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Uganda National Oil Company (UNOC) is on the lookout for a joint venture partner to help it explore and develop an oil block in the western part of the African country, a spokesperson for the state-owned oil firm told Reuters on Wednesday. The agreement could be renewed twice for two years, and the state oil firm renewed the deal in March.
percent stake during the exploration and appraisal phases. Algeria contributed 154 million cubic feet a day of gas and 21,000 barrels per day of liquids to TotalEnergies’ 2024 production, according to the company’s annual report. square miles) onshore Algeria. France’s TotalEnergies will serve as operator with a 24.5
Brent Crude $78.03 +1.73% Natural Gas $4.04 +1.35% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS Inpex Granted Production Concession for UAE Block by Rocky Teodoro | Rigzone Staff | Thursday, June 19, 2025 | 8:56 AM EST The Japanese energy firm has been conducting exploration and evaluation activities in the block since 2018.
â McKinsey, March 21, 2023. We estimate that levelized production costs for a first-of-a-kind, commercial-scale (more than 50 megawatts) next-generation geothermal facility in the United States could range from $75 to $120 per megawatt-hour. Improved well productivity.
They directed their capital to cheaper oil production, and favored U.S. The switch has improved oil output productivity at Imperial’s Kearl oil sands mine by 20% since 2023, the company said. Prices have begun to climb because after years of heavy drilling in the top shale fields, the most productive areas have been exhausted.
The ruling by the Paris-based International Chamber of Commerce marks a key win for Chevron CEO Mike Wirth, who targeted the Hess acquisition to grow the company’s production and keep pace with larger rival Exxon’s rapid expansion. producer in October 2023 with its acquisition of U.S. energy sector. million bpd by the end of 2027.
“Those savings would give operators the ability to reinvest in new energy production, helping drive domestic energy development while reducing the need for duplicative infrastructure”, the DOI said. billion in industry savings annually under the updated regulations.
Image by Oleksii Liskonih via iStock TotalEnergies SE said Wednesday it has unlocked new production of 60,000 barrels per day (bpd) gross in Angola with the start-up of Begonia and CLOV Phase III. The project consists of five wells tied back to the Pazflor floating production, storage and offloading (FPSO) vessel.
in Mechanical Engineering from the University of Alberta and has held previously roles at Sanjel Corporation, Zodiac Exploration, and Pinnacle Technologies, specializing in hydraulic fracturing in unconventional reservoirs. At Liberty, he focuses on technology innovation, service quality, efficiency, and optimization. Ron holds a B.Sc.
In May, Texas energy producers paid $411 million in oil production taxes, according to the Texas comptroller’s office. Producers last month also paid $227 million to the state in natural gas production taxes, up 26 percent from May 2024. Oil production has jumped this year after hitting a record 13.2
Vaca Muerta has hit production of over 400,000 barrels per day of oil and some 70 million cubic meters of gas per day. In 2023, Preska awarded $14.4 .” The judgment adds uncertainty to Argentina’s plans to turn Vaca Muerta, the world’s No. 2 shale gas reserve and No. “It should bring in the U.S. dollars the economy lacks.”
The presenting company lineup as of July 14, 2025, includes: Advantage Energy (TSX: AAV) Amplify Energy (NYSE: AMPY) Anschutz Exploration APA Corp. News & World Report and Best Lawyers “Best Law Firms” 2023 survey ranked Haynes Boone in National Tier 1 in Oil & Gas Law. London, Mexico City, and Shanghai.
The increase was driven entirely by natural gas rigs, which rose by nine to 117 (their biggest jump since July 2023), while oil rigs actually fell by two to a low of 422. Read more US drillers add oil/gas rigs for first time in 12 weeks, Baker Hughes says Summary : For the first time in 12 weeks, the U.S. year low of 422. year low of 422.
Including GVA from the manufacture of chemicals and chemical products, the manufacture of basic metals, and the estimated GVA in the cement and lime industry within the other nonmetallic mineral products sector in 2022 for Portugal and Spain. âETS database v51,â European Environment Agency, May 2023. billion tons by 2030.
