Iran attacks Kuwait as Trump says renewed Mideast hostilities will not last 'too long'
On Thursday, Kuwait's army said it was confronting hostile missile and drone attacks from Iran.
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Industry Reports
Industry research, market reports, trend analysis, and intelligence relevant to Permian Basin and energy markets.
bp appoints Ian Tyler chair after three months in interim role
bp has appointed Ian Tyler as permanent chair with immediate effect after he served in the interim role since May, completing another key step in the company's recent leadership transition.
Read MessageUganda unveils ‘Pearl Sweet’ crude blend ahead of first oil exports
Uganda has unveiled “Pearl Sweet” as the export grade for crude produced from the Tilenga and Kingfisher developments, as the $15 billion integrated oil project moves toward first production and exports.
Read MessageVenezuela set for wave of oil deals as U.S. pushes production expansion
More than a dozen energy agreements are expected as Venezuela moves to expand crude production, with U.S. Energy Secretary Chris Wright saying China will not have debt claims on revenue generated by newly developed oil fields.
Read MessageEni takes operatorship of Uruguay offshore block, adds stake in neighboring acreage
Eni has expanded its offshore Uruguay exploration position, taking operatorship and a 50% interest in the OFF-5 block while agreeing to acquire a 40% stake in the adjacent APA-operated OFF-6 block.
Read MessageChevron plans $7 billion Venezuela investment, targets 600,000 bpd production
Chevron plans to invest more than $7 billion in Venezuela over the next five years and more than double production to approximately 600,000 bpd after securing additional acreage in the Orinoco Belt.
Read MessageSubsea7 wins subsea contract for LLOG’s Who Dat East development
Subsea7 has secured a $50–150 million contract from LLOG Exploration for the deepwater Who Dat East development in the U.S. Gulf, including installation of a 29-km riser and pipe-in-pipe system.
Read MessageBP brings Fayoum 4 well onstream two years early
BP started production from the Fayoum 4 well in Egypt’s West Nile Delta, bringing the well onstream about two years ahead of the original schedule. The well is adding approximately 80,000 mcf/d of gas to Egypt’s domestic supply, according to Egypt’s Ministry of Petroleum and Mineral Resources. BP discovered Fayoum during a 2025 exploration campaign...
Read MessageValaris 107 completes five-well Turrum Phase 3 campaign
The Gippsland Basin joint venture between Esso Australia, a subsidiary of ExxonMobil, and Woodside Energy completed drilling five new production wells under the Turrum Phase 3 project, with the Valaris 107 jackup demobilized from the Marlin B Complex following the campaign. The wells target underdeveloped gas resources in the Turrum and North Turrum fields, located...
Read MessageComstock secures Jones family financing for Haynesville drilling
Comstock Resources entered a $450 million Haynesville shale drilling venture with Jerry Jones, the company’s majority stockholder, effective 1 September 2026. Under the arrangement, a partnership owned by the Jones family will fund 85% of drilling and completion costs for 18 Western Haynesville wells and 80% of costs for nine Legacy Haynesville wells that Comstock...
Read MessageEnergy Secretary Chris Wright tells CNBC more than 17 million barrels of oil transited Hormuz on Monday
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Read MessageOil major BP completes search for chair after boardroom upheaval
BP on Wednesday formally appointed Ian Tyler as chair after a surprise dismissal of former chairman Albert Manifold sparked boardroom turmoil.
Read MessageBrent rises more than 2% following tit-for-tat strikes by the U.S. and Iran
Oil rose Wednesday, as Mideast tensions continue to escalate after the U.S. attacked Iran, while Tehran reportedly struck back at U.S. allies.
Read MessageTrump says U.S. is not forcing Iran to negotiate after fresh round of strikes
U.S. forces completed another wave of strikes against Iran on Tuesday stateside, hitting multiple Islamic Revolutionary Guard Corps sites across the country.
Read MessageComstock strikes $1.65 billion SOCAR deal, $450 million Haynesville drilling JV
Comstock Resources has announced a $1.65 billion strategic partnership with SOCAR and a $450 million drilling venture with Jerry Jones to accelerate development of its Legacy and Western Haynesville natural gas assets.
Read MessageWeatherford completes NCS Multistage acquisition, expands completions portfolio
Weatherford has completed its acquisition of NCS Multistage, adding well completions and reservoir diagnostics technologies while strengthening its oilfield services portfolio in North America and other markets.
Read MessageU.S.-Venezuela oil deal covers 17 fields, 65 Bbbl of reserves
A new U.S.-Venezuela oil agreement covers 17 fields containing approximately 65 Bbbl of proven reserves, with North American Blue Energy Partners planning up to $100 billion in investment to expand Venezuelan oil production and infrastructure.
Read MessageTwo oil tankers reportedly struck as Strait of Hormuz hostilities resume
Two oil supertankers attempting to exit the Strait of Hormuz were reportedly struck by projectiles as renewed U.S.-Iran hostilities threaten a recent recovery in oil shipments through the critical waterway.
Read MessageChevron nears deal to operate two giant oil fields in Venezuela’s Orinoco Belt
Chevron is nearing a deal to operate two giant oil fields holding billions of barrels of heavy oil in Venezuela’s Orinoco Belt, potentially marking a major expansion of the U.S. producer’s footprint in the country.
Read MessagePV Drilling lines up Borr rig for 2026 Vietnam campaign
PetroVietnam Drilling and Well Service PetroVietnam Exploration on 28 August 2026 to lease the IDUN jackup rig for the 2026 TL-WHP drilling program at Blocks 01/97 and 02/97 offshore Vietnam. PV Drilling will mobilize the IDUN rig from Borr Drilling to drill three wells at TL-WHP under the roughly 134-day program, which is set to...
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