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based on gross operated production, well count and rig movements across last year. This year’s Top 100 list reflects a private operator landscape that’s been shaped by the drastic consolidation of operators over the last two years. Learn more at Enverus.com.
(Investing) – Venezuelan state-run PDVSA’s oil sales abroad in 2024 stood at $17.52 licenses allowing foreign partners to operate in the sanctioned OPEC member. PDVSA’s crude oil and fuel exports averaged 805,500 barrels per day (bpd) last year, according to preliminary data from its 2024 financial and operational results.
In June 2025, the company lifted its first crude cargo from the newly-constructed facility—the first indigenous onshore terminal constructed in the country in five decades—signaling the start of operations at the terminal. For Nigeria’s marginal fields, the terminal opens new doors for greater operational efficiency.
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. In Q4 2024 , Mach’s production averaged 86.7
Equinor reported on Wednesday an adjusted operating income, its closest metric of core earnings, of $6.53 billion for the second quarter, down by 13% compared to the same period of 2024. Still, the figure is perfectly in line with expectations in an Equinor-provided consensus estimate of 21 analysts.
Danskammer Energy, which had operated a gas-fired peaker power plant along the Hudson River in Newburgh, NY, worked on a project to upgrade the plant since 2018.
At the time, they classified the Canadian operations as among their more expensive, and therefore less profitable, projects worldwide. Suncor operates a 900-tonne truck at its Fort Hills operation north of Fort McMurray, Alberta, which the company says is the world’s largest hydraulic mining shovel.
LNG’s role in industry and power generation has grown, and trade already picked up this year amid substantial supply additions, which were around 60% higher than in 2024. LNG Canada recently started exports, and most of the additional global flows are being absorbed in Europe which is rushing to fill its storage sites for next winter.
23 GW of solar, wind and storage capacity brought online by Enverus customers in 2024— more than double the previous year. power capacity added in 2024 came from Enverus clients. 266 renewable projects reached commercial operation in 2024 via Enverus customers. 44% of all U.S. 28% of all U.S.
With inventories hovering near operational minimums and Gulf Coast terminals like Corpus Christi and Houston now dominating export flows, Midland WTI, is stepping into the spotlight frequently even setting Brent pricing. Anthony Macaluso, General Index Cushing is no longer the pricing anchor it once was.
After several years of strong growth, early indicators point to a more cautious stance from operators heading into the second half of the year. decline compared to the same period in 2024, which recorded 4,551 permits. Period New Well Permits Jan–June 2024 4,551 Jan–June 2025 3,828 (incl. That’s a 15.9% forecast) Change –15.9%
In twelve months, the industry moved from cautious AI experimentation to operational necessity. What happened between 2024 and 2025 wasn’t gradual adoption—it was transformation. AI is No Longer Optional, It’s Operational The numbers tell a clear story: this isn’t experimentation anymore. Our survey of over 150 U.S.-based
These insights will help operators enhance safety measures and regulators strengthen frameworks as CCS deployment accelerates, and will directly inform DNV’s CCS Safety Guidelines. A key focus is understanding CO₂ behaviour during pipeline incidents, including dispersion patterns under different terrain and weather conditions.
1 â AI power: Expanding data center capacity to meet growing demand ,â McKinsey, October, 29, 2024. 4 âElectricity explained: Electricity generation, capacity, and sales in the United States,â US Energy and Information Administration, July 16, 2024. Improved well productivity. Supply chain.
billion , marking a major strategic move beyond its traditionally Oklahoma-focused operations. October 2024: Closed two deals totaling $136 million, expanding its Anadarko Basin and Ardmore Basin holdings. Mach Natural Resources has signed two definitive agreements totaling $1.3
(EIA) – In 2024, the United States consumed about 94 quadrillion British thermal units (quads) of energy, a 1% increase from 2023, according to our Monthly Energy Review. energy consumption in 2024. Fossil fuels—petroleum, natural gas, and coal—accounted for 82% of total U.S.
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. The solutions exist.
In a letter sent to President Claudia Sheinbaum and released on Monday afternoon, the association warned that many of these companies may have to stop operations as early as July. The letter did not specify the amounts owned to the group’s members, which include Baker Hughes, Halliburton, Weatherford, SLB Oil & Gas and Grupo Mexico.
oil producer had originally targeted a mid-2024 close for the deal. Exxon, which operates the Guyana project and holds a 45% stake along with Hess and CNOOC , challenged the merger through arbitration, citing a right of first refusal on Hess’s Guyana assets. “The oilfield, the Permian basin.
Azule Energy, the operator of Block 1/14, has announced a gas discovery at the Gajajeira-01 exploration well, located in the Lower Congo Basin in Angola’s waters. million bpd, and this was a key reason why Angola quit OPEC as of January 2024, following a spat with the OPEC and OPEC+ members about production quotas.
Upstream merger and acquisition (M&A) activity fell sharply in early 2025, although gas deals are proving attractive, according to new research from Rystad Energy Global deal value plunged 39% from the fourth quarter of 2024 to just US$28bn in the first quarter of 2025 – less than half the US$6bn recorded in the same period a year earlier.
billion) investment to develop Fram South, which will unlock new gas for Europe, the operator said. “It is an efficient and reliable system for operating subsea Christmas trees, as well as reducing the risk of environmental impact” Equinor estimates emissions from the project to be 0.5 Var Energi ASA owns 40 percent.
