Occidental reported strong fourth-quarter 2025 production and cash flow, exceeded output guidance and reduced debt following its OxyChem sale, reinforcing its Permian-focused portfolio and balance sheet strength. SourceContinue Reading
Valaris has secured nearly $900 million in new contract awards and extensions across its global fleet, with fresh drillship work in Angola and Brazil and jackup demand strengthening across Southeast Asia, Australia and the North Sea. SourceContinue Reading
Venezuela’s oil production could increase by 30%–40% in 2026, or roughly 300,000–400,000 bpd, according to the U.S. energy secretary, as renewed operating licenses and growing international interest support efforts to revive the country’s upstream sector. SourceContinue Reading
SM Energy has agreed to sell 61,000 net acres and 260 producing wells in South Texas to Caturus Energy for $950 million, with proceeds expected to reduce debt and strengthen its balance sheet. SourceContinue Reading
Ovintiv has agreed to sell its Anadarko basin assets in Oklahoma for $3 billion, marking a major portfolio shift as the company focuses on core Permian and Montney positions. SourceContinue Reading
Saipem has reached an agreement to acquire the Deep Value Driller drillship for $272.5 million, expanding its offshore drilling fleet and strengthening deepwater capabilities. SourceContinue Reading
The offshore industry is marking the anniversary of the Ocean Ranger disaster, remembering the 84 crew members lost in 1982 and the lasting impact on offshore safety standards worldwide. SourceContinue Reading
Eni has discovered significant gas and condensate volumes offshore Côte d’Ivoire at the Murene South-1X well in Block CI-501, confirming the potential of the Calao channel complex. SourceContinue Reading
Guyana is moving forward with a second gas-to-shore project to transport natural gas from offshore fields for power generation and industrial development, supporting efforts to diversify its energy economy beyond oil. SourceContinue Reading
Condor Energies has reported a 5.3-MMscf/d test from a new well at the Kumli field in Uzbekistan, supporting field extension and ongoing gas development across its Central Asia operations. SourceContinue Reading
