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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.
Libyas NOC is working with IOCs Repsol, bp, TotalEnergies, ConocoPhillips and more to increase output to two million barrels per day (bpd). The partners completed the offshore platform for Angolas first non-associated gas project in February 2025, with production on track for early-2026.
are also among the 37 companies that have lodged interest, with contracts due to be signed with successful bidders by the end of 2025, National Oil Corp Chairman Massoud Seliman said in an interview in the capital, Tripoli. Authorities target daily oil output of 2 million barrels before 2030 — surpassing the 1.75 million bpd.
Publisher’s Note: Anschutz Exploration will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown , August 17-20, 2025. Anschutz produces around 60,000 barrels of oil equivalent per day and adds about 65 new wells a year, Hart Energy reports. ” When asked about the future of U.S.
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.
by Andreas Exarheas | Rigzone Staff | Monday, June 30, 2025 | 6:54 AM EST Wood Mackenzie reveals who was crowned the 'most admired upstream explorer' in the company's latest Annual Exploration Summit Survey. “The company has set a new benchmark in opening up a deepwater frontier at pace. 700K Industry Pros can’t be wrong.
“The transaction will immediately position the new joint venture as a market leader in the UKCS [UK continental shelf], with a projected 2025 production of approximately 130,000 barrels of oil equivalent per day”, a joint statement said. announced a deal to consolidate their UK North Sea assets.
The company is about to complete a transformative “Drop Down” transaction with parent company Diamondback Energy (FANG) that promises to significantly reshape Viper’s production profile in 2025. It was finally signed in January 2025 and will complete in Q2 2025. by year-end 2025, assuming stable prices.
million barrels per day in the second quarter of 2025. Additionally, TIPRO points to recent data from the U.S. Energy Information Administration (EIA) showing domestic crude oil production reached an all-time high of 13.5 Oil production has jumped this year after hitting a record 13.2
Based on the well tests carried out prior to March 2025, the well is currently proven to be capable of producing 1,200 bpd, which is transported by truck to the Danube Refinery in Szzhalombatta. MOL has ambitious E&P investment plans. thousand barrels of oil equivalent per day (boed).
This discovery in the deepwater Gulf of America/Gulf of Mexico underscores how bp is in action to step up investment in exploration and strengthen its upstream portfolio under the strategy reset announced in February 2025. million barrels of oil equivalent in 2030, with the capacity to increase production out to 2035.
billion and $5 billion on production in the Permian in 2025, lower than in 2024, as production growth is reduced in favor of free cash flow. That level is already about $10 a barrel below the average $65 per barrel price U.S. At the end of 2024, Chevronsaidit planned to spend between $4.5 According to the top U.S.
World oil demand rose by 990,000 barrels per day (bpd) in the first quarter of 2025. Concerns about economic growth and record sales of EVs are set to dent global oil demand growth for the rest of the year, and full-2025 will see demand growth average 740,000 bpd, the IEA reckons. tariff offensive in early April.
(Oil & Gas 360) – Publishers Note: Zephyr Energy plc will be presenting at the EnerCom Denver The Energy Investment Conference held at the Westin Denver Downtown on August 17-20, 2025. Initial production test observations include: A peak rate of 2,848 barrels of oil equivalent per day (“boepd”) (11.9
(Oil & Gas 360) Publisher’s Note: Zephyr Energy plc will be presenting at the EnerCom Denver – The Energy Investment Conference held at the Westin Denver Downtown on August 17-20, 2025. million barrels of oil equivalent (“mmboe”), 2C resources of 34 mmboe and 2U resources 270 mmboe. Register to attend.
The filing listed the layoff date as July 15, 2025. Chevrons Permian production has grown rapidly in recent years, and is on course to reach 1 million barrels of oil equivalent a day (boed) in the coming months, which would make up nearly a third of the companys global output.
