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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.
Calgary, Alberta (April 23, 2025) Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, is releasing its summary of 1Q2025 upstream M&A activity and outlook for the rest of the year.
Bureau of Labor Statistics (BLS), the Texas Independent Producers and Royalty Owners Association (TIPRO) has highlighted new employment figures showing an increase in upstream employment in Texas in the month of May. Almost all of the production growth has come from the Permian Basin region. oil production is forecasted to average 13.4
Upstream earnings increased by $1.1 billion of share repurchases, consistent with its annual $20 billion share-repurchase program through 2026. billion from a year earlier to $6.8 billion, thanks to continued growth in the Permian and Guyana, as well as structural cost savings. Exxons net production jumped by 20% to 4.6
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. Ahara marks QatarEnergy’s entry into Algeria’s upstream sector, QatarEnergy said separately. TotalEnergies owns 26.4
(World Oil) – Africas national oil companies (NOC) are moving beyond operating as state-representatives by transforming themselves into competitive upstream players. mtpa Coral South FLNG project has been operating since 2022 while ExxonMobil plans to make FID on Rovuma LNG in 2026.
upstream growth, driven by advantaged assets like the Permian Basin, is central to the companys long-term performance. Upstream Results: Permian Power ExxonMobils U.S. upstream earnings jumped to $1.87 Upstream Results: Permian Power ExxonMobils U.S. upstream earnings jumped to $1.87 billion in Q1 2024.
Vaquero Midstream is ramping up its capabilities in the Southern Delaware Basin with two major infrastructure projects: a new 70-mile, 24-inch high-pressure pipeline loop and a 200 MMcf/d cryogenic processing plant near the Waha Hub.
Enverus Intelligence Research (EIR), a subsidiary of Enverus, an energy-dedicated SaaS company, released on April 23 its summary of 1Q2025 upstream M&A activity and outlook for the rest of the year. On top of that, upstream companies will now have to navigate significant headwinds from falling oil and equity values.
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. “Adura is expected to produce over 140,000 barrels of oil equivalent per day in 2025”, Equinor said. Shell will contribute its 27.97
Production and Capital Investment Looking ahead, Cenovus forecasts an upstream production range of 805,000 to 845,000 barrels of oil equivalent per day (BOE/d) for 2025, representing a 4% increase compared to 2024 Cenovus Energy. which have been instrumental in executing Cenovus’s drilling programs. billion to $5.0 billion in 2025.
Now, as we step into 2025 , the industry faces critical questions : Which basins will see the most growth? oil & gas basins , the leading companies , and market trends using the latest data and forecasts. The Permian Basin remains the top destination for U.S. MMBbl/d, maintaining stable levels through 2026.
Ballymore is an example of how we are leveraging technology and driving efficiencies to help produce affordable, reliable energy from the deepwater Gulf of America, one of the lowest carbon intensity oil and gas producing basins in the world, said Brent Gros, Vice President of Chevron Gulf of America. owning the remaining 40%.
BP achieved upstream plant reliability of 95.4%, one of its best on record, and refining availability at 96.2%. Hess Q1 2025 Performance Hess Corporation delivered a solid operational quarter in Q1 2025, marked by steady oil and gas production, continued development progress in Guyana, and significant investments in key upstream assets.
This new system, known as the EU ETS2, will focus on upstream emissions, targeting fuel suppliers instead of end consumers. The primary storage regions are in the Lusitanian Basin, encompassing the Aveiro and Coimbra clusters, which together emit approximately 7 Mtpa CO 2. Mtpa of CO 2 storage.
While some midstream operators have announced new projects in recent months, others are waiting to see how the market volatility and demand uncertainty will affect upstream companies in the major U.S. shale basins. billion in total is expected to be in service by the end of 2026. By Tsvetana Paraskova for Oilprice.com
Read more Drilling permits drop as prices fall, signaling industry pullback Summary : Texas drilling permits fell to 570 in April (lowest since 2021), with Midland Basin permits dropping 56% to 133 as WTI prices fell 17% YTD. Permian Basin rigs declined 1 to 278, also a November 2021 low, as the total count fell 37 (6%) year-over-year.
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