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Focus is now on the group’s intentions for those barrels. million barrel-a-day round of cuts is unwound” at the group’s next meeting in early August, Daan Struyven, the bank’s co-head of global commodities research, told Bloomberg TV on the sidelines of a seminar the Organization of the Petroleum Exporting Countries is holding in Vienna.
The assets to be sold hold about 463 million barrels of 2C resources, London-based Tullow said in a statement online. The transaction involves the sale of the shares of Tullow Kenya BV by Tullow Overseas Holdings BV to Gulf Energy’s Auron Energy E&P Ltd. The sale is expected to be completed this year.
“Halliburton will provide subsurface technology, drilling and completion services, and digital solutions for major new developments”, Houston, Texas-based Halliburton said in a press release. The contract also covers decommissioning.
private) (N/A – private; high gas focus) (N/A – private) ~7–9 rigs in Oklahoma (2025) (21 wells drilled in 2023) Note: MBOE/d = thousand barrels of oil equivalent per day. Capital and activity: In 2024, Coterra invested $289 million in drilling and completions in the Anadarko Basin. Liquids” includes crude oil and NGLs.
(NYSE: LBRT) delivered a strong second quarter performance in 2025, highlighting its ability to outperform in a softening completions market while pushing forward with game-changing technology and infrastructure initiatives. From frac innovation to hybrid microgrids, Liberty is reshaping what an oilfield services company can be.
The company is about to complete a transformative “Drop Down” transaction with parent company Diamondback Energy (FANG) that promises to significantly reshape Viper’s production profile in 2025. It was finally signed in January 2025 and will complete in Q2 2025. The upcoming $4.45
operators will drill and complete fewer wells through 2026, the EIA estimated. million barrels per day in 2026, up roughly 40,000 barrels from last month’s forecast, mitigating the impact of reduced activity in other crude-producing regions. saying production has already peaked. With fewer active drilling rigs, U.S.
Following this transaction, Bayswater will retain and operate 70 horizontal wells producing approximately 18,000 boed and a nine well pad currently being completed by Halliburton. Lynn Belcher, Chief Operating Officer of Bayswater , added “This sale represents the natural evolution and successful execution of our business model.
Libyas NOC is working with IOCs Repsol, bp, TotalEnergies, ConocoPhillips and more to increase output to two million barrels per day (bpd). The partners completed the offshore platform for Angolas first non-associated gas project in February 2025, with production on track for early-2026.
(Nasdaq: PROP) (the Company or Prairie) an independent energy company engaged in the development and acquisition of oil and natural gas resources in the Denver-Julesburg (DJ) Basin today announced it is beginning completions of nine previously drilled but uncompleted (DUC) wells acquired in the recent Bayswater transaction.
(World Oil) – APA Corporation and its partners Lagniappe Alaska, LLC, an Armstrong company, and Oil Search (Alaska), LLC, a subsidiary of Santos Limited, have completed successful flow testing of the Sockeye-2 exploratory well in Alaska’s North Slope.
The drilling of the new well in the Somogysmson oilfield, called Som-8, began on November 25, 2024, and was completed after 33 days. MOL has ambitious E&P investment plans. thousand barrels of oil equivalent per day (boed). This new discovery will also help meet the country’s energy needs.
Chevron plans to use triple-frac on between 50% and 60% of its wells in the Permian, up from 20% of wells triple-fracked last year, Jeff Newhook, a completions operations manager at the U.S. That level is already about $10 a barrel below the average $65 per barrel price U.S. supermajor, told Reuters in an interview.
(World Oil) –INEOS Energy has completed its acquisition of the U.S. The deal increases INEOS Energys production globally to over 90,000 barrels of oil equivalent per day (boed) and marks the third major investment by INEOS Energy in the U.S., Gulf business held by CNOOC Energy Holdings U.S.A.
“The decision to perform a novel perforation and acidisation completion has been very much vindicated, and the potential for further optimisation of the project is exciting. BCF/1000 feet (‘) of perforated interval) and between 160,000 and 240,000 barrels of condensate, equivalent to a total range of 0.827 to 1.24
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.
