Latest news with #deepwater
Globe and Mail
2 days ago
- Business
- Globe and Mail
Expro Unveils Its Most Advanced Brute® Packer System for Deepwater Wells
Expro (NYSE:XPRO), a leading provider of energy services, has launched its most advanced BRUTE ® High-Pressure, High Tensile Packer System, designed to help operators work more efficiently and confidently in the extreme conditions of deepwater wells. Engineered for the highest differential pressures in the market, this new technology gives operators the flexibility to set higher in the wellbore - saving rig time, reducing operational risk, and simplifying regulatory compliance. This press release features multimedia. View the full release here: The introduction of the BRUTE ® Armor Packer marks a major milestone in the continued evolution of Expro's BRUTE ® product line. With unmatched versatility, this innovation positions Expro as the only provider capable of supporting 20k deepwater projects at this level. When deployed with the BRUTE ® 2 Storm Valve, it forms the industry's highest-rated Storm/Service Packer and Valve combination currently available. As a recognized leader in deepwater downhole solutions, Expro was commissioned by a super-major energy company for a high-spec 20k development in the Gulf of America. The inaugural use of the technology confirmed its pressure integrity and performance under extreme downhole conditions resulting in the release and first successful deployment of the 12,850 psid-rated 12.25' BRUTE ® Armor Packer System in April 2025. Building on the successful deployment of the 12.25' Packer System, Expro has also introduced a new 20'/22' Packer System addressing historical challenges of 20' and 22' retrievable mechanical packer systems, often constrained by internal diameter (ID) limitations, such as subsea high-pressure wellhead housings and supplemental casing adapters. Featuring twice the element expansion capability of traditional mechanical packers, the new system delivers efficient, reliable performance for casing testing, suspension, and squeeze applications, all without compromising operational effectiveness. The first deployment of the 20'/22' Packer System recently took place in June 2025, during a high-profile offshore campaign for a super-major operator in the Gulf of America. The packer passed through restrictions in the high-pressure wellhead housing and supplemental casing adapter before being installed in a larger ID below both components. It achieved full element expansion and pressure integrity on the first attempt validating the tool's enhanced expansion capability, enabling efficient casing isolation while reducing rig time and operational risk. Jeremy Angelle, Vice President of Well Construction commented: 'This launch firmly establishes Expro's BRUTE ® Packers as the industry benchmark for deepwater storm and test packers in terms of pressure and tensile strength. The modular toolset provides unparalleled flexibility, making it the most adaptable solution on the market and positions Expro as the partner of choice for next-generation 20k deepwater developments. 'We're not just meeting the industry's toughest standards - we're defining them.' Notes to Editors Working for clients across the well life cycle, Expro is a leading provider of energy services, offering cost-effective, innovative solutions and what the Company considers to be best-in-class safety and service quality. The Company's extensive portfolio of capabilities spans well construction, well flow management, subsea well access, and well intervention and integrity solutions. With roots dating to 1938, Expro has approximately 8,500 employees and provides services and solutions to leading exploration and production companies in both onshore and offshore environments in more than 50 countries. For more information, please visit and connect with Expro on Twitter @ExproGroup and LinkedIn @Expro. This press release, and oral statements made from time to time by representatives of the Company, may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things, the success, safety, efficiency and sustainability of the Company's well construction technologies, the Company's environmental, social and governance goals, targets and initiatives, and future growth, and are indicated by words or phrases such as "anticipate," "outlook," "estimate," "expect," "project," "believe," "envision," "goal," "target," "can," "will," and similar words or phrases. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the future results, performance or achievements expressed in or implied by such forward-looking statements. Forward-looking statements are based largely on the Company's expectations and judgments and are subject to certain risks and uncertainties, many of which are unforeseeable and beyond our control. The factors that could cause actual results, performance or achievements to materially differ include, among others the risk factors identified in the Company's Annual Report on Form 10-K, Form 10-Q and Form 8-K reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, historical practice, or otherwise.