(Oil & Gas 360) Opal Coalbank consists of nine DUC wells on track for production this summer Previously announced drilling of Rusch Pad ahead of schedule Recently announced strategic hedging program in the money by ~$70 million HOUSTON, TX, April 28, 2025 (GLOBE NEWSWIRE) — Prairie Operating Co. per barrel WTI and $4.28
(Oil & Gas 360) – Publisher’s Note: EOG Resources will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown , August 17-20, 2025. HOUSTON, May 30, 2025 /PRNewswire/ EOG Resources, Inc. ( The dividend will be payable October 31, 2025, to stockholders of record as of October 17, 2025.
(Oil & Gas 360) – Publisher’s Note: Zephyr Energy will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown , August 17-20, 2025. BCF/1000 feet (‘) of perforated interval) and between 160,000 and 240,000 barrels of condensate, equivalent to a total range of 0.827 to 1.24
(Oil & Gas 360) – Publisher’s Note: CanCambria Energy will be presenting at EneCom Denver – The Energy Investment Conference on August 17-20, 2025. million barrels (MMBBL) condensate/natural gas liquids (NGL) net to the company (un-risked). Register and reserve your room. CanCambria Energy Corp.
(Oil & Gas 360) –MIDLAND, Texas, June 03, 2025 (GLOBE NEWSWIRE) — Viper Energy, Inc. billion as of March 31, 2025. billion as of March 31, 2025. per share based on the closing price of Viper common stock on June 2, 2025. per share based on the closing price of Viper common stock on June 2, 2025.
(Oil & Gas 360) – Publisher’s Note: Zephyr Energy will be presenting at EneCom Denver – The Energy Investment Conference at the Westin Downtown on August 17-20, 2025. million barrels of oil equivalent (“mmboe”), 2C resources of 34 mmboe and 2U resources 270 mmboe. Register to attend.
The worlds largest energy companies have just released their Q1 2025 results, offering a detailed look at how the sector is holding up amid fluctuating commodity prices, ongoing supply chain pressures, and the growing influence of gas and LNG markets. TWh , the same as Q1 2024. TWh , the same as Q1 2024. TWh , the same as Q1 2024.
(Oil & Gas 360) CALGARY, AB , April 10, 2025 /CNW/ – Reconnaissance Energy Africa Ltd. It is targeting 365 million barrels ofunrisked and 32 million barrels of risked prospective light/medium oil resources (1) , or 1.9
This permit, effective until July 31, 2025, authorizes the company to operate 65.54 In that month, it produced 11,802 barrels of oil and 139,548 MCF of gas. It produced 16,238 barrels of oil and 579,133 MCF of gas during that month. It produced 16,238 barrels of oil and 579,133 MCF of gas during that month.
(Oil & Gas 360) Publisher’s Note: Whitecap Resources will be presenting at the 30th Anniversary EnerCom Denver-The Energy Investment Conference at the Westin Denver Downtown on August 17-20, 2025. The transaction is expected to close before May 30, 2025. Detailed 2025 guidance will be provided on close of the transaction.
The supermajor just announced the final investment decision on a Trinidad and Tobago gas project, due to start producing in two years with a peak output of 62,000 barrels of oil equivalent daily. It also got an approval from the Iraqi government to start the development of two oil fields in the north. BP is very much back.
(Oil & Gas 360) –April 17, 2025, Calgary, Alberta, Canada Reconnaissance Energy Africa Ltd. It is targeting 365 million barrels of unrisked and 32 million barrels of risked prospective light/medium oil resources (1) , or 1.9
That means cutting around 2 million barrels per day. The company announced a 10% cut in capital spending and said it wont resume growth until crude climbs back into the $55$65 per barrel range. Weve done an incredible job becoming the worlds largest oil producer, a Texas-based E&P exec said. Whats Next?
Bcf/d, while oil output from the formation has increased by 26,000 barrels per day ( bbl /d). Between 75% and 80% of Magnolias 2025 capital budget will be allocated to Giddings, reflecting its long-term confidence in the project. Since 2020, Austin Chalk gas output has nearly tripled to 1.8 Whos Leading the Charge?
