Training-Facility-and-Create-100-New-Technical-Jobs-in-Houston-3849.aspx

“Treaty Energy Corporation completed the funding for their 9-well drilling program on existing leaseholds. The total amount of this project, which has now been fully funded is $1,450,000,” said Treaty CEO Bruce Gwyn. “The first 5 of 9-well program had previously been secured and the same investor group came back to complete the funding for the entire program. These 9-wells will be drilled to depths of 2,600 ft. with expected oil production flow rates of up to 100 BOPD per well. Now both the 9-well and 12-well programs are completely funded.”

To read the full release, click here:

http://www.treatyenergy.com/nonflash/index-5.php?fn_mode=fullnews&fn_incl=0&/fn_id=109

In an announcement on the company’s website, Valiant Petroleum said the well is expected to spud within the next few days and take 40 days to complete.

Timon is an Upper Jurrasic sand play similar to the Cladhan and Tybalt discoveries also located in the UK Northern North Sea. Valiant Petroleum owns a 10% interest in the Timon prospect.

To read the full release, click here:

http://online.hemscottir.com/ir/vpp/ir.jsp?page=news-item&item=1024407682157332