Industry research, market reports, trend analysis, and intelligence relevant to Permian Basin and energy markets.
Indonesia Energy’s K-29 well continued drilling on schedule at the company’s Kruh Block on the island of Sumatra, reaching a depth of more than 2,500 ft toward a planned total depth of approximately 3,400 ft. The well, drilled with PT Bina Mitra Artha’s BMA #9 rig, spudded 25 July 2026. IEC expects to enter the...
Read MessageDiversified Energy has confirmed early-stage talks over a potential acquisition of Birch Resources, as the U.S. producer continues an acquisition strategy that has delivered 35 deals valued at more than $7 billion since 2017.
Read MessageShell has lost its bid to renew an offshore exploration right along South Africa’s Wild Coast after the country’s Constitutional Court ruled against the oil major in a five-year legal dispute.
Read MessageCanrig Drilling Technology, a subsidiary of Nabors Industries, recently launched the Canrig Titan, an automated rig floor wrench that minimizes manual intervention on tubular connections. In this video shot at the technology’s launch event on 5 August in Magnolia, Texas, DC spoke with Brian Winter, VP of Engineering at Nabors Industries, about the wrench. In...
Read MessageTo encourage innovation in the drilling industry, the IADC Advanced Rig Technology (ART) Committee held another Spark Tank on 28 July. Modeled after the TV show “Shark Tank,” the forum allows technology entrepreneurs and emerging companies to pitch their products and ideas to a panel of drilling contractors, operators and service companies (the “sharks”). In...
Read MessageOil prices rose early Friday after the U.S. said its naval blockade of Iranian ports could continue "indefinitely".
Read Message"It will be a combination of economic isolation like the world has never seen before, and the continued blockade in the Strait of Hormuz," Bessent said.
Read MessageAfter years of underinvestment, confidence is returning to the offshore oil and gas industry. However, this confidence has manifested not as an exuberant return to early 2010s-level spending but rather as measured optimism grounded in capital discipline, says Mike Buck, Senior VP of Upstream, Midstream and LNG at Worley. Speaking to DC in this video...
Read MessageOn 15 July, IADC and DC staff toured Command Tubular Products’ manufacturing facility in New Caney, Texas, where the company produces specialized products like extended-wear drill pipes, along with drill collars and other drill pipe components. In this video, DC spoke with Andy Dansereau, the company’s Western Hemisphere Operations Manager, about the manufacturing processes for...
Read MessageSuriname’s deepwater sector is gaining momentum as TotalEnergies advances the GranMorgu development and recent PETRONAS discoveries add to exploration potential across the Guyana-Suriname basin.
Read MessageExxonMobil has used artificial intelligence and advanced subsurface analysis to identify four new exploration opportunities in Guyana’s Stabroek Block as the operator advances additional drilling offshore.
Read MessageIndonesia Energy’s K-29 well has drilled past 2,500 ft and is approaching its targeted reservoir interval at the Kruh Block in Sumatra, with the company preparing to move next to the WK-5 well.
Read MessagePetro-Victory Energy increased oil production 128% to 583 bpd during its first year at Capixaba Energia in Brazil while cutting production costs 37% and identifying new reservoir opportunities.
Read Messagebp has awarded Emerson a multi-million-dollar automation contract for the $2.9 billion Shah Deniz Compression project offshore Azerbaijan, designed to unlock additional gas and condensate from the Caspian Sea field.
Read MessageSuncor Energy’s board of directors announced plans for Rich Kruger, current president and CEO, to transition to the role of executive vice chair in April 2027. Peter Zebedee, currently executive vice president of upstream, will be named president and CEO concurrent with Mr Kruger assuming his new role. To support the transition, Mr Zebedee will...
Read MessageConocoPhillips announced a planned leadership succession, naming Andy O’Brien as president and CEO effective 1 September 2026. Mr O’Brien, currently CFO and executive vice president for strategy and commercial, will succeed Ryan Lance, who is retiring from the role after 14 years. Mr O’Brien joined legacy Conoco in 1997 and has spent nearly three decades...
Read MessageGreenland Energy Company and joint venture partner 80 Mile have delayed planned oil drilling in Greenland until winter 2027.
Read MessageNews of recent deadly attacks on vessels in the Gulf of Oman and the Red Sea drove oil higher. An oil spill near Oman continued to worsen.
Read MessageIran is cleaning up an oil spill off Qeshm Island in the Persian Gulf as dozens of attacks on vessels during the U.S.-Iran conflict raise risks to crude transportation and regional shipping.
Read MessageAurora Energy Services is targeting approximately $135 million in annual revenue from its Integrated Services division by 2028 as it expands engineering, EPC and fabrication capabilities to meet growing demand across oil and gas and the broader energy sector.
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