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Private capital is shifting to legacy basins, testing new zones, and leaning into gas plays that were once overlooked,” said Shawn Stuart, principal analyst at Enverus. The post Enverus unveils 2024 Top 100 Private Operators: A New era of agility, innovation and strategic shifts first appeared on Enverus. Learn more at Enverus.com.
Bureau of Labor Statistics (BLS), the Texas Independent Producers and Royalty Owners Association (TIPRO) has highlighted new employment figures showing an increase in upstream employment in Texas in the month of May. Producers last month also paid $227 million to the state in natural gas production taxes, up 26 percent from May 2024.
The Permian Basin is best known as the beating heart of U.S. GW of Permian Demand According to analysis from Rystad Energy, the Permian Basin’s current 7.5 What It Means for the Future The Permian Basin is no longer just an engine of oil production—it’s becoming a permanent high-load demand center for the Texas grid.
billion in the first quarter of 2024. billion for the same period of 2024. Upstream earnings increased by $1.1 The other supermajor, Chevron, also reported its Q1 earnings today, meeting analyst expectations as its refining business returned to profit from a loss in the fourth quarter of 2024. billion, down from $8.2
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. Ahara marks QatarEnergy’s entry into Algeria’s upstream sector, QatarEnergy said separately.
This report analyzes upstream oil and gas production trends over the last three years, based on data from Rextag Energy DataLink. in 2024. in 2024 , indicating a return to growth. State Oil (MMBBL) Gas (BCF) Texas 1,240 MMBBL 1,377 BCF New Mexico 493 MMBBL 391 BCF Pennsylvania 2.41 in 2023 , then increasing by 1.3%
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.
has strengthened its position in the Permian Basin with the strategic acquisition of Silverback Exploration II LLC, adding high-margin production and a deep inventory of undeveloped locations in the prolific Yeso Trend. 31, 2024): Net Acreage: 58,270 net acres Producing Wells: 612 net wells 2024 Avg.
The first quarter of 2025 in the Dealaware Basin kicked off with a significant uptick in oil and gas drilling activity across North America. increase in drilling records compared to the same period in 2024. Contractor and Rig Utilization : Q1 2024 saw 189 unique rigs in operation. 96 records OXY USA Inc.
A Strategic Pipeline Transfer The acquisition was effective as of July 10, 2024 , and documented via a new T-4 permit submission by WBI Midstream. The company is a key player in bridging upstream gas production with downstream markets. miles of unregulated gathering lines 10.50
from 2018-2024. netherlandsewell.com Haynes and Boone, LLP Haynes Boone is an energy-focused corporate law firm that provides a full spectrum of legal services and solutions to clients across the energy industry, including the upstream, midstream, and downstream sectors as well as power and renewables.
netherlandsewell.com Haynes and Boone, LLP Haynes Boone is an energy-focused corporate law firm that provides a full spectrum of legal services and solutions to clients across the energy industry, including the upstream, midstream, and downstream sectors as well as power and renewables. London, Mexico City, and Shanghai.
upstream growth, driven by advantaged assets like the Permian Basin, is central to the companys long-term performance. Upstream Results: Permian Power ExxonMobils U.S. upstream earnings jumped to $1.87 billion in Q1 2024. Upstream Results: Permian Power ExxonMobils U.S. upstream earnings jumped to $1.87
Canadas oil and gas sector remained resilient in 2024, with several operators reporting record-breaking production volumes. The data reflects both oil and gas output, offering a high-level look at market leaders, operational growth, and emerging trends in Canadian upstream development. 102,012 bbl/d (bitumen) SOR of 2.39
upstream M&A reaching $105 billion in 2024the third highest as recorded by Enverusthe market shows no signs of slowing down, with high price tag deals being driven by the scarcity of high-quality inventory. Diamondback is one of the largest players in the Permian Basin, second only to Exxon Mobil, based on gross operated oil volumes. [1]
(World Oil) – Africas national oil companies (NOC) are moving beyond operating as state-representatives by transforming themselves into competitive upstream players. UNOC is also advancing exploration in the Moroto-Kyoga basins, with preliminary studies aimed at uncovering new oil fields.
