U.S. drilling activity showed mixed signals this week as different rig count providers reported divergent weekly moves against a backdrop of solid year-over-year gains. The latest WellDatabase US Rig Report (dated July 24, 2026) puts the active U.S. rig count at 575, up 1 from the prior week and up 47 from a year earlier. […]
Continue Reading
Matador Resources Company (NYSE: MTDR) announced on July 23, 2026, a pair of strategic bolt-on acquisitions in the Delaware Basin totaling approximately $1.475–$1.48 billion. The larger deal involves the purchase of Paloma Permian LLC, an EnCap Investments portfolio company, for $1.275 billion in cash. A smaller complementary transaction with Ridge Runner Resources II LLC (also […]
Continue Reading
Oil markets are back on edge. Brent crude has surged above $90 per barrel for the first time in weeks, driven by a fresh attack on a Kuwaiti tanker in the Strait of Hormuz and renewed fighting between the United States and Iran. Early Tuesday (July 21, 2026), the UK Maritime Trade Operations (UKMTO) reported […]
Continue Reading
ENB Pub Note: This article was first run on RHG Phoenix Petroleum’s Blog. We will be interviewing them on the podcast soon. Halliburton executives signaled a positive outlook for North American oilfield activity in 2026 during the company’s second-quarter 2026 earnings release and conference call on July 21, 2026. The Houston-based oilfield services giant highlighted […]
Continue Reading
Incoming UK Prime Minister Andy Burnham is preparing to back increased North Sea oil and gas activity, including potential approvals for the Jackdaw gas field and Rosebank oil field, as part of an early policy push focused on energy security, jobs, and economic growth. Burnham, who formally took office today after succeeding Keir Starmer, has […]
Continue Reading
The latest WellDatabase US Rig Report (dated July 18, 2026) shows the U.S. active drilling rig count at 567, marking a solid +11 week-over-week (WoW) increase and +37 year-over-year (YoY) gain. This reflects resilient drilling activity amid a stable-to-rising trend over the past 12 months, with the count holding in the mid-to-high 500s range. Key […]
Continue Reading
In a development that echoes broader regional efforts to reduce vulnerability to the Strait of Hormuz chokepoint, ExxonMobil is emerging as a key partner in Iraq’s drive for energy self-sufficiency—particularly by ending its costly and geopolitically sensitive dependence on Iranian natural gas. Iraqi Prime Minister Ali al-Zaidi met directly with ExxonMobil CEO Darren Woods in […]
Continue Reading
Chevron Corp. is set to sign non-binding memorandums of understanding (MOUs) with the Iraqi government on Friday, advancing negotiations for major investments in two of Iraq’s key oil fields while joining efforts to develop pipelines that would allow Iraqi crude exports to bypass the vulnerable Strait of Hormuz. The move signals deepening U.S.-Iraq energy ties […]
Continue Reading
This was originally posted on American Bazaar Online. By Phil Cruver As AI data centers face rising power demands, abandoned oil wells are being repurposed into long-duration energy storage systems that could stabilize electric grids and create new economic value. The recent analysis “The Borehole Battery: From Liability to Long Duration Storage Asset” by Gilles […]
Continue Reading
ENB Pub Note: This article was written by Randy Green at RHG Phoenix Petroleum, and I found it very interesting. “U.S. shale overall is maturing, not collapsing. The real story is one of adaptation: capital discipline, consolidation, longer laterals, and now EOR/refracs to maximize what’s already been developed.” No, the Eagle Ford is not done […]
Continue Reading