Norwegian technology company Control Cutter has appointed Steve Louis as Group Chief Commercial Officer and Managing Director of the US region.
In a LinkedIn post shared this week, Louis stated he “welcomes the opportunity to work with the talented team at our US facility in Broussard, Louisiana, and with my counterparts in Norway, the UK and Brazil.”
Louis continued, “I also look forward to the engaging with the many clients, subcontractors, and vendors who I have has the honour of working with over the last decade to address the growing decommissioning backlog in both the Gulf of America and Pacific.”
Louis joins the team with nearly 25 years of experience in offshore EPCI, subsea construction, and decommissioning, including senior leadership roles at TechnipFMC, Subsea 7, EMAS, and Promethean Decom. He is also the Chairman of the Offshore Network Decommissioning & Abandonment GOA Conference.
Bernt Arne Breistein, Group CEO of Control Cutter, said, "By combining the Group Chief Commercial Officer and Regional Managing Director roles in one position based in the United States, we put commercial decision-making closer to our customers while keeping strategies aligned across all our regions, the US, Norway, the UK, Brazil and beyond, as we grow. Steve's track record in decommissioning is exactly what this role calls for, and we are delighted to have him on board."
Control Cutter is a service provider which houses a portfolio of patented cutting tools for decommissioning, including conductors, casings, anchor chains, risers, umbilicals and flowlines. The company has bases in the UK, Norway, Brazil, and the US.
Gone are the days of single-scope, piecemeal contracts ever since offshore operators have unravelled the cost and operational benefits of integrated services.
Synchronised delivery dramatically replaces the need for heavy-lift vessels mobilisation, making formidable end-of-life campaigns look like a cakewalk. Its also a win-win for both the operator and the integrated services provider as the former gets maximum price value even when the latter secures considerable profit as the sole provider with no other contractors to share the profits with.
An oil major with operations in the Gulf of America has selected Promethean Energy for the planning and execution of integrated offshore decommissioning work of a massive scale.
Ensuring cost and operational efficiency in late-life asset optimisation and offshore decommissioning, Promethean works in an integrated model that takes care of multiple aspects, including supply chain optimisation, operator-style planning, data-driven continuous improvement and intensive execution oversight. For this asset in the shallow water of the Continental Shelf of the Gulf of America that is nearing end of productive life, Promethean will deliver project management, engineering, regulatory coordination, contractor oversight, HSE management, and execution support. Danny Turner, Senior Vice President of Decommissioning will be spearheading a multidisciplinary team with roles across engineering, operations, regulatory, commercial and HSE.
The contract requires delivering a complex, multi-phase project spanning wells, facilities and subsea infrastructure in a safe manner, while navigating regulatory considerations. Regulations compliance, especially in decommissioning, is solid with overseers, Bureau of Safety and Environmental Enforcement (BSEE) and Bureau of Ocean Energy Management (BOEM) now working as a combined entity -- Marine Minerals Administration (MMA) – within the Department of the Interior, US Coast Guard and relevant industry standards.
Five wells will be plugged and abandoned as part of the campaign, with two subsea pipelines needing abandonment as well. It will also apply for the removal of two offshore structures through to site clearance operations. While well decommissioning will begin this summer, offshore facilities removal activities will continue well into 2027.
“The selection of Promethean Energy reflects the confidence our clients place in our ability to safely execute complex offshore decommissioning projects while maintaining regulatory compliance and cost discipline,” said Martyn Fear, Chief Operating Officer of Promethean Energy.
“Our team brings extensive Gulf of America experience across wells, facilities and subsea infrastructure, supported by proven project excellence processes, a strong HSE culture and integrated data management systems that provide transparency across every phase of execution. We look forward to working closely with our client and our contractor partners to deliver this project safely, efficiently and responsibly.”
From introducing advanced technology for safe decommissioning executions to platform repurposing and everything in between, Promethean's activities in the Gulf of America run deep.
The Who Dat East Joint Venture, operated by LLOG, has sanctioned the development of the Who Dat East field, located in lease MC 509-1, in water depths of approximately 1,300 metres.
The project is a one-well development comprising the completion of the 2024 Who Dat East discovery well, the construction of a 29-kilometre pipeline to the Who Dat Floating Production System (FPS), installation of subsea controls, and minor upgrades to the FPS.