The merged company will operate under the Whitecap Resources name and will be headquartered in Calgary, Alberta. The drop follows a surge in 2024 driven by the Trans Mountain pipeline expansion, which added 600,000 bpd of export capacity and sparked record lease demand. The divestitures are expected to close before June 30, 2025.
According to our analysis, 24 drilling rigs that were active in the Midland region during 2024 have not returned to drill in 2025 — a clear signal that the slowdown is real and gaining momentum. West Texas by the Numbers The Midland Region saw a net reduction of 24 rigs compared to 2024. West Texas, the heart of U.S.
The findings: over 113,000 sheep grazed beneath solar panels on 129,000 acres in 2024—a scale that caught even the experts by surprise. This is a much larger market than previously understood—and it's accelerating quickly,” the report states. As developers look for environmentally friendly O&M solutions, solar grazing fits the bill.
That is the second lowest quarterly deal value since the start of 2024 and placed 1H25 M&A value at $30.5 billion, a 60% drop compared to the first half of 2024. The challenge for larger public operators is that only a few of the emerging regions, like the Utica and Uinta, offer the scale of resource they need.
(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.
Among the 19 specific industry sectors TIPRO uses to define the Texas oil and natural gas industry, Support Activities for Oil and Gas Operations led in the ranking for unique job listings in May with 1,972 postings, followed by Gasoline Stations with Convenience Stores (1,447) and Petroleum Refineries (824).
The year-long delay caused by Exxon’s challenge cost Chevron an estimated $3 billion in lost 2024 profit, $50-$100 million in legal fees, and contributed to a 9% drop in its share price. now leading the world in LNG exports with over 11 Bcf/d in 2024. leading all nations, producing 25% of the total.
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
based on gross operated production, well count and rig movements in 2024. Mewbourne, founded in 1965, coordinates its operations in Permian Basin from offices in Midland and Hobbs, N.M. Tyler-based Mewbourne Oil Co. moved to second in Enverus’ latest list of the most prolific 100 private oil and gas producers in the U.S.
The Federal Clean Electricity Regulations (CER), finalized in December 2024, establish annual emissions limits for fossil fuel power plants, effectively phasing out coal and gas over three decades. It’s engaged in commissioning and long-term operational support, ensuring recurring revenue.
As Permian operators focus on continuous drilling and AI-assisted optimization, ConocoPhillips is bringing similar momentum to Canada’s unconventional plays. While current implementations rely on manually programmed coordinates , future upgrades aim to use image-based spatial recognition — enabling rigs to “see” and respond autonomously.
The WDDM concession is located around 90 km offshore Egypt, in the north-western Nile Delta region of the Mediterranean Sea, and is operated by Shell through its joint venture, Burullus Gas Company. The area includes 17 gas fields at water depths ranging from 300 to 1,200 m.
As the report notes, supply chains are mobile, and companies are increasingly relocating operations and skilled personnel to regions offering policy stability and better returns, the Middle East being the big winner here. Harmonisation across the GCC could reduce duplication and unlock even greater regional synergies.
While oil rig counts continued to slip, steady activity in key basins like the Haynesville and a sharp uptick in states like Kansas signal a potential turning point for upstream operations heading into the second half of 2025. bpd (2024) → 13.4M bpd (2024) → 13.4M bpd (2024) → 13.4M bpd (2024) → 13.4M
Canada added 2 rigs to 114 (gas +2 to 46), but remains 29 below 2024 levels. The deal would give ADNOC Asia-Pacific LNG assets (Santos produced 5Mtpa in 2024, could reach 8Mtpa) but faces FIRB scrutiny over energy security concerns. Read more Contact Valor Today Contact us today if you need help outsourcing your oil and gas operations.
producers and pipeline operators to revisit plans for new infrastructure in Appalachia—the country’s most productive gas region. During the winter of 2024–2025, heating a home with oil cost roughly twice as much as with natural gas. Both faced years-long fights over water permits before being canceled in 2020 and 2024, respectively.
The EIA forecasts Brent crude will average $74 per barrel in 2025, down from $80 in 2024, with average gas prices expected to fall to $3.20 Read more In 2024, the United States produced more energy than ever before Summary : In 2024, U.S. per gallon as global oil demand growth slows. Read more U.S.
” Entropy Operational Update Entropy continues its successful operations and scale-up of carbon capture and sequestration operations at the Glacier gas plant. Entropy anticipates Glacier Phase 2 will reach commercial operations by Q2 2026. GJ/Tonne CO 2 captured. About Entropy Inc.
As the report notes, supply chains are mobile, and companies are increasingly relocating operations and skilled personnel to regions offering policy stability and better returns, the Middle East being the big winner here. Harmonisation across the GCC could reduce duplication and unlock even greater regional synergies.
Excited to share a major milestone from one of the Permian Basin’s top operators— ConocoPhillips has brought its Zia Hills Central Facility 2 (CF2) online in the Delaware Basin.
In fact, the multi-billion-dollar dispute hinged on the interpretation of a single sentence in the joint operating agreement. That’s the equivalent to 8 years of production, down from 10 years in 2023, and compared with Exxon’s 12 years in 2024. rival, the latest move in a decades-long rivalry that has helped shape the U.S.
During the meeting, Badawi reviewed the main pillars of the ministry’s current operations and activities. The minister reviewed the main results achieved from July 2024 to June 2025, including an increase in added local oil and gas production.
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