Oil falls on report Asia will import highest volume of crude since start of Iran war
Oil fell Thursday, as traders assess a report that Asia is on track to import its highest volume of crude oil since the start of the US-Iran war.
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Industry Reports
Industry research, market reports, trend analysis, and intelligence relevant to Permian Basin and energy markets.
ECOncrete, Submar launch bio-enhancing protection for Gulf offshore assets
ECOncrete and Submar are expanding their partnership to provide enhanced concrete mats for erosion protection of pipelines, subsea cables and other offshore infrastructure across the Gulf region.
Read MessageSubsea7 wins Sakarya Phase 3 contract extension offshore Türkiye
Subsea7 has won a $50–150 million contract extension for Türkiye’s Sakarya Phase 3 gas development, adding towing and mooring work for the project’s floating production unit ahead of 2028 commissioning.
Read MessageOSRL launches subsea well control system for shallow-water operations
OSRL has launched a shallow-water well control system that enables capping stacks to be deployed from outside hazardous surface areas and landed on subsea wells in water depths from 75 to 600 meters.
Read MessagePetroTal restarts drilling at Peru’s Bretaña field ahead of schedule
PetroTal spudded the 25H horizontal development well at the Bretaña field in Peru’s Block 95 on 21 September, restarting development drilling at the field about one week ahead of schedule. It is the first new well drilled at Bretaña since January 2025. Well 25H is the 20th horizontal well PetroTal has drilled at Bretaña and...
Read MessageTrio Petroleum farms in to 14-well Lloydminster multilateral program
Trio Petroleum signed a farm-in and development agreement with Calgary-based Croverro Energy covering up to 14 new multilateral heavy-oil wells in the Lloydminster region of Alberta and Saskatchewan. Croverro will remain operator of the program. The drilling inventory includes five wells in Alberta at Lloyd South and Rivercourse and nine in Saskatchewan at Lloyd East,...
Read MessageSuperior targets intervention growth with Welltec acquisition
Superior Energy Services entered into a definitive agreement to acquire Welltec International, the Denmark-based provider of robotic wireline-conveyed well intervention and metal expandable packer technologies. Welltec’s intervention platform is built around its Well Tractor technology, which conveys specialized downhole tools used to mill, clean, cut and fish wellbore components. Its completions business centers on metal...
Read MessageSLB wins OQEP contract for 548,000-bpd Bisat field expansion in Oman
SLB has won an OQEP contract to expand the Bisat-B production facility in Oman to 548,000 bpd of gross fluids handling capacity, with completion targeted within 19 months.
Read MessageTotalEnergies takes FID on Ima gas field offshore Nigeria
TotalEnergies and AMNI have taken FID on Nigeria’s offshore Ima gas development, targeting 350 MMcfd of production from 2028 to supply the expanding Nigeria LNG plant.
Read MessageZelenskyy says Ukraine ready for ‘energy ceasefire’, calls for trilateral meeting with Putin, Trump
Zelenskyy said Ukraine is ready for an “energy ceasefire” with Russia, provided Moscow stops attacks on critical infrastructure.
Read MessageIran floats conditions for Hormuz reopening as Trump says deal could come after midterms
Tehran's proposal could pave the way for restoring traffic through the Strait of Hormuz, reviving fragile hopes for a diplomatic off-ramp.
Read MessageOil falls after U.S. and Iran talk for hours at UN meeting
Oil fell Wednesday, amid hopes of a diplomatic solution to the conflict in the Middle East after Iran and the U.S. had talks.
Read MessageLaredo Oil targets Argentina oil fields for UGD technology deployment
Laredo Oil has signed a non-binding LOI with an Argentine oil operator to evaluate potential deployment of its Underground Gravity Drainage technology at mature conventional oil fields.
Read MessageShell completes $840 million U.S. Gulf asset sale to Talos, Ridgewood
Shell has completed the sale of its Na Kika and Coulomb interests in the Gulf of America to Talos Energy and Ridgewood, receiving approximately $840 million in cash proceeds.
Read MessageSuperior Energy Services to acquire Welltec in oilfield technology expansion
Superior Energy Services has agreed to acquire Welltec International, adding robotic well intervention and proprietary completions technologies while expanding its international and offshore footprint.
Read MessageAbu Dhabi’s XRG explores LNG Canada stake as partners weigh expansion
Abu Dhabi’s XRG is exploring a potential stake in the Shell-led LNG Canada project as the ADNOC-backed company pursues its goal of becoming a top-five global natural gas supplier.
Read MessageSLB to extend leak detection system across Johan Sverdrup Phase 3
Equinor awarded SLB a contract to expand real-time leak detection, virtual flow metering and digital production monitoring across the Johan Sverdrup Phase 3 development in the North Sea. The award extends monitoring coverage to new subsea infrastructure at Johan Sverdrup, one of Equinor’s most strategically significant producing assets on the Norwegian Continental Shelf. It builds...
Read MessageInvictus taps SLB for well services on Musuma-1 exploration well
Invictus Energy handed SLB a drilling and well services contract for the Musuma-1 exploration well at the Cabora Bassa project in Zimbabwe. SLB will provide specialized services, technology and operational resources for the Musuma-1 campaign, building on its earlier work on Invictus’s Mukuyu-2 drilling program. Equipment preparation, logistics and mobilization planning are now underway. Construction...
Read MessageVallourec wins tubular contract for Prinos CO₂ storage project
Vallourec secured a contract from EnEarth, a subsidiary of Energean, to supply premium tubular solutions for the first phase of the Prinos CO₂ storage project in Greece. The contract covers about 3,000 tonnes of casing pipe and accessories, including seamless carbon steel and corrosion resistant alloy casing equipped with VAM premium connections. The order also...
Read MessagePlants & Goodwin drills first CCS well for Zefiro Methane
Zefiro Methane began drilling its first carbon sequestration well, an eight-week project in eastern Indiana carried out by subsidiary Plants & Goodwin. The well is drilled into a target geologic strata evaluated as a suitable CO₂ storage reservoir. Plants & Goodwin is applying the same crews, rigs and downhole expertise it uses for well plugging...
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