Transocean, Valaris agree to $5.8 billion merger

Transocean announced on 9 February it will acquire Valaris in an all-stock transaction valued at approximately $5.8 billion. The combination will result in a fleet of 73 offshore drilling rigs, comprising 33 ultra-deepwater drillships, nine semisubmersibles and 31 jackups.

Transocean said it believes that more than $200 million in incremental cost synergies can be achieved related to the transaction, along with more than $250 million in savings through the company’s existing cost reduction program.

Devon and Coterra to combine, forming US shale giant

Devon Energy and Coterra Energy agreed to merge in an all-stock transaction that will create a large-cap US shale operator with a diversified upstream asset base anchored by a leading position in the Delaware Basin.

The combined company will operate under the Devon Energy name and be headquartered in Houston while still maintaining an operational presence in Oklahoma City. The merged portfolio will include nearly 750,000 net acres in the core of the Delaware Basin, supported by more than 10 years of high-quality inventory, along with complementary assets across other US shale regions.

Chevron, Tenaris deals highlight Turkish E&P strategy

Turkish Petroleum (TPAO) signed a deal with Chevron to jointly explore for oil and gas, both onshore and offshore. The deal is part of Turkey’s efforts to reduce its reliance on oil and gas imports. It follows another agreement recently signed between TPAO and ExxonMobil affiliate ESSO Exploration.

Separately, TPAO also awarded two contracts to Tenaris for Phase 3 of the Sakarya Gas Project. The ultra-deepwater development is located in approximately 2,150 m of water in the Black Sea. The scope covers the supply of 10,000 tons of offshore drilling casing, as well as seamless and welded pipes for multiple applications.

Arabian Drilling appoints Fahad Al-Bani as CEO

Arabian Drilling Company has named Fahad Al-Bani as its new CEO. Mr Al-Bani holds nearly three decades of expertise in drilling engineering, unconventional resources and large-scale operational excellence. Most recently, he held the position of VP of Unconventional Reservoir Engineering Drilling & Completion at Saudi Aramco.

Brandon Pye takes on VP position at Patterson-UTI

Patterson-UTI Drilling recently appointed Brandon Pye as VP of Sales & Marketing. Mr Pye has more than 17 years of sales and marketing experience in the oil and gas industry, most recently serving as VP of Sales and Marketing at MS Directional.

Intellicess selects Michael Behounek as new CEO

Michael Behounek has moved into a new role as CEO of Intellicess. He has more than 40 years of experience across oil, gas and geothermal well construction, including more than 13 years with Apache Corp. His expertise spans upstream data, software, automation and advisory systems. Intellicess Co-Founder GR Underwood will continue as Chief Operating Officer.

Maxwell to lead Halliburton Western Hemisphere

Casey Maxwell, Halliburton Senior Vice President North America Land, has been promoted to President, Western Hemisphere. Mr Maxwell succeeds Mark Richard, who will serve as Senior Advisor to Chairman, President and CEO Jeff Miller. Mr Maxwell has been with the company since 2006. He has advanced through roles of increasing responsibility in field sales, technical sales and business development.

Abaco acquisition finalized by Superior Energy Services

Superior Energy Services has completed its acquisition of Abaco Energy Technologies, allowing Superior to expand its portfolio of specialized bottomhole assemblies and other downhole technologies.

Cognite, Snowflake partner on AI technology adoption

Snowflake, an AI data cloud company, is partnering with industrial AI provider Cognite to launch Energy Solutions, a portfolio of technologies around AI and data analytics. Through this collaboration, the companies will leverage AI and machine learning models to monitor asset health, reduce unplanned outages and optimize operation and maintenance costs.

Aquaterra awarded subsea work offshore Spain

Aquaterra Energy secured a multi-year, seven-figure contract with a global offshore services company to deliver a subsea well access solution to support intervention and abandonment activities across 11 wells located offshore Spain.

