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Led by co-CEOs Will Hickey and James Walter—both under 40—Permian Resources has quickly become the largest pure-play producer in the Delaware Basin, proving that bold strategy and disciplined execution still win in a volatile market. It’s now the largest pure-play oil company in the Delaware Basin (Texas/New Mexico). 1762 in 2025.
Oil and Gas 360 April 28, 2023 For over 25 years, global petroleum consultancy Netherland, Sewell & Associates, Inc. NSAI is pleased to announce it is hosting its Oil & Gas Property Evaluation Seminar in Dallas this year with a two-day session on May 1-2, 2023.
It covers total production figures, performance by key operators, and state-level contributions, focusing on key basins such as the Permian Basin, Appalachian Basin, Denver-Julesburg (DJ) Basin, Onshore and Offshore Gulf of America (Mexico), Williston Basin, and Greater Anadarko Basin. in 2024.
The inventory of proposed gas power plants in Texas as reported Wednesday by Environmental Integrity Project includes multiple plants in Permian Basin. During Texas legislative sessions of 2023 and 2025, lawmakers provided a total of $10 billion in public financing of low-cost loans for new gas plants, according to The Texas Tribune. .
The Louisiana Coastal Protection and Restoration Authority (CPRA) recently released its 2023 draft Coastal Master Plan , which is required by law to be updated every six years. A total of 61 restoration projects and 12 risk reduction projects were ultimately selected for inclusion in the 2023 plan. [4]
The Permian, Eagle Ford and Williston In this report, we will analyze the latest developments in the 3 largest US tight oil basins, which include the Permian, Williston, and the Eagle Ford. Together, these basins were producing over 7.5 million barrels of oil per day in May 2023, while outside these basins less than 1.2
In this report, we will analyze the latest developments in the 4 largest US tight oil basins, which include the Permian, Williston, Eagle Ford, and the Denver-Julesburg (DJ). Together, these 4 basins were producing over 8 million barrels of oil per day (b/d) in August 2023, while outside these basins less than 0.8
Appalachian Basin Oil Companies List Unlock new business opportunities with our Appalachian Basin Oil Companies List , a powerful sales and marketing resource for service providers targeting the energy sector. Get instant access and accelerate your business growth in the Permian Basin. Get your list now!
The Midland Basin Oil Companies Directory is a compiled directory of oil & gas companies operating in West Texas that focus on the Midland Basin, one of the most prolific oil and gas-producing regions in the United States. Permian Wells Drilled 2024 Number of wells drilled in the Midland Basin in 2024. last}@company.com).
According to the latest Baker Hughes report, oil rigs experienced the steepest single-week decline since June 2023, falling by nine to 480. The Permian Basin is seeing output contraction and rig pullback despite being the top U.S. April 14, 2025 The U.S. million bpd ( from 6.57 million bpd ( from 6.57 oil-producing region.
The Delaware Oil Companies Directory is a compiled directory of oil & gas companies operating in the Texas & New Mexico that focus on the Delaware Basin, one of the most prolific oil and gas-producing regions in the United States. Permian Wells Drilled 2024 Number of wells drilled in the Delaware Basin in 2024.
The 2023 Chambers USA Legal Guide ranked 31 different firm practice areas, and in 2024, Haynes Boone became the first Am Law 100 firm to ever earn a Gold-level Bell Seal from Mental Health America. News & World Report and Best Lawyers “Best Law Firms” 2023 survey ranked Haynes Boone in National Tier 1 in Oil & Gas Law.
Formed in 2023 and backed by Bayswater Management , Tejon Treating & Carbon Solutions is rapidly establishing itself as a cornerstone in the Permian Basin’s sour gas infrastructure landscape.
Below we summarize recent (2024–2025) drilling activity, budget allocations, and production volumes in Oklahoma (primarily the Anadarko Basin and related plays) for six companies: Ovintiv , Mach Natural Resources , Devon Energy , Coterra Energy , Continental Resources , and Mewbourne Oil Company. Liquids” includes crude oil and NGLs.
million barrels (80,200 barrels per day) up 23 percent from 2023. million boed (170,000 boed) up 12 percent from 2023. Estimated net proved reserves at yearend 2024 were 673 million barrels of oil equivalent, including 51 percent in south Texas, 34 percent in Midland Basin and 15 percent in Uinta Basin.