First production is expected in the second half of 2028, at an initial gross production rate of approximately 6,500 bopd of liquids and 50 MMscf/d of gas.
LLOG Exploration, which was acquired by Harbour Energy in February 2026, holds a 40% interest in the joint venture company alongside partners, Karoon USA (40%) and Westlawn Americas Offshore (20%).
A statement issued by Australia-listed Karoon Energy reported that its total net capital cost is estimated at US$155mn to US$165mn, which would equate to a total project cost of around US$400mn, split across the three equity partners.
It added that Who Dat East oil and gas production will be co-mingled, transported and processed through the existing Who Dat infrastructure and will follow the same routes to market.
“We are delighted to reach FID on Who Dat East,” said Karoon’s CEO and MD, Carri Lockhart.
“The development is economically attractive and will deliver material low cost, high margin production to Karoon when it comes online in the second half of 2028.”
Lockhart cited “strong collaboration” on the development and that the partners “look forward to commencing the construction phase of the project.”
Talos Energy has eliminated approximately US$54 million in asset retirement obligations (ARO) and decommissioning obligations following the completion of its divestment of non-core shelf assets.
In its Second Quarter 2026 Operational and Financial Results, Talos said it had completed the divestment of its non-core shelf, non-operated gas assets on 15 July 2026. The transaction eliminated approximately US$54 million in ARO and decommissioning obligations.
The company also reported US$112.5 million in capital expenditures during the second quarter, excluding plugging and abandonment and settled decommissioning obligations.
The results cover the three months ended 30 June 2026 and include Talos’ operational and financial performance for the period.
The company highlighted the completed non-core shelf divestment as part of its strategic developments during the quarter. The transaction removes the associated asset retirement and decommissioning obligations from Talos’ portfolio.
Talos Energy has completed a workover on the Genovesa well and returned it to production, marking a key well intervention milestone during the second quarter of 2026.
The company reported the completion of the workover as part of its latest operational and financial results for the three months ended 30 June 2026. The well was brought back online late in the second quarter as Talos continued to focus on improving the performance and reliability of its offshore production portfolio.
Alongside the Genovesa intervention, Talos completed drilling operations at Monument #3, where the well encountered approximately 250 feet of net pay, in line with pre-drill expectations. The company also began its Daenerys appraisal well programme, with results from the first appraisal well expected by the end of 2026.
The operational progress contributed to stronger-than-expected production during the quarter. Talos produced 68.6 thousand barrels of oil per day and 93.7 thousand barrels of oil equivalent per day, with both oil and total equivalent production exceeding the company's guidance ranges. Talos attributed the performance to strong uptime and well performance.
The company generated $300.6 million in net cash from operating activities and US$231.6 million in Adjusted Free Cash Flow. Net income was US$149.7 million, while Adjusted EBITDA reached $402.4 million.
Talos invested $112.5 million in capital expenditure during the quarter, excluding plugging and abandonment and settled decommissioning obligations. At 30 June 2026, the company held $577.6 million in cash, with an undrawn credit facility and net debt to LTM Adjusted EBITDA of 0.5x.
Beyond the completed Genovesa workover, Talos is progressing several offshore development and exploration activities. The company announced a strategic development farm-in transaction with Repsol in offshore Mexico Block 29 and agreed to acquire an 80% operated interest in an offshore Honduras block covering more than 4 million gross acres through a seismic commitment.
Talos also announced the acquisition of Gulf of America deepwater oil assets from Shell, with the transaction expected to close during the third quarter of 2026. BP elected not to exercise its preferential right.
The company raised its full-year 2026 production guidance midpoint to 66 MBo/d and 89 MBoe/d, excluding the announced Gulf of America acquisition and after adjusting for the closed non-core shelf divestment.
Talos further strengthened its financial position through the issuance of US$800 million of 8.000% notes due 2034. The proceeds were used to fully redeem $625 million of 9.000% notes due 2029 and fund part of the previously announced Gulf of America acquisition.
Looking ahead, the company has also secured a rig contract for the West Vela drillship, which is scheduled to commence in mid-2027 for an initial one-year term with extension options.
