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Previously, we reported that natural gas at the Waha hub was selling for near-zero or sub-zero prices for much of 2024 thanks in large part to excess natural gas production in the Permian Basin coupled with limited takeaway capacity due to a shortage of gas pipelines. Consequently, Permian gas…
Global gas flaring at upstream oil and gas facilities has risen for a second year in a row, according to the World Bank’s annual Global Gas Flaring Tracker Flaring rose by 2% to 151 billion cubic meters (bcm) in 2024, the highest level in almost two decades. bcm of the additional gas flaring.
As part of Iraq's government-backed gas development programme, the Ministry of Oil has reported significant progress in reducing gas flaring and increasing gas utilisation. In liquefied petroleum gas (LPG), production rose from 2 million tonnes in 2024 to 3 million tonnes in 2025.
Now, Pantheon is refocusing its efforts on the Dubhe-1 appraisal well, targeting the Ahpun Topset horizon , a reservoir with 282 million barrels of liquids and 804 Bcf of gas , according to a June 2024 report by Cawley Gillespie & Associates. The Nabors 105AC rig is currently mobilizing to the site.
for the sale of its Sylvan Lake gas plant and associatedgas gathering infrastructure for total proceeds of approximately $4 million (CAD 5.5 The Sylvan Lake Gas Processing Facility is a non-core asset of Tidewater located in central Alberta, the company said in a news release. million in the first quarter of 2024.
Natural gas at the Waha hub--a regional pricing hub for gas in the Permian Basin in West Texas--sold for near-zero or sub-zero prices for much of 2024, a trend that has continued in the current year. The Permian Shale boom led to a surge in associatedgas production,
marketed natural gas production remained relatively flat in 2024, according to U.S. Production averaged 113 Bcfd, according to EIAs latest Natural Gas Monthly. natural gas output. In 2024 more natural gas was produced in Appalachia than any other region 31 percent of the U.S. percent in 2024 (0.50
TotalEnergies reveals in its recent annual report that two exploration wells drilled in 2024 on Oman exploration Block 12 (Total 80%op, PTTEP 20%) were dry.
The partners completed the offshore platform for Angolas first non-associatedgas project in February 2025, with production on track for early-2026. Unlocking new E&P markets A slate of discoveries in recent years have opened up new oil and gas plays across the continent.
Each of the new contracts has a three-year term under which Wood will support TotalEnergies to advance the AssociatedGas Upstream Project (AGUP) , a key part of the GGIP project. Wood currently employs over 4,000 people across the Middle East, having increased its headcount by 500 in 2024. Learn more about Wood in Iraq.
Wood currently employs over 4,000 people across the Middle East, having increased its headcount by 500 in 2024. The GGIP includes a large-scale gas processing plant, with a first phase of 300 Mcf/d that will recover gas being flared on three oil fields and supply gas to 1.5 GW of power generation capacity.
The agreement follows a memorandum of understanding signed in July 2024 , with technical terms agreed in December and most commercial terms finalised in January. This opportunity is fully in line with our priority of pursuing new growth opportunities for bp as we strengthen and high-grade our portfolio across the world. "We
The company recorded 266 drilling operations in Q1 2025, marking a 9% increase from 244 in Q1 2024 Oil Gas Leads. Well Substance Focus Cenovus’s drilling activities continue to target a mix of oil and gas resources. Cenovus Energy Inc. billion to $5.0 billion in 2025.
Genel Energy has announced its audited results for the year ended 31 December 2024. Paul Weir, Chief Executive of Genel, said: " In 2024, we demonstrated further progress on our journey of building towards delivering resilient, diversified cash flows. Production costs (17.6) (18.0) EBITDAX1 1.1 Operating loss (52.4) (10.3)
oil and gas production, and ONEOK Inc. During its Q4 2024 earnings call , ONEOK outlined significant infrastructure expansions, acquisitions, and future growth opportunities in the Permian. This move supports the companys growing gas gathering and processing footprint. Bcf/d in 2025.
Jim Teague, Co-CEO: “Rich natural gas production, just sticking to the Permian, continues to exceed our expectations. ” The increase in natural gas liquids (NGLs) and associatedgas production is driving demand for more processing plants, fractionation capacity, and export infrastructure.
The natural gas produced in Khor Mor has also avoided 59 million tonnes of CO2 emissions to date by substituting oil and diesel with cleaner burning natural gas for power generation. This is among the lowest in the industry, supplemented by offsets of the remaining emissions to achieve carbon neutrality across operations.
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