Devon Energy has announced it entered into a definitive agreement to sell its assets in the Barnett Shale to BKV for $770 million. This transaction is expected to close in Q2 2020. Devon expects no incremental cash taxes associated with the divestiture of these assets...

Devon Energy announced it entered into an agreement with Dow to develop a portion of STACK acreage in central Oklahoma. The average working interest is estimated at 60% across a mix of standard and extended-reach lateral drilling locations...

Baker Hughes has announced that the Baker Hughes international rig count for November 2019 was 1,096, down 34 from the 1,130 counted in October 2019, and up 105 from the 991 counted in November 2018...

KCA Deutag has announced that its land drilling operation has won new contracts worth approximately $460 million in the Middle East, Africa and Europe. In Oman, KCA Deutag has won a three-year contract extension, which commences in 2021...

Well-SENSE has successfully proved its Active-FLI technology with the completion of its first commercial onshore well survey for a major E&P operator at a test well in Texas. The technology enhances its FiberLine Intervention (FLI) distributed sensing capability with an add-on package of electronic and optical sensors...

Weatherford has announced it has signed two contracts totaling $67.4 million for drilling services with two major operators in Russia...

Except for harsh-environment semis, global offshore fleet continues to see a very slow recovery, although 69% utilization is the highest it’s been since 2015 By Tony Crawford, Tarjei Myklebust and Aylar Ibrahimoglu, National Oilwell Varco Rig demand in this year’s National Oilwell Varco census has shifted in both areas of geographic activity and in rig type. Late 2017 and 2018 demonstrated promising improvements in global land utilization rates and modest recovery in offshore drilling. 2019 can be characterized by strong international rig utilization and demand for land, steadily improving demand for offshore and weakening demand for land rigs in North America. Offshore rig demand in North America is improving slightly, but it has yet to see the type of growth ...

US onshore activity likely to suffer as cautious operators rein in budgets, plan to drill and frac fewer wells next year By Linda Hsieh, Editor & Publisher Another tough year is in store for the US land drilling and completions market in 2020. John Spears, President of Spears and Associates, said he expects the Baker Hughes rig count to fall by 10% next year. “That’s a function of the fact that the operators are going to be extremely careful about their capital spending programs. They are going to be mostly focused on trying to improve profitability and returns to shareholders, and not so much in terms of growing production. We think that means activity will move lower in the US ...

SIMMONS EDECO has announced that it has completed an onshore drilling campaign for a major oilfield services company in Mexico. The contract required SIMMONS EDECO to provide onshore drilling services on a field in the south of Mexico...

Conventional oil and gas discoveries during the past three years are at the lowest levels in seven decades and a significant rebound is not expected, according to a new report by IHS Markit...