MJ26_Markets1
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Industry Reports
Industry research, market reports, trend analysis, and intelligence relevant to Permian Basin and energy markets.
Nearly half of Middle East oil and gas assets beyond design life, study finds
Nearly half of oil and gas assets in the Gulf are operating beyond design life, as Strait of Hormuz disruptions intensify pressure on aging infrastructure, according to new IGS research.
Read MessageHalliburton weathers Iran disruption, sees early North America rebound
Halliburton says its global operations are holding up despite Iran-driven disruption in the Middle East, while early signs of a North America rebound point to a shifting upstream outlook.
Read MessageASCO wins new offshore and gas support contracts in Australia
ASCO has secured $33 million in contracts across Australia, supporting offshore decommissioning, logistics operations and gas development projects including the Waitsia gas plant.
Read MessageMental health services expand into Middle East to support offshore energy workforce
Mental health support is gaining traction as part of offshore HSE strategy, with new services expanding into the Middle East to support high-risk energy workforces.
Read MessageVAALCO advances Gabon drilling program, targets Q2 restart of Baobab offshore field
VAALCO Energy reports strong initial production from its Etame 14H well offshore Gabon, advances drilling at Ebouri, and progresses toward Q2 2026 restart of the Baobab FPSO offshore Côte d’Ivoire.
Read MessageA timeline of how the Iran war shook oil prices — and what comes next
Oil markets have whipsawed since the start of the Iran war, with supply risks around the Strait of Hormuz driving extreme price swings and historic volatility.
Read MessageEnsign 970 rig spuds Walyering West-1 for Strike Energy in Perth Basin
Strike Energy spudded the Walyering West-1 (WAW-1) exploration well in production license L23 in the Perth Basin of Western Australia on 15 April, using the Ensign 970 drilling rig. The well is located approximately 3 km from existing production infrastructure at the Walyering gas plant and targets Jurassic-aged conventional sandstone reservoirs within the Cattamarra Coal...
Read MessageVAALCO kicks off Ebouri drilling after strong Etame well result in Gabon
VAALCO Energy reported an initial flow rate of approximately 4,850 gross bbl/d from the Etame 14H development well offshore Gabon, and mobilized the rig to the Ebouri platform to continue its drilling campaign. The Etame 14H well, drilled in an attic position within the Main Fault Block of the Etame field, encountered 325 m of...
Read MessagePetrobras acquires operatorship of Block 3 offshore São Tomé and Príncipe
Petrobras signed an agreement to acquire a 75% interest and operatorship of Block 3 offshore São Tomé and Príncipe, Africa, from Oranto Petroleum. Petrobras resumed activities on the African continent in 2024 and already holds interests in blocks in São Tomé and Príncipe. The current consortium comprises Oranto as operator with a 90% interest and...
Read MessageOceaneering pilots ROV on drilling rig offshore Brazil from onshore base
Oceaneering completed the first piloting of a remotely operated vehicle (ROV) on a drilling rig offshore Brazil from its onshore remote operations center (OROC) in Macaé, in support of Petrobras operations. The company’s Subsea Robotics segment and Brazilian subsidiary Marine Production Systems do Brasil LTDA (MPS) conducted the operation, with an Oceaneering pilot remotely controlling...
Read MessageBP executive named OMV’s first female CEO
Emma Delaney, a BP executive vice president, was appointed CEO of Austrian energy company OMV, becoming the first woman to hold the role in the company’s history. OMV’s Supervisory Board formalized Ms Delaney’s appointment as chairwoman of the Executive Board and CEO on 21 April. She will succeed Alfred Stern, who will conclude his mandate...
Read MessageOil falls as investors assess mixed messaging on Iran peace talks ahead of ceasefire deadline
West Texas Intermediate and Brent had settled 7% and 5% higher on Monday.
Read MessageSable Offshore advances Santa Ynez output amid ongoing legal challenges
Sable Offshore is ramping production at its Santa Ynez Unit and targeting new output in 2026, while advancing refinancing plans and pursuing legal claims tied to its California operations.
Read MessageDeepsea Atlantic rig suspends operations after BOP incident offshore
Operations on the Deepsea Atlantic rig have been suspended after a blowout preventer (BOP) was dropped to the seabed during drilling activities, with recovery and investigation underway.
Read MessageTrump invokes Defense Production Act to boost U.S. oil, gas and infrastructure capacity
President Trump has invoked the Defense Production Act to accelerate U.S. oil, gas and infrastructure development, signaling a major push to boost domestic supply amid global disruption.
Read MessageHovercraft sale expands offshore oil and gas support capacity in Caspian Sea
Griffon Marine has sold its BHT-130 series hovercraft Solent Express to Caspian Offshore Construction (COC), where the vessel will support oil and gas operations in the North Caspian Sea.
Read MessageGhana targets $3.5-billion upstream investment to boost offshore development
Ghana is advancing a $3.5 billion investment drive to boost offshore oil and gas development, alongside broader plans to expand renewables and explore nuclear power.
Read MessageReconAfrica targets May start for Kavango West 1X zone testing
ReconAfrica has set the 5-in. production liner in the Kavango West 1X discovery well in Namibia, with perforating and production testing of six hydrocarbon-bearing zones expected to commence in early to mid-May. The testing program will cover approximately 420 m of hydrocarbon-saturated section across the Elandshoek and Huttenberg formations, with zones ranging from 45 to...
Read MessageTrump signals Iran truce unlikely as Strait of Hormuz remains blocked
President Donald Trump said a ceasefire extension with Iran is unlikely, with the Strait of Hormuz set to remain blocked, raising concerns over global oil supply and market volatility.
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