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In May, the company reported that Megrez-1 produced over 2,000 barrels per day of liquids—but no meaningful oil or gas. Pantheon says oil remains the key value driver, while associated gas could support financing through Alaska LNG Phase 1. The well was suspended, and shares dropped to 20.65
Top posted industry occupations for May included retail salespersons (355), heavy and tractor-trailer truck drivers (285), and maintenance and repair workers, general (284). million barrels per day in the second quarter of 2025. Almost all of the production growth has come from the Permian Basin region.
The Permian Basin continues to demonstrate resilience and growth as we close out the fourth quarter of 2024. A combination of rising energy prices, stable production, and economic expansion has positioned the region as a key driver of the U.S. per barrel , marking a 5.2% per barrel of oil equivalent (boe) , up 15.6%
Initial production test observations include: A peak rate of 2,848 barrels of oil equivalent per day (“boepd”) (11.9 million standard cubic feet per day (“mmscf/d”) and 856 barrels of oil per day (“bopd”)) on a 18/64-inch choke setting, which was achieved with no material drop in bottom hole pressure.
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.
The Permian Basin continues to be a driving force behind U.S. Heres a breakdown of what was said about the companys investments and outlook for the basin. Heres a breakdown of what was said about the companys investments and outlook for the basin. oil and gas production, and ONEOK Inc. Bcf/d in 2025.
Phillips 66 is making big moves in the Permian Basin , a critical hub for U.S. The EPIC acquisition will allow them to shift these barrels onto their own network , capturing better margins and improving logistics efficiency. energy production.
In addition, the Company also provides initial results related to hydrocarbon production in the first quarter of 2025 (“Q1”)from its non-operated asset portfolio in theWilliston Basin,North DakotaandMontana,U.S.(the million barrels of oil equivalent (“boe”) for the well. the “Paradox project”).In
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. What are the key companies doing to stay competitive? MMBbl/d.
upstream growth, driven by advantaged assets like the Permian Basin, is central to the companys long-term performance. ExxonMobils first-quarter 2025 results reveal a clear narrative: U.S. million boe/d in Q1. What Does “Advantaged” Mean?
Energy Transfer’s latest earnings call highlighted record-breaking production in the Permian Basin, strategic midstream and pipeline investments, and surging global demand for LNG, LPG, and NGL exports. Permian Basin: Unprecedented Growth Driving Midstream Expansion The Permian Basin continues to be the dominant driver of U.S.
poised to expand LNG export capacity , interest in gassy basins has surged. Bcf/d, while oil output from the formation has increased by 26,000 barrels per day ( bbl /d). Conclusion: Austin Chalks Gas Revival is Here What started as a secondary zone is fast becoming South Texas primary growth driver for natural gas.
poised to expand LNG export capacity , interest in gassy basins has surged. Bcf/d, while oil output from the formation has increased by 26,000 barrels per day ( bbl /d). Conclusion: Austin Chalks Gas Revival is Here What started as a secondary zone is fast becoming South Texas primary growth driver for natural gas.
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. Benchmark U.S.
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