Drilling Archives -

Borr Drilling divests Mexico joint venture stake, retains three jackup rigs

September 15, 2026

(World Oil) – Borr Drilling has agreed to divest its 51% equity interest in Mexican joint venture Perfomex to its longtime local partner while retaining ownership of three jackup rigs currently working for Pemex. Following the transaction, Borr’s local partner will become the sole owner of Perfomex and assume responsibility for managing and operating the Galar, Gersemi and Njord jackup rigs.

Energy Holdings, Ventura Offshore sign LOI for $1 billion combination

September 11, 2026

(World Oil) – SED Energy Holdings Plc and Ventura Offshore Holding Ltd. have signed a letter of intent (LOI) for an all-share combination that would create a larger offshore energy services group with an implied pro forma equity value of approximately $1 billion. Under the proposed transaction, Energy Holdings would acquire 100% of Ventura Offshore’s outstanding shares. Ventura shareholders would

SLB to acquire Kelvion for $3.4 billion in data center infrastructure expansion

August 31, 2026

(World Oil) – SLB has agreed to acquire thermal management technology provider Kelvion for approximately $3.4 billion in cash, expanding the oilfield services company’s presence in data center infrastructure as artificial intelligence drives increased investment in power and cooling capacity. Under the agreement, SLB will acquire Kelvion from majority owner Apollo-managed funds and minority shareholder Triton. SLB will also assume approximately $700 million of debt.

SLB launches new artificial lift technologies for U.S. land operations

August 26, 2026

(World Oil) – SLB has launched two artificial lift technologies for U.S. land operations aimed at improving equipment life and production performance in mature and challenging well environments. The new technologies include Harbison-Fischer Deka diamond technology for rod pump barrels and the Synthetix hydraulic gas lift system. The systems address separate production challenges, including mechanical wear in rod-pumped wells and gas lift

bp awards Halliburton drilling services contract for Bumerangue appraisal

August 25, 2026

(World Oil) – bp has awarded Halliburton an integrated drilling services contract for the first appraisal campaign at the Bumerangue field offshore Brazil, as the operator moves to further evaluate its deepwater discovery. Under the contract, Halliburton will provide an integrated package of drilling and reservoir evaluation services aimed at supporting the appraisal program and improving operational efficiency. The scope will combine multiple Halliburton drilling and

Pemex and Petrobras bet big on high-risk high-reward drilling off Mexico

August 24, 2026

(Oil Price) – Mexico’s state oil firm Pemex and Brazil’s national oil company Petrobras are joining efforts and expertise to drill prospects in Mexican waters in the Gulf of Mexico, hoping to unlock huge oil resources from source rock formations that are miles deeper and eight times older than the currently producing formations in the U.S. Gulf. Exploration in the Jurassic

Enverus ranks top U.S. land drillers, operators for 2026

August 19, 2026

(World Oil) – Helmerich & Payne (H&P) and ExxonMobil led U.S. land drilling activity among contractors and operators, respectively, according to new rankings released by Enverus based on first-quarter 2026 data. H&P ranked as the most active U.S. land drilling contractor, recording 15.85 million ft of total drilled measured depth across 776 wells. Patterson-UTI Drilling ranked second with 9.51 million ft across 442 wells, followed by Nabors Industries with 6.55 million ft and Ensign Energy Services with 4.21

Baker Hughes sees modest decline in global oil spending

July 27, 2026

(Investing) – Baker Hughes (NYSE:BKR) said on Monday it expects global spending by oil and gas producers to decline modestly this year. The company said growth in Latin America, offshore Africa, and North America land will be offset by lower spending in Europe and the Middle East. The Middle East conflict has dominated energy markets this year. Repeated flare-ups in tensions between

SLB reports international growth as offshore activity offsets Middle East disruptions

July 24, 2026

(Oil & Gas 360) – Publisher’s Note: SLB will be a panel presenter and will host one-on-one meetings at EneCom Denver – The Energy Investment Conference at the Westin Downtown, August 17-19, 2026. Register to attend. (World Oil) – SLB reported higher second-quarter revenue as broad-based international growth, led by offshore activity, more than offset continued disruptions across the Middle East. Second-quarter revenue increased 5% year over year

Halliburton posts stronger Q2 on North America recovery

July 21, 2026

(World Oil) – Halliburton reported second-quarter 2026 revenue of $5.7 billion, up from $5.4 billion in the first quarter, as stronger North American stimulation and well construction activity helped drive sequential growth. Net income totaled $534 million, or $0.64 per diluted share, while operating income increased to $778 million. Chairman, President and CEO Jeff Miller said the company expects continued momentum in both international and

Baker Hughes closes Chart acquisition, adds third operating segment

July 16, 2026

(World Oil) – Baker Hughes has completed its acquisition of Chart Industries, expanding its portfolio of industrial energy technologies and establishing Chart as the company’s third operating segment. The acquisition adds Chart’s capabilities in thermal management, air and gas handling, and lifecycle services, broadening Baker Hughes’ presence across markets including LNG, gas infrastructure, carbon capture and storage, nuclear, geothermal and data centers. Chart

Halliburton expands role in Aramco’s unconventional gas program

July 15, 2026

(World Oil) – Halliburton has secured a multi-year contract from Aramco to provide integrated stimulation and completion services for unconventional gas development in Saudi Arabia’s Jafurah basin, supporting one of the world’s largest unconventional gas programs. The award is part of a broader multi-billion-dollar contract and expands Halliburton’s role in Aramco’s unconventional development program, where the company provides drilling, stimulation and completion services across multiple

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