Archer Ltd. (ARCH.OL) agreed to buy UK-based well technology company isol8 to expand its plug business and its subsea and rigless plug and abandonment offering.
The Scottish company specializes in alloy-based barrier systems and advanced materials for well completions, intervention and plug and abandonment, according to a Friday release.
The Norway-listed drilling and well services group expects the transaction to close in the second quarter, subject to regulatory approvals.
FAB Securities affirmed its investment opinion on Abu Dhabi National Oil Co. For Distribution (ADX:ADNOCDIST), d/b/a Adnoc Distribution, after the fuel distributor and retailer's first-quarter earnings report."We maintain our BUY rating on ADNOCDIST with an unchanged target price of AED 4.70. ADNOC Distribution delivered a strong performance in 1Q26, continuing to execute its growth strategy despite the ongoing geopolitical situation in the region. The Company reported one of its strongest quarterly performances, achieving double-digit growth in both EBITDA and net profit, reflecting operational resilience and its ability to navigate evolving market conditions while continuing to create shareholder value," according to a first look note published Thursday.For the March quarter, Adnoc Distribution logged a 20.7% year-over-year increase in net profit to 771 million Emirati dirhams, surpassing the research firm's 703 million-dirham estimate. Meanwhile, revenue climbed 4.3% to 8.83 billion dirhams, compared with FAB Securities' forecast of 8.70 billion dirhams.
TotalEnergies (TTE) is considering selling a 50% stake in a portfolio of European renewable energy assets, Bloomberg reported Friday, citing unnamed people familiar with the matter.The French energy major is working with advisers on a potential deal worth several hundred million euros, covering about 1.2 gigawatts of solar and wind farms across France, Germany, Poland, and Spain, sources told Bloomberg.TotalEnergies did not immediately reply to' request for comment.
Zenith Energy (ZEN.L, ZENA.OL) agreed to sell its onshore drilling rig to a Philippines-based company operating in the oil and gas sector.The energy production company said Friday the $4.3 million sale of the ZEN-260 rig will improve its financial position and secure funding to boost development of its Italian solar portfolio.The deal received clearances from the relevant authorities in the Philippines, with the rig's import into the country scheduled for July.