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With this step, we significantly enhance our scale and gain strategic multi-basin positioning, all while maintaining a resilient balance sheet. The return of a public Company to the basin underscores the deep value and long-term potential of the asset.
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. percent stake during the exploration and appraisal phases. square miles) onshore Algeria. State-owned QatarEnergy also owns 24.5
. (“Talos” or the “Company”) (NYSE: TALO) today announced its enhanced corporate strategy designed to position the Company as a leading pure-play offshore exploration and production company. Grow production and profitability. Build a long-lived, scaled portfolio.
plans to lay off nearly 800 employees in the Permian basin, its biggest oil-production operation globally. Chevron is undergoing one of the biggest restructurings in its modern history and announced plans to reduce its global workforce by as much as 20%, or 9,000 people, by the end of 2026. (World Oil) –Chevron Corp.
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
(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. Exxons net production jumped by 20% to 4.6 supermajor generated $13.0 billion for the same period of 2024.
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%
(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. Chevron is a leading leaseholder in the Gulf and continues to actively pursue opportunities for growth in the basin.
The name Adura is “rooted in their [the companies] respective heritage and focused on shaping the future of the basin in the years ahead”, Equinor explained. percent operating stake in Nelson, which started production 1994; a 50 percent operating stake in Penguins, which started production 2003; a 92.52
“It offers significant long-term potential, with access to over 7 trillion cubic feet of natural gas resources and future opportunities for production capacity expansion”, Malaysia’s state-owned Petronas said then. In the chemicals sector, the five-year plan aims to build a top-three player.
The acquired portfolio consists of 16 producing fields in Norway, quadrupling DNO’s North Sea production to 80,000 barrels of oil equivalent per day (boepd), the company said in a news release. DNO noted that it has four development wells and one exploration well planned in the period through 2026.
(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.
Diamondback set a record in the Permian Basin with its acquisition of Double Eagle IV. It is also the basin that keeps giving with operators consistently adding locations by testing new zones of the prolific basins stacked pay, said Dittmar. However, these deals have still nearly all been acquired by Canada-based companies.
recently said its ProPwr division secured its first contract to commit 80 megawatts of power generation for an exploration and production operator in Permian Basin. ProPetro said May 20 that asset deployment is scheduled to begin in 2025 third quarter and continue through 2026. Midland-based ProPetro Holding Corp.
mboe/d); Q1 2025 average Permian production of 14.5 existing net DUCs and permits with an average lateral length of ~9,500 feet PRO FORMA HIGHLIGHTS Approximately 85,700 net royalty acres in the Permian Basin; ~43% operated by Diamondback Pro forma Viper owns an average 1.8% mboe/d); Q1 2025 average Permian production of 14.5
” 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. times by year end 2026. million acres in Alberta.
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? How will new policies impact production and investment strategies?
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. This reduces our development costs and is expected to drive higher returns for shareholders.
With improving natural gas prices and a reinforced drilling program, the company is clearly positioning itself as a cost-efficient, technologically adept player in one of North America’s premier gas basins. Production Holds Steady Natural gas production: 115 Bcf Oil production: 10 Mbbls Total production volume: 115.1
Record-breaking production and soft near-term demand continue to pressure prices, although strong LNG export demand offers longer-term support. natural gas production remained flat in 2024 Summary : In 2024, U.S. marketed natural gas production remained nearly flat at 113 Bcf/d, with Permian output rising 12% to 25.4
Diamondback set a record in the Permian Basin with its acquisition of Double Eagle IV. It is also the basin that keeps giving with operators consistently adding locations by testing new zones of the prolific basins stacked pay, said Dittmar. However, these deals have still nearly all been acquired by Canada-based companies.
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. Production and Operations Performance Oil and gas output was resilient, underpinned by high asset reliability.
poised to expand LNG export capacity , interest in gassy basins has surged. Energy Information Administration (EIA), gas production in the Eagle Ford region is expected to rise from 6.8 Bcf/d by 2026. Energy Information Administration (EIA), gas production in the Eagle Ford region is expected to rise from 6.8
So, the longer the laterals connected to each vertical hole, the more of the formation is exposed to production. Raoul LeBlanc That formula has also led producers to push the boundaries of technology in several facets of production. Obviously, drillers must be able to drill further and further out, which in itself is a huge challenge.
The Permian Basin may soon become ground zero for the convergence of hydrocarbons and high-performance computing. By 2028, Exxon expects to have its first data center site operational, and fully decarbonized by 2029a sign of how energy production and digital infrastructure are becoming tightly linked.
poised to expand LNG export capacity , interest in gassy basins has surged. Energy Information Administration (EIA), gas production in the Eagle Ford region is expected to rise from 6.8 Bcf/d by 2026. Energy Information Administration (EIA), gas production in the Eagle Ford region is expected to rise from 6.8
Including GVA from the manufacture of chemicals and chemical products, the manufacture of basic metals, and the estimated GVA in the cement and lime industry within the other nonmetallic mineral products sector in 2022 for Portugal and Spain. For example, the cement industry relies on the calcination process for cement production.
oil production despite President Donald Trumps drill, baby, drill slogan. 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. production overall would peak between 2027 and 2030.
natural gas producers and investment firms are gearing up for more activity in Louisianas Haynesville shale basin, positioning themselves for a boom in liquefied natural gas exports boosted by new approvals from President Donald Trump. gas demand is expected to hit record highs in 2025 and 2026. shale business between 2026 and 2029.
sees domestic crude production declining next year for the first time since 2021 in a blow to U.S. million bpd in 2026 from about 13.42 million bpd in 2026 from about 13.42 The production forecast for next year represents a drop of 120,000 bpd from the agency’s previous projections in May. (World Oil) – The U.S.
Energy Information Administration expects crude oil production to rise to a new record average of 13.61 million bpd in 2026. Trump wants increased production because he wants lower energy prices and that stands in direct opposition to expanding investments in oil and gas. But there is an obvious problem here. The CEO of U.S.
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