Category: Oilfield Service

ExxonMobil and SOCAR have moved from study agreements to a 50/50 production-sharing contract for unconventional oil and gas in Azerbaijan’s Middle Kura Basin.

Clark Savage346

The deal, exchanged on September 26, 2026, at the Second Azerbaijan International Investment Forum in the presence of President Ilham Aliyev, makes ExxonMobil the operator and still needs parliamentary ratification. It is the first time a U.S. supermajor has taken operatorship of an onshore unconventional program in Azerbaijan. The country has spent three decades built […]

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Why Alaska Matters, Energy Independence, Critical Minerals, and National Security

Clark Savage463

Bernadette Wilson, Alaska Republican for Governor, stops by the Energy News Beat Podcast. Alaska is not a remote afterthought. It is one of the United States’ most strategically important resource bases for energy security, defense-critical minerals, and food supply. For two decades, its oil output declined as legacy North Slope fields matured and new projects […]

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U.S. Weekly Rig Report: WellDatabase, Baker Hughes, and Enverus Compared — Record Production Meets Middle East Supply Shock

Clark Savage869

The latest WellDatabase U.S. Rig Report dated September 11, 2026, shows 598 active rigs, down 32 week-over-week but up 22 year-over-year. Baker Hughes, which released the same day, reported 591 rigs, up 3 from 588 the prior week and up about 52–54 from 537 a year earlier. Enverus’ daily GPS-tracked count stood near 661 as […]

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Weekly Rig Report: Baker Hughes Flat at 588, WellDatabase at 601 After a North Dakota Reclass, Enverus Still Running Higher

Clark Savage567

The three major U.S. rig tallies are telling the same structural story and three different weekly headlines. Baker Hughes held unchanged at 588 for a second straight week. WellDatabase printed 601, down 30 week over week but up 23 year over year. Enverus’s GPS-based daily count continues to run well above both weekly censuses, last […]

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Mike Wirth framed Chevron’s new $7 billion Venezuela commitment as a “win-win-win” during a Bloomberg Television interview from Caracas: better heavy crude for U.S. Gulf Coast refiners, stronger energy security, and fresh investment and jobs for Venezuela.

Clark Savage702

The September 2, 2026 sit-down with Tyler Kendall came the same day Chevron announced updated joint-venture agreements with PDVSA. The company will invest more than $7 billion over five years across three existing ventures, add acreage in the Orinoco Belt’s Carabobo area, and target more than 600,000 barrels per day of production—more than triple the […]

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