"The second quarter marked another meaningful step forward in the execution of our strategy and reinforces our confidence in the long-term value creation opportunities ahead," said Paul Goodfellow, President and Chief Executive Officer of Talos.
"We advanced all three pillars of our strategic framework as we continue to build a long-lived, scaled portfolio by expanding our deepwater scale, enhancing our development inventory through greenfield opportunities, and adding large-scale exploration potential at low entry cost. At the same time, our teams continued delivering on the Optimal Performance Plan, achieving more than 65% of the 2026 target in the first half of the year and demonstrating our relentless focus on operational excellence, cost discipline and value creation.
These strategic achievements were complemented by strong execution across our base business. We exceeded the high end of our production guidance ranges, increased our full-year production outlook and generated record Free Cash Flow. We also commenced the Daenerys appraisal program, which has the potential to further enhance the longevity of our deepwater portfolio.
Taken together, these accomplishments demonstrate our ability to successfully execute on both fronts – advancing our Three Strategic Pillars while continuing to deliver exceptional operational and financial results from our base business. With strong momentum across the organization, we remain focused on building the foundation to be a leading pure-play offshore E&P and look forward to closing the previously announced Gulf of America bolt-on acquisition later in the third quarter."
As Shell Offshore Inc gives up 50% non-operated working interest in the Na Kika platform and associated fields in the Gulf of America, buyers Talos Energy and Ridgewood Energy will be required to assume certain decommissioning obligations with security coverage.
Approximately US$1.7bn transaction, it will also include the Coulomb tieback, which belonged entirely to Shell.
In Shell's outlook, Na Kika and Coulomb can be considered rapidly declining assets, which may reach end of life over the next few years. Last year, the assets generated around 37,000 barrels of oil equivalent per day for Shell. Its proven reserves generated from Na Kika by the end of 2025 were 4.3 million barrels of oil equivalent (boe) while from Coulomb it were 7.2 million boe. The major is now reshaping its deepwater asset portfolio with a focus on attaining scale, efficiency and infrastructure.
“The Gulf of America is one of our highest-value basins, and we are actively shaping our portfolio to ensure our Upstream business continues to be resilient and increasingly competitive,” said Peter Costello, Shell’s Upstream President. “We remain focused on sustaining our material liquids production into the next decade.”
The Na Kika semi-submersible platform is Shell’s only non-operated platform in the Gulf of America, which began producing in 2003. bp, as operator of the platform, holds the remaining 50% working interest. The Coulomb tieback has been producing since 2005.
The United States remain a key market for Shell, with operations and interests in all 50 states. The company is one of the frontrunners in the Gulf of America as deepwaters operator, with significant presence in the region as an oil and gas producer and US LNG buyer.
As part of portfolio optimisation and growth strategy, Baker Hughes Company's acquisition of Chart Industries comes as a value addition for the industrialised energy solutions company.
“Chart’s thermal management solutions bring complementary capabilities and aftermarket service offerings that accelerate our portfolio strategy,” said Baker Hughes Chairman and Chief Executive Officer, Lorenzo Simonelli. “Together, we will expand the solutions we deliver across a broader range of energy and industrial markets and create greater value for customers and shareholders. We welcome our new colleagues to Baker Hughes and look forward to working with them to deliver disciplined execution and maximise synergies as we move forward.”
Baker Hughes Chief Infrastructure & Performance Officer Jim Apostolides has been appointed senior vice president to lead the Chart segment.
“Congratulations to Jim on his well-deserved appointment as segment leader,” Simonelli added. “Jim’s business rigor, demonstrated through decades of global supply chain experience and operational leadership of large complex facilities around the world, makes him well-suited to lead implementation of the Baker Hughes Business System within Chart. We look forward to his leadership and continued success, quickly delivering value for our customers and shareholders as one company.”
Chart will be a new reporting segment within Baker Hughes, adding to the scale and strategic importance of its diverse services in air and gas handling, thermal management, and lifecycle services. For Chart, the acquisition means full integration and synergy capture across Baker Hughes while keeping its commercial and operational focus intact.
