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(Oil Price) – As if WTI oil prices in the low $60s per barrel aren’t enough to slow production growth at America’s top producing shale basin, the Permian, new guidelines for permitting saltwater disposal wells could raise the costs for operators, especially smaller producers with limited resources.
Boosting production Major oil producers in Africa are striving to boost production and NOC-IOC collaboration is at the forefront. Algerias Sonatrach will increase hydrocarbon production by 2.5% Algerias Sonatrach will increase hydrocarbon production by 2.5%
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. from 2018-2024. At Liberty, he focuses on technology innovation, service quality, efficiency, and optimization.
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
supermajor Chevron has expressed interest in oil and gas exploration in two additional offshore blocks south of the Greek island of Crete, Greeces Ministry of Energy and Environment said on Wednesday. The two new blocks now essentially double the total area for exploration to 47,000 sq km (18,147 square miles). (Oil Price) –U.S.
Energy Development Corporation (USEDC), a Fort Worth-based exploration and production company focused on developing oil and gas projects for itself and its partners, has acquired ~20,000 net acres in Reeves and Ward Counties, Texas. from $165 million to $300 million Fort Worth, TX U.S. oil and gas properties.
During the exploration drilling carried out in December 2024, oil was found at a depth of 1,250 meters. The fact that we achieved this success in the concession belonging to Bzakerettye, which has an almost 100-year oil industry tradition, is clear evidence that there is still potential in hydrocarbon exploration in Hungary.
They provide reserves reports and audits, acquisition and divestiture evaluations, simulation studies, exploration resources assessments, equity determinations, and management and advisory services. London, Mexico City, and Shanghai.
million for the Company after publication of the Company’s audited results for the year ended 31 December 2024 by 30 June 2025, subject to the passing of the Resolutions. In addition, certain Directors, management and their affiliates intend to subscribe for 23,333,333 new Ordinary Shares at the Issue Price to raise a further £0.7
(Oil & Gas 360) –HOUSTON(BUSINESS WIRE) Chevron Corporation ( NYSE: CVX ) announced today that it started oil and natural gas production from the Ballymore subsea tieback in the deepwater Gulf of America. Co-owner TotalEnergies E&P USA, Inc. The development is Chevrons first in the Norphlet trend of the Gulf.
During the production test, the well was tested at multiple flow rates in order to gather data to determine the flow capacity of the well, to provide an early estimate of potential resource volumes, and to obtain high quality fluid samples. the “Paradox project”). Water cut was less than 0.5%
(the Company or ReconAfrica) (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) (NSX: REC) announces an agreement for a joint exploration project in Angola with the Agncia Nacional de Petrleo, Gs e Biocombustveis or National Oil, Gas and Biofuels Agency (ANPG). This will be the Companys largest exploration prospect drilled so far.
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.
The presenting company lineup as of June 18, 2025, includes: Advantage Energy (TSX: AAV) Amplify Energy (NYSE: AMPY) Anschutz Exploration Armstrong Oil & Gas APA Corp. Sponsorship opportunities are available by contacting Blanca Andrus at bandrus@enercominc.com. London, Mexico City, and Shanghai.
The triple-frac reduces by 25% the time to bring wells to production. supermajor continues to boost its oil and gas production from the basin, but it has cut capital expenditures. At the end of 2024, Chevronsaidit planned to spend between $4.5 At the end of 2024, Chevronsaidit planned to spend between $4.5
ConocoPhillips, one of the world’s largest independent E&P companies, is undergoing a significant transformation in 2025. 394 MBOED of production on a proforma Q4 2024 basis. This strategy supports financial resilience while keeping production stable through operational efficiencies.
(Oil Price) –First-quarter earnings at ExxonMobil ( NYSE: XOM ) topped analyst estimates as higher production in the Permian and offshore Guyana offset part of the lower realizations due to falling oil prices. billion in the first quarter of 2024. billion for the same period of 2024. billion, down from $8.2
While 2024’s first quarter showed steady oil and gas activity, political and regulatory hurdles – most notably the administration’s recent pause on U.S. liquified natural gas (LNG) exports exports – have created widespread worry amongst exploration and production (E&P) firms.
For example, NEHs current daily production of approximately 4,000 Mcfpd, combined with a 25% loss, results in approximately 30,000 Mcf of monthly vented methane (Ch4) equivalent to the CO emissions produced by approximately 37,905 passenger vehicles per year. Register to attend. Oil & Gas 360) –MIDLAND, TexasApril 29, 2025.
Mboe per day of two-stream net production during the third quarter of 2024. Transaction details Pursuant to the arrangement agreement between Vitesse and Lucero, dated December 15, 2024, at the closing of the arrangement each common share of Lucero has the right to receive 0.01239 of a share of Vitesse common stock.
As of December 31, 2024, it had 247 wells on production. During the fourth quarter of 2024, LACh produced 79,543 barrels of oil equivalent per day (boed) at 100% working interest, of which 71,471 barrels per day (bpd) were oil, according to the Argentine Secretary of Energy. The remaining 50% of LACh is held by operator YPF S.A.
We are excited to execute on this unique opportunity that is immediately accretive to our per-share metrics and meets our strict criteria for acquisitions high quality acreage with exploration upside, competitive with our current inventory, gained at an attractive price, continued Yacob. About EOG Resources EOG Resources, Inc.