From signing a memorandum of understanding last year to now fully completing our agreement, were looking forward to getting to work. The agreement is for an initial phase that includes oil and gas production of more than 3 billion barrels of oil equivalent.
The Anadarko assets produce around 39,000 barrels of oil equivalent per day, of which about half is natural gas, two of the sources said. billion of Marathons debt as part of the acquisition, has already disposed of assets worth more than $1 billion since it completed the Marathon deal in November.
The Ballymore development is designed to produce up to 75,000 gross barrels of oil per day from three production wells, all connected via a subsea tieback to Chevrons existing Blind Faith facility, located approximately three miles from the well site. holding a 60% working interest, with TotalEnergies E&P USA, Inc.
Ballymore, the latest in a series of Chevron projects to start up in the past year, represents another step towards the companys goal to produce 300,000 net barrels per day of oil equivalent from the Gulf in 2026. Co-owner TotalEnergies E&P USA, Inc. Malo facilities. Chevron subsidiary Chevron U.S.A.
Encinos acreage improves the quality and depth of our Utica position, expanding EOGs multi-basin portfolio to more than 12 billion barrels of oil equivalent net resource. Pro forma production totals 275,000 barrels of oil equivalent per day creating a leading producer in the Utica shale play.
Ithaca Energy will be able to make material dividend distributions to shareholders following the completion of its merger with Eni UK in October, it said March 26. Its estimated 2P reserves and 2C resources are 657mn barrels of oil equivalent, up from 544mn boe in December 2023.
Since 2021, Zephyr has completed 14 discrete acquisitions in theWilliston Basinand built a highly experienced team which previously managed over 4,000 non-operated wells throughout the region. million barrels of oil equivalent (“mmboe”), 2C resources of 34 mmboe and 2U resources 270 mmboe.
million barrels (MMBBL) condensate/natural gas liquids (NGL) net to the company (un-risked). The complete resource evaluation can be downloaded from SEDAR+. The resulting seismic-derived facies models provide a significant improvement over all older characterization efforts. billion cubic feet (BCF) natural gas and 66.5
It is targeting 365 million barrels ofunrisked and 32 million barrels of risked prospective light/medium oil resources (1) , or 1.9 ” DRILLING PLANS UPDATE Pre-construction activities are continuing on schedule and the pre-drill evaluation is complete.
Refer to Barrel of Oil Equivalency and Production & Product Type Information in this press release for additional disclosure. Barrel of Oil Equivalency “Boe” means barrel of oil equivalent. Refer to the Specified Financial Measures section in this press release for additional disclosure and assumptions.
Bcf/d, while oil output from the formation has increased by 26,000 barrels per day ( bbl /d). Improved horizontal drilling, well completions, and analytics are helping operators unlock the Chalks complex geology. While the Eagle Ford Shale still contributes 73% of this supply, the Austin Chalk is showing the fastest growth trajectory.
Equinor Q1 2025 Performance Total Equity Production: 2,123 mboe/day Equinors total equity production in the first quarter of 2025 was 2,123 thousand barrels of oil equivalent per day (mboe/d). This represents a slight decline compared to 2,164 mboe/d in Q1 2024 a decrease of about 1.9%. increase from 1,056 mb/d in Q1 2024. shale basins.
Bcf/d, while oil output from the formation has increased by 26,000 barrels per day ( bbl /d). Improved horizontal drilling, well completions, and analytics are helping operators unlock the Chalks complex geology. While the Eagle Ford Shale still contributes 73% of this supply, the Austin Chalk is showing the fastest growth trajectory.
million barrels of oil equivalent per day (boepd), flat from the same period last year. The company completed an expansion at the Tengiz oilfield in Kazakhstan in January and grew production from the Permian basin, the top U.S. The second-largest U.S. oil producer posted adjusted earnings of $3.8 billion, down from $5.24
The $8-billion project is expected to see peak production of 160,000 barrels of oil per day, beginning in 2029, according to 2020 estimates but since then, this has been revised up to a maximum of 180,000 barrels per day (bpd). The pipeline for the Pikka project is expected to be completed by the end of 2025.
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