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per barrel in Fall 2024. bbl compared to the Fall 2024 forecasts , largely attributed to expectations of increased production from both OPEC and U.S. Gas has seen a notable short-term increase, with actual prices steadily rising since September 2024. MMbtu in the Fall 2024 forecasts. per barrel from $61.89
The eight OPEC+ countries reaffirmed to start gradual increase in production starting from 1 April 2025 by adding 411,000 barrels per day (bbl/d), equivalent to three monthly increments, in May 2025. The post OPEC+ Reaffirms to Increase Production by 411,000 bbl/d in May first appeared on Egypt Oil & Gas.
Canadas oil and gas sector remained resilient in 2024, with several operators reporting record-breaking production volumes. 579,173 BOE/d +11% from 2023 Suncor Energy ~600,000 BOE/d capacity Oil sands operations Mid-Size Producers (100,000 499,999 BOE/d) Company 2024 Average Production Notes ARC Resources Ltd. Vermilion Energy Inc.
Gulf Keystone Petroleum (GKP) has published details of its payments to governments for the year 2024: Introduction This report sets out details of the payments made to governments by Gulf Keystone Petroleum Ltd and its subsidiary undertakings ('Gulf Keystone') for the year ended 31 December 2024 as required under Disclosure and Transparency Rule 4.3A
Permits from January to June 2025 are up ~20% compared to the same period in 2024 (based on actuals plus forecasted June volumes). The trend is consistent across key producing areas such as Lloydminster, Cold Lake, and Peace River. Optimization + brownfield growth CNRL 810–835K ~2.8 Cost control, reliability Imperial Oil 400–430K ~2.0
Khalda Petroleum Company Chairman Saeed Abdel Moneim reviewed the most important performance indicators and targets for the next fiscal year (FY), indicating that it is planned to invest approximately $1 billion during FY 2024/25. The post Khalda Petroleum Investments to Reach $1B in 2024/25 first appeared on Egypt Oil & Gas.
million in common shares of Tourmaline Taken together, the disposed assets generated $149 million of operating earnings in 2024 (12% of total Strathcona YE 2024 operating earnings, excluding interest and other corporate items) and had a YE 2024 proved PV-10 before-tax of approximately $2.3 (Tourmaline) for $291.5
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.
We addressed the maturity of our bond debt by calling the old bond and issuing a new $100 million bond, thereby increasing available cash and putting in place a capital structure that can provide funding towards delivery on our strategic objectives, regardless of whatever uncertainties may face the business at the macro-economic level.
million shares since the programs launch in August 2024, or ~4% of outstanding Recognized by The Financial Times as the fastest growing energy company across all of the Americas Calgary, Alberta(Newsfile Corp. million shares since the programs launch in August 2024, or approximately 4% of the common shares outstanding at that date.
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) EBITDAX1 1.1
While not as prolific as the Permian or Eagle Ford, it offers strong midstream infrastructure and low breakeven costsmany sub-$50/bbl. Cost Efficiency & Drilling Innovation Chevron reports 75% of its DJ inventory has <$50/bbl breakevens. Civitas drilled record-setting 4-mile laterals in 2024 to improve capital efficiency.
Based on a combination of historical data and AI-driven time series forecasting , well permit volumes from March through May 2025 are expected to total approximately 1,790 permits a sharp decline from the 2,304 permits issued during the same period in 2024.
bbl Natural gas: $1.35/Mcf bbl Cash and Capital Metrics: Cash capex : $501 million Adjusted operating cash flow : $961 million Net cash from operations : $898 million Controllable cash costs : $7.54/boe bbl Natural gas: $1.35/Mcf The upside in natural gas was driven by elevated ethane rejection. Mcf NGLs: $23.90/bbl
Onshore Oil Production Trends (20102024) Metric 2010 2024 % Change Total Onshore L48 Production 3.4 million b/d ( 45% from 2020) Non-Permian Tight Oil (2024): 4.1 from 2020) Permian Plays Driving Production Permian Play 2024 Production Notes Wolfcamp 3.4 million b/d ( 45% from 2020) Non-Permian Tight Oil (2024): 4.1
billion cubic feet per day (Bcf/d) in 2024 to 7.0 Bcf/d, while oil output from the formation has increased by 26,000 barrels per day ( bbl /d). In 2024, the company produced about 475 MMcf /d in the countyan impressive 74% of which came from Austin Chalk wells. Bcf/d in 2024 to over 26.8 Bcf/d by 2026.
