Sunday, May 11, 2025

Rigs Shifting into Minor Basins, 2 Rigs Start Up in Alaska

Horizontal activity highest since February 2015 Drilling activity rose once again in the U.S. this week, extending the increase seen last week according to Baker Hughes Rig Count. A net three rigs began drilling in the week, all land-based. These three rigs mean there are a total of 1,056 land, 24 offshore and three inland waters rigs active in the

Oil Market Volatility will Continue into New Year: Analysts

By CNBC Energy analysts believe oil market volatility will continue until the build-up in U.S. crude stockpiles reverses. U.S. crude fell to an 18-month low on Monday, only to post its best one-day performance in more than two years on Wednesday. The oil market is under the thrall of macroeconomic factors that are weighing on the stock market and raising

Transocean Contracts to Supply Two Ultra-Deepwater Drillships to Chevron for Gulf of Mexico

$830 million contract Offshore drilling contractor Transocean Ltd. (stock ticker: RIG) has two opportunities in development with Chevron (stock ticker: CVX). Most recently, Transocean signed a rig design and construction management contract with Chevron USA, as well as a 5-year drilling contract. The contracts relate to one of Transocean’s two drillships under construction at the Jurong shipyard in Singapore, both

DJR Energy Closes Deal with Encana

Makes DJR the largest acreage holder in San Juan Basin core oil window   Yesterday, privately held Denver-based DJR Energy closed on its acquisition of Encana Corporation’s (stock ticker: ECA) non-core San Juan Basin assets in northern New Mexico. Source: DJR Energy The asset includes: Approximately 182,000 net acres, representing Encana’s total land position in the play. Average production of