Globe and Mail
2 days ago
- Business
- Globe and Mail
How Exxon (XOM) May Snag Seven Trinidad Blocks Without Bidding
Exxon Mobil (XOM) is in talks with Trinidad and Tobago to explore up to seven deepwater blocks off the country's east coast, marking a potential return two decades after it exited following failed drills. The acreage sits north of Guyana's Stabroek block—where Exxon, Hess (HES) and CNOOC have booked more than 11 billion barrels—and could extend the basin's prolific geology across the maritime border. Trinidad's new government wants fresh offshore investment to backstop its LNG and petrochemical complex after a Venezuela-linked gas project stalled. While a deepwater auction now closes Sept. 17 without Exxon's preferred tracts, law allows one-off negotiations for unauctioned areas—an opening Energy Minister Roodal Moonilal hinted at this month. Market Overview: Supermajors keep chasing Guyana-Suriname basin scale as legacy fields mature Trinidad seeks gas feedstock to sustain LNG capacity amid regional geopolitical snags Direct negotiations outside formal bid rounds highlight flexibility in smaller producers' licensing Key Points: Exxon is negotiating for seven ultra-deepwater blocks adjacent to Guyana's Stabroek Current Trinidad auction excludes those blocks, but statutes permit bespoke deals Hess remains Exxon's key U.S.-listed partner in Stabroek; CNOOC is state-owned China-listed Looking Ahead: A deal could give Exxon control of most remaining unlicensed ultra-deepwater acreage Success would redirect capital back to Trinidad after a 2003 exit and bolster LNG feedstock Regional discoveries will likely spur more cross-border JV talks and infrastructure sharing Bull Case: Exxon Mobil's potential return to Trinidad and Tobago's deepwater sector—adjacent to the prolific Guyana Stabroek block—gives it a shot at unlocking major new reserves in one of the world's hottest exploration frontiers, leveraging proven geological continuity across maritime borders. If negotiations succeed, Exxon could secure control of most remaining unlicensed ultra-deepwater acreage, preempting rivals and establishing a dominant regional footprint as Hess transitions into Chevron and competitive dynamics shift. Success would channel capital and expertise back to Trinidad after a 20-year absence, directly supporting the country's LNG and petrochemical infrastructure and providing a strategic hedge against Venezuela-related supply risks. The government's willingness to negotiate outside standard bid rounds indicates regulatory flexibility, enabling majors like Exxon to pursue high-impact tracts even when auctions misalign with exploration priorities. Any material discoveries would likely catalyze follow-on cross-border partnerships, JV infrastructure, and new LNG feedstock, potentially enhancing regional energy security and boosting Trinidad's global gas relevance. For investors, incremental Guyana-basin barrels bolster Exxon's resource base, offering upside that could counterbalance long-term energy transition headwinds and reinforce the company's growth narrative despite broader sector discipline. Bear Case: Despite attractive geology, Exxon's re-entry into Trinidad deepwater comes with substantial exploration risk, given its prior exit in 2003 following unsuccessful drilling—future wells remain unproven and capital commitments could be high with no guarantee of commercial discoveries. Heavy reliance on bespoke negotiations, rather than formal auctions, may expose Exxon to political and regulatory uncertainties—future governments could renegotiate terms or face pressure from local stakeholders if expectations are not met. Trinidad's urgent need for new offshore investment stems partly from stalled Venezuela-linked gas projects, underscoring regional instability and the potential for delays or further geopolitical snags affecting future developments. Even with a deal, monetizing discovered resources likely requires substantial infrastructure investment; success will depend on multi-party cooperation, regulatory clarity, and ongoing stability in LNG and global gas markets. The project's capital intensity and multi-year timeframes risk tying up resources in a region facing ongoing energy transition pressures, intensifying investor scrutiny over large-scale hydrocarbon projects without clear and timely payback horizons. Should the new blocks prove less prolific than the Stabroek analogs, Exxon may be forced to write down investments or scale back ambitions, harming both local development prospects and its offshore Atlantic Basin strategy. If Exxon secures terms, Trinidad gains both marquee capital and a strategic hedge against Venezuelan uncertainty; for Exxon, the move shores up optionality near a core growth hub without diluting focus. The negotiation route also signals how resource-hungry majors leverage legal flexibility when bid rounds misalign with geologic ambition. For investors, the calculus hinges on whether incremental Guyana-basin barrels can offset global spending discipline and energy-transition pressures. With Hess set to be folded into Chevron (CVX) pending approvals, Exxon's Trinidad push could preempt competitive encroachment and lock in basin synergies before the next auction window opens.
