Nabors Industries has invested $35 million for a 14% stake in Quaise Energy as the companies advance deep geothermal drilling technology at Project Obsidian in Oregon. The investment could create a new market for conventional drilling rigs, engineering, automation and OFS capabilities if superhot geothermal development progresses toward commercial scale.
Enbridge, KKR and Apollo are backing approximately C$2.7 billion of investment into the Aspen Point and Sunrise expansions of the Westcoast natural gas pipeline system in British Columbia. The projects will increase takeaway capacity for Western Canadian gas, strengthen connections into the U.S. Pacific Northwest and create a multi-year pipeline and infrastructure opportunity for oilfield service companies and suppliers.
Enbridge will acquire Salt Creek Midstream’s Orla and Wink North crude systems and a 50% interest in DCX for $600 million, adding approximately 500 miles of Delaware Basin gathering infrastructure with 420,000 bpd of capacity. The deal strengthens Enbridge’s wellhead-to-export network and reinforces the Permian Basin’s role in supplying reliable U.S. “Safe Barrels” to domestic and global markets
TORM CEO Jacob Meldgaard warns the Iran conflict could become a prolonged, Ukraine-style stalemate, creating lasting risk and higher costs for moving Middle Eastern oil through the Persian Gulf. A prolonged disruption strengthens the U.S. “Safe Barrel” thesis, increasing the strategic value of reliable American production and the opportunity to maximize existing wells through workovers, artificial-lift optimization, chemicals, automation and other production technologies.
Utah FORGE is testing whether drilling and hydraulic stimulation technologies developed by the U.S. shale industry can create commercial geothermal reservoirs in locations previously unsuitable for geothermal power. Success could open a significant adjacent market for drilling contractors and OFS suppliers while extending America’s shale technology base into reliable, domestic geothermal energy.
Ring Energy is an active Permian Basin operator with approximately 919 gross producing wells, while accelerating Crane County development with 12 well records showing 2026 activity, including 10 horizontal wells. The new Havara 400 Gas Battery air permit in Block B21 strengthens the development signal and creates OFS opportunities spanning drilling, completions and facilities through artificial lift, chemicals, automation, well servicing and long-term production optimization.
Arctic oil and gas development is gaining momentum as ConocoPhillips advances its Willow project and U.S. policy shifts toward potentially opening additional Alaska offshore resources. With Willow approximately 50% complete and Norway maintaining its commitment to Barents Sea development, northern regions are emerging as an important long-term market for operators and the oilfield service supply chain.
Gunvor is reportedly considering a $1.2 billion to $1.5 billion acquisition of Silver Hill Energy’s Haynesville gas assets, while OilGasLeads data shows Silver Hill has drilled 39 wells across Texas, Louisiana and North Dakota in 2026 YTD. The potential transaction highlights the growing strategic value of Haynesville production as LNG exports, power demand and demand for secure U.S. natural gas supplies increase.
Staghorn Petroleum II is a high-priority Next Tier Anadarko Basin operator, combining a sizeable legacy well portfolio with consistent redevelopment activity, including 34 permits since 2020 and increasing recent concentration in Grady County. Its mix of new horizontal development and existing production creates sales opportunities across drilling and completions as well as Maintenance Plus services such as artificial lift, workovers, chemicals, automation, and production optimization.
Ensign Natural Resources II is an NGP-backed Houston E&P making a major return to the Eagle Ford through its approximately $1.2-billion acquisition of 43,000 net South Texas acres from ConocoPhillips, backed by a management platform with extensive prior experience developing and monetizing Eagle Ford assets. Recent activity, including five Texas drilling permits in the latest reported week, makes Ensign II a high-priority Next Tier account with immediate drilling and completion opportunities and a potentially expanding longer-term market for artificial lift, chemicals, automation and Maintenance Plus production services.
