Industry research, market reports, trend analysis, and intelligence relevant to Permian Basin and energy markets.
Subsea tiebacks were a clear Day 1 theme at OTC, with speakers pointing to their growing appeal as operators prioritize lower-capex, faster-to-market offshore developments in a volatile global market.
Read MessageOil prices fell after Trump said the U.S. would pause its naval escort endeavor in the Strait of Hormuz, raising hopes of a potential deal with Iran.
Read MessageNorway has launched its APA 2026 licensing round, adding 70 new exploration blocks across the North Sea, Norwegian Sea and Barents Sea to boost offshore activity.
Read MessageSES will provide satellite connectivity for seven new FPSO units operated by Petrobras, supporting offshore developments in Brazil scheduled to come online between 2026 and 2030.
Read MessagePortugal is moving toward a windfall tax on energy companies as the Iran conflict drives up oil and gas prices, with EU countries weighing coordinated action.
Read MessageThe U.S. said its ceasefire with Iran remains intact despite clashes in the Strait of Hormuz, where vessel attacks and missile strikes have heightened risks to global oil shipping.
Read MessagePresident Donald Trump announced the operation Sunday, saying the U.S. will "guide" ships stuck due to the Iran war through the Strait of Hormuz.
Read MessageWeatherford was awarded multiple managed pressure drilling (MPD) contracts and a global aftermarket agreement with Noble Corporation, covering equipment delivery, a system upgrade and fleet-wide lifecycle support. The awards include delivery of two deepwater MPD systems to support Noble’s operations offshore Guyana, with delivery expected before year-end. Weatherford is also executing an upgrade on a...
Read MessageINEOS and Shell are advancing new deepwater exploration and development opportunities near the Appomattox platform in the U.S. Gulf, targeting tieback projects to existing infrastructure.
Read MessageExpro is acquiring Enhanced Drilling for $215 million, adding managed pressure drilling capabilities as it positions for growing demand tied to energy security and global supply pressures.
Read MessageHarbour Energy has cleared a key hurdle in its acquisition of Waldorf’s North Sea assets, with a UK court backing the restructuring needed to move the deal forward.
Read MessageWeatherford has secured managed pressure drilling contracts and a global aftermarket agreement with Noble, including MPD system deployments for offshore operations in Guyana and Nigeria.
Read MessageVår Energi exercised a second option for COSL Drilling Europe’s semisubmersible COSLPioneer on the Norwegian Continental Shelf. The COSLPioneer is a harsh-environment semisubmersible capable of operating in water depths of up to 750 m. The rig maintains station keeping through an eight-line mooring system or dynamic positioning mode supported by six fixed-pitch, variable-speed thrusters. The...
Read MessageValaris secured a 1,064-day extension for drillship VALARIS DS-4 with Petrobras offshore Brazil, with the term set to begin in November 2027 in direct continuation of the rig’s existing program. Among jackup awards, Brunei Shell Petroleum extended jackup VALARIS 115 for two years, with the extension set to begin in April 2027 in direct continuation...
Read MessageBaker Hughes and Strohm are developing a hybrid flexible pipe for ultra-deepwater flowline and riser applications, targeting reduced weight and improved installation efficiency.
Read MessageExpro agreed to acquire Enhanced Drilling, a Norwegian provider of managed pressure drilling (MPD) technologies, in a deal valued at approximately NOK 2 billion. The acquisition adds MPD capabilities to Expro’s well construction portfolio, including technologies designed to help operators manage narrow drilling windows, improve wellbore control and reduce non-productive time, and can simplify well...
Read MessageDOD expected "some churn at the beginning" of "Project Freedom," Defense Sec. Hegseth said, referring to an effort to move ships through the Strait of Hormuz.
Read MessageThe U.S.' bid to re-open the Strait of Hormuz, dubbed "Project Freedom," was nicknamed "Project Deadlock" by Iran.
Read MessageGuyana’s President took the stage at OTC’s opening session—but instead of highlighting the country’s booming oil output, his wide-ranging remarks on energy transition, financing and “global energy balance” left attendees searching for a clearer message.
Read MessageOil prices declined on Tuesday, retreating from sharp gains in the previous session.
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