Monday, March 3, 2025

Independence Contract Drilling Reports 100% Utilization of ShaleDriller Rig Fleet

New contract extensions add 3 rig-years of backlog; board approves another ShaleDriller newbuild Carrying on from Q4, all 14 of Houston-based Independence Contract Drilling, Inc.’s (ticker: ICD) ShaleDriller rigs are currently contracted and operating under term contracts. As of December 31, 2017, the company’s proforma backlog of revenues from contracts with original terms of six months or more, including contract

The World's Coming Mega-Population Centers and the Energy They Will Need

100 Million Barrels of Strategic Oil Reserves to be Sold

Recent U.S. legislation has directed the sale of more than 100 million barrels of oil from the Strategic Petroleum Reserve (SPR) in government fiscal years 2022 through 2027. Based on legislated sales established in multiple acts of Congress, the SPR could decline by about 40% in the coming decade while still meeting requirements for petroleum import coverage, the EIA said.