Oil & Gas

Beetaloo Partners Complete Drilling Program for Pilot Gas Project

Last month Tamboran said it had received approval from the Northern Territory government to sell appraisal gas from the SS Pilot Project, after the Beetaloo JV and the government entered an agreement for the supply of 40 terajoules (tJ) per day from the project to the Northern Territory for an initial term of nine years starting in the first half of 2026.

Chevron Wants to Weigh In on the Launch of Venture Global’s New LNG Plant

The argument worked in Shell’s arbitration case against Venture Global, where the court sided with the latter. It did not work with another arbitration case, brought against the U.S. LNG producer by BP, which is asking for over $1 billion in compensation. The total sought in damages from Venture Global by its long-term clients is over $4 billion. The company has warned that any unfavorable court ruling would lead to contract cancellations and faster repayment of loans taken out to build its LNG facilities, from the long-term buyers of the commodity.

North America Adds 1 Rig Week on Week

Of the total U.S. rig count of 547, 529 rigs are categorized as land rigs, 15 are categorized as offshore rigs, and three are categorized as inland water rigs. The total U.S. rig count is made up of 418 oil rigs, 120 gas rigs, and nine miscellaneous rigs, according to Baker Hughes’ count, which revealed that the U.S. total comprises 480 horizontal rigs, 55 directional rigs, and 12 vertical rigs.