The Latest

Patterson-UTI Boosts Bottom Line with OFS Acquisitions

Less than a year out from the closing of its merger with NexTier and its acquisition of Ulterra Drilling Technologies, Patterson-UTI is taking strides not to be the latest has-been.

E&P Highlights: Aug. 5, 2024

Here’s a roundup of the latest E&P headlines, including new oil discoveries and an implementation of AI technology in operations offshore United Arab Emirates.

The OGInterview: CEO Tom Jorden on Coterra’s ‘Meritocracy of Ideas’

Coterra Energy took an against-the-grain stance on consolidation long before merger mania hit the U.S. E&P space, and it’s paying—to its shareholders—meaningful dividends.

Ovintiv to Boost 2024 Free Cash Flow to Nearly $2B

Ovintiv management reported its on track to generate $1.9 billion in 2024 free cash flow but skirted a question about the company’s possible pursuit of Midland Basin E&P Double Eagle.

Big Barrels: Meet Ohio’s New Utica Oil Play

After a false start in the early 2010s that went underwater with overwhelmingly low oil and associated-gas prices, a new group of Ohio drillers is going after the Utica’s volatile oil window. They’re talking now. Here’s what they’re up to.

Disputed Delaware Basin Acres Excluded in Vital-Point Energy Deal

The 4,000 gross contiguous acres in northern Loving County are involved in litigation with Matador Resources, which the Texas Supreme Court ruled lost its lease.

Wood Mackenzie: OFS Costs Expected to Decline 10% in 2024

As service companies anticipate a slowdown in Lower 48 activity, analysts at Wood Mackenzie say efficiency gains, not price reductions, will drive down well costs and equipment demand.

E&P Highlights: July 29, 2024

Here’s a roundup of the latest E&P headlines including Energean taking FID on the Katlan development project and SLB developing an AI-based platform with Aker BP.

International, Tech Drive NOV’s 2Q Growth Amid US E&P Headwinds

Despite a U.S. drilling slowdown, slightly offset by Permian Basin activity, NOV saw overall second-quarter revenue grow by 6%, although second-half 2024 challenges remain in North America.

AI & Generative AI Now Standard in Oil & Gas Solutions

From predictive maintenance to production optimization, AI is ushering in a new era for oil and gas.