Some of the most important levers in todayâs MACCs are efficiency levers such as route optimization, using advanced analytics to optimize routes based on real-time conditions to minimize fuel consumption over time; and predictive scheduling using AI to align production schedules with availability of low-carbon energy.
Esmat noted that he met today with leaders from the Ministry of Electricity and Renewable Energy to ensure the stability of the unified grid and the continuity of power supply, review fuel reserves needed to operate production units, and measures needed to achieve optimal fuel utilization.
Vermilion said the transaction, combined with the sale of its East Finn assets in 2023, completes the company’s exit from the USA. The reduction reflects the removal of all remaining exploration and development capital associated with the Saskatchewan and U.S. divested assets post-closing, the company said.
uranium mining and production. The Mill also handles vanadium and is exploring medical isotope extraction for cancer treatment. sourced monazite and developing three global heavy mineral sand mines to produce up to 60,000 tonnes of rare earth feedstock as a by-product of titanium and zircon mining.
oil-and-gas exploration stocks amid the recent tensions. To expand US critical mineral supplies, Chevron will leverage its drilling expertise and utilize advanced direct lithium extraction (DLE) technologies for future production. million in 2023-24 and an FBI task force estimating $300,000 is lost monthly in stolen tools and pipes.
They provide reserves reports and audits, acquisition and divestiture evaluations, simulation studies, exploration resources assessments, equity determinations, and management and advisory services. News & World Report and Best Lawyers “Best Law Firms” 2023 survey ranked Haynes Boone in National Tier 1 in Oil & Gas Law.
Now let’s flash back to 2023, when Patterson-UTI took a huge step to make itself a major player in the oilfield services world when it acquired NexTier Completion Services. They do cased hole work, both vertical and horizontal production. The other 60 percent is well logging, toe preps, and workover and production work.
OPEC+ members agree to larger-than-expected oil production hike in August Summary : An eight-nation OPEC+ group, including Russia and Saudi Arabia, agreed to a larger-than-expected 548,000 barrels per day (bpd) production hike for August. Stay tuned for weekly updates to keep you well-informed. million bpd of voluntary supply cuts.
Naftogaz won the compensation before the Permanent Court of Arbitration in The Hague in 2023. In October 2024 Naftogaz said a Finnish court had granted its motion to freeze certain Russian-owned assets in Finland including real estate in enforcement of the 2023 award. million), in enforcement of the French decision.
“This acquisition brings new resources to the development of our low-cost and low-emission GranMorgu project”, Javier Rielo, senior vice president for Americas exploration and production at TotalEnergies, said. Production start-up is expected in 2028, the company said. miles (150 kilometers) off the Surinamese coast.
The slump in dealmaking follows a series of blockbuster takeovers by oil and gas majors in recent years, which culminated in a record $192 billion worth of deals done in 2023. Houston-based exploration and production company EOG Resources (NYSE: EOG ) bought Encino Acquisition Partners for $5.6 There were $13.5
megawatt (MW) wind farm in East Ayrshire, Scotland, expecting to put the facility into production 2028. The goal is to develop up to 10 gigawatts capacity of ready-to-build status projects by the early 2030s” In August 2023 Uniper announced plans to invest over EUR 8 billion through 2030 in decarbonization efforts.
dropped 13% from an average of 687 rigs in 2023, to 599 rigs in 2024, an obvious challenge for service companies. million in dividends paid in 2024, up 24% from 2023. QUICK FACTS Trading Symbols: PHX Share Price Today: $8.07 Shares Outstanding: 45.56 million Market Capitalization: $367 million Net Debt: $12.2 million EPS (TTM): $1.16
The proposal, filed with the Bureau of Land Management, would significantly extend the company’s Arctic footprint and marks its most ambitious exploration effort in the region since 2020. President Donald Trump continues to promote increased domestic energy production , particularly in Alaska. The move comes as U.S.
