Industry News

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. […]

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

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

Europa Oil & Gas signed a binding farm-out agreement covering the EG-08 production sharing contract offshore Equatorial Guinea, securing a partner ahead of planned exploration drilling.Under the agreement, Europa will farm out a 40% working interest in the EG-08 block to APCL. The transaction is structured to support the drilling of the Barracuda exploration well,

Saipem agreed to extend the amended bareboat charter for the seventh-generation drillship Deep Value Driller through 31 July 2026, maintaining the vessel’s availability for deepwater well programs. The extension covers a firm period of 31 days with options to prolong charter further into 2027.In addition to the charter extension, the parties agreed to prolong the

Helix Energy secured a multi-year contract with a major operator for riserless plug and abandonment (P&A) operations on up to 34 subsea wells in the UK North Sea. The awarded scope of work is scheduled to start in 2026 and includes the flushing and disconnection of pipelines and well P&A.Helix expects to use Helix-owned assets

Odfjell Drilling signed a contract with Equinor for use of the semisubmersible Deepsea Aberdeen to drill an unspecified scope in an interim period on the Norwegian Continental Shelf, before moving to the Fram Sør project offshore Norway.The work will begin in Q4 2026 in direct continuation of Deepsea Aberdeen’s current contract with Equinor and is

Dana Gas made a new gas discovery after drilling the North El-Basant 1 exploratory well onshore in Egypt’s Nile Delta. Early results from the well indicate 15–25 billion cu ft of recoverable gas, and production is expected to exceed 8 million cu ft per day once the well is connected to Egypt’s national network.The discovery

Block Energy received a non-binding farm-in offer from a major energy company that would carry a full appraisal program across the Patardzueli–Samgori area of Project III in Georgia. The proposal follows extended technical work between the companies and outlines a multi-well sequence of re-tests, sidetracks and reservoir data acquisition.The appraisal scope includes three historical well

Wood’s joint venture company, Massy Wood, was awarded the engineering, procurement, construction (EPC) and commissioning contract associated with the topsides brownfield development of BP’s Juniper platform, as part of the Ginger development located off the coast of Trinidad.Massy Wood will deliver detailed brownfield engineering and execute critical topside upgrades on the Juniper platform. The scope

Arrow Exploration drilled the Mateguafa 6 well in the Tapir Block and placed it on production from the Carbonera C7 formation. The well was spudded on 8 November and reached 10,000 ft measured depth on 15 November. Arrow holds a 50% beneficial interest in the Mateguafa Attic field in Colombia’s Llanos Basin.The well was drilled

Oil India Limited has exercised its option to extend the contract for Dolphin Drilling’s ultra-deepwater semisubmersible rig Blackford Dolphin. The extension covers an additional 120 days of operations through 10 May 2026 and includes drilling, testing and abandonment work at locations east of India.The extension builds on the original campaign of three wells over approximately