The appraisal well encountered approximately 30 m (98 ft) of net black oil pay. Maersk Drilling's Maersk Valiant drillship, which drilled the appraisal well, will soon move to the next exploration prospect at Bonboni before returning later in the year to flow test Sapakara South-1.

The Deepwater Conqueror was awarded a one-well contract with a major operator, and the Deepwater Asgard was awarded a one-well contract with another operator in the U.S. Gulf of Mexico. Both contracts are expected to start in Q1 2022 and will contribute approximately $55.5 million in combined backlog.

The offshore drilling sector – challenged by managing an oversupplied, highly competitive market combined with over-leveraged balance sheets, weak liquidity and stressed financials – is ripe for consolidation.The latest MODU Market Report from Maritime Strategies International (MSI)

The Whiptail-1 well encountered 246 ft (75 m) of net pay in high quality oil bearing sandstone reservoirs. Drilling is also ongoing at the Whiptail-2 well, which is located 3 miles northeast of Whiptail-1 and has encountered 167 ft (51 meters) of net pay. Drilling continues at both wells to test deeper targets, and results will be evaluated for future development.

The API has released a new analysis of the natural gas and oil industry’s impact on the US economy and highlighted its importance to the nation’s post-pandemic recovery. The study, prepared by PricewaterhouseCoopers (PwC) and commissioned by API, is based on

Malaysia is expected to contribute about 12%, or 3.1 billion cu ft (bcf) of global natural gas production in 2025 from key offshore planned and announced projects that are expected to start operations between 2021 and 2025, according to

The well, located in the US Gulf of Mexico, is currently producing above the previously estimated 8-10 million BOE/day range. Talos said in a statement that it had increased injection rates to a rate of over 30,000 bbl/day of water into the producing formation.

The development is expected to reach peak production of approximately 100,000 BOE/day and currently has an estimated recoverable resource volume of 490 million BOE. Whale will be Shell’s 12th deepwater facility in the Gulf of Mexico and is currently scheduled to begin production in 2024.

As part of the transaction, Cathedral and Precision have entered into a strategic marketing alliance that is expected to support both parties’ technology initiatives. Precision’s Alpha digital technologies (AlphaApps, AlphaAutomation and AlphaAnalytics) are focused on automation and drilling performance, while Cathedral offers downhole equipment.

Among the deals announced in the company's latest fleet status report are a one-well option with BHP for the Deepwater Invictus drillship in the US Gulf of Mexico and a 370-day option with TotalEnergies for the Deepwater Skyros drillship in Angola. Equinor and POSCO also exercised options for the Transocean Spitsbergen and Deepwater Nautilus semisubmersibles, respectively.