Industry research, market reports, trend analysis, and intelligence relevant to Permian Basin and energy markets.
Ranger Energy Services will acquire STEP Energy Services’ U.S. coiled tubing assets for $27.5 million, adding 13 coiled tubing spreads and significantly expanding its Permian and Bakken operations.
Read MessageHelix shareholders have approved the company's all-stock combination with Hornbeck Offshore Services, clearing the way for the offshore services merger to close Sept. 1. Hornbeck securityholders will own approximately 55% of the combined company.
Read MessageExxonMobil is continuing developmental drilling operations at the Whiptail Project’s WT_2i01 drill center within the Stabroek Block, offshore Guyana. The MODU Noble Tom Madden is carrying out the drilling, with operations set to run through 30 September. The WT_2i01 drill center sits about 110.51 nautical miles off the Guyana coast in the Stabroek Block, within...
Read MessageArabian Drilling signed a new five-year contract with SLB Middle East for 11 land rigs to support gas lump sum turnkey operations in Saudi Arabia, worth approximately $800 million. The 11 rigs are the incumbent units already deployed under Arabian Drilling’s previous gas LSTK project with SLB, which had been under a one-year contract extension...
Read MessageNestoil Group deployed its wholly Nigerian-crewed drilling rig, the Pathfinder 500, to complete workover operations on two producing wells in Oil Mining Lease (OML) 42 in the Niger Delta. The rig, operated through Nestoil’s drilling unit Scorpio Drilling International, finished the campaign without a health, safety or environment incident before being demobilized to base. Group...
Read MessageTurkey’s TPAO is on pace to finish drilling the Curad-1 exploration well offshore Somalia by the end of September, about a month ahead of the original October target, according to Somali Petroleum Authority Director General Abdulkadir Adan. The ultra-deepwater drillship Çağrı Bey has reached a depth of about 3,000 m at the well, located roughly...
Read MessageIran’s Pars Oil and Gas Company completed drilling of two wells at the Balal gas field, a joint offshore development shared with Qatar in the Persian Gulf, bringing the project’s overall completion to 42%. Ehsan Mohammadi, Project Manager for the field’s development plan, said the descriptive well drilling and jacket fabrication and installation work packages...
Read MessageOil rises Monday, amid heightened concerns over supply disruptions after U.S. forces struck two Iranian rocket launchers on Larak Island on Sunday.
Read MessagePresident Donald Trump says Venezuelan crude will be used to refill the U.S. Strategic Petroleum Reserve, which currently holds 289.7 MMbbl—roughly 40% of its more than 700-MMbbl capacity.
Read MessageEtu Energias will acquire Chevron’s 31% interest in Angola’s deepwater Block 14 and 15.5% interest in Block 14K for $260 million, giving the Angolan company a majority stake in Block 14 and positioning it to assume operatorship.
Read MessageIran's president says sanctions are hitting imports and exports, as its supreme leader urges less reliance on the U.S. dollar.
Read MessageBritENERGY Group is shifting investment to the U.S. Permian basin as its chairman criticizes the UK’s energy policies, acquiring interests in 13 New Mexico oil and gas wells targeting 5 MMbbl by 2032.
Read MessageElementz and FutureOn are integrating subsea inspection and integrity data into the FieldTwin Operate digital twin platform, allowing offshore engineers to view asset condition, anomalies and planned work within a single environment.
Read MessageNabors Industries completed a $35 million strategic equity investment in Quaise Energy, making Nabors the geothermal drilling technology company’s largest shareholder with a fully diluted stake of 14%, the companies said 27 August 2026. The funding, part of Quaise’s Series B financing round, was made through the issuance of approximately 392,000 shares of Nabors common...
Read MessageOvintiv added 240 net 10,000-ft equivalent drilling locations to its inventory in the Permian and Montney basins through more than 60 separate transactions completed year-to-date, the company said 26 August 2026. The deals, part of Ovintiv’s 2026 “ground game” acquisition program, brought in approximately 41,000 net acres for a combined cost of about $460 million....
Read MessageSapphire Gas Solutions has acquired EDGE LNG, adding approximately 200,000 gal/day of modular liquefaction capacity and expanding its ability to produce, deliver and vaporize LNG across the southern U.S.
Read MessageVenezuela is considering leaving OPEC just months after the UAE’s withdrawal, raising questions about the producer group’s cohesion and its ability to manage global oil supplies as geopolitical shifts reshape the market.
Read MessageThe war has far exceeded the four to six weeks the Trump administration estimated it would take to meet its objectives in Iran.
Read MessageIran said the conflict in the Gaza Strip has to end, Israel has to withdraw from Lebanon and also halt its attacks on Syria.
Read MessageDNV has launched a new resilience framework for critical energy infrastructure, warning that geopolitical, cyber, physical and supply-chain threats are becoming increasingly interconnected across the energy sector.
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