Baker Hughes is increasingly prioritising synergy capture in supply chain, functional support and manufacturing to achieve cost optimisation. Its signature Business System is supporting operational alignment as part of its newly launched comprehensive integration programme. The Chart acquisition will solidify Baker Hughes' industrial portfolio and enhanced recurring aftermarket services.
Energy data and AI specialist Enverus has expanded its subsurface data offering with the acquisition of the A2D well log library from TGS, bringing what it says is the world's largest commercial well log database onto its energy intelligence platform.
Announced on 8 July, the deal adds more than eight million depth-calibrated raster logs, 1.9 million digital LAS files and over five million proprietary well logs covering every major US producing basin.
Financial terms of the transaction were not disclosed.
Enverus said integrating A2D's well logs, formation tops and petrophysical data with its existing production, completions, land, ownership, cost and economics datasets will give customers a more connected view of the subsurface, helping them move from geological interpretation to commercial decision-making more quickly.
"We have always believed energy data becomes more valuable when it is connected," said Manuj Nikhanj, CEO of Enverus.
"A2D brings subsurface depth and quality that customers have trusted for decades. When logs, tops and petrophysics can be connected with production, completions, ownership, costs and economics, teams can move from understanding the rock to understanding the return."
The acquisition also brings more than two million interpreted formation tops, basin temperature models and analytics-ready log attributes into the Enverus platform, allowing users to carry out basin-scale reservoir analysis without moving between multiple systems. Existing A2D licensing and subscription agreements will remain in place.
For TGS, the transaction marks the next chapter for a well log library that has been built up over more than three decades.
"We built the A2D library into something the industry depends on, and this transaction ensures it keeps getting better," said Kristian Johansen, CEO of TGS.
"Our customers have always wanted to take this data further into their workflows. Enverus gives them the platform to do that."
The acquisition follows Enverus' recent purchase of PDS Energy Information's exchange assets and reflects the company's wider strategy of bringing together subsurface, operational and commercial data within a single platform to support energy companies across the asset lifecycle.
Talos Energy Inc has announced the execution of a definitive agreement to jointly acquire certain deepwater assets in the Gulf of America from Shell Offshore Inc, alongside an affiliate of Ridgewood Energy Corporation.
"We are pleased to announce the acquisition of these high-quality deepwater assets directly aligned with Pillar Two of our strategy. The bolt-on is highly accretive, materially enhances free cash flow, and includes Infrastructure-Led Exploration opportunities where our field life extension track record can unlock value beyond current reserves. We also see a clear pathway for operated development activity to compete for capital beginning in 2027, further supporting long-term value creation as we continue to advance our strategy to build a long-lived, scaled portfolio and become the leading pure-play offshore E&P," said Talos President and Chief Executive Officer, Paul Goodfellow.
Talos Executive Vice President and Chief Financial Officer, Zach Dailey said, "This strategic transaction in the Gulf of America is expected to be immediately accretive to key financial metrics and deliver long-term value while maintaining balance sheet strength and preserving financial flexibility. Importantly, the increased borrowing base reflects strong confidence from our lenders in the quality of the acquired assets, Talos's base business, and the financial framework that underpins our strategy. On a pro forma basis, we expect to maintain leverage consistent with our financial framework."
The acquisition holds highly accretive to key financial metrics for Talos as it will ensure low-cost, high-margin, oil-weighted production. It can potentially add proved reserves of approximately 23 million barrels of oil equivalent (MMBoe) and 10 MMBoe of probable reserves, with additional operated Infrastructure‑Led Exploration (ILX) opportunities supporting future growth. Production for the first quarter 2026 was 16 thousand barrels of oil equivalent per day (MBoe/d), ~77% oil.
In line with its previous guidance, Talos has also completed the Genovesa workover and returned the well to production late in the second quarter of 2026.
The first Monument development well was successfully drilled to its total measured depth of 32,250 feet and encountered 245 feet of net pay confirming pre-drill expectations. Drilling is set to commence on the second development well followed by completion operations on both wells. First oil is expected by late 2026.
The Company expects to update its 2026 operating and financial guidance for the Acquisition following closing.
