David Wethe

The price to rent a deepwater drilling rig may climb to near record levels if demand from oil companies continues to increase in the coming years, according to the head of the world's biggest offshore rig contractor.

(Bloomberg) -- Diamondback Energy Inc., one of the Permian Basin's biggest oil companies, is considering using some of the natural gas it produces to generate electricity to run drilling and fracking operations.

(Bloomberg) -- Oilfield-service costs for US shale drillers are expected to rebound in 2025, clawing back some of this year's drop, as explorers expand the hunt for natural gas and extend sideways wells, according to industry consultant Enverus.

Helix Energy Solutions Group Inc. is exploring strategic options, including a potential sale, people familiar with the matter said.

(Bloomberg) -- More consolidation in the US shale sector is needed to cope with soaring costs to identify and exploit untapped oil reserves, according to Kimmeridge Energy Management Co.

(Bloomberg) -- SLB, the world's biggest oilfield services provider, warned that spending growth by oil explorers has waned in the past few months as customers take a cautious approach amid lower commodity prices.

Transocean Ltd. is in talks to merge with rival offshore drilling contractor Seadrill Ltd., according to people familiar with the matter, just as oil explorers around the world are returning to the sea.

Transocean is in talks to merge with rival offshore drilling contractor Seadrill, according to people familiar with the matter, just as oil explorers around the world are returning to the sea.

Phillips 66 , the biggest US fuelmaker by market value, told investors Tuesday it expects to surpass its $3 billion target for asset sales with more dispositions planned.

Oil and gas extraction has seen the fastest labor productivity gains of any sector in the past decade.