Industry News

Rigzone delivers the latest headlines for Oil and Gas industry news; analysis of issues and events; practical technology for design, operation and maintenance; and important statistics on international markets and activity.

5/22/2019: Guyana Investigating Offshore Oil Leases

Guyana's anti-corruption agency is investigating how some exploration rights were awarded in the world's biggest new deepwater oil region.

5/22/2019: Oil Prices Plunge

The WTI and Brent contract prices settled below $60 and $70, respectively.

5/22/2019: Select US Drilling Rights Sell for $1.50 Per Acre

From 2017 to 2018, the number of acres sold non-competitively more than doubled, from roughly 141,000 to nearly 379,000.

5/22/2019: Obscure Cypriot Plots $10B East Med Gas Bet

A little-known investor group is planning a major shakeup of the Eastern Mediterranean natural gas industry.

5/22/2019: The Next Permian Takeover Target

Wood Mackenzie outlines the next most likely takeover targets in the Permian right now.

5/22/2019: Oil Extends Losses

Oil extended losses after a surprise jump in American crude inventories alleviated concerns over a supply crunch.

5/21/2019: Oil Prices Down More Than $1

Both the WTI and Brent contract prices fell by more than $1 Wednesday.

5/21/2019: Top 2019 US Oil Stock Has No Permian Stake

This year's top-performing U.S. oil producer doesn't have any operations in the world's fastest-growing shale play.

5/21/2019: Offshore Oilfield Service Growth Likely to Halve

The annual growth rate in the global offshore oilfield services market will likely be halved after 2022, according to Rystad Energy.

5/21/2019: Oil Heads for Biggest Drop in 2 Weeks

Oil headed for its biggest drop in two weeks as signs the worsening U.S.-China trade war will take a toll on global economic growth overshadowed the prospect of OPEC+ extending output curbs.