Trendsetter Vulcan Offshore (TVO), a developer of innovative offshore industry solutions, has deployed its proprietary Hercules tethered blowout preventer (TBOP) system to support the restart of a shut-in well in the Gulf of America (GoA)
“Our TBOP technology is the foundation of innovative solutions installed globally, and we are continually refining functionality to meet the operator’s precise needs” said TVO President Jim Maher. “We work directly with energy companies to understand performance requirements so we can quickly tailor site-specific solutions.”
For a recent installation in the northwestern sector of the GoA, TVO partnered with an operator that had previously used the Hercules TBOP system successfully on another project. The advanced system was developed to enable a deepwater floater equipped with a dynamic positioning (DP) system to operate safely in shallow-water environments.
The operator engaged TVO during the well planning phase, outlining the conditions at the well location and its intention to deploy a DP rig that had been operating under a long-term deepwater contract to carry out the workover of a shallower-water well. This approach removed the requirement for a separate moored rig at the site, avoiding additional costs.
TVO’s technical team completed the necessary BOP modifications for the well location, rapidly designing and customising the system while conducting in situ load testing, marking the first time this validation process had been completed on site. The installation was successfully executed, allowing the deepwater DP rig to safely perform the workover operation.
For more than a decade, TVO’s solutions have supported offshore operations by enhancing safety and addressing complex technical and operational challenges in demanding environments. The company’s technologies have been deployed across the Gulf of America, North Sea, Australasia and South America.
Trendsetter Vulcan Offshore (TVO), a developer of innovative offshore industry solutions, has deployed its proprietary Hercules tethered blowout preventer (TBOP) system to support the restart of a shut-in well in the Gulf of America (GoA)
“Our TBOP technology is the foundation of innovative solutions installed globally, and we are continually refining functionality to meet the operator’s precise needs” said TVO President Jim Maher. “We work directly with energy companies to understand performance requirements so we can quickly tailor site-specific solutions.”
For a recent installation in the northwestern sector of the GoA, TVO partnered with an operator that had previously used the Hercules TBOP system successfully on another project. The advanced system was developed to enable a deepwater floater equipped with a dynamic positioning (DP) system to operate safely in shallow-water environments.
The operator engaged TVO during the well planning phase, outlining the conditions at the well location and its intention to deploy a DP rig that had been operating under a long-term deepwater contract to carry out the workover of a shallower-water well. This approach removed the requirement for a separate moored rig at the site, avoiding additional costs.
TVO’s technical team completed the necessary BOP modifications for the well location, rapidly designing and customising the system while conducting in situ load testing, marking the first time this validation process had been completed on site. The installation was successfully executed, allowing the deepwater DP rig to safely perform the workover operation.
For more than a decade, TVO’s solutions have supported offshore operations by enhancing safety and addressing complex technical and operational challenges in demanding environments. The company’s technologies have been deployed across the Gulf of America, North Sea, Australasia and South America.
Two companies offering well intervention and other specialist offshore services in the Gulf of America, Helix Energy and Hornbeck Offshore Services, are moving ahead with a major merger plan.
In a June presentation to investors — Creating a Premier Integrated Offshore Services Company — Helix Energy outlined the rationale behind the deal ,and status of the transaction, which is expected to close in the second half of 2026, subject to approvals.
Helix Energy is a well-known supplier of well intervention, subsea robotics and technical services in the Gulf of America and overseas, while Hornbeck Offshore is renowned for its high-spec fleet of specialty vessels.
After the merger, the presentation noted that more than half of total group revenues will come from the US market, with Brazil, North Sea and West Africa also significant.
Approximately 80% of the 2025 combined revenues across both companies were derived from the oil and gas sector, with non-oil and gas accounting for just 20%.
While Hornbeck brings with it a larger fleet of offshore support and multipurpose vessels, Helix boasts a strong and established well intervention fleet.
In its Q1 2026 results, Helix Energy reported robust growth in its well intervention business, with results driven, in part, by strong Gulf of America activity.
Well Intervention revenues increased $28.4mn, or 16%, during the quarter compared to the prior quarter, primarily due to increases in the Gulf of America and Brazil, it noted.
The combined company will be renamed Hornbeck Offshore Services and trade on the New York Stock Exchange.
The post-merger team will be led by Todd M. Hornbeck, who will serve as the new combined entity’s President, CEO and Director.
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