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Renewable energy developer, NextEra Energy (NYSE:NEE) is considering doubling its $20B investment in Texas, with the renewable energy company currently exploring land in the Permian Basin for development, Michele Wheeler, VP of regulatory and political affairs, revealed at the CERAWeek energy conference in Houston.
ExxonMobil has reached a major milestone: 1,000 horizontal wells drilled in the New Mexico portion of the Delaware Basin just seven years after the first spud in 2017. Cube Development : Simultaneous multi-zone drilling across Bone Spring and Wolfcamp intervals, optimizing recovery.
Natural gas producers in the Permian Basin should once again brace for lower prices at Waha as production looks to outpace the pipeline capacity needed to transport gas to both domestic and international markets, including liquefied natural gas shipments, said Jason Feit, lead author of a new report from EIR.
CERAWeek 2025 Insights ExxonMobils expansion in the Permian Basin took center stage during CERAWeek 2025 , where executives highlighted how technology is reshaping operations to maximize efficiency and production. million barrels per day (bpd) accounting for over 16% of the basins total production. energy production, contributing 6.26.3
“The partners will evaluate several CO2 storage sites in the Malay Basin, including both saline aquifers and depleted offshore fields”, France’s TotalEnergies said in a press release then. In 2024 Petronas signed an agreement with Abu Dhabi National Oil Co. Petronas is part of the NETR Committee.
A Multi-Pronged Strategy to Sustain Growth Beyond Tight Oils Crown Jewel The transformation of the United States into a global energy powerhouse over the past two decades is inseparable from the fracking-led renaissance of the Permian Basin. Although the pace of growth is clearly slowing, the basin still offers significant upside potential.
Key takeaways from the report: Canada is anticipated to grow oil production by ~600 Mbbl/d by 2030 with oil sands expansion projects making up two-third of this volume. Play Fundamentals is an EIR research series that dives into a key geographical basin or technology.
First gas from Saudi Arabias giant Jafurah Basin unconventional project is expected in Q3. The highly symbolic development will help boost Saudi gas output to record highs and is central to Aramco achieving its ambitious 2030 gas growth target.
The rapid growth of natural gas production in the Permian Basin is pushing existing infrastructure to its limits, and additional pipeline projects are on the horizon to meet rising demand, according to East Daley Analytics. By 2030, AI-related demand alone could require an additional 3.9 Energy Information Administration (EIA).
Lets look at some of the key highlights: Anticipate a rise in oil production within the Western Canada Sedimentary Basin (WCSB). Figure 1: Canadian oil egress projections through 2030. Figure 2: Canadian bitumen, condensate and associated gas growth projections through 2030.
ERCOT authorities expect statewide power demand to nearly double by 2030 driven largely by a proliferation of advanced computing facilities. The post EIP report: Developers plan more than 100 new gas power plants in Texas appeared first on Permian Basin Oil and Gas Magazine. million gasoline-powered cars.
million bpd by 2030, with more volumes flowing through Trans Mountain. Montney Formation: A Core Growth Basin The Montney formation, spanning Alberta and British Columbia, holds an estimated 449 Tcf of gas, 14.5 Now, lower prices and increased global supply are curbing interest in new drilling rights. NuVista Energy Ltd.
natural gas production, particularly in the Haynesville Basin, as domestic gas prices surge. Haynesville Basin: The Right Time to Ramp Up The Haynesville Basin, located in eastern Texas and northwestern Louisiana, has long been a critical natural gas-producing region. million boepd by 2030. million and 2.5
million barrels per day by 2030, Exxon says. The stakes in this case couldnt be higher for Chevron, which is looking to gain a foothold in a very profitable offshore basin that is set to boost oil production exponentially over the coming years. dollars for the projects partners. Production capacity in Guyana is expected to surpass 1.7
production would peak between 2027 and 2030. We expect to hold [DJ Basin] production at a plateau around 400,000 barrels per day through the end of the decade. He adds: Were picking pennies up now The marginal barrel in the U.S. is just not being produced today. Its looking like that peak could come sooner.
A Looming Power Surge Projections suggest that AI data centers may demand up to 100 gigawatts (GW) of new power by 2030. Behind every AI-powered feature lies a sprawling network of data centers, and the demand these centers place on our energy systems is growing at a staggering rate.
But as basins mature and geology becomes more challenging, the key question becomes: Can these gains be sustained, or has the industry already picked the low-hanging fruit? Travis Stice, CEO, Diamondback Technology and process efficiency gains are being outpaced by geology… its a natural evolution of a maturing basin.
upstream growth, driven by advantaged assets like the Permian Basin, is central to the companys long-term performance. As the company leans into this strategy through 2030, these 10 projects are expected to add $3+ billion in annual earnings by 2026 , reinforcing why advantaged isnt just a buzzword its a blueprint. billion in Q1 2024.
