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Khalda Petroleum, a joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) and Apache Corporation, is bringing two new wells into production in June 2025, with an initial estimated total of 5,400 barrels of crudeoil per day (bbl/d).
Kazakhstan has increased in February its crudeoil and gas condensate production by 13% to a record of 2.12 million barrels per day (bbl/d), exceeding its quota within the OPEC+ group of oil producers, as Reuters reported. Excluding gas condensate, Kazakhstan’s crudeoil production surged by 15.5%
(Investing) –Goldman Sachs reduced its oil price forecast following decisions by the Organization of the Petroleum Exporting Countries and its allies, OPEC+, to accelerate oil output increases, the bank said in a note dated Sunday. million barrels per day (mb/d), up from the previous estimate of 0.14 a barrel.
Energy Information Administration on Wednesday forecast that Alaska’s annual crudeoil production will increase in 2026, a first since 2017 and, if realized, the largest since 2002.
Oil forecasts show the immediate market impact from the approximately $10 per barrel drop in April 2025, with banks reducing their 2025 price projection to $58.30 per barrel from $61.89 per barrel in Fall 2024. Looking ahead to 2035, banks predict oil prices will hover in the $56.24-$57.24/bbl
(Oil Price) –The tariff wars and high spare capacity, mostly from the OPEC+ producers, are skewing the oil price risk to the downside in the medium term, according to Goldman Sachs. Earlier this week, Goldman Sachs cut its year-end forecast for Brent Crude prices, citing expectations of slower U.S.
This press release contains various references to the abbreviation boe which means barrels of oil equivalent. All boe conversions in this press release are derived by converting gas to oil at the ratio of six thousand cubic feet (mcf) of natural gas to one barrel (bbl) of crudeoil.
Financial Summary The combined company’s production forecast at closing is 370,000 boe/d (63% liquids) and based on commodity prices of US$70 /bbl WTI and C$2.00 /GJ AECO, the forecast annualized funds flow is $3.8 After annual capital investments of $2.6 billion 4 , free funds flow is forecast at $1.2
These discoveries have contributed to adding a total expected reserve (proven and probable) estimated at approximately 35 million barrels of oil equivalent (mmboe). Among the most prominent of these discoveries are the West Fewebs-1X well with a production capacity of 6,400 barrels of oil per day (bbl/d) and 25.5
Conventional / Mississippian Development Highlights Saturns 11-04 Frobisher Mississippian well at Browning in southeast Saskatchewan realized a record initial production rate after 30 days ( IP30 ) of approximately 340 barrels per day ( bbls/d ) based on a sample set of approximately 100 wells. GJ to $3.35/GJ.
Realized Pricing: Oil: $70.48/bbl bbl Natural gas: $1.35/Mcf bbl Cash and Capital Metrics: Cash capex : $501 million Adjusted operating cash flow : $961 million Net cash from operations : $898 million Controllable cash costs : $7.54/boe The upside in natural gas was driven by elevated ethane rejection.
Crudeoil recorded yet another record high, increasing over $4 per barrel to nearly $80. Bbl UP $4.11 Bbl UP $4.11 Commodity Price or Volumes Change since last % Change Natural Gas Spot (Henry Hub) $6.13/MMBtu MMBtu UP $0.32 West Texas Intermediate Spot $79.85/Bbl
Crudeoil was up over $2 per barrel. Bbl UP $2.22 Bbl UP $2.22 Since Wednesday, August 29, natural gas spot prices increased in most markets (exceptions were Florida and Rocky Mountain region). Commodity Price or Volumes Change since last % Change Natural Gas Spot (Henry Hub) $5.81/MMBtu
Once considered a mature and declining conventional oil play at the start of the 21st century, the Permian has grown into a global energy giant, second only to Saudi Arabia in crudeoil and condensate production. In 2025, crude and condensate output is projected to rise by 200,000 barrels per day (b/d), reaching 6.6
Oil and Gas Basins: Growth, Challenges, and 2025 Outlook Permian Basin (Texas & New Mexico) The Undisputed Leader 2023-2024 Overview The Permian Basin has remained the most important oil-producing region in the United States, supplying nearly 46% of the nations crudeoil output in 2024. crudeoil investments.
If you have ever wondered what it would be like if a major oil-producing country suddenly went offline, you are getting a preview of that now. Well, that also.
(BOE Report) – Following the rise in Brent prices to $76-77 per barrel, Goldman Sachs estimates a geopolitical risk premium of around $10 per barrel, the bank said in a note on Wednesday. million barrels per day (bpd) of crudeoil. Brent crude futures settled 25 cents higher at $76.70
million barrels per day reduction in Iranian oil exports. Attention is focused on the risk that a broader Middle East conflict could close the Strait of Hormuz, or provoke retaliatory responses from major oil producing countries in the region. Brent crude futures were trading near $68.76 per barrel. [O/R]
(Oil Price) –Global oil supply is set to rise by 1.2 million barrels per day (bpd) this year, lower by 260,000 bpd than the growth expected last month, the International Energy Agency (IEA) said on Tuesday, citing lower-than-forecast production from the United States and Venezuela.
(Investing) –Oil prices have plummeted to their lowest levels in more than three years, as China retaliates against President Trumps tariffs, intensifying the ongoing trade war and unsettling global markets. Brent Oil Futures dropped 7.6% a barrel at 14:05 GMT, while CrudeOil WTI Futures fell 8.4%
Oil prices below $50 a barrel could hurt final investment decisions on offshore projects, oilfield services company Weatherford International’s CEO Girish Saligram said on Monday. crudeoil prices down to over four-year lows to around $57, [Read more] Plans by the producer group OPEC+ to raise output and U.S.
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