Bcf/d, while oil output from the formation has increased by 26,000 barrels per day ( bbl /d). Between 75% and 80% of Magnolias 2025 capital budget will be allocated to Giddings, reflecting its long-term confidence in the project. Since 2020, Austin Chalk gas output has nearly tripled to 1.8 Whos Leading the Charge?
Supply from countries outside the Declaration of Cooperation – the formal name for OPEC+ – will rise by about 800,000 barrels per day in 2025, OPEC said in a monthly report, down from last months forecast of 900,000 bpd. On May 5 Brent settled close to $60, its lowest settlement since 2021.
Supply from countries outside the Declaration of Cooperation – the formal name for OPEC+ – will rise by about 800,000 barrels per day in 2025, OPEC said in a monthly report, down from last months forecast of 900,000 bpd. On May 5 Brent settled close to $60, its lowest settlement since 2021.
benchmark WTI crude prices at $60 per barrel, its mostly hold, baby, hold in the American shale patch, where output in the major basins except the Permian has already started to level off or drop. oil production despite President Donald Trumps drill, baby, drill slogan. With the U.S. With the low oil prices, Kpler has now cut its U.S.
The Dow Jones Industrial Average dropped nearly 2%, leading to the downside, while both the S & P 500 and Nasdaq fell more than 1%. Brent crude, the international benchmark, surged 7% to above $74 a barrel. oil benchmark West Texas Intermediate crude also popped 7%, trading close to $73 a barrel. All Rights Reserved.
CEO Rich Kruger told analysts on a conference call that Suncor has not changed its 2025 capital budget range of C$6.1 per share, on Tuesday that beat analysts expectations, and achieved its highest-ever first-quarter production of 853,000 barrels per day. billion ($4.43 billion) to C$6.3 billion next year. billion, or C$1.31
billion and $13 billion in repurchases for 2025, Bonner said in an interview. million barrels of oil equivalent per day (boepd), flat from the same period last year. In the second quarter, the company said it expects to repurchase between $2 billion and $3.5 billion in shares. The second-largest U.S. The second-largest U.S.
shale oil producers had a breakeven price point of US$70 per barrel (pb) of for the West Texas Intermediate benchmark. However, the Kingdoms 2025 fiscal breakeven price per barrel of the Brent crude benchmark is a minimum of US$90.9, shale oil producers would go bankrupt. Over the year as a whole, output from the U.S.
crude production, which could easily push crude prices lowerinto this second quarter of 2025, as supply would likely then outpace demand. The longer-term weekly chart, which sets moving averages below both the 100 and the 200 period, is possibly trending back towards the $65-per-barrel area.
On Monday global Brent crude futures settled under $70 a barrel as investors worried a trade war would slow economic growth. Energy Information Administration (EIA) on Monday lifted its 2025 forecast for domestic oil production to 13.61 million barrels per day, up 200,000 bpd from last months forecast. million bpd.
million bpd from 2025, according to the Energy Information Administration’s Short-Term Energy Outlook released Tuesday. million barrels per day in 2026, up roughly 40,000 barrels from last month’s forecast, mitigating the impact of reduced activity in other crude-producing regions. (World Oil) – The U.S.
The $8-billion project is expected to see peak production of 160,000 barrels of oil per day, beginning in 2029, according to 2020 estimates but since then, this has been revised up to a maximum of 180,000 barrels per day (bpd). The pipeline for the Pikka project is expected to be completed by the end of 2025.
Trumps policies on trade and foreign policy have, however, threatened to drive up the cost of millions of barrels of oil that U.S. Crude prices hit a three-year low below $70 a barrel this week after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) agreed to go ahead with a planned April output increase.
million barrels per day (bpd) in 2025 and climb further to 13.76 producer OXY Energy Services warned that oil prices below $60 a barrel would likely force small drillers to reduce activity. oil prices are currently around $68 a barrel. million bpd in 2026. But there is an obvious problem here. The CEO of U.S.
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