drilling – Oil & Gas 360

ConocoPhillips seeks Venezuela compensation before resuming drilling

February 6, 2026

(World Oil) – ConocoPhillips Chief Executive Officer Ryan Lance’s priority in Venezuela is recouping billions his company is owed almost two decades after its oil projects were nationalized, rather than drilling new wells. Despite roughly $10 billion in favorable judgments from international arbitrators holding Venezuela liable for the seizures, the Houston oil giant’s efforts to recover all it’s owed have been

Africa set to lead global high-impact exploration drilling in 2026

January 28, 2026

(World Oil) – Africa is expected to remain the world’s most active region for high-impact oil and gas exploration drilling in 2026, driven by continued interest in ultra-deepwater and frontier basins, according to new analysis from Rystad Energy. Global high-impact wildcat drilling activity carried strong momentum into 2025, with discovery success rates rising to 38% from 23% in 2024. Total discovered volumes

Halliburton posts stronger Q4 margins as international activity offsets North America slowdown

January 21, 2026

(World Oil) – Halliburton reported a sharp sequential improvement in fourth-quarter 2025 earnings, driven by higher international activity and improved operating margins, even as North American stimulation activity declined. The oilfield services provider posted net income of $589 million, or $0.70 per diluted share, on revenue of $5.7 billion. Adjusted operating margin rose to 15%, reflecting improved activity mix and year-end tool

Shell, INEOS make new oil discovery in Norphlet play in U.S. Gulf

December 22, 2025

(World Oil)– Shell and INEOS Energy have made their first oil discovery in the Gulf of America after confirming hydrocarbons at the Nashville exploration well, a deepwater Norphlet find operated by Shell. The Nashville well, drilled in the Norphlet formation, was drilled more than five miles beneath the seabed and encountered high-quality oil in what the companies described as one of the

Seadrill wins new offshore drilling contracts in the U.S. Gulf and Angola

December 16, 2025

(World Oil)– Seadrill has announced a series of new contract awards in the U.S. Gulf of America/Mexico and offshore Angola, strengthening its backlog into 2026 and early 2027. In the U.S. Gulf, Seadrill’s West Neptune drillship was awarded a four-month contract by LLOG Exploration. The program is scheduled to begin immediately following the rig’s current campaign and is expected to

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.

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.

Aramco awards Baker Hughes multi-year coiled tubing drilling contract

October 24, 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

Three Crown Petroleum Announces Significant Progress in its Powder River Basin Drilling Program with Initial Production from 22,500-Foot Niobrara Horizontal Well and Expansion of Development Program

October 15, 2025

(Oil and Gas 360) – The Irvine 1NH well was recently completed and began producing on October 14th Expansion of the 2025 – 2026 drilling program announced across Johnson, Campbell, and Converse Counties with two additional wells expected to spud in November 2025 Three Crown is actively seeking reliable partners to participate in its Niobrara and Mowry drilling program for

Valeura boosts offshore Thailand output with 10-well Nong Yao drilling campaign

October 14, 2025

(World Oil)– Valeura Energy Inc. reported higher production and continued growth across its Thailand portfolio in the third quarter, driven by a ten-well drilling campaign at the Nong Yao field on block G11/48 in the Gulf of Thailand. The campaign lifted Valeura’s working interest oil production to 24,800 bpd by quarter-end, up from an average of 23,000 bpd in Q3,

ReconAfrica advances drilling at Kavango West 1X exploration well in Namibia

October 7, 2025

(World Oil)– Reconnaissance Energy Africa Ltd. (ReconAfrica) reports that drilling operations are progressing on schedule at the Kavango West 1X exploration well in Namibia’s Damara Fold Belt. The company has set its final casing string at a depth of approximately 2,300 m, just above the targeted Otavi carbonate reservoir, and is now drilling ahead into the primary objective. President and

Exclusive: ESal at EnerCom Denver – The Energy Investment Conference 2025

September 15, 2025

(Oil & Gas 360) – Publisher’s Note: You can view the EnerCom Denver—The Energy Investment Conference and the Energy Transition and Emerging Technology Series presenter replays for a limited time. ESal’s patented Engineered SalinityTM technology enhances oil recovery in both conventional and unconventional wells by engineering injection water salinity – without using chemicals. It is very low cost and offers guaranteed

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