The results show a moderate but consistent pace of development, with several high-activity months in mid-2024. This is well below the monthly highs seen in 2024. wells These figures represent a downward trend compared to the same period in 2024 , where SM Energy drilled 4, 15, and 16 wells in June, July, and August respectively.
Financial Summary The combined company’s production forecast at closing is 370,000 boe/d (63% liquids) and based on commodity prices of US$70 /bbl WTI and C$2.00 /GJ AECO, the forecast annualized funds flow is $3.8 After annual capital investments of $2.6 billion 4 , free funds flow is forecast at $1.2 billion 1.
billion cubic feet per day (Bcf/d) in 2024 to 7.0 Bcf/d, while oil output from the formation has increased by 26,000 barrels per day ( bbl /d). In 2024, the company produced about 475 MMcf /d in the countyan impressive 74% of which came from Austin Chalk wells. Bcf/d in 2024 to over 26.8 Bcf/d by 2026.
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%.
share) at US$70/bbl WTI Free Funds Flow: $550 million Net Debt: Maintained under $1 billion with a 0.3x share) at US$70/bbl WTI Free Funds Flow: $550 million Net Debt: Maintained under $1 billion with a 0.3x billion Funds Flow: $1.65 billion ($2.81/share) Debt/EBITDA ratio Dividends & Share Buybacks: Base dividend of $0.73/share
billion in Q1 2024. The term advantaged is used repeatedly in the earnings release not as corporate jargon, but as a meaningful lens into ExxonMobils capital allocation and earnings engine. Upstream Results: Permian Power ExxonMobils U.S. upstream earnings jumped to $1.87 billion in Q1 2025 , a sharp increase from $1.05
Over the past two years, 2023 and 2024, production levels have soared, investment strategies have shifted, and new regulatory frameworks have emerged. 2024 Production: 6.3 2024 Production: 6.3 MMBbl/d production increase in 2024. However, in late 2024, the Matterhorn Express pipeline came online, adding 2.5
Q1 production averaged 756 boepd, net to Zephyr, versus an average production in the fourth quarter of 2024 (“Q4”) of 829 boepd, net to Zephyr. The Company hedged a total of 18,000 barrels of oil (“bbls”) in Q1. These were hedged at a weighted average price of priceUS$68.68per barrel of oil (“bbl”).
mb/d in 2024, in large part due to a reduction in U.S. total liquids growth, which fell from 1.605 mb/d in 2023 to 734 kb/d in 2024. Previously, we reported that commodity analysts at Standard Chartered were bullish on oil prices in the current year, thanks to strong oil fundamentals, including declining U.S. mb/d in 2023 to 0.79
Gulf Keystone Petroleum (GKP) today announced its results for the full year ended 31 December 2024. Jon Harris (pictured), Gulf Keystone's Chief Executive Officer, said: "2024 was a year of strong operational and financial delivery for Gulf Keystone. bbl, with prices stabilising in a range of c.$27-$28/bbl bbl (2023: $40.9/bbl)
In the Trade Truce scenario, oil demand reaches 108mn bpd by 2030, with Brent averaging US$74/bbl, whereas the Trade War scenario sees demand falling in 2026 and Brent plunging to US$50/bbl. mmbtu in 2024 to US$7.2/mmbtu In the Trade Truce scenario, LNG prices fall from US$11.2/mmbtu
The organization is now downgrading its Brent price forecast to $70/bbl for 2025 and $65/bbl for 2026 because of OPECs decision to unwind cuts and economic headwinds caused by the implementation of President Trumps tariffs and subsequent retaliatory measures. CALGARY, Alberta (Mar. There are no more delays or speculation.
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