Drilling Archives -

Halliburton weathers Iran disruption, sees early North America rebound

April 21, 2026

(World Oil) – Halliburton signaled early signs of a North America recovery while maintaining international growth momentum, even as geopolitical disruptions weighed on Middle East activity in first-quarter 2026. The oilfield services provider reported revenue of $5.4 billion for the quarter, with net income of $461 million. While overall revenue remained flat year-over-year, the company pointed to improving fundamentals in key

Transocean adds $445 million backlog with Petrobras drillship extension

April 15, 2026

(World Oil) – Transocean has secured a long-term contract extension with Petrobras for its ultra-deepwater drillship Deepwater Corcovado, adding approximately $445 million to the company’s backlog. The 1,156-day extension will begin in direct continuation of the rig’s current work offshore Brazil and is expected to keep the drillship contracted through November 2030. The award reflects continued demand for high-specification ultra-deepwater drilling capacity in Brazil’s

Permian holds 55,000 sub-$50/bbl drilling locations, analysis finds

April 15, 2026

(World Oil)– The Permian basin continues to reinforce its position as the lowest-cost U.S. shale play, with an estimated 55,000 drilling locations capable of breaking even below $50/bbl, according to new analysis from Enverus Intelligence Research (EIR). The estimate represents roughly 10% year-over-year growth, driven by ongoing resource delineation, improved well performance and continued cost efficiencies. The sub-$50/bbl inventory is

Trump administration to reunite offshore drilling agencies split after Deepwater Horizon spill

April 6, 2026

(World Oil) – The U.S. Interior Department said it’s merging two oversight agencies to create a Marine Minerals Administration and move toward a “more modern, coordinated approach” to managing offshore resources, including critical minerals. The goal is to “improve coordination and increase efficiencies across offshore leasing, permitting, inspections and environmental oversight, while maintaining all existing regulatory protections and rigorous safety standards,”

Weatherford to shift domicile to Texas in move to streamline structure

April 3, 2026

(World Oil) – Weatherford International has proposed relocating its legal domicile to the United States, with Texas set to become its new corporate home as the company looks to simplify its structure and improve financial flexibility. The move would shift the company’s parent entity from Ireland to Texas, aligning its legal structure more closely with its operational base in Houston and

Liberty Energy raises $525 million in convertible notes to boost financial flexibility

April 1, 2026

(World Oil) – Liberty Energy Inc. has raised $525 million through a private offering of 0.00% convertible senior notes due 2032, marking its second such financing move this year as the company looks to maintain financial flexibility. The notes were sold to qualified institutional buyers under Rule 144A. In connection with the offering, Liberty also entered into privately negotiated capped-call transactions

SLB, Azule Energy expand digital platform to optimize Angola operations

March 31, 2026

(World Oil) – SLB has signed a three-year agreement with Azule Energy to expand deployment of its Delfi digital platform across the company’s operations in Angola, aiming to improve execution efficiency and streamline upstream workflows. Azule Energy—an Angola-based joint venture between bp and Eni—is the country’s largest independent producer, operating a portfolio of complex offshore assets. The expanded agreement builds on earlier use of the Delfi platform within

Baker Hughes secures Petrobras turbomachinery services deal for Brazil offshore operations

March 18, 2026

(World Oil) – Baker Hughes has secured a 60-month services agreement with Petrobras to support critical turbomachinery across Brazil’s offshore production system and refining operations. The contract covers maintenance, repair and engineering advisory services for up to 64 aeroderivative gas turbines, including LM2500 and LM6000 units deployed across approximately 19 floating production, storage and offloading (FPSO) vessels, as well as at the Replan refinery

IOG Resources III backs $125-million drilling program in Powder River basin

March 17, 2026

(World Oil) – IOG Resources III has closed a $125-million joint development partnership to fund an 18-well horizontal drilling program targeting the Niobrara formation in Wyoming’s Powder River basin. The program is located in Converse County and represents the platform’s first investment under IOGR III. The undisclosed operating partner will execute the drilling campaign, which adds to ongoing development activity in one of the Rockies’

ExxonMobil, Halliburton deploy closed-loop automated drilling in Guyana

March 16, 2026

(World Oil) – ExxonMobil and Halliburton have completed what the companies describe as the industry’s first fully automated closed-loop geological well placement system during offshore drilling operations in Guyana. The project integrated rig automation, automated subsurface interpretation and geosteering, and real-time drilling optimization into a single digital workflow designed to improve well placement accuracy and operational efficiency. Halliburton deployed its LOGIX™ orchestration platform alongside

Higher oil prices will not spur more US production, oilfield services company Patterson-UTI says

March 11, 2026

(Investing) – HOUSTON – A surge in energy prices caused by the U.S.-Israel war with Iran will not lead to additional U.S. oil output without the market predictability needed to ensure more drilling, Andy Hendricks, CEO of oilfield services company Patterson-UTI, said on Tuesday. Oil prices have swung wildly since the end of February after Iran shut the Strait of Hormuz,

bp ramps up shale drilling, targets 650,000 boed output by 2030

February 26, 2026

(World Oil) – bp Plc is aggressively expanding shale drilling, bucking the conservative approach of many rivals, as the UK oil giant seeks to reverse years of anemic output. The company’s BPX Energy unit plans to increase production from shale fields by 8% this year, BPX Chief Executive Officer Kyle Koontz said during an interview in Houston. Shale output equivalent to 500,000 bpd would make

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