Drilling Archives -

U.S. Steel invests $475 million to expand OCTG production capacity

June 24, 2026

(World Oil) – U.S. Steel has approved a $475 million investment to expand oil country tubular goods (OCTG) production capacity at its Fairfield Tubular Operations in Alabama, targeting growing demand from major U.S. oil and gas basins. The investment will fund the installation of a new quench and tempering (Q&T) line, adding internal heat-treatment capacity for tubular products and supporting the company’s strategy

Baker Hughes wins long-term support agreement for ANOH gas project

June 23, 2026

(World Oil) – Baker Hughes has been awarded a long-term service agreement by ANOH Gas Processing Company (AGPC) to provide lifecycle services and digital monitoring support for the ANOH Gas Processing Plant in Nigeria. The agreement covers maintenance, repair services, engineering support and digital monitoring for critical turbomachinery equipment at the facility, including two NovaLT 16 gas turbines. Baker Hughes will also

America’s second oil boom

June 22, 2026

(By Oil & Gas 360) – The next great American oil boom may not come from discovering a new basin. It may come from recovering more oil from fields that have already been producing for decades. For more than a century, the U.S. oil industry has focused on finding new resources. From the giant conventional fields of Texas and California to the

Alaska holds billions of barrels, but few bidders

June 18, 2026

(By Oil & Gas 360) – Alaska may hold some of the largest undeveloped oil and natural gas resources in North America, yet attracting the capital needed to develop them remains a persistent challenge. That contradiction is becoming increasingly apparent as policymakers seek to revive Arctic energy development while investors continue directing most of their dollars elsewhere. Despite renewed interest

Why oil and gas is becoming a data business

May 28, 2026

(By Oil & Gas 360) Part II – Oil and gas companies once measured competitive advantage in barrels, acreage, and reserves; now they are increasingly measuring it in processing power, analytics capability, and data quality. Because the next phase of the industry is not just about producing hydrocarbons more efficiently, it is about understanding markets, assets, infrastructure, and risk faster

Big oil reconsiders previously unattractive destinations

May 14, 2026

(Oil Price) – The Middle Eastern crisis has prompted a reprioritization among international oil companies. Previously unattractive drilling destinations are suddenly looking quite attractive—even Alaska. The oldest oil and gas producing part of the United States has for years been out of the spotlight as the industry moves to cheaper and faster-growing locations. The only news of any substance about Alaska

Halliburton awarded Greenland Energy Arctic drilling contract

April 27, 2026

(World Oil) – Halliburton has been awarded a contract by Greenland Energy Company to deliver integrated services for a planned 2026 onshore drilling campaign in Greenland’s Jameson Land basin. The scope includes well planning, drilling services and logistics coordination, placing Halliburton at the center of one of the basin’s first modern exploration programs. Located in eastern Greenland, Jameson Land is a frontier area with

Baker Hughes Q1 revenue beats estimates by $260 million as LNG orders surge

April 24, 2026

(Oil Price) – Giant oilfield services company, Baker Hughes (NYSE:BKR), has reported robust first quarter results, with Q1 2026 revenue of $6.59B (+2.5% Y/Y) beating by $260 million; Q1 non-GAAP EPS of $0.58 beat by $0.09 while adjusted net income of $573 million was good for 12% Y/Y increase. The growth was mainly driven by the Industrial & Energy Technology (IET) segment, where orders surged

Valeura charters jackup rig for multi-year drilling campaign in Gulf of Thailand

April 23, 2026

(Oil & Gas 360) – Publisher’s Note: Valeura Energy will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown, August 17-19, 2026. Register to attend. (World Oil) – Valeura Energy has secured a long-term offshore drilling rig to support continued development and exploration across its Gulf of Thailand portfolio. The company has chartered the Shelf Drilling Enterprise jackup rig for a three-year term through the end

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

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