24 May As Reported Energy Price, news updates & commentary 24/05/26: Rig Count: U.S. +7 to 558 Canada +14 to 138
(Oilandgaspress) Oil India Ltd on Friday announced a new natural gas discovery in its nominated Dandewala field in Rajasthan, with the well recording an average inflow of 25,000 standard cubic metres per day (SCMD) of gas from a depth of around 950 metres.
The discovery marks the first successful establishment of gas presence in the shallower Sanu Formation within the Dandewala field, opening up a new exploration play in the region. Related News
U.S. Rig Count is up 7 from last week to 558 with oil rigs up 10 to 425, gas rigs down 3 to 125 and miscellaneous rigs unchanged at 8.
Canada Rig Count is up 14 from last week to 138 with oil rigs up 11 to 87, gas rigs unchanged at 48 and miscellaneous rigs up 3 to 3.
International Rig Count is down 22 from last month to 1,036 with land rigs down 22 to 807, offshore unchanged at 229.
| Region | Period | Rig Count | Change |
| U.S.A | 22 May 2026 | 558 | +7 |
| Canada | 22 May 2026 | 138 | +14 |
| International | April 2026 | 1,036 | – 22 |
| Baker Hughes |
MENTARI 2, UK-Indonesia low-carbon energy partnership: call for proposals
The FCDO invites renewable energy non‑profits to submit by 19 June 2026 MENTARI 2 proposals for policy reform, investment support, and mainstreaming gender equality, disability and social inclusion. MENTARI 2 is a bilateral programme between the United Kingdom and Indonesia that supports Indonesia’s energy transition and the implementation of the UK–Indonesia Strategic Partnership in the energy sector. Related News
| Oil and Gas Blends | Units | Oil Price | Notes |
| Crude Oil (WTI) Oilprice | US$/bbl | $96.60 | |
| Crude Oil (Brent) | US$/bbl | $103.50 | |
| Bonny Light 22/05/26 CBN | US$/bbl | $111.54 | |
| Dubai | US$/bbl | $102.92 | |
| Natural Gas | US$/MMBtu | $2.90 | |
| Murban | US$/bbl | $102.20 | |
| OPEC basket 21/05/26 OPEC | US$/bbl | $113.44 | |
| At press time May 24, 2026 |
Sercel announced the sale and delivery of 12,000 nodes of its WiNG wireless nodal system to OGDC, Pakistan’s largest national oil & gas company. This new contract to equip a 3D seismic survey in the south of Pakistan marks OGDC’s first adoption of land nodal seismic acquisition technology.
The WiNG system delivers exceptional signal quality with its ultra-sensitive broadband QuietSeis® MEMS sensor technology. This advanced configuration enables the acquisition of high-fidelity seismic data, meeting the increasingly demanding requirements of modern seismic exploration surveys. The announced contract also includes the provision of 2,600 additional WiNG AFU analog nodes, further strengthening OGDC’s nodal capability and enabling the company to deploy nodes on buoys in hard‑to‑access areas such as marshes and lakes. As a result, the WiNG solution provides a comprehensive, versatile package that can be used seamlessly across all types of environments, ensuring continuous, uninterrupted data acquisition across the entire survey area. Related News
Repsol has achieved commercial operations at its 825 MW Pinnington solar project, located in Texas, marking a significant milestone in the company’s renewable growth strategy in the United States. Pinnington Solar has set a historic benchmark in the Electric Reliability Council of Texas (ERCOT), becoming the largest single renewable project ever to reach Commercial Operation (COD).
The construction of the Pinnington solar facility has generated a strong positive impact on the local economy, supporting approximately 700 local construction jobs and delivering meaningful economic activity during the development phase. Over its operational lifetime, the project will provide substantial tax revenue to surrounding communities, directly supporting local schools, emergency services and critical infrastructure. Related News
Repsol, together with Santos, has reached first oil at Pikka, on Alaska’s North Slope in the United States, with oil flow established through the Lease Automated Custody Transfer (LACT) meter into the Pikka oil sales pipeline.
Production will increase to reach a production plateau of 80,000 barrels of crude oil per day in the third quarter of the year. First sales revenue is also expected in the third quarter, with the partners alternating shipments of cargoes.
Repsol has a 49% stake in the project, while the Australian company Santos owns the remaining 51% and acts as operator. Related News
Weatherford International plc announced it has been awarded a deepwater integrated completions contract by Esso Exploration & Production Nigeria Ltd. (“EEPNL”), an ExxonMobil affiliate, for offshore Nigeria.
The contract falls within Weatherford’s Well Construction and Completions portfolio. Weatherford will provide integrated upper and lower completions solutions for deepwater wells, with a scope focused on supporting safety, reliability, well integrity, and operational efficiency over the lifecycle of the well.
The integrated completions equipment will be configured and prepared through Weatherford’s global supply chain and supported locally in Nigeria, in line with contract terms, to enable in-country execution and service delivery. Related News
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