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.
Türkiye begins offshore drilling in Somalia with Çağrı Bey vessel arrival
Türkiye's deep-water drilling vessel Çağrı Bey is set to arrive in Somalia, marking the country's first offshore drilling operation. The initiative aims to explore significant oil reserves in Somalia's territorial waters, potentially enhancing the nation's energy sector and economic recovery. This move follows a cooperation agreement between Türkiye and Somalia to develop oil and gas resources.
U.S. Interior Department merges offshore drilling agencies into Marine Minerals Administration
The U.S. Interior Department merges the Bureau of Ocean Energy Management and the Bureau of Safety and Environmental Enforcement to form a Marine Minerals Administration. This reorganization aims to improve coordination and efficiency in managing offshore resources, including critical minerals, while maintaining existing regulatory protections. The move reflects a shift towards a more integrated approach to energy demands.
Halliburton acquires Sekal AS to enhance drilling automation services
Halliburton has acquired Sekal AS from Sumitomo Corporation to enhance its drilling automation services. This acquisition integrates Halliburton's LOGIX® automation with Sekal's DrillTronics® platform, aiming to improve well delivery times by up to 25% through advanced automation solutions. Sekal's technology has been deployed in over 1,300 wells globally, supporting the optimization of well delivery and reducing operational risks.
US shale firms unlikely to increase drilling despite $100 oil prices
Shale executives at CERAWeek state that oil prices above $100 a barrel won't lead to increased U.S. production unless sustained for over a quarter. Companies like ConocoPhillips and Repsol emphasize sticking to existing drilling plans and budgets, citing rising costs and maturing fields. Smaller producers also indicate they need consistent high prices for six to twelve months before considering increased activity.
North American drilling rig count decreases by 33 to 696
The North American drilling rig count decreased by 33 units to 696, primarily due to declines in oil-directed rigs. In Canada, the rig count fell by 24 to 153, with 95 drilling for oil. The US count ended at 543, down 9 from last week, with 409 oil-directed rigs.
Equinor starts drilling at Raia field in Brazil's pre-salt region
Equinor initiates a six-well drilling campaign at the Raia field in Brazil's pre-salt region, targeting production by 2028.
Sunda Energy and Finder Energy collaborate on offshore drilling in Timor-Leste
Sunda Energy and Finder Energy have signed a letter of intent to collaborate on securing a drilling rig for offshore campaigns in Timor-Leste. The joint effort aims to combine drilling activities for the Chuditch-2 appraisal well and Finder's KTJ development wells into a single campaign, extending rig utilization to around 200 days. Drilling for the Chuditch-2 well is now expected to begin in 2027, delayed from the previous target of Q2 2026.
Oman’s Block 50 offshore drilling operations delayed to May 2026
Rex International Holding's subsidiary Masirah Oil Limited has postponed the drilling of three development wells at the Yumna field in Oman to May 2026. This delay is from an earlier expectation of starting in the first quarter of 2026. The drilling aims to increase oil flow rates and extend the life of the offshore field.
EON Resources to start San Andres drilling program with five recompletions
EON Resources will initiate its 2026 development program by recompleting five vertical wells in the San Andres formation. This effort precedes a planned 92-well horizontal drilling campaign in the Permian basin, with initial drilling set to begin in Q2 2026. The company aims for an average production of around 400 bbl/d per well, with early output expected to reach approximately 500 bbl/d.
PV Drilling commissions new jack-up rig PV DRILLING IX for Southeast Asia operations
Petrovietnam Drilling & Well Service Corporation has commissioned the PV DRILLING IX jack-up rig in Ho Chi Minh City, with operations starting in April 2026. The rig enhances the company's fleet to seven units and is designed for drilling in water depths up to 129.5 meters. It aims to support drilling activities across Southeast Asia and contribute to national energy security.
Sonangol accelerates drilling program offshore Angola
Sonangol has accelerated its 2026 drilling program on Block 3/05, located 37 km offshore Angola. The program will begin with the Pacassa SW well, which could contain up to 210 million bbl of oil in place, followed by either a Pacassa SW injection well or the Impala-2 development well. The drilling is expected to enhance the understanding of the fields' potential and connect new wells to existing production infrastructure.
Borr Drilling to acquire five jack-up rigs for $287 million
Borr Drilling is set to acquire five jack-up rigs through a $287 million deal. The acquisition will occur via BC Ventures, a new joint venture formed with a partner in Mexico.
IOG Resources III funds $125-million drilling program in Powder River basin
IOG Resources III has secured a $125-million joint development partnership to support an 18-well horizontal drilling program in the Powder River basin, focusing on the Niobrara formation.
ExxonMobil begins Turrum Phase 3 drilling off Australia’s east coast
Esso Australia, a subsidiary of ExxonMobil, has commenced drilling for the Turrum Phase 3 project in the Gippsland basin. This $350 million investment will involve drilling five new wells to support the domestic gas market in Australia, with the project expected to be operational before winter 2027.
Vantage Drilling schedules 2025 earnings release and conference call
Vantage Drilling International Ltd. will host a conference call on March 26, 2026, to discuss its Fourth Quarter and Full Year 2025 operating results. The earnings release will be made available before the call on the company's website.
Precision Drilling schedules Q1 2026 results conference call
Precision Drilling Corporation plans to release its 2026 first quarter results on April 29, 2026, after market close. A conference call is scheduled for April 30, 2026, at 11:00 a.m. MT, allowing participants to ask questions after registration.
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.
Borr Drilling Limited - Contracting Updates
HAMILTON, Bermuda, April 1, 2026 /PRNewswire/ -- Borr Drilling Limited (NYSE and Euronext Growth Oslo: BORR) ("Borr Drilling" or the "Company") is pleased to announce new contract commitments for four of its premium jack-up rigs. In West Africa, the Prospector 5 has received a binding...
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.
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