ConocoPhillips uses Super Spudder rig to speed up drilling in Delaware Basin

ConocoPhillips is only days away from hydrocarbon exploration activities in the Otway Basin off the coast of Australia, which will be undertaken by a semi-submersible rig owned by Transocean, an offshore drilling player. Credits: Transocean #rig #reos #offshoredrilling #rigequipmentandoffshoresolution

Unit Corporation Announces Sale of Its Contract Drilling Business to Cactus Drilling for $120M. Read More Upstream News: https://lnkd.in/g_m_BmSX #oilandgas #drillingandexploration #upstream

Free article from Houston Business Journal Exxon and Chevron continue to drill despite WTI oil prices hovering in the low $60s, emphasizing their commitment to long-term projects spanning 15 to 20 years rather than reacting to short-term fluctuations. In Q3, Exxon reported record production from the Permian Basin at 1.7 million barrels of oil equivalent per day (boe/d) and 700,000 barrels per day from Guyana. However, net income decreased by 12% to $7.55 billion, with revenue down 5% to $85.3 billion. Chevron also achieved a record production of 4.1 million boe/d following its acquisition of Hess. Its net income fell by 20% to $3.54 billion, while revenue decreased by 2% to $49.7 billion. Chevron is ramping up exploration efforts with a new hire. Exxon CEO Woods emphasizes the importance of continued investment, stating, “If you stop investing, supply declines fast.” Looking ahead, the outlook for the Permian Basin indicates flattish capital expenditures, leading to plateaued growth, although the basin remains responsive to price changes. #Energy #OilAndGas #Houston

The Williston Basin still offers decades of drilling inventory, but only six to eight years of wells deliver competitive returns at mid-cycle prices. Novi Intelligence’s Q4 2025 report breaks down how breakevens climb from sub-$70/bbl today to nearly $100/bbl by 2030. Read the full blog post on Novi Intelligence, with the complete basin report available for subscribers.

Baker Hughes also signed a 'preferred services agreement' with Tamboran under which the Houston-based company will deliver oilfield services and efficiency improvements in Australia's Beetaloo Basin.

Despite oil prices being stuck in the low $60s, companies like ExxonMobil and Chevron still plan to drill. Some of the biggest Houston-area supermajors said they are working on long-term programs and won’t let short-term commodity price drops impact these plans. Thanks Ed Hirs for providing me some general context on what we can expect from these oil prices. Read more about what Exxon and Chevron reported in their Q3 earnings at the Houston Business Journal. #oilandgas #drilling #earnings #oilprice #WTI https://lnkd.in/gfBCvGWd

Oil prices may be in the low $60s, but Houston supermajors like ExxonMobil and Chevron aren’t slowing down. Their long-term drilling plans highlight Houston’s resilience and the region’s role as a hub for energy investment, jobs, and economic growth. Thanks to Ed Hirs for providing context on what these oil prices mean for the industry. Read more on their Q3 earnings in the Houston Business Journal!! #HoustonBusiness #EconomicGrowth #EnergyInvestment #OilAndGas #WTI #inspections #servicecompanies #structure

More Good Jackup News Momentum in the offshore drilling market continues to build as activity levels strengthen and contract discussions gain pace. We’re seeing growing signs of stability and confidence returning, with more rigs being extended or reactivated to meet steady demand. The trend points to a tightening market and improving fundamentals heading into 2026 — encouraging news for the global jackup segment: https://lnkd.in/g-5Jxmyq #OffshoreDrilling #EnergyMarket #OilAndGas #JackupRigs

How do you checkmate American oil companies to become the first African offshore drilling company, raising 1 billion dollar in funding? How do you play their game and beat them at it? Watch this powerful highlight from our conversation with Remi Okunlola.

ExxonMobil just delivered record-breaking Q3 results that are reshaping industry expectations. 📈 The numbers speak volumes: ✓ Guyana's Stabroek Block hit 700,000 barrels/day for the first time ✓ Permian Basin reached 1.7 million barrels/day ✓ Total production: 4.8 million boe/day ✓ Free cash flow: $6.3 billion quarterly Guyana's Game-Changing Performance The Yellowtail project came online four months early and 8% under budget. Daily production contribution: 250,000 barrels. With 30+ discoveries confirmed, the Stabroek Block now represents one of the most significant offshore finds in two decades. Permian Basin Excellence Technology drove the surge: Extended reach drilling with 10,000+ foot laterals, AI-powered production optimisation, 25% improvement in drilling efficiency, and breakeven prices at just $35-40/barrel. Financial Strength The results delivered across all metrics: 16% upstream earnings growth year-over-year, 12% reduction in unit operating costs, investment-grade credit profile maintained, and $9.3 billion returned to shareholders. ExxonMobil's systematic operational excellence and disciplined capital allocation continue setting industry benchmarks. These achievements position the company strongly for sustained growth through 2030 and beyond. Enjoy this summary? Hit the 'like' button to let us know. Stay up to date with energy sector developments by following this page. Read the full analysis of ExxonMobil's strategic production surge: https://lnkd.in/g8h9NQ4U