Industry research, market reports, trend analysis, and intelligence relevant to Permian Basin and energy markets.
MOL Group has agreed to acquire Shell's 35% interest in the Aphrodite gas field offshore Cyprus for up to $720 million, joining Chevron and NewMed in one of the Eastern Mediterranean's largest deepwater gas developments.
Read MessageTrillion Energy announced a corporate name change to Dune Oil Corp, effective 4 August 2026, a move the company said reflects its strategic pivot toward oil development and exploration. The company’s shares will trade under the new symbol DUNE on the Canadian Securities Exchange from the opening of trading on that date. Trillion said the...
Read MessagePharos Energy secured a new rig, DASCO 45, which will move to a well target in the Aboud field before mobilizing to the North Beni Suef (NBS) concession in Egypt’s Western Desert. The rig is supplied by National Egyptian Drilling & Petroleum (DASCO). The addition follows completion of the first well in Pharos’s 2026 six-well...
Read MessageJindal Drilling received a Notification of Award from ONGC for continued deployment of its jackup Jindal Pioneer under a new three-year contract. The contract carries an effective day rate of approximately $47,893.99. Jindal Pioneer is currently undergoing refurbishment, and the new contract is expected to commence in Q3 2027. Jindal Drilling operates a fleet of...
Read MessageExxonMobil and Chevron on Friday reported second-quarter profits that surged on rising oil prices due to the Iran war.
Read MessageCommonwealth Bank of Australia said in a note on Friday that stronger oil flows through the Strait of Hormuz had eased market concerns after U.S.-Iran strikes earlier this week.
Read MessageClariant has appointed Gapuma Group as the distributor of its Well Service Additives portfolio across Nigeria, Ghana and Côte d'Ivoire, expanding access to drilling, cementing and stimulation chemicals in West Africa's upstream oil and gas sector.
Read MessageThe Texas Railroad Commission has issued its second permit for a deep geopressured geothermal well, highlighting the state's growing geothermal sector and the agency's role in regulating emerging energy technologies using oilfield expertise.
Read MessageContinental Resources plans to bid for additional shale acreage in Argentina's Vaca Muerta, as Harold Hamm's company expands its presence in one of the world's fastest-growing unconventional oil and gas plays.
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Read MessagePetrobras increased second-quarter oil and gas production 14% year over year to a record 3.34 MMboed, driven by the ramp-up of new FPSOs in the Búzios and Mero pre-salt fields and improved operational efficiency.
Read MessageTo encourage innovation in the drilling industry, IADC ART held another edition of its Spark Tank series on the afternoon of Tuesday, 28 July. Spark Tank is a forum to “spark” new thinking. It is an opportunity to provide active and aspiring technology entrepreneurs with a new opportunity to pitch their products and ideas to...
Read MessageShell’s Velox-1X exploratory well in Egypt’s North Cleopatra concession turned up encouraging signs of oil, raising the prospect of the first crude oil discovery in the Western Mediterranean. Shell operates the Velox-1X well in cooperation with Egyptian Natural Gas Holding Company (EGAS), with participation from Chevron and Tharwa Petroleum. QatarEnergy is in the process of...
Read MessageShell's upstream business drove a stronger second quarter, with higher oil and gas prices and record production in Brazil lifting adjusted earnings to $9.8 billion while the company advanced its ARC Resources acquisition.
Read Messagebp has started production from its Atlantis Major Facility Expansion project in the U.S. Gulf, adding 10,000 boed of gross peak production while extending the life of one of its flagship deepwater assets through new subsea water injection infrastructure.
Read MessageBP started up its Atlantis Major Facility Expansion project in the US Gulf, adding new water injection capacity to one of its longest-running offshore assets. The expansion adds two new subsea water injection wells, along with new subsea trees and new water injection pumps on the topsides of the Atlantis platform, to increase pressure in...
Read MessagePetroVietnam subsidiary PV Drilling took ownership of its newly acquired jackup during a handover ceremony held in Ho Chi Minh City. The jackup is built to the Keppel FELS Mod V “Super B Class” design and is classed with ABS. It is capable of drilling to a depth of 10,668 m and operating in water...
Read MessageSOCAR AQS completed drilling and completion operations on Well No. 118, a deviated production well drilled on a turnkey basis from Platform No. 6 at the Bulla gas-condensate field in the Baku Archipelago, Azerbaijan. The project also marked the first installation of a downhole pressure and temperature gauge in the history of Azneft and Narimanov...
Read MessageBrent crude futures, the international benchmark, gained 1.5% to $92.10 a barrel. U.S. West Texas Intermediate futures advanced 0.9% to $85.23 per barrel.
Read MessageThe bumper result comes as energy majors receive a profit boost from soaring fossil fuel prices amid the Iran war.
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