Global Operators Pursue Offshore Prospects as Enverus Releases Q1 Rankings

Monumental Resources and its partners are advancing plans for a new exploration block in New Zealand's Taranaki Basin, having identified gas prospects in the prospective area, according to a report from Rigzone. The move highlights continued international investment in conventional offshore exploration.

Separately, Latin America's two largest oil companies are making a significant, high-risk bet on Jurassic rock formations offshore Mexico, Rigzone reported. This frontier exploration effort underscores the industry's ongoing search for new resource plays beyond established onshore basins like the Bakken.

These international developments coincide with the release of first-quarter 2026 rankings for the most active U.S. land drilling contractors and their customers. Energy analytics firm Enverus announced the publication of its latest rankings, according to Rigzone. While the specific rankings were not detailed in the summary, such data is a key benchmark for activity levels in domestic shale plays.

For Bakken formation operators and service companies, the Enverus rankings provide a crucial snapshot of the competitive landscape within the U.S. onshore sector. High placement indicates robust drilling programs and capital deployment, while shifts in the list can signal changing strategies among major producers. The concurrent news of major investments in offshore frontier exploration by other firms may reflect a broader industry allocation of capital between lower-risk, high-tier shale assets and higher-risk, high-potential international projects.

The Bakken remains a core, economically vital play for North Dakota, but these reports illustrate the global context in which its operators compete for capital, drilling rigs, and market share. Activity levels in the Williston Basin are influenced by both domestic competition and the broader strategic choices of the international oil and gas industry.