Industry research, market reports, trend analysis, and intelligence relevant to Permian Basin and energy markets.
Chariot has secured economic exposure to offshore Angola production through a financed acquisition of stakes in Blocks 14 and 14K, gaining access to ~4,000 bpd net-equivalent output and long-term cash flow backed by Shell trading support.
Read MessageThe IADC Drilling Engineers Committee’s Q1 Technology Forum, “Is Drilling Engineering Evolving? How Is AI Enabling?” was held 26 March in Houston, Texas. A diverse group of industry experts shed light on various collaborative efforts, including formal Joint-Industry Projects (JIPs), university-led research and development programs, and broader initiatives within different industry forums such as the...
Read MessageSerica Energy acquired a 40% operated interest in the Greater Laggan Area (GLA) and associated infrastructure from TotalEnergies, along with operated license interests in four near-field exploration blocks on the UK Continental Shelf. The acquisition gives Serica a new operated hub in the West of Shetland basin with current net production of just over 5,000...
Read MessageReconnaissance Energy Africa (ReconAfrica) started production testing operations at the Kavango West 1X discovery well in Namibia. Updated petrophysical analysis increased net hydrocarbon pay in the Huttenberg formation to 75 m, up from a previously disclosed 64 m. Regulatory permits required to proceed with production testing have been received and work crews are on site...
Read MessageIndia takes a huge tax revenue hit as it cuts fuel excise duties to shield consumers from soaring oil prices caused by the Iran war.
Read MessageOil prices fell after Donald Trump said Iran had allowed 10 oil tankers to pass through the Strait of Hormuz.
Read MessagePetrobras has confirmed a new pre-salt oil discovery in the Campos basin offshore Brazil, identifying high-quality hydrocarbons at the Marlim Sul field as part of efforts to rebuild reserves in mature areas.
Read MessageA Turkish-operated tanker carrying roughly 1 MMbbl of Russian crude was damaged in a suspected sea-drone attack in the Black Sea, raising concerns over maritime security and energy flows near the Bosphorus Strait.
Read MessageSerica Energy has completed its acquisition of a 40% operated interest in TotalEnergies’ Greater Laggan Area assets, establishing a new operated hub West of Shetland with ~5,000 boed net production and multiple gas-focused growth opportunities.
Read MessageIran is maintaining crude exports near 1.6 MMbpd and capturing stronger prices as disruptions in the Strait of Hormuz sideline other Gulf producers, reshaping regional supply dynamics and boosting Tehran’s oil revenues.
Read MessageTrump said the U.S has "very substantial talks going on with respect to Iran," though Tehran has denied direct talks have taken place.
Read MessagePETROBRAS identified the presence of excellent-quality oil in the pre-salt of the Campos Basin offshore Brazil, following the drilling of an exploration well in the Marlim Sul field. The discovery was made at well 3-BRSA-1397-RJS, located approximately 113 km offshore in the municipality of Campos dos Goytacazes, Rio de Janeiro, in 1,178 m of water...
Read MessageJAPEX started drilling an exploratory well offshore Hokkaido as part of a program to confirm the presence of natural gas in the Hidaka area. The well was spudded on 24 March and is located approximately 50 km offshore in water depths of around 1,070 m, about 5 km northwest of a previously drilled location from...
Read MessageSonadrill, the joint venture between Seadrill and an affiliate of Sonangol, signed a contract extension for the ultra-deepwater drillship Sonangol Quenguela offshore Angola. The extension follows the exercise of a seven-well priced option, adding approximately 480 days of work and extending the rig’s contracted operations into June 2028. The drillship will continue supporting offshore drilling...
Read MessageForesea was awarded a new contract by Petrobras to operate the ultra-deepwater drillship ODN I offshore Brazil, adding approximately $465 million to its backlog. The contract, secured through a competitive tender process, covers a 1,443-day campaign supporting operations for the Mero consortium. Work is scheduled to begin in early 2027, following completion of the rig’s...
Read MessageReconAfrica has commenced production testing at its Kavango West 1X discovery in Namibia, targeting multiple hydrocarbon zones as it advances evaluation of the basin’s commercial potential.
Read MessageVantage Drilling’s return to profitability in 2025 reflects strengthening offshore fundamentals, with a previously awarded drillship contract adding to backlog and reducing forward execution risk.
Read MessageCNOOC reported record oil and gas production and reserves in 2025, supported by new discoveries, project startups and continued upstream investment across China and international assets.
Read MessagePetrobras has confirmed a new pre-salt oil discovery in the Campos Basin offshore Brazil, identifying high-quality hydrocarbons at the Marlim Sul field as part of efforts to rebuild reserves in mature areas.
Read MessageTenaris has acquired AllTorque’s oilfield division to expand its tubular running technology and rig floor services, enhancing well integrity, operational efficiency and OCTG capabilities in Canada.
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