Public Utility Commission of Texas approved a plan to build the first extra high voltage transmission lines in ERCOT to help meet the rapidly growing power needs in Permian Basin. The post Public Utility Commission approves first extra high voltage lines in Permian Basin appeared first on Permian Basin Oil and Gas Magazine.
billion cubic feet per day compared to 2023. Production growth in Permian Basin was offset by declining production in Haynesville and flat production in Appalachia. Bcfd in 2023. Bcfd in 2024 11 percent less than 2023. The post Permian Basin produced 22 percent of natural gas in U.S. natural gas output.
By EDF Blogs By Nini Gu Data recently collected by EDF’s MethaneAIR project in 2023 reveals a striking difference in the emissions profiles between the two major Colorado basins: the Denver-Julesburg (D-J) in the east, and the Piceance in the west. The D-J Basin exhibited a 1.7%
The 2023 Chambers USA Legal Guide ranked 31 different firm practice areas, and in 2024, Haynes Boone became the first Am Law 100 firm to ever earn a Gold-level Bell Seal from Mental Health America. News & World Report and Best Lawyers “Best Law Firms” 2023 survey ranked Haynes Boone in National Tier 1 in Oil & Gas Law.
The Ahara license, awarded under the North African country’s 2024 bidding round, sits at the “intersection of the prolific Berkine and Illizi Basins”, TotalEnergies said in a press release. percent) and the Ourhoud and El Merk oil fields in the Berkine basin located in Blocks 404a and 208 (12.25 TotalEnergies owns 26.4
New well permit activity in the Permian Basin is showing signs of a notable pullback in 2025. Oil price uncertainty : Crude prices have softened from 2023 highs, leading to tighter drilling budgets. What’s Driving the Slowdown? M&A transitions : Major mergers (e.g., The slowdown is not a collapse — but a recalibration.
In this report, we will analyze the latest developments in the 4 largest US tight oil basins, which include the Permian, Williston, Eagle Ford, and the DJ. Together, these basins produced more than 7.2 Total production by basin The following overview shows the total tight oil production history for each of these basins.
“The partners will evaluate several CO2 storage sites in the Malay Basin, including both saline aquifers and depleted offshore fields”, France’s TotalEnergies said in a press release then. Petronas is part of the NETR Committee. To contact the author, email jov.onsat@rigzone.com What do you think?
Diamondback is one of the largest players in the Permian Basin, second only to Exxon Mobil, based on gross operated oil volumes. [1] Although the recent Diamondback deal sets a new benchmark at $7 million per location, exceeding a comparable 2023 Permian deal of OXY’s CrownRock acquisition at $4.8 million per location. [2]
The Permian Basin continues to demonstrate resilience and growth as we close out the fourth quarter of 2024. Production Growth Despite Fewer Rigs Oil production in the Permian Basin increased to 6.5 compared to 2023. Housing Market: Sales and Prices Climb The Permian Basins housing market showed continued strength in Q4.
Our 2023 Corporate Responsibility Report highlights our successes, including our operational results, pipeline safety programs, risk management, and emissions reduction programs, among others. billion in organic growth projects, including an eighth fractionator at Mont Belvieu NGL Complex and a new processing plant in the Permian Basin.
Civitas Resources is reportedly considering the sale of its oil and gas assets in Colorados Denver-Julesburg (D-J) Basin and may reinvest the proceeds in acquiring additional assets in the Permian Basin, including the highly sought-after position held by Double Eagle IV, according to analysts and media reports.
(Oil Price) –The Permian Basin has been the star of the U.S. According to the energy investment firm , Montney is the top shale basin in North America with a view to future supply, sporting massive volumes of untapped resources with a high quality. shale oil and gas industry for years. And its in Canada.
The Denver-Julesburg (DJ) Basin continues to stand out as one of the most consolidated and cost-effective oil and gas plays in the U.S. Recent developments including record-setting drilling lengths, regulatory headwinds, and shifting capital strategies are reshaping how major and mid-sized players approach the basin in 2025.
