Drilling Archives - Page 4 of 89 -

Halliburton names new EVP, COO, advancing global operations strategy

December 4, 2025

(World Oil) – Halliburton has promoted Shannon Slocum to executive vice president and chief operating officer, effective Jan. 1, 2026, marking a significant leadership shift as the company sharpens its focus on operational execution and long-term strategy. Slocum, who will also join Halliburton’s board of directors, will assume responsibility for global operations, business development, health, safety and environment (HSE), and worldwide technology.

Energy Advisors: Power and Energy Companies

November 18, 2025

(Oil and Gas 360) – Energy Advisors recently released its latest edition of its MarketMonitor series, which continues the theme emphasizing the role of traditional energy companies in building out more power for AI and data centers. Some “story-metric” AI companies have multi-billion-dollar market caps and don’t generate any revenue… and likely won’t for many, many years. Earlier, we laid the groundwork on the scale

Transocean adds $89 million in new offshore drilling options across three regions

November 18, 2025

(World Oil)– Transocean has secured approximately $89 million in new firm backlog after operators in Brazil, Norway and Romania exercised contract options on three of its floating rigs, the company announced. In Brazil, Petrobras exercised a 90-day option on the Deepwater Mykonos, continuing the ultra-deepwater drillship directly into its next campaign. The extension is expected to contribute about $33 million to backlog.

ADNOC taps U.S. shale expertise to unlock UAE’s unconventional gas potential

November 5, 2025

(World Oil) – The United Arab Emirates, long one of OPEC’s key oil producers, is pivoting to U.S.-tested fracing techniques to tap its “very promising” unconventional gas resources, with the intention of ramping up output amid forecasts for surging demand. Abu Dhabi National Oil Co. is tapping new sources of natural gas in its deserts and coastal waters to meet local

Comstock boosts Haynesville output, to sell East Texas assets for $430 million

November 4, 2025

(World Oil) – Comstock Resources Inc. reported higher third-quarter earnings on improved natural gas prices and continued strong drilling results in the Haynesville and Bossier shales, while moving forward with the sale of its Shelby Trough assets for $430 million (USD). Natural gas and oil sales, including hedging gains, rose to $335 million, generating $190 million in operating cash flow.

Oilfield giants pivot to booming AI infrastructure as drilling demand wanes

October 27, 2025

(BOE Report) – Oilfield services giants SLB, Halliburton and Baker Hughes are turning to data centers and related artificial intelligence infrastructure work to drive their next phase of growth as they navigate slowing drilling demand and idle rigs across North America. U.S. oil producers have cut exploration budgets as prices hover in the low $60s per barrel, pressured by rising

Oilfield services firm Petrofac collapses

October 27, 2025

(Oil Price) – After years of restructuring and cost-cutting efforts, UK-listed oilfield services group Petrofac on Monday filed for administration, following the termination of its biggest contract. Petrofac’s directors have applied to the High Court of England and Wales to appoint administrators to Petrofac, said the company, which provides infrastructure and engineering services to the oil and gas, renewables, and power supply industries.

Aramco awards Baker Hughes multi-year coiled tubing drilling contract

October 27, 2025

(World Oil) – Baker Hughes has secured a multi-year agreement from Aramco to significantly expand its integrated underbalanced coiled tubing drilling (UBCTD) operations across Saudi Arabia’s natural gas fields. The order, booked in the third quarter of 2025, will see Baker Hughes increase its active UBCTD fleet from four to ten units beginning in 2026. Under the new contract, Baker Hughes

Halliburton beats quarterly profit estimates on steady North America drilling demand

October 21, 2025

(BOE Report)– Halliburton beat Wall Street estimates for third-quarter profit on Tuesday, helped by steady demand for its oilfield equipment and services in North America. Quarterly revenue from its North America segment was $2.4 billion, flat from a year earlier, but above analysts’ average estimate of $2.17 billion. Halliburton said the results were supported by increased stimulation activity in U.S.

How one pipeline turned Canada into a global energy power

October 21, 2025

(Oil Price)– For years, Canada’s oil and gas sector was plagued by pipeline shortages that severely limited the country’s capacity for export and forced producers to sell at a major discount as storage capacity became maxed out across the nation. But all of that changed when the Trans Mountain Expansion project finally came online after years of delays on May

SLB exceeds profit expectations on strong North American demand

October 20, 2025

(Oil Price) – The world’s biggest oilfield services provider, SLB (NYSE: SLB), on Friday reported higher-than-expected earnings for the third quarter as revenue from its North American business jumped by 17% from the second quarter and by 14% from a year earlier. SLB booked adjusted earnings per share (EPS) of $0.69 for the third quarter, lower than the second quarter of 2025 and

Halliburton wins Petrobras contracts to enhance deepwater Brazil field performance

October 16, 2025

(World Oil)– Halliburton has been awarded multiple deepwater contracts by Petrobras to deliver vessel stimulation, intelligent completions, and safety valve systems across key offshore fields in Brazil, following a competitive tender process. Under the new agreements, Halliburton will deploy its SmartWell® intelligent completion technology in the Búzios field to enable real-time reservoir management and enhance production optimization. The company will

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