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BP’s Q1 2025 Update: Gulf of Mexico Success, Increased Texas Drilling & Oil Price Softness

Oil Gas Leads

This shorter cycle time from drilling to production optimizes capital efficiency and improves returns. Looking ahead, BP plans to drill around 40 exploration wells over the next three years , underscoring its ambition to expand its upstream production base. BPs internal planning assumptions currently model Brent crude at $71.50

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Oklahoma Operations of Key Oil & Gas Companies (2025)

Oil Gas Leads

Top 10 Oparators in Oklahoma by Wells Drilled (June 2025) Company Oklahoma Production Oklahoma CapEx Active Rigs (Drilling) Ovintiv ~91 MBOE/d (Q1 2025; ~55% liquids) ~$300–$325 MM planned 2025 ~1–2 rigs (added one in early 2025) Mach Natural Resources (Mach) ~86.7 Liquids” includes crude oil and NGLs.

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What Comes After the Permian for IOCs? A Basin of Enormous Value

Rextag

Permian Growth Isnt OverYet Despite a reduction in drilling rigs driven by weaker oil prices, production in the Permian is still increasing. In 2025, crude and condensate output is projected to rise by 200,000 barrels per day (b/d), reaching 6.6 million b/d by 2035 assuming a real oil price of US$70 per barrel (WTI).

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Strathcona announces sale of Montney business for $2.84 billion and acquisition of Hardisty Rail Terminal

Oil & Gas 360º

HRT is directly connected to the Hardisty Diluent Recovery Unit, an innovative facility which separates diluent from raw bitumen prior to rail transportation, allowing for a competitive netback for upstream producers versus pipeline alternatives. and www.strathconaresources.com. Boe may be misleading, particularly if used in isolation.

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