Industry News

Devon Energy and Coterra Energy agreed to merge in an all-stock transaction that will create a large-cap US shale operator with a diversified upstream asset base anchored by a leading position in the Delaware Basin.The combined company will operate under the Devon Energy name and be headquartered in Houston, while maintaining an operational presence in […]

Union Jack Oil outlined its upcoming drilling plans in its project update covering key onshore projects in the United States.In Oklahoma, the company’s Crossroads structural prospect is now scheduled for drilling in Q1 2026. The Crossroads well will target oil in the middle Ordovician Oil Creek Sand, a reservoir interval that has demonstrated productive potential

SLB was awarded two five-year contracts by Petroleum Development Oman (PDO) to supply wellheads and artificial lift technologies for operations in Block-6, Oman’s largest oil and gas concession.The contracts include the provision of low-pressure, high-pressure and thermal wellheads, as well as electric submersible pumps (ESPs) and progressive cavity pumps (PCPs). These solutions are expected to

Noble Corporation announced new contract awards for nine rigs worth approximately $1.3 billion of backlog, including a three-year contract for the harsh environment semisubmersible Noble GreatWhite, which will expand the Company’s existing Norway presence into the harsh environment floater market.New contract awards include the following:Noble GreatWhite was awarded a new three-year contract with Aker BP

Beacon Offshore Energy started oil and natural gas production from the Zephyrus field in the US Gulf of Mexico, following startup of the initial development well in late December 2025.The Zephyrus development is located in Mississippi Canyon Block 759, approximately 130 mi southeast of New Orleans, in water depths ranging from 3,100 to 3,600 ft.

Equinor and its partners have discovered oil in wildcat well 6507/8-12 S in production license 124 B on the Norwegian Continental Shelf. The well tested the Othello South prospect about 4 km north of the Heidrun field and approximately 240 km west of Sandnessjøen in the Norwegian Sea.Exploration well 6507/8-12 S was drilled by the

Vår Energi announced the completion of the appraisal well with two production tests on the Zagato structure in the Goliat Ridge discovery in the Barents Sea, confirming reservoir quality and adding recoverable volumes.The well was drilled approximately 7 km northeast of the Vår Energi-operated Goliat field. The production tests confirmed good quality reservoirs and oil

Patterson-UTI signed a multi-year agreement to lease two high-spec APEX 1500 drilling rigs to Archer. The rigs will support Archer’s operations in Argentina’s Vaca Muerta formation as part of its seven-rig contract with YPF that was announced in December 2025.The rigs will be provided from Patterson-UTI’s existing US fleet, and Archer will be responsible for

The Norwegian Ministry of Energy has offered 57 new production licenses to 19 companies on the Norwegian continental shelf in the APA 2025 licensing round. Of the total awards, 31 licenses are located in the North Sea, 21 in the Norwegian Sea and five in the Barents Sea. Each license includes a defined work program

Saipem will restart operations of the Perro Negro 7 jackup in Saudi Arabia beginning this month. The contract, which was awarded to Saipem in 2011 and extended in June 2023 for 10 years, was temporarily suspended for 12 months in 2024. The suspension period will be recovered at the end of the contract, extending its

Archer was awarded an integrated Plug and Abandonment (P&A) contract with Equinor for 30 subsea wells. The firm contract term is three years including two options each of two years, with an estimated total contract value up to $140 million for the 30 subsea wells.The fully integrated P&A program incorporates the planning scope including project

Transocean awarded a contract and an extension for two of its drilling rigs. Together, the fixtures total approximately $168 million of firm backlog.In Brazil, the ultra-deepwater drillship Deepwater Mykonos was awarded a contract with BP. The estimated 302-day campaign is expected to begin in Q3 2026 and contribute about $120 million in backlog, excluding additional