Drilling NEWS

An offshore drilling platform stands in shallow waters at the Manifa offshore oilfield, operated by Saudi Aramco, in Manifa, Saudi Arabia, on Wednesday, Oct. 3, 2018.

Saipem has been awarded two new offshore drilling contracts, one in the Middle East and one in the Mediterranean Sea, for a total amount of approximately $550 million.

ADNOC Drilling Company PJSC confirmed the award of five 10-year contracts, totaling approximately $2 billion, in support of ADNOC Offshore’s growing drilling operations.

Borr and Shelf say capital returns to shareholders will be enabled by thriving market conditions

New oil and gas is needed, but source of financing to drill remains an issue

Southern ITS International, Inc. announced that its subsidiary, Pure Oil & Gas, Inc., is providing a Progress Report on its first well drilled in Eastland County, Texas.

Santos is optimistic that by year-end it will be able to resume development drilling at its US$3.6 billion Barossa giant gas field development offshore its native Australia; and the project will still be on track for start-up in the first half of 2025 without the budget being massively derailed, said chief executive Kevin Gallagher.

Club holding Halliburton (HAL) reported stronger-than-expected first-quarter results before the bell Tuesday, validating our investment in the oilfield services company as it capitalizes on years of underinvestment in drilling capacity.

ExxonMobil completed its initial exploration drilling program in Brazil after failing to find oil, according Reuters and the Wall Street Journal. However, the oil and gas company “continues to pursue exploration activity in the country.”

Even though drillers are flush with cash after record profits last year, U.S. producers are unlikely to accelerate oil growth enough to make up for OPEC+’s surprise cuts, analysts and executives said.

ADNOC Drilling Company has signed a five-year Memorandum of Understanding with Masdar, one of the world’s leading clean energy companies. Under the MoU, the companies will explore collaboration around development, investment, operations, and projects to responsibly advance the energy transition both in the UAE and globally.

Trillion Energy International Inc. has announced the preliminary gas indications from the West Akcakoca 1 well, the fourth well in our multi-well program at the SASB gas field, Black Sea, Turkey.

Block Energy, an exploration and production company focused on Georgia, announces initial results from the WR-B01Za well, part of the initial development phase of the West Rustavi/Krtsanisi Field, the Company’s Project I. The well was drilled into the Middle Eocene reservoir, targeting lineations interpreted on the 3D seismic survey to represent productive sweet spots with high density of oil-bearing natural fractures.

Rejuvenation of prolific offshore asset part of larger effort to extend the lives of mature fields and reduce dependence on imports

ADNOC Drilling Company PJSC announced its financial results for the fourth quarter and full year ending December 31, 2022. ADNOC Drilling’s revenue for the year increased to $2.67 billion, up a robust 18% compared to 2021. Year-on-year revenue growth was led by the Onshore and Oilfield Services (OFS) segments, while all segments achieved positive year-on-year performance as the company enables ADNOC’s accelerated production capacity target of 5 MMbpd by 2027.

Chief executive Kjetil Gjersdal reflects on the 50-year-old company’s evolution and its strategy for a changing energy landscape

Ukrainian forces have attacked a drilling platform in the Black Sea owned by a Crimean oil and gas company, Tass news agency cited local officials as saying on Sunday, the second strike in a week. The platform is operated by Chernomorneftegaz, which Russian-backed officials seized from Ukraine's national gas operator Naftogaz as part of Moscow's annexation of the peninsula in 2014. "It's shelling by the armed forces of Ukraine, there are no casualties," Tass cited a member of Crimea's emergency services as saying. It gave no further details. Last Monday Crimean officials said three people were wounded with seven missing after a Ukrainian strike that forced the suspension of work on three platforms. Chernomorneftegaz is under U.S. and European Union sanctions.

The new technology - Managed Pressure Drilling (MPD) proved to be beneficial in the state because conventional drilling could not be used in these geographical locations.