Drilling & Completion
Rig counts, drilling activity, completion techniques, and oilfield services.
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Latest Drilling Stories
Harold Hamm halts Bakken drilling due to low oil prices
Harold Hamm, founder of Continental Resources, ceases drilling operations in North Dakota for the first time in over 30 years due to low oil prices. The average breakeven price for drilling in the Bakken is now at least $58 per barrel, while recent U.S. benchmark prices have rarely topped $60. Analysts predict that lower oil prices will reduce drilling activity across major basins, including the Permian.
Kosmos Energy updates on Ghana drilling and LNG project progress
Kosmos Energy successfully drilled the J-74 well in Ghana, expected to produce over 10,000 bopd. The company anticipates gross Jubilee production to reach nearly 70,000 bopd by early 2026. Additionally, the GTA LNG project in Mauritania and Senegal is operating at nameplate capacity, with cargo liftings expected to nearly double in 2026.
OEM strategies focus on transparency and collaboration to drive technology adoption in drilling
Jeff Fisher, VP at HMH, discusses the slow adoption of new technology in the drilling industry due to risk and cost concerns. He emphasizes the importance of transparency about risks and collaboration with stakeholders to enhance technology development, particularly in Managed Pressure Drilling (MPD) and Electric Blowout Preventers (BOPs). HMH is working to integrate MPD capabilities into risers to reduce operational costs and improve reliability.
Petrobras halts oil drilling near Amazon due to fluid leak
Petrobras has halted oil drilling off the coast of the Amazon region due to a fluid leak identified in auxiliary lines. The leak was contained and isolated, with plans for inspection and repair. This drilling project has faced opposition from environmental groups and Indigenous communities, despite government support for oil exploration.
ReconAfrica closes C$36.8 million offering to fund production testing and appraisal drilling
ReconAfrica completed an underwritten offering raising C$36.8 million to fund multi-zone production testing at the Kavango West 1X well and accelerate appraisal drilling. The offering included the issuance of 38,736,945 units at C$0.95 each, with BW Energy acquiring 2,315,780 units. Funds will also support operations at the Ngulu Block in Gabon.
Greenland plans first oil drilling in over a decade by 2026
Greenland Energy and 80 Mile PLC plan to drill two onshore wells in the Jameson Land basin by summer 2026, marking the island's first hydrocarbon drilling in over ten years. Independent estimates suggest the area could hold around 4 billion barrels of unrisked recoverable oil. The project faces significant logistical, regulatory, and economic challenges, including a lack of infrastructure and harsh Arctic conditions.
U.S. drilling productivity metrics improve across major basins
Drilling productivity metrics in the U.S. show improvements across major basins, including the Permian, Bakken, and Haynesville. The average output per rig has increased, indicating enhanced efficiency in drilling operations.
Vaalco Energy spuds ET-15 well in Gabon offshore drilling program
Vaalco Energy Inc. has spudded the ET-15 infill well on the Etame platform, initiating its phase-three drilling program offshore Gabon. The program includes multiple development wells and workovers at the Etame, Seent, and Ebouri platforms.
Seadrill secures multiple contracts for offshore drilling operations
Seadrill has announced contract awards for its drillships West Capella, West Elara, and West Carina. The West Capella will begin a well-based program in Malaysia in Q2 2026, valued at approximately $157 million. The West Elara has secured a contract with Equinor in Norway worth $78 million, while the West Carina's contract has been extended through April 2026.
Arabian Drilling extends three land rig contracts in Saudi Arabia
Arabian Drilling secured three contract extensions for land rigs in Saudi Arabia, adding 25 active rig years to its backlog. One rig is currently operating, another will return by January, and a third is set to resume in 2026. The extensions support sustained utilization across the company's land fleet.
Vital Energy expands drilling position in Alberta's Charlie Lake
Vital Energy expanded its upstream position in Alberta by acquiring 1,792 hectares of Crown petroleum and natural gas rights. This acquisition allows for up to 44 potential drilling locations targeting the Charlie Lake reservoir. The company plans to focus its future activities on this asset in the Grande Prairie region.
Transocean secures $168 million in contracts for drilling rigs
Transocean Ltd. announced a contract award and extension for two drilling rigs totaling approximately $168 million. The Deepwater Mykonos will begin a 302-day campaign with bp in Brazil, contributing about $120 million to the backlog. The Transocean Enabler will see an extension of 105 days of work in Norway, adding approximately $48 million to the backlog.
Turkey begins first deepwater drilling venture off Somalia
Turkey will commence its first deepwater drilling project in Somalia next month, following an energy exploration deal signed in 2024. The project aims to diversify Turkey's energy supply and reduce reliance on imports, despite challenges such as infrastructure and security in the region. Turkey's investment in Somalia reflects its broader strategy to enhance its presence in Africa.
Petronas completes first well in Suriname offshore drilling campaign
Petronas has completed the first well of a four-well drilling campaign in an offshore block in Suriname. The well, located in the western part of the block, produced encouraging results according to Staatsolie's early December release.
Iraq begins full drilling operations at Akkas gas field
Iraq has commenced full drilling operations at the Akkas gas field, led by Schlumberger and Midland Oil. The field, with 5.6 trillion cubic feet of proven reserves, aims for an initial production capacity of 100 million standard cubic feet per day, eventually targeting 400 million. This development is part of Iraq's strategy to reduce reliance on Iranian energy imports and stabilize its electricity sector.
Equinor begins drilling in North Sea from Visund
Equinor is set to start drilling wellbore 34/8-A-37 H from the Visund platform in production license 120 this month.
Japan protests China's gas drilling in East China Sea
Japan has lodged a protest with China over a mobile drilling vessel operating in the East China Sea, an area rich in gas deposits. The protest follows rising tensions between the two nations regarding territorial claims and resource development. Japan asserts that the median line should define their exclusive economic zones, while China claims a border closer to Japan.
ReconAfrica advances drilling projects in Namibia, Angola, and Gabon
ReconAfrica completed drilling its second well in Namibia's Damara Fold Belt, encountering significant hydrocarbons. The company expanded its acreage in Angola and offshore Gabon, preparing for production tests at Kavango West 1X in 2026. The partnership with NAMCOR and BW Energy aims to support hydrocarbon development in Namibia.
Borr Drilling secures new contracts for jack-up rigs in the Americas
Borr Drilling Limited announces new contract commitments for two jack-up rigs. The Ran rig has a one-well extension with ENI in Mexico for 75 days, while the Odin rig has secured a contract for two wells in the U.S., expected to start mid-2026. The Odin's contract activation allows for an additional six months of optional work starting January 2027.
Increased drilling needed to offset rapid declines from existing horizontal wells
U.S. crude oil production from existing wells declined by 4.3 million b/d from December 2023 to December 2024, necessitating the addition of over 15,000 new wells, primarily horizontal, which produced 4.4 million b/d. Natural gas production also saw a decline of 27.0 Bcf/d from existing wells, offset by new wells producing 28.0 Bcf/d, leading to an overall increase in production to 116.5 Bcf/d in December 2024.
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