Drilling & Completion
Rig counts, drilling activity, completion techniques, and oilfield services.
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Latest Drilling Stories
Woodside and PEMEX begin drilling at Trion Field in Gulf of Mexico
Woodside Energy, in partnership with PEMEX, has launched a drilling campaign at the Trion Field in the Gulf of Mexico. The campaign involves drilling 24 subsea wells connected to a floating production unit with a capacity of 100,000 barrels per day. The project is expected to generate over $10 billion in taxes and royalties for Mexico over its lifetime.
Turan Drilling and Engineering secures $1 billion offshore contract in Caspian Sea
Turan Drilling and Engineering Company, a joint venture with Helmerich & Payne, has secured a five-year offshore operations and maintenance contract from bp in the Caspian Sea, effective March 2026. The contract could exceed $1 billion if all extension options are exercised. TURAN will provide services for eight offshore platforms, enhancing operational collaboration with bp.
Velesto secures $16.5 million drilling contract with Jadestone offshore Malaysia
Velesto has secured a $16.5 million drilling contract from Jadestone Energy for operations at the East Belumut field offshore Malaysia. The contract involves the NAGA 8 jack-up rig and is set to commence in March 2026, lasting four months. Jadestone's infill program has previously increased field output and reserves significantly.
Big Oil shifts focus from buybacks to growth and drilling
Oil supermajors are prioritizing growth and drilling after years of focusing on shareholder returns. Analysts note a renewed emphasis on expanding oil reserves, with companies like Shell and BP planning acquisitions and new discoveries. This shift comes as the International Energy Agency revised its outlook on oil demand, indicating a long-term future for oil and gas.
Turkey sends deep-sea drilling ship to Somalia
Turkey has dispatched its deep-sea drilling ship to Somalia, marking its first overseas drilling mission. This initiative reflects Turkey's expanding interests in international oil and gas exploration.
Birchcliff focuses on disciplined Montney drilling strategy
Birchcliff's 2025 drilling strategy in the Grande Prairie Montney emphasizes disciplined, infrastructure-led development. The approach includes multi-well pads and concentrated rig usage, prioritizing efficiency over volume growth to optimize returns.
bp targets 650,000 boed output by 2030 through shale drilling expansion
bp Plc plans to increase shale production by 8% this year, aiming for 650,000 bpd by 2030. This output will represent about 20% of the company's total production. The strategy comes as bp seeks to recover from previous production declines and improve its financial position.
Grounded Lithium begins drilling first oil and gas well in Saskatchewan
Grounded Lithium Corp. has commenced drilling its first oil and gas well in Marsden, Saskatchewan, as part of a two well program. This initiative aims to enhance the company's near-term cash flow strategy.
Shell begins drilling campaign at Mina West project in Egypt
Shell initiates a drilling campaign in Egypt with two exploration probes following the completion of development wells at the Mina West project. This marks a significant step in exploration efforts in the region.
Dolphin Drilling and Vantris sign marketing deal for Blackford Dolphin rig
Dolphin Drilling Offshore and Vantris Energy have entered a marketing agreement for the Blackford Dolphin semi-submersible rig. Vantris will market the rig in Southeast Asia, including Indonesia, Malaysia, Myanmar, Thailand, and Vietnam. The Blackford Dolphin can operate at depths of up to 6,000 feet and drill up to 30,000 feet.
U.S. active drilling rigs decline to 550, Permian adds 1 rig
The U.S. active drilling rig count decreased to 550, down 1 from the previous week and down 43 from a year ago. The Permian Basin saw an increase of 1 rig, bringing its total to 240, while Texas remained flat at 230 rigs. Overall, the U.S. count has increased from 545 at the start of the year.
US rig count returns to growth due to increased oil drilling activity
The US rig count increased in the first week of March, reflecting a rebound in oil drilling activity. Data from Baker Hughes indicates a positive trend in the oil sector as drilling gains return.
Olenox Industries begins 10-well drilling program and pipeline relaunch
Olenox Industries initiates its 2026 drilling program, planning to drill one well by the end of Q1 and three wells each subsequent quarter. The company is also preparing to recommission its 162-mile pipeline, expected to be fully operational by Q3 2026. Olenox aims to achieve a production target of 1,000 BOE per day by year-end.
Borr Drilling secures contract extensions and new assignments for jack-up rigs
Borr Drilling Limited has secured contract extensions and new assignments for several jack-up drilling rigs. The Ran jackup will work with Eni offshore Mexico from January to March 2026, while the Odin jackup is contracted from July to November 2026 with an undisclosed customer. Additional contracts include the Saga jackup with Brunei Shell Petroleum and the Grid rig with New Age Energy offshore Congo.
Smaller operators seek flexible partnerships with drilling contractors
Smaller, privately held operators face challenges in securing funding for exploration and production projects. They also encounter difficulties in negotiating rig contracts and payment terms with drilling contractors, as highlighted by Taiwo Olushina of Oriental Energy Resources during a panel at the IADC Drilling Africa Conference.
Borr Drilling updates on Arabian Gulf operations amid hostilities
Borr Drilling reports operational updates following recent hostilities in the Arabian Gulf, where it has four jack-up rigs deployed. The rigs in Qatar and the UAE have been down manned, and the Arabia III rig was safely shut down after an incident on a customer-operated platform. All personnel are accounted for and safe.
US Interior finalizes rule to expedite oil and gas drilling permits
The US Department of the Interior finalizes a rule to significantly reduce the time required for obtaining oil and gas drilling permits on federal lands. This change aims to streamline the permitting process, impacting the speed of new drilling operations.
Borr Drilling reports quarterly loss but adds five jack-up rigs
Borr Drilling reported a quarterly loss while adding five units to its jack-up rig fleet. The company anticipates improved demand for jack-up rigs this year.
US active drilling rigs remain steady at 551
The number of active drilling rigs in the US is unchanged at 551 for the week ending February 20, 2026. There is no variation in oil or gas drilling activity compared to the previous week.
Turkish Petroleum to start drilling Somalia well in April
Turkish Petroleum plans to begin the Curad-1 exploration drilling operation in Somalia in April. The operation will be protected by three naval vessels.
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