The record $120 billion upstream M&A spending spree in 2024 focused on the consolidation of Permian Basin positions by the major U.S. publicly traded oil and gas companies.
Viper, which is affiliated with upstream operator Diamondback Energy, has turned to an unusually active spree of deals to create a public mineral company with differentiated scale compared to peers. The company was previously focused on the Midland Basin and particularly on interests operated by Diamondback. billion in 2022.
Aethon has agreed to purchase Tellurians upstream assets for (US) $260MM below street estimates, which ranged from $270MM to $500MM. Despite the market’s dislike of the purchase price, Tellurians upstream assets were in the middle of the pack. Basin-wide, however, ~$3.00/Mcf Basin differentials are assumed to be ~0.25/Mcf,
All in all, were looking at refining margins for the first-quarter of this year that are better than 2024, even as upstream margins weaken and the industry at large expresses concern over a cooling global oil demand outlook.
CERAWeek 2025 Insights ExxonMobils expansion in the Permian Basin took center stage during CERAWeek 2025 , where executives highlighted how technology is reshaping operations to maximize efficiency and production. million barrels per day (bpd) accounting for over 16% of the basins total production. energy production, contributing 6.26.3
The highlights and links to the papers are here: Enhancing Production Efficiency: The Impact of Precision Targeting in the Midland Basin We highlighted the production and economic effects of the landing zone and the benefits of landing wells in the top half of the Lower Spraberry Shale or high in the Jo Mill.
In a new white paper titled What Remains: North American Upstream Inventory, energy private equity firm Kimmeridge outlines which shale basins have the best runway for returns over the next 10 yearsand why the spotlight is now turning to Canada. Todays Economics: Top-tier wells with excellent returnsstill the #1 or #2 play in 2024.
The laws create a DPS oilfield theft unit and task force to address rising pipeline thefts in the Permian Basin, which fuels Texas’ economy. Canada added 2 rigs to 114 (gas +2 to 46), but remains 29 below 2024 levels. Read more Baker Hughes reports U.S. rig count down 4 to 559 rigs Summary : U.S.
2),â Eurostat, accessed June 2024; âEmployment by sex, age, and detailed economic activity (from 2008 onwards, NACE Rev.2 2 two digit level)â1000,â Eurostat, accessed June 2024. In 2024, the European Commission set the CO 2 emission allowance cap at nearly 1.4 percent reduction factor for 2024 to 2027 and 4.4
netherlandsewell.com Haynes and Boone, LLP Haynes Boone is an energy-focused corporate law firm that provides a full spectrum of legal services and solutions to clients across the energy industry, including the upstream, midstream, and downstream sectors as well as power and renewables. London, Mexico City, and Shanghai.
With drilling operations gaining momentum, the sector is signaling a more aggressive operational stance compared to the start of 2024. Q1 2025 vs Q1 2024: A Clear Increase Comparing quarterly results: Quarter Drilling Activities Q1 2024 52 Q1 2025 71 There was a 36.5% increase in drilling activity in Q1 2025 compared to Q1 2024.
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? 2024 Production: 6.3 MMBbl/d production increase in 2024.
netherlandsewell.com Haynes and Boone, LLP Haynes Boone is an energy-focused corporate law firm that provides a full spectrum of legal services and solutions to clients across the energy industry, including the upstream, midstream and downstream sectors as well as power and renewables. London, Mexico City and Shanghai. www.vitesse-vts.com
Quarter-Over-Quarter Growth CNRL recorded 121 drilling activity records in Q1 2025 , up from 114 in Q1 2024. This 6% increase highlights CNRLs steady investment in upstream operations, even amid a broader environment of cautious capital spending.
British Columbias upstream oil and gas sector has seen a surge in well permitting activity over the last few yearsbut drilling activity hasnt kept pace. For example: Ovintiv Canada ULC holds 93 permits from 2024 alone with no recorded drilling activity. The result? Who Holds the Backlog? PETRONAS Energy Canada Ltd.
