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North America Rig Count Jumps 28; M&A Activity Continues Offshore, Overseas - Bakken Wire
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North America Rig Count Jumps 28; M&A Activity Continues Offshore, Overseas

Baker Hughes reports weekly rig increase as Eldorado and Tamboran announce acquisitions in offshore drilling and Australian shale.

Bakken Wire Staff·🔆Midday Wire·

North America's active rig count increased by 28 this week, according to the latest data from Baker Hughes reported by Rigzone. The rise in drilling activity is a positive signal for oilfield service demand across the continent, including in the Bakken formation.

In other operator news, consolidation continues in the drilling sector. Offshore drilling contractor Vantage Drilling has agreed to be acquired by Eldorado, Rigzone reported. The deal is intended to create a "more scalable offshore drilling platform," according to the source. This move highlights ongoing strategic shifts within the offshore segment, which can influence the broader service and equipment market relevant to onshore operators.

Separately, Australian shale gas company Tamboran has completed a merger, bringing Falcon under its corporate umbrella, Rigzone reported. The transaction consolidates Tamboran's position in the onshore Beetaloo Basin of Australia's Northern Territory, giving the company a leading 2.8 million net prospective acres. While this development is geographically distant, it underscores the continued global investment and consolidation in shale and unconventional resource plays, a sector that includes the Bakken.

For Bakken operators and service companies, the rise in the North American rig count suggests sustained or growing operational tempo among peers, which can support regional service pricing and equipment utilization. The merger and acquisition activity, particularly in the offshore drilling sector, reflects the ongoing search for scale and efficiency, a trend also seen in the onshore market over previous years.

Source

Rigzone (Eldorado to Acquire Vantage Drilling, Falcon Now under Tamboran, North America Adds 28 Rigs Week on Week)

rig countmergers and acquisitionsdrillingoperatorsnorth dakota

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