The campaign, to be executed from a semisubmersible, will see Aquaterra supply a 7 3/8-in. ID, 5,000-psi rated intervention riser system with proprietary AQC-CW connectors and a package of interface equipment for a series of subsea abandonment operations.

Weatherford to support completions in Denmark

Weatherford was awarded a multi-year integrated completions contract by TotalEnergies. Under the agreement, Weatherford will deliver completions products and services supporting offshore operations in the country.

Harbour Energy finalizes $3.2 billion buy-out of LLOG

Harbour Energy recently completed its $3.2 billion acquisition of LLOG Exploration, strengthening Harbour’s global portfolio and establishing its entry into the US Gulf as a new business unit, alongside existing operations in Norway, the UK, Argentina and Mexico. Through LLOG, Harbour gains a fully operated, oil-weighted portfolio and an experienced team in one of the world’s most active offshore basins.

LLOG’s assets include hubs such as Who Dat and Buckskin, where strong output helped drive the company’s production to an average 36,000 barrels of oil equivalent per day (boepd) in 2025. The company expects that number to rise to between 65,000 to 70,000 boepd by 2028. LLOG is also part of a consortium that achieved first oil at the deepwater Leon-Castile fields in the US Gulf late last year.

Bardasz, GEOLOG join forces on RTOC solutions

Bardasz and GEOLOG entered a strategic alliance to deliver real-time operating center (RTOC) solutions for drilling optimization and mitigation of nonproductive time. Bardasz offers a high-frequency real-time well construction platform built on WITSML and the Energistics Transfer Protocol.

PRODUCTS

Well construction system unifies AI, data analytics

Baker Hughes’ new Kantori autonomous well construction system is a unified digital service that provides intelligent operations and streamlined workflows across every stage of the well construction process.

The system combines artificial intelligence and physics-based models with real-time data analytics to continually optimize performance and enable automation across planning, execution and monitoring activities. This approach supports rapid decision making with limited human intervention, reducing nonproductive time and variability during well construction operations.

The system is scalable by design and adapts to operators’ needs, whether for a single well or across an entire field.

New frac fluid delivery system introduces electric actuation, automation

Hydraulic actuation has been the industry norm for frac valve operations for years, but SLB’s newly launched Cameron frac fluid delivery system now offers electric actuation and automation. The fully electric system was designed to reduce operational complexity for any actuation type.

The system centers on three main elements: the Cameron frac valve, an electric actuation system and the ValveCommander fluid delivery control system. The ValveCommander system gives operators total digital control over any actuation type — empowering continuous pumping, improved uptime and enhanced safety at the wellsite. The fluid delivery system removes hydraulic fluids and reduces the use of diesel-powered equipment. This not only simplifies wellsite operations but also supports safer and more sustainable fracturing.

Quartet of new technologies launched to support fracs

Oil States released several technologies under its GEODynamics brand to complement its EVOLV frac plug:

• The EVOLV composite cement retainer provides the functionality of the cast iron cement retainers of the past but with the drill-out efficiency of standard composite frac plugs.
• EVOLV DX3 Dissolvable Frac Plugs hold the same differential pressures as a standard composite EVOLV frac plug but require less intervention. They’re ideal for long laterals where traditional millouts aren’t feasible.
• The EVOLV VELO Frac Valve is a ball-free frac plug system that uses a shifting valve that can be manipulated with pump rate and flowback if a gun misfires. It’s ideal for an intervention-less wellbore clearing after a screen-out.
• The GEODynamics Disposable Setting Tool self-bleeds once the plug is set while maintaining safety and pressure integrity.

Electric completion system delivers faster actuation

Weatherford’s AMP all-electric intelligent completion system features a simplified surface architecture and is designed to provide ultra-fast actuation. Its integrated digital capabilities and electrically isolated valves operate multiple zones through a single control line, delivering precise, real-time responsiveness that streamlines operations.

The system recently received an OTC Asia Spotlight on New Technology Award.