Alaska is experiencing a genuine renaissance in its oil and gas sector. After decades of declining production that saw output fall from a peak of nearly 2 million barrels per day two decades ago to below 600,000 barrels per day in recent years, the state is poised for a significant rebound. Record-breaking lease sales, major […]
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The upstream oil and gas sector stands on the cusp of a transformative opportunity. According to fresh analysis from Rystad Energy, digitalization and artificial intelligence could generate nearly $500 billion in cumulative value for Exploration & Production (E&P) companies between 2026 and 2030. This windfall would come through three main levers: cost reductions via more […]
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The Delaware Basin, the western half of the mighty Permian, is buzzing with deal-making energy. According to Reese Energy Consulting’s May 21, 2026, update, “Looks like the Delaware this week is host of Party Central in Perm Town for upstream M&A and a midstream FID.” With crude prices volatile and recently tipping toward $100 per […]
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U.S. energy drillers added rigs at the fastest pace in years this week, with Baker Hughes reporting a solid +7 increase in the active rotary rig count to 558 for the week ending May 22, 2026. This marks the largest weekly gain in recent memory and extends a four-week streak of increases—the first such sustained […]
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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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The world is facing its most severe oil and gas supply crunch in history, triggered by the ongoing Middle East conflict and prolonged disruptions to flows through the Strait of Hormuz—the chokepoint carrying roughly 20% of global oil. What began in late February as a short-term geopolitical flashpoint has evolved into a structural crisis, with […]
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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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According to the Bloomberg article (May 4, 2026) and Diamondback’s Q1 2026 earnings release/letter to shareholders: The company is currently pumping >520,000 barrels per day of oil (3% above its original full-year 2026 guidance midpoint of ~505,000 bpd). It is raising full-year 2026 guidance to 520,000+ bpd oil and 972,000+ boe/d total (up from the […]
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In a stark warning to markets, CEOs from America’s largest oil companies say the global crude market is rapidly approaching a critical “cliff’s edge.” With the Strait of Hormuz effectively closed for months amid the ongoing U.S.-Israel conflict with Iran, commercial stockpiles, strategic reserves, and pre-war floating crude are being burned through at an alarming […]
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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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