Yahoo
14-07-2025
- Business
- Yahoo
Expro Secures Contract With Woodside Energy for Trion Deepwater Project
Expro to deliver advanced tubular running and cementing services for Woodside's first ultra-deepwater development offshore Mexico. HOUSTON, July 14, 2025--(BUSINESS WIRE)--Expro (NYSE:XPRO) has been awarded a major three-year contract by Woodside Petróleo Operaciones de México, S. de R.L. de C.V. (Woodside Energy) in support of the Trion deepwater oil and gas development offshore Mexico. Under the agreement, Expro will provide industry-leading tubular running services (TRS) and cementing services for what will be Mexico's first deepwater oil production facility - a major milestone in the region's energy evolution. Woodside and Expro have a long-standing partnership, with Expro supporting well construction activities in Mexico during the exploration phase. This latest collaboration further strengthens their well-established presence in deepwater operations across the country. As part of the project, Woodside Energy will manage operations from its Tampico shore base and office, while Expro is actively establishing a new hub in the area, supporting local employment and contributing to the economic growth of the area. The contract enables Expro to deploy its differentiated well construction technologies, designed to offer a seamless solution from top drive to target depth. Services will include TRS casing, completion and drilling support, as well as the provision of casing accessories, cement heads, and Expro's Skyhook® system. In addition to technical execution, Expro's approach is aimed at optimizing well performance, driving cost-efficiencies, and enhancing operational reliability throughout the project lifecycle. Jeremy Angelle, Vice President of Well Construction said, "With our extensive track record and a reputation as a trusted provider of TRS solutions, we are proud to play a key role in this world-class development. This contract win reflects not only the strength of our technical capabilities and commercial offering but also our legacy of supporting Trion exploration wells through Frank's TRS and VERSAFLOTM systems. This project represents an exciting opportunity to showcase our innovative technologies on a historic deepwater development, and we look forward to building a strong, long-term partnership with Woodside in Mexico." Trion is a greenfield development located in the Perdido Fold Belt, approximately 180 km off Mexico's coastline in the Gulf of Mexico, in water depths of around 2,500 meters. Representing the first deepwater oil production in Mexico, the project is a joint venture between Woodside Energy and Petróleos Mexicanos (PEMEX), with first oil targeted for 2028. Notes to editors Working for clients across the well life cycle, Expro is a leading provider of energy services, offering cost-effective, innovative solutions and what the company considers to be best-in-class safety and service quality. The company's extensive portfolio of capabilities spans well construction, well flow management, subsea well access, and well intervention and integrity solutions. With roots dating to 1938, Expro has more than 8,500 employees and provides services and solutions to leading exploration and production companies in both onshore and offshore environments in more than 50 countries. For more information, please visit and connect with Expro on Twitter @ExproGroup and LinkedIn @Expro. SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This press release, and oral statements made from time to time by representatives of the Company, may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things, the success and safety of the Company's tubular running and cementing services technologies, the Company's environmental, social and governance goals, targets and initiatives, and future growth, and are indicated by words or phrases such as "anticipate," "outlook," "estimate," "expect," "project," "believe," "envision," "goal," "target," "can," "will," and similar words or phrases. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the future results, performance or achievements expressed in or implied by such forward-looking statements. Forward-looking statements are based largely on the Company's expectations and judgments and are subject to certain risks and uncertainties, many of which are unforeseeable and beyond our control. The factors that could cause actual results, performance or achievements to materially differ include, among others the risk factors identified in the Company's Annual Report on Form 10-K, Form 10-Q and Form 8-K reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, historical practice, or otherwise. View source version on Contacts Media ContactMediaRelations@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
14-07-2025
- Business
- Globe and Mail
Expro Secures Contract With Woodside Energy for Trion Deepwater Project
