Drilling & Completion
Rig counts, drilling activity, completion techniques, and oilfield services.
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Latest Drilling Stories
Permian Basin holds ~55,000 sub-$50/bbl drilling locations
Enverus Intelligence Research estimates the Permian Basin has approximately 55,000 economically viable drilling locations under $50 per barrel, reflecting a 10% year-over-year growth. This expansion is attributed to high-quality resource additions and cost reductions. The report indicates that over 60% of the new oil resource is concentrated in emerging deep zones.
Equinor secures contractors for $1.8 billion drilling project
Equinor has secured 18 services companies to support its upcoming drilling operations. The project is valued at $1.8 billion.
Weatherford awarded contracts for offshore drilling and intervention in Brazil
Weatherford International has secured two contracts with Constellation Oil Services for offshore operations in Brazil, focusing on well intervention and drilling activities. The first contract enhances services on the Gold Star semisubmersible, while the second supports a drilling campaign in the Búzios Field. Both contracts reinforce Weatherford's presence in Brazil's deepwater market and are set to run through 2028 and 2030, respectively.
Vaalco brings latest Gabon well onstream after successful drilling
Vaalco has successfully brought its latest well in Gabon onstream after encountering a reservoir that exceeded expectations. This development marks a positive advancement in their ongoing drilling campaign in the region.
Greenland Energy targets two-well drilling campaign in Greenland
Greenland Energy plans a two-well onshore drilling campaign in Greenland this year. The campaign follows Halliburton's completion of a frontier exploration deal.
Greenland Energy partners with Halliburton for 2026 drilling campaign in Jameson Land Basin
Greenland Energy Company has signed an agreement with Halliburton for integrated consulting services and logistical management for its drilling campaign in the Jameson Land Basin. The partnership aims to enhance drilling accuracy and efficiency in Arctic conditions, with plans to drill two wells in 2026. The Jameson Land Basin is considered a promising unexplored oil basin, spanning approximately 2 million acres.
Expro acquires Enhanced Drilling for $215 million
Expro has announced the acquisition of Enhanced Drilling, a Norway-based offshore drilling services supplier, for $215 million. This acquisition aims to enhance Expro's capabilities in the drilling sector.
EnQuest awards 3-year drilling contract for Magnus
EnQuest has awarded a three-year drilling contract for the Magnus field, set to commence in the third quarter of this year.
Paramount Resources sells Fox Drilling to AKITA Drilling
Paramount Resources Ltd. has entered into an agreement to sell its Fox Drilling subsidiary to AKITA Drilling Ltd. for 19,264,270 voting common shares of AKITA. The transaction includes six triple drilling rigs and is expected to close in June 2026, pending shareholder approvals and other conditions. Paramount plans to distribute the AKITA shares to its shareholders, who will collectively hold approximately 33% of AKITA's outstanding shares post-transaction.
ADNOC Drilling acquires 80% stake in MB Petroleum Services
ADNOC Drilling completed its acquisition of an 80% stake in MB Petroleum Services, a joint venture with MB Holding Company, for $204 million. The deal includes 22 drilling and workover rigs across Oman, Kuwait, Saudi Arabia, and Bahrain, increasing ADNOC's total rig fleet to 170. MBPS results will be consolidated within ADNOC Drilling’s onshore segment starting from the closing date.
Valeura Energy charters Shelf Drilling's jack-up rig for Gulf of Thailand operations
Valeura Energy has signed a three-year agreement to charter the Shelf Drilling Enterprise jack-up rig for operations in the Gulf of Thailand, starting in Q4 2026. The rig will focus on production acceleration projects as Valeura aims to capitalize on a favorable rig market and enhance its drilling portfolio, which includes 57.8 million barrels of proved plus probable reserves.
US rig count declines due to drop in natural gas drilling
The US rig count decreased in the first full week of April, primarily driven by a decline in natural gas drilling activity. Data from Baker Hughes indicates a shift in drilling focus, impacting overall rig numbers.
Turkey starts drilling new wildcat in Black Sea
Turkish Petroleum begins drilling a new wildcat well approximately 130 kilometers east of Sakarya in the Black Sea. This initiative targets a gas prospect that could contribute to Turkey's energy resources.
Norway offers up to 70 new oil and gas drilling permits
Norway has announced the availability of up to 70 new permits for oil and gas drilling. This move aims to boost exploration and production activities in the region.
ExxonMobil and Energean sign contract for test gas drilling off Greece
ExxonMobil and Energean are set to sign a contract for the first test gas drilling off the coast of Greece in several years. This marks a significant development in the exploration of natural gas resources in the region.
EU energy ministers to discuss domestic gas drilling
EU energy ministers are set to discuss the topic of domestic gas drilling in an upcoming meeting. This conversation is part of broader efforts to address energy security and supply within the EU.
Oando plans $750 million drilling campaign
Oando announces a $750 million drilling campaign. The company anticipates a funding boost due to the ongoing turmoil in Iran.
Borr Drilling completes $300 million offering of convertible senior notes due 2033
Borr Drilling Limited has completed an offering of $300 million in convertible senior notes due May 1, 2033. The notes bear interest at 3.50% per annum and are convertible into common shares or cash. Proceeds will be used to repurchase existing convertible bonds due 2028 and for general corporate purposes.
Ensign Australia awarded drilling contract for Hussar well in EP513
Georgina Energy awarded Ensign Australia a contract to drill a re-entry well at the Hussar prospect in EP513, Australia. The drilling program will utilize an Ensign 970 ADR-1500 rig and is scheduled for Q3 2026, targeting a total depth of approximately 2,800 m over a planned 50-day program.
2026 IADC Drilling Africa Conference held in Windhoek, Namibia
The 2026 IADC Drilling Africa Conference & Exhibition occurred in Windhoek, Namibia from 24-25 February. Topics discussed included AI, geothermal drilling, sustainability, and automation.
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