Qatar could account for 20% of global supply after 2030, Rystad predicts, with continuing incremental expansion, its low breakeven and existing infrastructure ensuring dominance in the LNG market. ADNOC's LNG capacity is set to expand significantly with the Ruwais LNG project (9.6
million barrels of oil equivalent per day globally by 2030, with approximately 1 million barrels expected from the U.S. The Far South discovery lies just 4 miles north of BPs Constellation field, a testament to the basins dense network of prospects and infrastructure. BP is also targeting 2.32.5
Read more BP to abandon green energy target and ramp up oil Summary : BP will abandon its plan to expand renewable energy generation 20-fold by 2030, scrapping its target of reaching 50 gigawatts (GW) and maintaining its current 8.2 Meanwhile, global supply concerns persist as the U.S. GW capacity.
The proposals got approved as amendments to the 1993 Deep Offshore and Inland Basin Production Sharing Contractin October. on frontier and inland basin projects. billion in oil revenues by 2030 as a result of these changes, the OPTS says. One of these measures targets offshore projects specifically.
The Permian basin was the centerpiece of the shale revolution that began nearly two decades ago and spurred the U.S. Weve never been in a position before where we were on the back-half of the inventory story of a burning basin, Novi Labs head of research Brandon Myers said. We think that between 2027 and 2030 its likely that the U.S.
The Permian Basin is a hotbed of activity, always answering a relentless demand for output, and as experts look ahead, the infrastructure needed to accommodate surging output comes squarely into focus. He says the Permian Basin region has seen a couple of gigawatts of average growth.
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. oil production despite President Donald Trumps drill, baby, drill slogan. With the U.S.
Petrobras is seeking to replenish oil and gas reserves to avoid a production decline that is expected to start around 2030. The company said last week that it discovered excellent quality oil at the Aram block in the deep-water Santos Basin.
In 2015, then-Massachusetts Attorney General Maura Healey released a report asserting that no new natural gas pipelines were needed into the region and that the regions power grid faced no reliability deficiency through at least 2030. All was fine, said the Attorney General.
Volatility at the start of the Trump Administration might present the last chance to buy Delaware Basin oil and gas stocks on the cheap, in my opinion. Asia is accounting for about half of the global growth in gas demand in coming years, as India sees a projected increase of more than 50 percent by 2030. Gas wells are shown in red.
In 2015, then-Massachusetts Attorney General Maura Healey released a report asserting that no new natural gas pipelines were needed into the region and that the regions power grid faced no reliability deficiency through at least 2030. All was fine, said the Attorney General.
Oil rigs fell by four to 479, while gas rigs rose by two to 101; the Permian basin dropped to 287 rigs, its lowest since December 2021. in annual cost savings and 10 new projects planned, Exxon expects $20B more in earnings by 2030. Read more US drillers cut rigs for first time in three weeks, Baker Hughes says Summary : U.S.
natural gas: Permian Basin Pipeline Projects: Two major pipelines totaling 4 bcf/d capacity are being developed to transport gas from the Permian Basin to Mexicos Pacific Coast. mtpa by 2030. Mexicos LNG Expansion Mexico is emerging as a formidable LNG exporter, leveraging its access to cheap U.S.
Read more Russia targets major surge in natural gas exports by 2050 Summary : Russia aims to double its natural gas exports by 2030 and triple them by 2050 under its new energy strategy. The country’s gas exports are expected to increase from 146 bcm in 2023 to 293 bcm by 2030, and up to 438 bcm by 2050.
carbon capture lags as EU surges ahead Summary : The EU now leads CCS development with a mandate requiring oil firms to create 50M tonnes/year CO2 storage by 2030, while U.S. While Delaware Basin permits rose 28% to 127, analysts expect sustained lower activity as operators adjust to oversupply concerns and OPEC+ output cuts easing.
To mitigate volatility, Exxon plans to invest $140 billion by 2030 into high-margin assets and achieve $7 billion in cost savings, aiming for an additional $20 billion in annual earnings and $30 billion in cash flow. Read more U.S. oil rig count jumps as gas rig count slides Summary : The total U.S. Weekly U.S. per barrel.
The Permian Basin saw the largest decline, losing three rigs and dropping to 297, the lowest level since February 2022. Geology and water say were close Summary : Some Permian Basin areas have hit geological limits, with the gas-to-oil ratio rising from 34% in 2014 to 40% in 2024, signaling production constraints.
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