Read the latest issue of World Oil | View In Browser     SATURDAY ROUNDUP   Dec 14, 2025

BRENT $61.19     West Texas Intermediate (WTI) $57.33     Henry Hub Natural Gas $4.16     FID secured for Sea Lion field offshore Falklands, first oil targeted 2028 NPDP has taken final investment decision on the Sea Lion oil field offshore the Falkland Islands, clearing the way for first oil in 2028. Phase 1 will include 11 subsea wells tied back to an FPSO, with peak production of 50,000 bpd and additional development phases planned. Read More   North Sea shakeup: TotalEnergies, NEO NEXT merge to form UK’s largest independent operator TotalEnergies will merge its UK Upstream business with NEO NEXT to create NEO NEXT+, a new entity set to become the UK’s largest independent oil and gas producer with more than 250,000 boed in 2026. The deal strengthens North Sea consolidation efforts and reinforces long-term energy security. Read More   Antero announces $2.8 billion Marcellus acquisition, Utica sale in strategic realignment Antero Resources has announced a major Marcellus expansion with a $2.8 billion acquisition of HG Energy’s upstream assets, paired with an $800 million divestiture of its Utica position. The deal reshapes the company’s portfolio heading into 2026 and sharply boosts its Appalachia production outlook. Read More   ExxonMobil raises 2030 plan, lifts upstream outlook without boosting capital ExxonMobil has raised its 2030 outlook, projecting stronger upstream earnings and cash flow growth without increasing capital spending. The updated plan highlights accelerated production growth in the Permian, Guyana and LNG, deeper cost reductions, and earlier-than-expected emissions targets. Read More   EIA projects slight drop in U.S. crude output for 2026 after years of growth The EIA expects U.S. crude production to edge down to 13.5 million bpd in 2026, ending four years of growth as lower prices and regional declines offset gains in the Permian. Read More     Noble to divest six jackups in $424 million deal, sharpening deepwater focus Noble Corporation will sell six jackups in transactions totaling $424 million, exiting the standard jackup market as it shifts strategic focus toward deepwater and ultra-harsh-environment drilling. Read More   Engineered components are the difference between survival and failure in HPHT subsea systems Operators are under mounting pressure to keep subsea equipment reliable in HPHT environments. Pumps, valves and control systems depend on seals, insulators and connectors designed to endure extremes where traditional materials fail. Advances in thermoplastics and harness assemblies are proving that the smallest parts can redefine offshore reliability.  Read More   Oversupply vs. stabilization: EIA and Macquarie split on 2026 energy price forecasts EIA and Macquarie offer starkly different views on 2026 oil and gas prices, with both warning of oversupply but diverging on how steep the decline may be. Read More   Breakthroughs in geothermal drilling: Eavor’s FOAK closed-loop commercial project in Germany Eavor Technologies Inc.’s Geretsried project in Bavaria, Germany, is the first commercial deployment of its closed-loop (Eavor-LoopTM) advanced geothermal system. This article outlines the technical achievements in multilateral drilling performance, including a 90% improvement in rate of penetration, 3x increase in bit run lengths, and the integration of enabling technologies, such as insulated drill pipe and active magnetic ranging.   Read More       Weekly Rig Count Update     U.S. Rotary Rigs -10 rigs (change from 3/29) 548     Canada Rotary Rigs -17 rigs (change from 3/29) 192     International Rotary Rigs + 3 rigs (change fromFebruary 2019) 1073       Kurt Abraham Editor-in-Chief   Ivy Diaz Digital Editor     Mary Holcomb Digital Lead   Olivia Kabell Associate Editor

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