ADNOC Drilling Co., SLB and Patterson-UTI have formed joint venture Turnwell Industries LLC OPC to drill for unconventional oil and gas in the United Arab Emirates. (Source: Shutterstock)
ADNOC Drilling Co., SLB and Patterson-UTI have formed a joint venture (JV), Turnwell Industries LLC OPC, to accelerate the United Arab Emirates’ unconventional oil and gas platform, the companies announced on Sept. 30.
The JV has been awarded a contract to drill and complete 144 unconventional wells for ADNOC by the end of 2025, allowing the three companies to leverage their innovations in AI, smart drilling design, completions engineering and production solutions.
As part of the Turnwell joint venture, SLB will provide integrated drilling and stimulation and completion services, as well as project management, digital capabilities and subsurface support. Patterson-UTI will provide unconventional drilling and completion expertise, as well as a limited cash contribution to fund working capital.
YOU’VE REACHED YOUR FREE STORY LIMIT.
Sign Up to Continue Reading for Free.
Gain access to limited free articles, energy news and analysis, exclusive interviews, and newsletters.
No credit card required. You agree to our Privacy Policy.
Recommended Reading
Mach Natural Resources Closes Two Midcontinent Deals
2024-10-03 - Mach purchased assets in the Anadarko and Ardmore basins for a total consideration of $136 million.
Exclusive: Enbridge’s Next Plans Post Dominion Acquisitions, More LNG
2024-10-02 - Enbridge’s Allen Capps shares the company’s long term growth solutions, and his optimism on gas prices, following completion of transformational natural gas deals with Dominion, in this Hart Energy Exclusive interview.
Prairie Operating Gets Output, Acreage Boost from Nickel Road M&A
2024-10-02 - Prairie Operating closed an acquisition of acreage and production in Weld County, Colorado, where the D-J Basin player is drilling its first Niobrara horizontals.
Ovintiv to Divest Permian Assets Amidst M&A Rumors
2024-10-02 - Ovintiv is marketing assets in the Permian Basin amidst rumors that the Denver-based E&P is looking to join in on the M&A frenzy.
Tourmaline’s $950MM Crew Energy M&A Drills Deeper In Montney
2024-08-12 - Tourmaline Oil is adding high-quality drilling locations in Canada’s Montney Shale with the CA$1.3 billion (US$950 million) acquisition of Crew Energy Inc.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.