The company recorded 266 drilling operations in Q1 2025, marking a 9% increase from 244 in Q1 2024 Oil Gas Leads. Production and Capital Investment Looking ahead, Cenovus forecasts an upstream production range of 805,000 to 845,000 barrels of oil equivalent per day (BOE/d) for 2025, representing a 4% increase compared to 2024 Cenovus Energy.
Monthly Well Permits: Actuals and Forecasts An analysis of well permitting activity in the Haynesville Basin reveals a steady pace of development. While specific monthly figures for 2024 and 2025 are not detailed here, the overall trend suggests consistent interest in the region’s potential.
netherlandsewell.com Haynes and Boone, LLP Haynes Boone is an energy-focused corporate law firm that provides a full spectrum of legal services and solutions to clients across the energy industry, including the upstream, midstream, and downstream sectors as well as power and renewables. London, Mexico City, and Shanghai.
netherlandsewell.com Haynes and Boone, LLP Haynes Boone is an energy-focused corporate law firm that provides a full spectrum of legal services and solutions to clients across the energy industry, including the upstream, midstream and downstream sectors as well as power and renewables. London, Mexico City and Shanghai. www.vitesse-vts.com
netherlandsewell.com Haynes and Boone, LLP Haynes Boone is an energy-focused corporate law firm that provides a full spectrum of legal services and solutions to clients across the energy industry, including the upstream, midstream and downstream sectors as well as power and renewables. London, Mexico City and Shanghai. www.vitesse-vts.com
netherlandsewell.com Haynes and Boone, LLP Haynes Boone is an energy-focused corporate law firm that provides a full spectrum of legal services and solutions to clients across the energy industry, including the upstream, midstream and downstream sectors as well as power and renewables. London, Mexico City and Shanghai. www.vitesse-vts.com
netherlandsewell.com Haynes and Boone, LLP Haynes Boone is an energy-focused corporate law firm that provides a full spectrum of legal services and solutions to clients across the energy industry, including the upstream, midstream and downstream sectors as well as power and renewables. London, Mexico City and Shanghai. www.vitesse-vts.com
netherlandsewell.com Haynes and Boone, LLP Haynes Boone is an energy-focused corporate law firm that provides a full spectrum of legal services and solutions to clients across the energy industry, including the upstream, midstream and downstream sectors as well as power and renewables. London, Mexico City and Shanghai. www.vitesse-vts.com
Looking ahead, BP plans to drill around 40 exploration wells over the next three years , underscoring its ambition to expand its upstream production base. Quarterly data analysis shows a modest increase in drilling activity during the first quarter of 2025 compared to the same period in 2024. billion (up from $1.2 billion (up from $1.2
Below, we break down Q1 2025 reports from Equinor , BP , Hess , and Northern Oil and Gas (NOG) , with a side-by-side comparison of production and net income, and a clear snapshot of how they stacked up against Q1 2024. This represents a slight decline compared to 2,164 mboe/d in Q1 2024 a decrease of about 1.9%.
Ballymore is an example of how we are leveraging technology and driving efficiencies to help produce affordable, reliable energy from the deepwater Gulf of America, one of the lowest carbon intensity oil and gas producing basins in the world, said Brent Gros, Vice President of Chevron Gulf of America. owning the remaining 40%.
The discovery comes amid BP's broader pivot away from rapid renewables expansion toward reinforcing its upstream oil and gas portfolio to meet investor expectations and improve financial performance. Gulf Remains Core to BP's Growth The Gulf of America remains a critical area for BPs upstream operations. in Q4 2024.
It has made four oil and gas discoveries, all in Block 52: Sloanea-1 in 2020, Roystonea-1 in 2023 and Fusaea-1 and Sloanea-2 in 2024. In March 2024, Staatsolie and the Block 52 partners agreed to further explore the Sloanea area for potential gas production, leading to the Sloanea-2 discovery. Exxon Mobil Corp.
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