The assets are located in Reeves County, Texas and had projected full-year 2025 production of approximately 3 Mboe/d (~35% oil). The transaction has an effective date of December 31, 2024, and Crescent plans to update its 2025 outlook to reflect the divestiture alongside its first quarter 2025 financial and operating results.
Prospect I is located onshore Namibia in Petroleum Exploration Licence 073 (“PEL73”) and is the Company’s largest prospect to be drilled so far. The results of the Naingopo exploration well announced in January 2025 increased our confidence in the potential for Prospect I. Actual future results may differ materially.
. “By leveraging cutting-edge intellectual property, these asset integrity management solutions provide industry-leading gas quality assurance capabilities to customers while providing a platform for future growth as we partner with Flotek to explore applications of this technology across other industry verticals. ProFrac Holding Corp.
Chris Cornelius announces the following changes, effective March 10th, 2025: Dr. Paul Clarke will be promoted internally to the role of Chief Executive Officer and President from his current role of Vice President of Exploration. From 2015 to 2024, Mr. Pierce was CEO and Director of TAG Oil Ltd.,
Occidental Petroleum (OXY): Balancing Traditional Energy with Low-Carbon Innovation Industry: Oil & Gas Exploration & Production (E&P) Market Cap: $39.62 million.
The newly acquired assets are actively being developed by leading operators, including Chevron and Civitas, who collectively account for more than half the wells spud in 2024. The high-quality operator footprint enhances production visibility and long-term value creation.
billion for the first quarter of 2024. BPs management touted the early results of the strategy reset and the three project start-ups this year, out of 10 major projects expected to begin oil and gas production by 2027. Thats lower than a company-provided analyst consensus estimate of $1.53
1] In order for private and mid-sized operators to stay competitive in todays market, operators should explore opportunities in less consolidated basins, consider joint ventures or position themselves as attractive acquisition targets. References: You must be a subscriber to Enverus Intelligence | Research (EIR) products to view sources 2-8.
Compared to March 2024, last months activity was 20.3% in March 2024. This activity equaled Januarys drilling, when 1,072 wells were recorded, including 814 oil wells, 242 gas wells and 16 dry holes. The distribution of wells in these categories was roughly the same in March, as it was in January. in February, 72.4%
.” Strategic Rationale Solidified Position Within the Large-Cap Universe: The combined company will have an enterprise value of $15 billion 1 and 370,000 boe/d 2 (63% liquids) of corporate production with significant overlap across both unconventional and conventional assets. million acres in Alberta.
The presenting company lineup as of May 21, 2025, includes: Advantage Energy (TSX: AAVVF) Amplify Energy (NYSE: AMPY) Anschutz Exploration Armstrong Oil & Gas APA Corp. The firms nearly 700 lawyers practice across 19 global offices located in California, Colorado, Illinois, New York, North Carolina, Texas, Virginia, Washington, D.C.,
Image by Leonid Andronov via iStock Malaysia’s national oil and gas company has expanded its footprint in Suriname with the signing of a production sharing contract (PSC) for a deepwater block next to several discoveries. Petroliam Nasional Bhd.’s square miles). Paradise Oil Co. Exxon Mobil Corp.
In addition, the Company also provides initial results related to hydrocarbon production in the first quarter of 2025 (“Q1”)from its non-operated asset portfolio in theWilliston Basin,North DakotaandMontana,U.S.(the The resulting properties were then used to build a numerical model to generate production forecasts.
mboe/d); Q1 2025 average Permian production of 14.5 mboe/d); Q1 2025 average Permian production of 14.5 mboe/d); Q1 2025 average Permian production of 14.5 mboe/d); Q1 2025 average Permian production of 14.5 per share annually ($0.33 per share quarterly). billion which equates to less than 1.0x mboe/d) Approximately 16.1
portfolio of operated companies and interests consists of oil, natural gas, petrochemicals, lubricants and refined fuel products along with low-carbon offerings. Notes to editors The U.S. Shells U.S. Cautionary Note The companies in which Shell plc directly and indirectly owns investments are separate legal entities.
At the end of 2024, EQs Rice said he was bullish on the short and long-term gas demand prospects as power utilities scramble to provide electricity to the new data centers. The assets which EQT is buying are positioned adjacent to several proposed power generation projects, providing potential strategic value upside, the company said.
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.
“The failure to make public critical components of Red Trees bid is a clear violation of the courts December 31, 2024 order,” lawyers of Gold Reserve said in a filing last week. A decision on how to proceed with the bonds default requires holders representing no less than 75% of the debt. Red Trees bid includes $3.24
Actually, it was in late 2024 that the wireline sector witnessed a big move, when Axis Energy Services merged with Brigade Energy Services to create what the combined company—Dallas-based Axis Energy Services LLC —described as the largest well servicing company in America. Pintail’s 2024 revenues topped more than $400 million.
Chevron Corporation, one of the worlds leading integrated energy companies, has announced the start of oil and natural gas production from the Ballymore subsea tieback project, located in the deepwater Gulf of America. holding a 60% working interest, with TotalEnergies E&P USA, Inc. owning the remaining 40%.
Energy Information Administration (EIA), gas production in the Eagle Ford region is expected to rise from 6.8 billion cubic feet per day (Bcf/d) in 2024 to 7.0 In 2024, the company produced about 475 MMcf /d in the countyan impressive 74% of which came from Austin Chalk wells. According to the U.S. Bcf/d by 2026.
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