Diamondback moves to boost Permian output as global supply tightens
Diamondback is ramping up Permian output, citing a “historic global deficit” as supply disruptions and rising prices push U.S. shale producers to respond.
Read Message
Industry Reports
Industry research, market reports, trend analysis, and intelligence relevant to Permian Basin and energy markets.
Iran strikes UAE oil facilities, escalating tensions after ceasefire
Iran launched missile and drone attacks on the UAE, targeting oil infrastructure in Fujairah and driving crude prices higher amid renewed regional tensions.
Read MessageSouth Sudan declines to renew Oranto’s Block B3 exploration license
South Sudan has declined to renew Oranto Petroleum’s Block B3 exploration license after a performance review found unmet seismic, drilling and financial obligations.
Read MessageUnique Group expands subsea mechanical capabilities for decommissioning
Unique Group is expanding its subsea mechanical division with new systems for offshore decommissioning, installation and construction, including excavation, cutting and recovery technologies.
Read MessagePermian land firm EagleRock launches IPO targeting up to $400 million
Permian land firm EagleRock has launched an IPO that could raise nearly $400 million, underscoring continued investor interest in basin access and royalty assets.
Read MessageHelix sells shallow water abandonment unit for $107.5 million, shifts focus to deepwater
Helix Energy Solutions has sold its shallow water abandonment business to the Chouest Group for $107.5 million, sharpening its focus on deepwater well intervention and offshore services.
Read MessageIndian consortium makes gas and oil discovery in Libya’s Ghadames Basin
Oil India Limited (OIL) and Indian Oil Corporation (IOCL), as part of an Indian consortium with a combined 25% participating interest, made a gas and oil discovery in onshore exploration Block Area 95/96 in the Ghadames Basin, south-western Libya. The block, covering approximately 6,630 sq km, is operated by SIPEX and carries a commitment of...
Read MessageADES wins two-year jackup contract with Seplat Energy in Nigeria
ADES Holding secured a two-year offshore drilling contract with Seplat Energy Producing Nigeria Unlimited for the jackup Shelf Drilling Victory, with two optional one-year extensions. The contract, valued at approximately $92.7 million for the firm term including mobilization and demobilization fees, is expected to commence in the second half of 2026 following completion of the...
Read MessageBaker Hughes, Halliburton, SLB win Equinor drilling and well services contracts on Norwegian shelf
Equinor awarded integrated drilling and well services contracts valued at NOK 8.3 billion to Baker Hughes Norge AS, Halliburton AS and SLB Norge AS on the Norwegian Continental Shelf (NCS). The awards represent one-year option exercises under three existing contracts. Equinor also exercised two-year options under 18 corporate framework agreements for specialist services linked to...
Read MessageADNOC Drilling completes acquisition of 80% stake in MB Petroleum Services
ADNOC Drilling completed its acquisition of an 80% stake in MB Petroleum Services (MBPS), a drilling and oilfield services joint venture with MB Holding Company, with operations in Oman, Kuwait, Saudi Arabia and Bahrain. The transaction closed ahead of the original mid-year timeline. Under the agreement, ADNOC Drilling, through a wholly owned subsidiary, holds an...
Read MessageEquinor commits $1.6 billion to drilling activity on Norwegian Continental Shelf
Equinor has awarded $1.6 billion in drilling and well services contracts to sustain North Sea output, as new wells play a growing role in future production.
Read Message‘Misplaced euphoria’: Markets are sleepwalking into a recession amid Iran war oil price shock
As US equities hit fresh highs, strategists warn that investors are downplaying the impact of soaring oil prices.
Read MessageOPEC+ approves limited production increase after UAE departure
OPEC+ has agreed to a modest production increase following the UAE’s exit, though supply remains constrained by ongoing disruptions in the Strait of Hormuz.
Read MessageADNOC to award $55 billion in projects as UAE pushes oil growth strategy
ADNOC has unveiled a $55-billion project pipeline as the UAE moves to accelerate upstream growth following its exit from OPEC, signaling a major push to expand capacity and capture global demand.
Read MessageOil prices fall in choppy trade as Trump plans to 'free' ships stranded due to Mideast conflict
The United Kingdom Maritime Trade Operations agency said Monday that a tanker was hit by projectiles north of the city of of Fujairah in the United Arab Emirates.
Read MessageADNOC to award $55 billion in projects as UAE pushes oil growth strategy
ADNOC has unveiled a $55-billion project pipeline as the UAE moves to accelerate upstream growth following its exit from OPEC, signaling a major push to expand capacity and capture global demand.
Read MessageArgent LNG advances Port Fourchon export project with FERC filings
Argent LNG has advanced permitting for its proposed 25-MMtpa Port Fourchon export project, marking another step forward for U.S. LNG capacity growth.
Read MessageOPEC+ approves limited production increase after UAE departure
OPEC+ has agreed to a modest production increase following the UAE’s exit, though supply remains constrained by ongoing disruptions in the Strait of Hormuz.
Read MessageOPEC+ announces 188,000 barrels-per-day output increase in first meeting without UAE
Concerns around production were amplified further last week with news of the UAE's shock departure.
Read MessageEPA allows limited routine flaring at new oil wells under updated rule
The EPA will allow limited routine flaring at new oil wells beyond the 2026 phaseout deadline, offering operators added flexibility amid ongoing infrastructure constraints.
Read Message