Oil drops more than 5% as Trump signals Iran talks despite Tehran denial
Oil prices fell 5% after Donald Trump that Washington and Tehran are "in negotiations right now" and indicated Iran is keen to reach a peace agreement.
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Industry Reports
Industry research, market reports, trend analysis, and intelligence relevant to Permian Basin and energy markets.
Industry seeks balance between competition, collaboration in a growing digital landscape
As the drilling industry adopts more digital and automated systems into their workflows, collaboration between companies has become paramount. However, the need to maintain competitive advantage remains even in a collaborative environment, said Austin Groover, Senior Director — NDS Operations at Nabors Industries. Speaking with DC from the 2026 IADC/SPE International Drilling Conference in Galveston,...
Read MessageFlexibility, adaptability remain critical for students seeking to start oil and gas career
College students today face daunting challenges when navigating their future career paths. Especially for those seeking to join the drilling industry, students must stay exceptionally nimble as they work to get their foot in the door. On 18 March at the IADC/SPE International Drilling Conference in Galveston, Texas, DC spoke with Hallie Delcambre, a petroleum...
Read MessageCloud-based platform enables real-time barrier analysis throughout well lifecycle
Well barrier management — the process behind the design, implementation and maintenance of barriers — is an essential part of any successful drilling operation. The more effective a well barrier is, the longer a well can operate unimpeded. IPT Global showcased SureTec, a cloud-based well barrier management software, at the 2026 IADC/SPE International Drilling Conference...
Read MessageNew elastomer technology designed to stay in hole longer in difficult well conditions
Abaco Drilling Technologies’ HPD elastomer, featured at the 2026 IADC/SPE International Drilling Conference in Galveston, Texas, was designed to operate in problematic drilling conditions – such as wells with high solids contents or excessive reaming – that typically place an abnormal amount of stress on the elastomer and lead to premature failure. Speaking to DC...
Read MessageReusable escape hood provides ease of use in hazardous situations
At the 2026 IADC/SPE International Drilling Conference in Galveston, Texas, safety equipment manufacturer Elmridge Protection showcased its iEvac E500 escape hood, a chemical respirator designed to help people breathe while escaping leaks of toxic gases, such as H2S. Speaking to DC from the conference on 17 March, Ira Gurvitch, President of Elmridge, demonstrated how the...
Read MessageOil executives, investors meet in Venezuela as sanctions easing revives upstream interest
Hedge funds and oil company executives are meeting in Venezuela as the government signals a push to reopen the economy and revive upstream investment, with sanctions relief and PDVSA restructuring key to unlocking production growth.
Read MessageWorld has 'never experienced' soaring refining margins like this, TotalEnergies CEO tells CNBC
TotalEnergies CEO Patrick Pouyanné on the Iran war, the $1 billion deal with the White House, investment in the U.S., and more.
Read MessageSBM Offshore wins FEED work for Exxon’s Longtail FPSO project offshore Guyana
SBM Offshore has secured FEED contracts for ExxonMobil’s Longtail FPSO offshore Guyana, advancing a major gas-condensate development with high processing capacity and continued expansion of the region’s deepwater production.
Read MessageEnerMech wins five-year FPSO services contract for Kraken field, UK North Sea
EnerMech has secured a five-year contract to deliver crane management and lifting services on the Kraken FPSO in the UK North Sea, supporting offshore operations with integrated crewing and expanded service scope.
Read MessageHormuz disruption raises inflation risk, recession odds, EY-Parthenon says
Disruptions through the Strait of Hormuz are driving a more persistent inflationary shock, with Brent crude forecast to average $88/bbl in Q2 and recession risks rising, according to EY-Parthenon.
Read MessageExpro to deliver geothermal well testing for Vulcan Energy’s Lionheart project in Germany
Expro will deliver geothermal well testing services for Vulcan Energy’s Lionheart project in Germany, supporting reservoir evaluation and lithium extraction as Europe advances low-carbon energy and critical minerals development.
Read MessageOil States announces CEO transition, Hajdik to succeed Taylor in May
Oil States International will transition leadership as CEO Cindy Taylor retires, with CFO Lloyd Hajdik set to take over in May 2026, marking a planned succession as the company continues focusing on operational performance and growth.
Read MessageU.S. deal ends TotalEnergies offshore wind plans, accelerates LNG investment
TotalEnergies is exiting U.S. offshore wind and redirecting capital into LNG and gas projects, including Rio Grande LNG, signaling a major shift in investment strategy toward U.S. export capacity and upstream growth.
Read MessageStrohm to supply TCP production jumpers for deepwater Malaysia field extension
Strohm has secured a contract to supply insulated thermoplastic composite pipe (TCP) production jumpers for a deepwater field extension offshore Malaysia, highlighting growing adoption of corrosion-resistant subsea infrastructure in Southeast Asia.
Read MessageTrump, Modi discuss Hormuz disruption as India faces LNG supply strain
U.S. President Donald Trump and Indian Prime Minister Narendra Modi discussed disruptions in the Strait of Hormuz as India faces tightening LNG and oil supplies, highlighting growing risks to global energy flows and industrial demand.
Read MessageIraqi crude tanker signals questioned as Hormuz transit remains unclear
Conflicting tracking signals around an Iraqi crude tanker highlight growing uncertainty in vessel movements near the Strait of Hormuz, as signal jamming and limited transits complicate visibility into global oil flows during ongoing regional conflict.
Read MessageBorr Drilling acquires five jackups through new JV
Borr Drilling entered into definitive agreements to acquire five premium jackups from Fontis Finance for a purchase price of $287 million. The acquisition will be completed through BC Ventures, a newly established 50/50 joint venture (JV) between subsidiaries of Borr Drilling and its long-term well construction partner in Mexico. The JV will acquire the rig-owning...
Read MessageExpro to deliver geothermal well testing services in Germany
Expro is set to deliver well testing services for the first Schleidberg well as part of Vulcan Energy’s Lionheart Project in Germany. Under the scope of work, Expro intends to provide a comprehensive suite of services, including its GeoFlow Surface Well Testing package. These services support VERCANA and Vulcan Energy’s efforts to characterize the reservoir,...
Read MessageEquinor starts drilling major gas development in Brazil
Equinor started the drilling phase for the Raia project in the pre salt of the Campos Basin, Brazil. This marks a key milestone for the partnership as the projects progresses towards planned start up in 2028. The Valaris DS‑17 drillship started drilling operations on 24 March. The drilling campaign includes six wells in the Raia...
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