Oil & Gas 360º

MAY 5, 2025

produced about 5 million barrels of crude oil per day, down by half from the 1970s. With even remote fields like Alaskas North Slope sputtering and the cost to find and extract an additional barrel of oil rising, collapse loomed. That $62 per barrel break-even price in Midland is up from $46 in 2017.

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Oil & Gas 360º

APRIL 14, 2025

We are focused on delivering more affordable and reliable energy from this region, building our capacity to over 400,000 barrels of oil equivalent per day by the end of the decade. million barrels of oil equivalent in 2030, with the capacity to increase production out to 2035. onshore and offshore regions by 2030.

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Oil & Gas 360º

APRIL 25, 2025

per barrel during the January-March quarter, from $11.01 a barrel a year earlier. The companys refining unit posted a loss of $937 million during the first quarter, compared with a profit of $216 million a year ago. Phillips 66 said its realized refining margins fell to $6.81

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Rextag

MAY 5, 2025

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.

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Oil & Gas 360º

MAY 30, 2025

Chief Executive Officer Mike Wirth is looking to reduce structural costs by $3 billion, making the company more efficient and better able to withstand low oil prices. Wirth has said he expects the operation to plateau in the latter half of the 2020s as the company focuses on reduced spending and higher free cash flow.

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Oil & Gas 360º

MARCH 26, 2025

The agreement is for an initial phase that includes oil and gas production of more than 3 billion barrels of oil equivalent. It includes the Baba and Avanah domes of the Kirkuk oil field and three adjacent fields in Federal Iraq Bai Hassan, Jambur and Khabbaz all of which are currently operated by the NOC.

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Oil & Gas 360º

APRIL 28, 2025

The well performed in line with expectations during the 12-day production test, averaging 2,700 barrels of oil per day during the final flow period, without artificial lift. The vertical Sockeye-2 well was completed in a single 25-foot interval at approximately 9,200 feet TVD, without stimulation.

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Oil & Gas 360º

MAY 15, 2025

(Oil Price) –Economic headwinds and record electric vehicle sales are set to materially slow down global oil demand growth for the rest of the year, the International Energy Agency (IEA) said on Thursday. World oil demand rose by 990,000 barrels per day (bpd) in the first quarter of 2025.

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Oil & Gas 360º

MARCH 10, 2025

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. Crude oil therefore refers to light oil, medium oil, tight oil and condensate.

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Oil & Gas 360º

MAY 2, 2025

million oil-equivalent barrels per day from Permian growth driven by the acquisition of Pioneer. Upstream earnings increased by $1.1 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

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Oil & Gas 360º

APRIL 17, 2025

(the Company or ReconAfrica) (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) (NSX: REC) announces an agreement for a joint exploration project in Angola with the Agncia Nacional de Petrleo, Gs e Biocombustveis or National Oil, Gas and Biofuels Agency (ANPG).

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Oil & Gas 360º

MARCH 31, 2025

The supermajor just announced the final investment decision on a Trinidad and Tobago gas project, due to start producing in two years with a peak output of 62,000 barrels of oil equivalent daily. It also got an approval from the Iraqi government to start the development of two oil fields in the north. BP is very much back.

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Oil & Gas 360º

JUNE 3, 2025

This transaction positions Viper to compete for capital with mid and large cap North American E&Ps; except with higher margins, minimal operating costs, and the lowest dividend breakeven in the space. Viper defines free cash flow margin as cash flow from operations less capital expenditures divided by total barrels of oil equivalents.

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Oil Gas Leads

JUNE 11, 2025

MBOE/d (Q4 2024; 24% oil) ~$260–$280 MM planned 2025 ~1 rig (reduced from 2 in mid-2024) Devon Energy ~79 MBOE/d (Q1 2025; ~15% oil) ~$150 MM planned 2025 2 rigs in 2025 (down from 3 in 2024) Coterra Energy ~64 MBOE/d (2024 avg) ~$289 MM in 2024 1 rig at end-2024 (added rig in 2025) Continental Resources (private) ~32% of co.

