Offshore drilling contractor Shelf Drilling has secured work for two of its jack-up drilling rigs in U.K. and Egypt, under new contracts and extensions worth collectively around $35 million.Shelf Drilling has signed a one-year extension for the Rig 141 in direct continuation of its current contract for operations in the Gulf of Suez, offshore Egypt.The rig is working for Gemsa Petroleum Company (Gempteco)…
U.S. oil and gas producer ConocoPhillips will cut 20-25% of its workforce as part of a broad restructuring, a company spokesperson said on Wednesday, after five sources told Reuters that CEO Ryan Lance detailed the plans in a morning video message…
Talos Energy has appointed Zachary B. Dailey as Executive Vice President and Chief Financial Officer (CFO), effective August 18, 2025.In addition, the company has appointed William R. Langin as Executive Vice President – Exploration and Development…
ConocoPhillips will sell its Anadarko Basin assets for $1.3 billion, the energy producer said on Thursday, after beating Wall Street estimates for second-quarter profit.Shares of the company rose nearly 2% in premarket trade.The asset sale, expected to close at the beginning of the fourth quarter…
Exxon Mobil and Chevron's recent major acquisitions raise a provocative question: does the U.S. still need two energy titans, or might it be more efficient for the two to join forces?An $800 billion combination would certainly evoke memories of Standard Oil…
Offshore drilling contractor Shelf Drilling has secured a one-year extension with Eni for its Key Manhattan jack-up rig.The total added contract value is approximately $29 million, and the rig is now committed until November 2026.According to Shelf Drilling…
Offshore drilling firm Shelf Drilling has secured a five-year extension with Saudi oil and gas giant Aramco for its High Island V jack-up drilling rig.The extension is in direct continuation of the rig’s current contract with Aramco, extending the commitment until July 2030…
ConocoPhillips beat Wall Street estimates for first-quarter profit on Thursday and said Chief Financial Officer Bill Bullock will retire after 39 years with the Texas-based oil and gas producer.The $22.5 billion acquisition of Marathon Oil has boosted ConocoPhillips' presence in the Permian…
ConocoPhillips beat Wall Street estimates for fourth-quarter profit on Thursday, as higher production helped offset lower crude prices, and expects 2025 to be a peak spending year for its long-term projects.The company expects capital expenditure in 2025 to be $12…
Wall Street expects U.S. oil and gas companies to keep a lid on spending in 2025 and keep their focus on generating shareholder returns, despite calls by President Donald Trump to 'drill, baby, drill.'Big Oil begins reporting fourth-quarter results this week…
Offshore drilling contractor Borr Drilling has secured a contract for its Norve jack-up rig for drilling operations in West Africa.The work, with a repeat customer whose name was not disclosed, is in direct continuation of the Marathon Oil contract and is estimated to begin in third quarter of 2025…
The oilfield service sector is poised for more consolidation in 2025, according to Deloitte's 2025 Oil and Gas Industry Outlook, with President-elect Donald Trump expected loosen regulations on the U.S. oil and gas industry.The uptick in deals…
U.S. oil and gas company ConocoPhillips has completed the acquisition of Marathon Oil Corporation in a $22.5 billion takeover deal.The $22.5 billion acquisition was first announced in May 2024 as an all-stock transaction, which includes $5.4 billion of Marathon's debt…
Offshore drilling contractor Shelf Drilling has received a notice of suspension for its High Island IV jack-up rig from Saudi Aramco.The suspension is for up to one year, according to Shelf Drilling, which added it has the right to market the rig during the suspension…
Oslo-listed oil and gas company Panoro Energy has signed a Production Sharing Contract (PSC) with the Government of Equatorial Guinea for offshore Block EG-23.Panoro now holds an 80% participating interest and operatorship of Block EG-23, and…
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