Category: OFS

UK Moves to Ban New North Sea Oil and Gas Licenses Permanently – UK Deindustrialization and further fiscal failure on the horizen

Clark Savage31

The UK government has confirmed it will introduce legislation to permanently ban new North Sea oil and gas exploration licenses, embedding Energy Secretary Ed Miliband’s existing moratorium into law through the Energy Independence Bill. The move, announced in the King’s Speech on 13 May 2026, fulfills a core Labour Party manifesto pledge to position Britain […]

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US Weekly Rig Operator Report

Clark Savage31

Week Ending May 8, 2026 U.S. Rig Count Edges Higher for Third Straight Week The Baker Hughes U.S. rotary rig count rose by 1 rig to 548 for the week ending May 8, 2026. Here is the Full WellDatabase Weekly Report We recommend getting a Subscription at WellDatabase! This marks the third consecutive weekly increase […]

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NOV Reports Q1 2026 Earnings: Revenue Holds Steady at $2.05 Billion Amid Middle East Disruptions; Management Eyes Multi-Year Capital Equipment Cycle

Clark Savage41

Houston, TX – April 29, 2026 – NOV Inc. (NYSE: NOV), a leading provider of oilfield equipment and technologies, reported first-quarter 2026 results that reflected resilience in its diversified portfolio despite significant headwinds from the ongoing conflict in the Middle East. Consolidated revenues reached $2.05 billion, a 2% decline from the prior-year period, while net […]

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Baker Hughes Q1 Revenue Beats Estimates by $260 Million as LNG Order Surge

Clark Savage77

Houston-based energy technology leader Baker Hughes (NYSE: BKR) delivered a strong start to 2026, posting first-quarter revenue of $6.59 billion — beating Wall Street estimates by approximately $260 million — driven by a record surge in Industrial & Energy Technology (IET) orders fueled by liquefied natural gas (LNG), power generation, and energy infrastructure demand. The […]

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US Oil Executives Meet Venezuela President and What Does This Mean for Investors and Consumers?Energy News Beat

Clark Savage79

In a notable development for global energy markets, a group of U.S. oil executives traveled to Caracas last week for direct talks with Venezuela’s acting President Delcy Rodríguez. The meeting, reported by Bloomberg, occurred as the Trump administration continues its aggressive push to revive Venezuela’s long-dormant oil sector following the January 2026 ouster of former […]

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US Rig Count Down Slightly This Week

Clark Savage62

Houston, TX – April 21, 2026 – The latest U.S. rotary rig count data shows a modest pullback in drilling activity. According to Baker Hughes, the total U.S. rig count for the week ending April 17, 2026, stands at 543 rigs, down 2 rigs week-over-week from 545 the prior week. Oil-directed rigs slipped by 1 […]

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