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(Oil Price) – As if WTI oil prices in the low $60s per barrel aren’t enough to slow production growth at America’s top producing shale basin, the Permian, new guidelines for permitting saltwater disposal wells could raise the costs for operators, especially smaller producers with limited resources.
(World Oil) – Africas national oil companies (NOC) are moving beyond operating as state-representatives by transforming themselves into competitive upstream players. Boosting production Major oil producers in Africa are striving to boost production and NOC-IOC collaboration is at the forefront.
(World Oil) –Bayswater Exploration and Production (Bayswater), a Denver-based oil and natural gas development company closed the sale of certain Denver Julesburg (DJ) Basin assets to Prairie Operating Co. in a cash and stock transaction valued at approximately $603 million.
TotalEnergies expects its first-quarter oil and gas production to have increased by almost 4% on the year to the high end of the quarterly guidance range of 2.5 million barrels of oil equivalent per day (boe/d).
(World Oil) –MOL has discovered a new oil field near Somogysmson in Western Hungary. During the exploration drilling carried out in December 2024, oil was found at a depth of 1,250 meters. As a landlocked country, our oil supply is largely via pipelines and intermediaries, added Dr. Gyrgy Bacsa, COO of MOL Hungary.
(Investing) – bp today announced an oil discovery at the Far South prospect in the deepwater U.S. Both the initial well and a subsequent sidetrack encountered oil in high-quality Miocene reservoirs. million barrels of oil equivalent in 2030, with the capacity to increase production out to 2035.
(World Oil) –Vista Energy has acquired Petronas’ 50% stake in a region of the Vaca Muerta shale basin in a deal valued at $1.5 LACh spans across 46,594 acres in the black oil window of Vaca Muerta. billion USD. I firmly believe this represents a unique opportunity to create long-term value for our shareholders.
(BOE Report) –NEW YORK (Reuters Breakingviews) Oil fields are just as quick to make fortunes as break them. The 1901 Spindletop gusher in Texas jumpstarted the petroleum age, crashing oil prices. produced about 5 million barrels of crude oil per day, down by half from the 1970s. Twenty years ago, the U.S.
(Oil Price) –Libya will offer production sharing agreements to the successful bidders in its first oil and gas exploration bid round in 18 years, top Libyan oil officials said at an event in London on Monday. Libyas crude oil production currently exceeds 1.4 million barrels per day (bpd), NOC says.
“The transaction will immediately position the new joint venture as a market leader in the UKCS [UK continental shelf], with a projected 2025 production of approximately 130,000 barrels of oil equivalent per day”, a joint statement said.
(World Oil) – bp has received final government ratification for its contract to invest in the redevelopment of several giant oil fields in Kirkuk, in the north of Iraq. This is an enormous opportunity as we grow bps oil and gas business and fully aligned with our strategy of strengthening our upstream portfolio.
(Oil & Gas 360) –HOUSTON(BUSINESS WIRE) Chevron Corporation ( NYSE: CVX ) announced today that it started oil and natural gas production from the Ballymore subsea tieback in the deepwater Gulf of America. Co-owner TotalEnergies E&P USA, Inc. Malo facilities. has 40 percent working interest.
(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.
(BOE Report) – Oil and gas operators in North Dakota have indicated they plan to drop rigs and frac crews due to weaker oil prices, a move that is likely to impact output in the third largest U.S. oil producer, the states Department of Mineral Resources said on Friday.
(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 U.S.
Below we summarize recent (2024–2025) drilling activity, budget allocations, and production volumes in Oklahoma (primarily the Anadarko Basin and related plays) for six companies: Ovintiv , Mach Natural Resources , Devon Energy , Coterra Energy , Continental Resources , and Mewbourne Oil Company. Liquids” includes crude oil and NGLs.
(Oil Price) –Back in 2017, oil production in the Permian stood at 2.2 million barrels daily. Today, the Permian is producing over 6 million barrels daily, accounting for nearly half of the U.S. The consultancy expects output there to add 200,000 barrels daily this year, for a total of 6.6 before 2035.
(Oil Price) –Ever since BP admitted that its attempt to go green had ended in a disaster, the flow of news from the energy industry has been in one single direction: back to oil and gas, which make money. It also got an approval from the Iraqi government to start the development of two oil fields in the north.
(World Oil) –Chevron Corp. plans to lay off nearly 800 employees in the Permian basin, its biggest oil-production operation globally. 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.
(Oil Price) – Chevron will boost the so-called triple fracs fracturing three wells with one frac spread at one time to more than half of its wells in the Permian basin, a Chevron executive told Reuters , amid efforts to reduce the costs and times of fracking at the worlds top shale basin. supermajor, told Reuters in an interview.
(World Oil) –Colombias state-owned Ecopetrol SA is considering buying Carlyle Groups oil driller in the nation as it looks to boost reserves and output, its top executives said in an interview. Colombias biggest independent oil producer, for $1.5 Meanwhile, its oil reserves rose to 7.8 years last year, down from 7.2
(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.
(BOE Report) – ConocoPhillips is exploring the sale of oil and gas assets in Oklahoma that it inherited from its $22.5 billion takeover of Marathon Oil last year, people familiar with the matter said. Houston, Texas, USA – March 2, 2022: ConocoPhillips World Headquarters in Houston.
(Oil & Gas 360) – Publishers Note: Zephyr Energy plc will be presenting at the EnerCom Denver The Energy Investment Conference held at the Westin Denver Downtown on August 17-20, 2025. Initial production test observations include: A peak rate of 2,848 barrels of oil equivalent per day (“boepd”) (11.9
(Oil & Gas 360) – Publisher’s Note: EOG Resources will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown , August 17-20, 2025. Pro forma production totals 275,000 barrels of oil equivalent per day creating a leading producer in the Utica shale play. Register to attend.