Typical priorities include sharpening the value proposition to both captive and third-party clients; taking stock of distribution footprint, product range, and growth initiatives; finding the right approach to participate in alternative investments; and using technology to improve efficiency, resilience, and scalability.
1 Analysis considers all transactions above $100 million made between 2018 and 2023, excluding acquisitions of minority stakes (meaning that there was no change in control) and physical assets (meaning that the target company didnât involve common stock or the target was a physical asset, such as a cellphone tower or a piece of real estate).
They will need to upskill the workforce, adapt the technology infrastructure, accelerate data productization, and deploy agent-specific governance mechanisms. QuantumBlack combines an industry-leading tech stack with the strength of McKinseyâs 7,000 technologists, designers, and product managers serving clients in more than 50 countries.
Changing search: 46% of Gen Z prefers using social media for brand discovery and to find information about products and services. In late April, Lions 2025 State of Creativity report indicated that 63% of marketers are focused on short-term tactics, up from 53% in 2023. Is there an environmental benefit to working with your company?
Energy Information Administration (EIA) forecast crude oil production in Alaska will increase by 16,000 barrels per day (bpd) in 2026 to 438,000 bpd after remaining relatively flat in 2025. Two new oil developments in Alaska the Nuna and Pikka projects are expected to boost crude oil production in the state after decades of decline.
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.
This report analyzes upstream oil and gas production trends over the last three years, based on data from Rextag Energy DataLink. MMBBL 193 BCF Analysis: Hilcorp leads in gas production but is less significant in oil output. MMBBL 193 BCF Analysis: Hilcorp leads in gas production but is less significant in oil output.
With Colombias reserves of oil and natural gas falling, and President Gustavo Petro refusing to grant new exploration licenses, Ecopetrol is focused on contracts signed before the environmentalist leader took power in 2022. As we find assets and room to increase exploration and reserves, we will do so gradually, Roa said Tuesday.
Canadas oil and gas sector remained resilient in 2024, with several operators reporting record-breaking production volumes. From majors like Canadian Natural Resources and Ovintiv to rising mid-cap producers, this snapshot highlights average daily production across top-performing companies. 102,012 bbl/d (bitumen) SOR of 2.39
The deal increases INEOS Energys production globally to over 90,000 barrels of oil equivalent per day (boed) and marks the third major investment by INEOS Energy in the U.S., mtpa LNG deal completed with Sempra in December 2022 and the acquisition of Chesapeake Energys oil and gas assets in South Texas in May 2023. “The U.S.
Visit the blog to explore the full interactive dashboard These interactive presentations contain the latest oil & gas production. To follow the instructions in this article, please use the interactive dashboards. Furthermore, they allow you to uncover other insights as well.
As of December 31, 2024, it had 247 wells on production. 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). LACh spans across 46,594 acres in the black oil window of Vaca Muerta.
This contract follows another major contract from Woodside for the Trion development to the SLB OneSubsea joint venture in 2023, which includes subsea horizontal trees, controls and topside equipment. First production is targeted in 2028. Manufacturing is currently on track. Woodside is developing the field in partnership with Pemex.
(Investing) –NEW YORK – Global commodities trader Vitol is exploring a sale of its VTX Energy Partners business, in a deal that could value the U.S. In 2023, Vitol sold Vencer to Civitas Resources in a deal worth $2.1 shale oil and gas producer at as much as $3 billion, including debt, people familiar with the matter said.
Minister of Petroleum and Mineral Resources Karim Badawi confirmed that integrating new gas wells within the tenth phase of the West Delta Deep Marine (WDDM) development area into the production map and their connection to the national natural gas network represents a significant milestone for the sector.
In late February, when it made its very unsurprising admission, BP said it would boost spending on oil and gas production by 25% annually while slashing investments in transition-related business by 70%. The important bit, however, is that it will not be reducing this production as it previously intended to do amid its green pivot.
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