Inclusive of the Sitio merger and a major dropdown from Diamondback, Viper has now spent over $8 billion on acquisitions in 2025 or more than the cumulative value of all disclosed mineral M&A in 2023 and 2024. The company was previously focused on the Midland Basin and particularly on interests operated by Diamondback. shale play.
drilling activity continued to decline last week, marking the sixth consecutive weekly drop in the national rig count—something not seen since late 2023. Several major basins, including the Permian and Eagle Ford, recorded new lows. June 9, 2025 U.S. Here is a summary of the U.S. million bpd (record) 2025: 13.4
The move aims to capitalize on the fact that the VTX oil and gas business is one of the few remaining privately-owned operators of scale in the Permian basin after the last two years run of dealmaking in the top U.S. In 2023, Vitol sold Vencer to Civitas Resources in a deal worth $2.1 VTX is Vitols second U.S.
EIA said March 4 the decline was concentrated in Haynesville and Appalachia, where gas rigs declined by a combined 34 percent during 2023 (43 rigs) and 24 percent in 2024 (21 rigs). per million British thermal units in 2022, it fell 62 percent in 2023 ($4.31 After the U.S. MMBtu) and an additional 16 percent in 2024 ($0.43
Permian Resources Corporation, a leading pure-play operator in the Delaware Basin, has reported strong first-quarter 2025 financial and operational results and announced a strategic bolt-on acquisition of APA Corporations Northern Delaware Basin assets for $608 million. million shares repurchased in April 2025 ($10.52
The Dispute But in 2023, Chevron proposed a $53-billion deal to buy Hess Corp and thus take Hesss assets in the Bakken in North Dakota and the 30% stake in Guyanas offshore oil fielda top-performing asset with the potential to yield even more barrels and billions of U.S. In 2023, ExxonMobil, Hess, and CNOOC booked a combined $6.33
(World Oil) –Vista Energy has acquired Petronas’ 50% stake in a region of the Vaca Muerta shale basin in a deal valued at $1.5 In addition, as of December 31, 2023, LACh had 280 million barrels of oil equivalent (MMboe) of P1 reserves according to the Argentine Secretary of Energy (at 100% working interest). billion USD.
The total count is down 35 rigs, or 6%, from the same time last year, with the Permian Basin, Eagle Ford, and Texas all hitting their lowest levels since November 2021. energy production hit a record high of over 103 quadrillion British thermal units, up 1% from 2023. million barrels per day, a 2% increase from 2023.
Midland-based Permian Resources said last week it plans to increase production in 2025 by 8 percent to 360,000 to 380,000 boed and reduce well costs to $775 per lateral foot (compared to $800 in previous three months and $950 at yearend 2023). Co-CEO James Walter said Feb.
Ring is in the process of bolting on central basin platform assets from Lime Rock and is divesting expensive, non-core vertical wells. Ring drilled 5 horizontal wells and 4 vertical wells and completed 10 wells with all drilling and completion activity occurring in central basin platform. Capital expenditures in 4Q for Ring were $37.6
The record $120 billion upstream M&A spending spree in 2024 focused on the consolidation of Permian Basin positions by the major U.S. MMboe/d of production, almost 25% of their 2023 Permian output. publicly traded oil and gas companies.
Over the past two years, 2023 and 2024, production levels have soared, investment strategies have shifted, and new regulatory frameworks have emerged. Now, as we step into 2025 , the industry faces critical questions : Which basins will see the most growth? 2023 Production: ~6.0 We analyze major U.S. 2024 Production: 6.3
EIA said April 16 most of the growth came from Permian Basin. Permian region production also accounted for almost all the growth in 2024, rising by 370,000 b/d compared to 2023 to average 6.3 Permian averaged 308 active drilling rigs in 2024 to account for more than half the rigs in operation (26 fewer rigs than in 2023).
Image by Daniel S Ragnarsson via iStock OMV AG plans to launch a seismic survey in December to explore the potential of geothermal energy in the East Styrian basin in the greater Graz area. The Austrian state-backed energy company expects to drill an exploration well in the second half of 2026.
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