Chevron Corporation, one of the worlds leading integrated energy companies, has announced the start of oil and natural gas production from the Ballymore subsea tieback project, located in the deepwater Gulf of America. holding a 60% working interest, with TotalEnergies E&P USA, Inc. owning the remaining 40%.
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
shale oil and gas producer at as much as $3 billion, including debt, people familiar with the matter said. The move aims to capitalize on the fact that the VTX oil and gas business is one of the few remaining privately-owned operators of scale in the Permian basin after the last two years run of dealmaking in the top U.S. billion.
(Oil Price) –First-quarter earnings at ExxonMobil ( NYSE: XOM ) topped analyst estimates as higher production in the Permian and offshore Guyana offset part of the lower realizations due to falling oil prices. million oil-equivalent barrels per day from Permian growth driven by the acquisition of Pioneer.
Oil prices have plunged to levels not seen in years, dragging down energy stocks and forcing a strategic reassessment across the U.S. To balance the market, oil prices may need to drop to a point where U.S. To balance the market, oil prices may need to drop to a point where U.S. Bottom Line: The oil market is on edge.
(Oil & Gas 360) – Publisher’s Note: Zephyr Energy will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown , August 17-20, 2025. The evaluation confirms that theCane Creekreservoir is highly productive and potentially ranks alongside some of the most productive oil and gas plays in theU.S.
Urban Oil & Gas Group, LLC, a Plano, Texas-based energy investment firm, has recently updated a pipeline operation permit from the Railroad Commission of Texas. In that month, it produced 11,802 barrels of oil and 139,548 MCF of gas. It produced 16,238 barrels of oil and 579,133 MCF of gas during that month.
(Oil & Gas 360) –April 17, 2025, Calgary, Alberta, Canada Reconnaissance Energy Africa Ltd. Recent regulatory reforms make Angola an attractive jurisdiction for new oil and gas exploration, and we look forward to working with ANPG and Sonangol as we progress our exploration initiatives.
(Oil & Gas 360) Opal Coalbank consists of nine DUC wells on track for production this summer Previously announced drilling of Rusch Pad ahead of schedule Recently announced strategic hedging program in the money by ~$70 million HOUSTON, TX, April 28, 2025 (GLOBE NEWSWIRE) — Prairie Operating Co. per barrel WTI and $4.28
(Oil & Gas 360) CALGARY, AB , April 10, 2025 /CNW/ – Reconnaissance Energy Africa Ltd. It is targeting 365 million barrels ofunrisked and 32 million barrels of risked prospective light/medium oil resources (1) , or 1.9 Prospect I is noted as location 63 in the NSAI report. (1)
Its estimated 2P reserves and 2C resources are 657mn barrels of oil equivalent, up from 544mn boe in December 2023. It also bought Japex UK E&P March 25, adding 15 percentage points to its existing stake in Seagull which now stands at 50%. It begins the year as the largest resource holder in the UK continental shelf.
(Oil & Gas 360) Publisher’s Note: Zephyr Energy plc will be presenting at the EnerCom Denver – The Energy Investment Conference held at the Westin Denver Downtown on August 17-20, 2025. million barrels of oil equivalent (“mmboe”), 2C resources of 34 mmboe and 2U resources 270 mmboe.
(Oil & Gas 360) –MIDLAND, Texas, June 03, 2025 (GLOBE NEWSWIRE) — Viper Energy, Inc. 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. billion as of March 31, 2025.
(Oil & Gas 360) Publisher’s Note: Whitecap Resources will be presenting at the 30th Anniversary EnerCom Denver-The Energy Investment Conference at the Westin Denver Downtown on August 17-20, 2025. Refer to Barrel of Oil Equivalency and Production & Product Type Information in this press release for additional disclosure.
(Oil & Gas 360) – Publisher’s Note: Zephyr Energy will be presenting at EneCom Denver – The Energy Investment Conference at the Westin Downtown on August 17-20, 2025. million barrels of oil equivalent (“mmboe”), 2C resources of 34 mmboe and 2U resources 270 mmboe. Register to attend.
(Oil & Gas 360) – Publisher’s Note: CanCambria Energy will be presenting at EneCom Denver – The Energy Investment Conference on August 17-20, 2025. million barrels (MMBBL) condensate/natural gas liquids (NGL) net to the company (un-risked). Register and reserve your room. CanCambria Energy Corp.
The Austin Chalkan overlying bench above the Eagle Ford Shaleis fast becoming the next big natural gas growth engine, with operators like EOG Resources, SM Energy, and Magnolia Oil & Gas ramping up development to meet rising LNG demand and domestic needs. 6 oil-focused wells averaged 1,056 boe /d (49% oil, 75% liquids).
Below, we break down Q1 2025 reports from Equinor , BP , Hess , and Northern Oil and Gas (NOG) , with a side-by-side comparison of production and net income, and a clear snapshot of how they stacked up against Q1 2024. Production and Operations Performance Oil and gas output was resilient, underpinned by high asset reliability.
The Austin Chalkan overlying bench above the Eagle Ford Shaleis fast becoming the next big natural gas growth engine, with operators like EOG Resources, SM Energy, and Magnolia Oil & Gas ramping up development to meet rising LNG demand and domestic needs. 6 oil-focused wells averaged 1,056 boe /d (49% oil, 75% liquids).
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