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ExxonMobil-led consortium discovers gas reservoir off Cyprus coast

Oil & Gas 360º

(Investing) – A consortium led by ExxonMobil (NYSE: XOM ) has discovered a natural gas reservoir off the coast of Cyprus, according to a government announcement on Monday. The drilling operation found preliminary indications of a 350-meter gas-bearing reservoir at a depth of 1.9

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Weekly Gas Storage: Inventories increase by Bcf

Oil & Gas 360º

Natural Gas Inventories as of June 6, 2025 The EIA has released its natural gas inventory report, showing a net increase of 122 Bcf as of June 6, 2025. Working gas in storage was 2,707 Bcf as of Friday, June 6, 2025, according to EIA estimates. At 2,707 Bcf, total working gas is within the five-year historical range.

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Global LNG production will drive supply surge in 2026, says IEA

Oil & Gas 360º

(World Oil) – Global supply of liquefied natural gas is set to surge the most since 2019 next year, primarily driven by production additions in North America, the International Energy Agency said. expansion this year, the IEA said in its quarterly gas market report. A project in Qatar will also add to the growth.

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Argentina set for M&A boom under Milei, with energy in focus, PwC says

Oil & Gas 360º

In 2024, Argentina recorded 99 M&A deals, the highest since 2019, with transaction values reaching $8 billion—the largest amount since 2017, PwC data showed. Vaca Muerta, the world’s second-largest unconventional gas reserve and fourth-largest oil reserve, located in the province of Neuquén, is one of Argentina’s main attractions.

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Texas Supreme Court rules produced water belongs to mineral lessee

Permian Basin Oil and Gas Magazine

COG Operating announced June 27 resolves a contentious dispute between surface estate owners and mineral estate holders “with far reaching implications for the water midstream sector and upstream oil and gas industry.” COG said it owned the produced water and sued, the trial court agreed with COG, and the court of appeals affirmed.

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Equinor Files Development Plan for Fram South in Norwegian North Sea

Rigzone

billion) investment to develop Fram South, which will unlock new gas for Europe, the operator said. billion) investment to develop Fram South, which will unlock new gas for Europe, the operator said. Oil comprises 75 percent and gas 25 percent, according to Equinor. It expects the project to start production 2029.

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How Canada’s oil sands transformed into one of North America’s lowest-cost plays

Oil & Gas 360º

bbl between 2017 and 2019, according to BMO. In contrast, a recent Dallas Federal Reserve survey of over 100 oil and gas companies in Texas, New Mexico and Louisiana found that shale oil producers need a WTI oil price of $65 per barrel on average to profitably drill. Back in 2017-2019, U.S.

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