Category: Oilfield Service

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

Clark Savage22

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 […]

Continue Reading

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 […]

Continue Reading

Haynesville Expansion Pushes into East Texas as Caturus, Aethon Seek New Inventory

Clark Savage18

The Haynesville-Bossier Shale play, long anchored in Northwest Louisiana, is redrawing its boundaries westward into East Texas. Operators are chasing fresh drilling inventory in the Shelby Trough and surrounding counties as core areas mature and Gulf Coast LNG demand surges. Leading the charge are Caturus Energy, Adamas Energy (formerly Aethon Energy), and other well-capitalized players […]

Continue Reading

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

Clark Savage39

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 […]

Continue Reading

Chevron CEO Mike Wirth Says Venezuela Must Do More for Oil Industry Revival

Clark Savage35

Houston-based Chevron Corporation remains the leading Western oil major active in Venezuela, but CEO Mike Wirth is calling for deeper reforms from Caracas if the country’s vast oil sector is to achieve meaningful revival. In comments reported by Bloomberg on April 26, 2026, Wirth acknowledged recent positive policy moves under Venezuela’s Hydrocarbons Law but stressed […]

Continue Reading

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

Clark Savage75

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 […]

Continue Reading

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

Clark Savage76

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 […]

Continue Reading

US Rig Count Down Slightly This Week

Clark Savage59

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 […]

Continue Reading