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Oil & Gas 360º

MAY 19, 2025

(Oil Price) –The decline in oil prices and the prevailing uncertainty about the economy, trade, and supply chains are accelerating the peak in U.S. oil production despite President Donald Trumps drill, baby, drill slogan. oil production is being accelerated and could be sooner than previously expected. With the U.S.

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Oil & Gas 360º

MAY 15, 2025

(Investing) –LONDON – OPEC on Wednesday trimmed its forecast for growth in oil supply from the United States and other producers outside the wider OPEC+ group this year and said it expected lower capital spending following a decline in oil prices. President Donald Trumps tariffs.

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Oil & Gas 360º

MAY 14, 2025

(Investing) –LONDON – OPEC on Wednesday trimmed its forecast for growth in oil supply from the United States and other producers outside the wider OPEC+ group this year and said it expected lower capital spending following a decline in oil prices. President Donald Trumps tariffs.

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Oil & Gas 360º

APRIL 29, 2025

Canada is the worlds fourth-largest oil producer and the fifth-largest gas producer,accordingto the International Energy Agency. Nearly all of its oil and much of its gas is exported to the U.S. West Texas Intermediate oil prices have fallen by about 20, to near $63 a barrel, since U.S.

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Oil & Gas 360º

APRIL 9, 2025

(Oil Price) –Shale boss Bryan Sheffield, the son of Pioneer Natural Resources founder Scott Sheffield, appears to have called on Americas shale drillers to cut drilling immediately, as Brent crude flirts with prices below $60 and WTI falls to $57/barrel. In just two daysThursday and FridayU.S.

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Oil & Gas 360º

MAY 1, 2025

economy and the prospect of higher OPEC+ oil output. West Texas Intermediate crude futures eased 15 cents or 0.3% a barrel by 12:30 p.m. Brent crude futures fell 18 cents or 0.2% crude oil stockpiles fell unexpectedly by 2.7 -Iran talks offset concerns about the U.S. ET (1630 GMT).

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Oil & Gas 360º

JUNE 3, 2025

The first (2014-2016) was based on Saudi Arabias belief shared by many in the oil market at the time, it must be said — that U.S. shale oil producers had a breakeven price point of US$70 per barrel (pb) of for the West Texas Intermediate benchmark. shale oil producers would go bankrupt. according to IMF figures.

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Oil & Gas 360º

MAY 2, 2025

oil producer posted adjusted earnings of $3.8 Chevrons global oil production totaled 3.35 million barrels of oil equivalent per day (boepd), flat from the same period last year. Earnings from oil and gas production were $3.76 The second-largest U.S. billion during the three months ended March 31, or $2.18

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Oil & Gas 360º

APRIL 30, 2025

(World Oil) – bp Plc is off to a great start in its strategy reset and can follow through on the turnaround despite the recent drop in oil prices, said Chief Executive Officer Murray Auchincloss.

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Oil & Gas 360º

JUNE 11, 2025

The DUC count — which rose by 25 to 5,319 in May — tends to rise when the shale sector wants to wait out low oil prices and then frack when they get higher. 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.

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Oil & Gas 360º

APRIL 8, 2025

In Alaskas north, ConocoPhillips is developing the Willow oil project, which was approved by the Biden Administration in 2023. Australia-based Santos, for its part, is developing the Pikka project in the North Slope, with first oil expected next year.

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Oil & Gas 360º

MARCH 10, 2025

Trumps policies on trade and foreign policy have, however, threatened to drive up the cost of millions of barrels of oil that U.S. His rapid pivot on foreign policy with Russia could upend global oil flows and reduce the European market for U.S. oil and gas, if the U.S. a barrel this year and just $66.46

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Oil & Gas 360º

MARCH 13, 2025

The United States already became the worlds top oil and gas producer under former President Joe Biden. Energy Information Administration expects crude oil production to rise to a new record average of 13.61 million barrels per day (bpd) in 2025 and climb further to 13.76 oil prices are currently around $68 a barrel.

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