Oil extends gains as Middle East supply concerns persist
Oil rose after Iranian officials were reportedly pessimistic over a deal before U.S. midterm elections.
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Industry Reports
Industry research, market reports, trend analysis, and intelligence relevant to Permian Basin and energy markets.
IADC UBO/MPD Committee advances recommended practices, training standards
The IADC Underbalanced Operation and Managed Pressure Drilling (UBO/MPD) Committee continues to push forward on multiple fronts, from drafting new industry standards to expanding training accreditation. At the 2026 IADC/SPE MPD/UBO Conference in London on 16 September, Committee Chair Matt Kvalo spoke with DC about the committee’s ongoing initiatives. In particular, he talked about API...
Read MessageYangarra expands Belly River development after drilling 17 wells
Yangarra Resources has drilled 17 Belly River wells at its Chambers development in Alberta and built an inventory of 106 future locations, while a new well design delivered a 2.5-fold improvement in IP90 productivity.
Read MessageComstock, SOCAR advance $1.65-billion Haynesville partnership with framework agreement
Comstock Resources and SOCAR have advanced their planned $1.65 billion Haynesville partnership with a framework agreement, while exploring opportunities to market gas from the assets as LNG internationally.
Read MessageDNO holds firm on final Capricorn bid after Genel raises competing offer
DNO says its $5.214-per-share all-cash offer for Capricorn Energy is final and will not be increased after Genel Energy raised its competing bid and secured commitments representing about 39% of Capricorn shares.
Read Message1947 Oil & Gas begins AIM trading following U.S. Gulf acquisition
Newly listed 1947 Oil & Gas has begun trading on London’s AIM market, providing capital to complete its previously announced Renaissance Offshore acquisition and pursue additional producing assets in the Gulf of America.
Read MessageINEOS’ U.S. shale ethane supply chain reaches 10-year milestone
INEOS is marking a decade of U.S. shale ethane supply to its Grangemouth complex, with more than 400 shipments received since the first purpose-built Dragon Ship arrived in Scotland in 2016.
Read MessageNoble Faye Kozack lines up Tullow work offshore Ghana
Noble Corp won a drilling contract with Tullow Oil for the drillship Noble Faye Kozack, covering up to 10 wells offshore Ghana. The work is expected to begin in mid-2027. The 2013-built Noble Faye Kozack is a Samsung 12000 double hull-design drillship. It is rated for water depths up to 12,000 ft and a maximum...
Read MessageExxonMobil keeps two Noble rigs at work on Whiptail drill centers
ExxonMobil are keeping two Noble drillships busy on the Whiptail Project in the Stabroek Block, according to notices to mariners from Guyana’s Maritime Administration Department. Both rigs are carrying out developmental drilling within Guyana’s exclusive economic zone. The Noble Tom Madden resumed operations at the WT_1i11 drill center on 26 September and is set to...
Read MessageTotalEnergies, partners approve full-field development of Absheron gas field
TotalEnergies and its partners took a final investment decision to develop the Absheron gas and condensate field in the Caspian Sea, about 100 km southeast of Baku. TotalEnergies operates the field with a 35% interest, alongside SOCAR at 35% and XRG at 30%. Gas from the Absheron Full Field Development will come from four subsea...
Read MessageHilcorp gets go-ahead for two Paxton Pad wells on Kenai Peninsula
Alaska’s Division of Oil and Gas approved a Hilcorp Alaska plan to drill two grassroots wells at the Paxton Pad in the Ninilchik unit on the southern Kenai Peninsula. The wells are Paxton 16 and Paxton 17. Work also includes installing gas flowlines, electrical instrumentation, line heaters, separators and compressors as necessary, all within the...
Read MessageTrump ‘very seriously’ considering diesel export ban as global supply crunch worsens
Analysts warn an export ban could backfire, pushing up global diesel prices and potentially triggering higher U.S. gasoline prices as refiners adjust.
Read MessageExxonMobil to operate Azerbaijan shale venture with SOCAR
ExxonMobil and SOCAR have formed a joint venture to explore and develop unconventional oil and gas resources in Azerbaijan’s Middle Kura basin, taking U.S. shale expertise into a new international play.
Read MessageTotalEnergies takes FID on Absheron gas development offshore Azerbaijan
TotalEnergies, SOCAR and XRG have taken FID on the full-field Absheron development offshore Azerbaijan, targeting 6 Bcma of gas and 47,000 bpd of condensate from 2029.
Read MessageIran's foreign minister keeps indirect talks with the U.S. open; Iranian navy claims capture of underwater drone
Iran's foreign minister says talks are the only way to break the deadlock, while its navy says it's analyzing data from a captured U.S. underwater drone.
Read MessageTrump rejects Iran's conditional ceasefire proposal, WSJ reports, as Saudi coalition intercepts projectiles
Trump expects renewed U.S. bombing of Iran after the midterm elections, The Wall Street Journal reports, as Saudi-backed forces intercept projectiles.
Read MessageTexas RRC names Worth Farabee government relations director
The Railroad Commission of Texas has named Worth Farabee its new Government Relations Director, bringing nearly two decades of legislative and government affairs experience to the state's energy regulator.
Read MessageThe market's new 'super-cycle' hedges for world whipsawed by supply shocks and inflation
Oil prices have long been a way for investors to hedge supply shock inflation but to gain from rising prices in a resource-short world that trade is too narrow.
Read MessageABL to support Allseas on record Statfjord A topside removal
ABL will support Allseas’ single-lift removal of Equinor’s Statfjord A topside, with Pioneering Spirit’s lifting capacity upgraded to 60,000 tonnes for the North Sea decommissioning project.
Read MessagePhoto Gallery: IADC Young Professionals Summit, 24 September, Houston, Texas
Building on the success of the past two years, IADC’s Young Professionals (YP) Committee brought back its one-day Summit, built specifically for the next generation of talent in the drilling industry. Held on 24 September at Transocean in Houston, the event gave YPs a dedicated space to network, exchange ideas, hear from industry SMEs and...
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