Expro (NYSE:XPRO) has been awarded a major three-year contract by Woodside Petróleo Operaciones de México, S. de R.L. de C.V. (Woodside Energy) in support of the Trion deepwater oil and gas development offshore Mexico. This press release features multimedia. View the full release here: Expro's Well Construction Under the agreement, Expro will provide industry-leading tubular running services (TRS) and cementing services for what will be Mexico's first deepwater oil production facility - a major milestone in the region's energy evolution. Woodside and Expro have a long-standing partnership, with Expro supporting well construction activities in Mexico during the exploration phase. This latest collaboration further strengthens their well-established presence in deepwater operations across the country. As part of the project, Woodside Energy will manage operations from its Tampico shore base and office, while Expro is actively establishing a new hub in the area, supporting local employment and contributing to the economic growth of the area. The contract enables Expro to deploy its differentiated well construction technologies, designed to offer a seamless solution from top drive to target depth. Services will include TRS casing, completion and drilling support, as well as the provision of casing accessories, cement heads, and Expro's Skyhook® system. In addition to technical execution, Expro's approach is aimed at optimizing well performance, driving cost-efficiencies, and enhancing operational reliability throughout the project lifecycle. Jeremy Angelle, Vice President of Well Construction said, 'With our extensive track record and a reputation as a trusted provider of TRS solutions, we are proud to play a key role in this world-class development. This contract win reflects not only the strength of our technical capabilities and commercial offering but also our legacy of supporting Trion exploration wells through Frank's TRS and VERSAFLO TM systems. This project represents an exciting opportunity to showcase our innovative technologies on a historic deepwater development, and we look forward to building a strong, long-term partnership with Woodside in Mexico.' Trion is a greenfield development located in the Perdido Fold Belt, approximately 180 km off Mexico's coastline in the Gulf of Mexico, in water depths of around 2,500 meters. Representing the first deepwater oil production in Mexico, the project is a joint venture between Woodside Energy and Petróleos Mexicanos (PEMEX), with first oil targeted for 2028. Notes to editors Working for clients across the well life cycle, Expro is a leading provider of energy services, offering cost-effective, innovative solutions and what the company considers to be best-in-class safety and service quality. The company's extensive portfolio of capabilities spans well construction, well flow management, subsea well access, and well intervention and integrity solutions. With roots dating to 1938, Expro has more than 8,500 employees and provides services and solutions to leading exploration and production companies in both onshore and offshore environments in more than 50 countries. For more information, please visit and connect with Expro on Twitter @ExproGroup and LinkedIn @Expro. This press release, and oral statements made from time to time by representatives of the Company, may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things, the success and safety of the Company's tubular running and cementing services technologies, the Company's environmental, social and governance goals, targets and initiatives, and future growth, and are indicated by words or phrases such as "anticipate," "outlook," "estimate," "expect," "project," "believe," "envision," "goal," "target," "can," "will," and similar words or phrases. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the future results, performance or achievements expressed in or implied by such forward-looking statements. Forward-looking statements are based largely on the Company's expectations and judgments and are subject to certain risks and uncertainties, many of which are unforeseeable and beyond our control. The factors that could cause actual results, performance or achievements to materially differ include, among others the risk factors identified in the Company's Annual Report on Form 10-K, Form 10-Q and Form 8-K reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, historical practice, or otherwise.
Yahoo
09-07-2025
- Business
- Yahoo
Seadrill Announces Second Quarter 2025 Earnings Release and Conference Call
HAMILTON, Bermuda, July 09, 2025--(BUSINESS WIRE)--Seadrill Limited ("Seadrill" or the "Company") (NYSE: SDRL) will report its second quarter 2025 results on Wednesday, August 6 after the NYSE closes for trading. The Company will host a conference call to discuss its results on Thursday, August 7 at 08:00 CT / 15:00 CET. Interested participants may join the call by dialing +1 (800) 715-9871 (Conference ID: 5348977) at least 15 minutes prior to the scheduled start time. The Company will webcast the call live on the Investor Relations section of its website, where a replay will be available afterwards. About Seadrill Seadrill is setting the standard in deepwater oil and gas drilling. With its modern fleet, experienced crews, and advanced technologies, Seadrill safely, efficiently, and responsibly unlocks oil and gas resources for national, integrated, and independent oil companies. For further information, visit View source version on Contacts Kevin SmithVice President – Corporate Finance and Investor Relationsir@ Sign in to access your portfolio
