Patterson-UTI Energy Inc., a drilling contractor based in Snyder, Tex., agreed to buy $100 million of rig components from National Oilwell Varco Inc. to build 15 land drilling rigs in 2007. HOUSTON, ...

Off-shore oil drilling currently accounts for over 35% of the world's total oil production, and that number has consistently risen over recent history. While a majority of oil extraction takes place ...

Shell and others say they plan to drill for oil and gas in the Gulf of Mexico in part because doing so releases fewer greenhouse gases than drilling on land. By Ivan Penn Reporting from Shell’s ...

BANGALORE, Aug 3 (Reuters) - Contract driller Rowan Cos Inc reported a quarterly profit that beat analysts' estimates, backed by strong land rig utilization, and said clients were shifting capital ...