Rigzone

JULY 18, 2025

million stock tank barrels. million stock tank barrels. “Drilling of ‘Ain Dar began in 1948, with production starting in 1951 at an extraordinary rate of 15,600 barrels per day (bpd) of ‘dry oil’- which contains only a small amount of basic sediments,” the story noted. billion barrels of oil.

Oil

Permian Basin Oil and Gas Magazine

JUNE 24, 2025

The field currently is producing 108 barrels of oil per day from 19 actively producing wells (to add $1.2 The post EON Energy acquires 94 percent interest in South Justis field in Lea County appeared first on Permian Basin Oil and Gas Magazine.

Field

Permian Basin Oil and Gas Magazine

AUGUST 1, 2025

Lashier said the company’s refining unit achieved its lowest cost-per-barrel since 2021. The post Phillips 66 says Dos Picos II gas processing plant in Midland Basin now online appeared first on Permian Basin Oil and Gas Magazine.

Basin

Oil & Gas Journal

AUGUST 1, 2025

times the barrels it does in the Denver-Julesburg basin and five times as many as in the Bakken—is in the lead when it comes to the focus on cash flow. “At some point, growth is less the objective than free cash flow,” chief executive officer Mike Wirth told analysts and investors on an Aug. 5 billion.

Exploration and Production

Oil & Gas Journal

JULY 28, 2025

The FPU will be connected to a floating storage offloading (FSO) vessel with a capacity of 950,000 barrels of oil. The resource will be developed through an FPU with an oil production capacity of 100,000 b/d.

Exploration and Production

Oilfield Technology

JULY 23, 2025

An Independent Expert Report completed by Cawley Gillespie & Associates in June 2024 estimates the primary target to contain a 2C Contingent Resource of 282 million barrels of ANS Crude (oil, condensate & NGLs) and 804 billion ft3 of natural gas. Please sign in or register for free. Already a member?

Spud-in

Permian Basin Oil and Gas Magazine

JUNE 26, 2025

Viper SWOT Viper Energy delivers strong operational results, with Q1 2025 oil production of 31,311 barrels per day and industry-leading gross profit margins of 92.92 The post Viper’s Royalty Model: Worth a Look appeared first on Permian Basin Oil and Gas Magazine. The upcoming $4.45

Royalty

Oil & Gas Journal

JULY 23, 2025

India has ramped up Russian crude imports in recent years, lured by steep discounts and the suitability of Russian barrels for middle distillate refining. Russia, on the other hand, will face significant impacts contingent on peace negotiations," Srivastava said. Reliance, with a massive refining capacity of about 1.2

Refinery

Permian Basin Oil and Gas Magazine

APRIL 29, 2025

First quarter production was 475,944 barrels of oil per day (850,656 boed). The post Facing market volatility, Diamondback reviewing operating plan for 2025 appeared first on Permian Basin Oil and Gas Magazine. Diamondback said it can further lower its breakeven oil price through capital and operating cost reductions.

Operator

Permian Basin Oil and Gas Magazine

APRIL 1, 2025

Texas produced 2.003 billion barrels of crude oil in 2024 a record volume, according to Railroad Commission of Texas, and the first time for the state to top 2 billion barrels in one year. The commission said March 26 that Texas produced 2,003,844,281 barrels of oil to better the recent records of 1.99 billion barrels in 2019.

Natural Gas

Permian Basin Oil and Gas Magazine

APRIL 22, 2025

They are Big Hill in Jefferson County near Beaumont (capacity 170 million barrels), Bryan Mound in Brazoria County near Freeport (247 million barrels), West Hackberry in Cameron Parish near Lake Charles, La., (220 220 million barrels) and Bayou Choctaw in Iberville Parish near Baton Rouge (76 million barrels).

Operator

Permian Basin Oil and Gas Magazine

MARCH 4, 2025

million barrels (80,200 barrels per day) up 23 percent from 2023. Estimated net proved reserves at yearend 2024 were 673 million barrels of oil equivalent, including 51 percent in south Texas, 34 percent in Midland Basin and 15 percent in Uinta Basin. Production in 4Q in Midland Basin was 4,957,000 barrels of oil (53,900 b/d).

Basin

Permian Basin Oil and Gas Magazine

MAY 13, 2025

In the first three months, Devon produced 388,000 barrels per day of oil and 815,000 boed from its assets in Delaware Basin, Eagle Ford, Rockies and Anadarko. Clay Gaspar, president and CEO, said May 6 that 2025 oil production is expected to be 382,000 to 388,000 barrels per day an increase of 2,000 from previous guidance.

Energy

Permian Basin Oil and Gas Magazine

MAY 13, 2025

First quarter production was 174,967 barrels of crude oil per day and 373,200 boed. appeared first on Permian Basin Oil and Gas Magazine. Permian Resources expects to turn in line 275 gross wells down from the forecast of 285 earlier this year and in line with 2024 levels.

Basin

Permian Basin Oil and Gas Magazine

MAY 30, 2025

Civitas said May 8 that production guidelines this year remain at 330,000 boed and 152,500 barrels per day of crude oil. The post Civitas maintains 2025 production forecast in Permian, DJ basins; cuts capex appeared first on Permian Basin Oil and Gas Magazine. billion to $1.9 billion for 2025.

Basin

Permian Basin Oil and Gas Magazine

APRIL 18, 2025

million barrels per day. crude oil exports reach record in 2024 appeared first on Permian Basin Oil and Gas Magazine. Energy Information Administration said April 10 the nations crude oil exports reached a record in 2024. Exports erased the record set in 2023 by exceeding an annual average of 4.1 Crude oil production in U.S.

Crude Oil

Permian Basin Oil and Gas Magazine

APRIL 4, 2025

Production in the state surpassed 2 million barrels per day in 2024 more than double that of 2019 (about 0.9 The post New Mexico becoming energy powerhouse, surpasses 2 million b/d in 2024 appeared first on Permian Basin Oil and Gas Magazine. 2 in oil production in the U.S. million b/d).

Exploration and Production

Permian Basin Oil and Gas Magazine

APRIL 4, 2025

The average production for Mentors portion of the project is 10 barrels of oil per day plus 24,000 cubic feet per day of natural gas. The post Mentor Capital purchases royalty acres in 71-well project in Permian Basin appeared first on Permian Basin Oil and Gas Magazine. Mentor said its royalty stream is equivalent to 12.5

Royalty

Permian Basin Oil and Gas Magazine

MARCH 11, 2025

BANGL transports up to 250,000 barrels per day of natural gas liquids from Permian Basin in west Texas to fractionation markets on the Gulf Coast. The post MPLX to acquire remaining interests in BANGL pipeline from Permian to Gulf appeared first on Permian Basin Oil and Gas Magazine. Maryann Mannen, president and CEO, said Feb.

Pipeline

Permian Basin Oil and Gas Magazine

APRIL 25, 2025

crude oil production grew by 270,000 barrels per day in 2024 to average 13.2 million b/d appeared first on Permian Basin Oil and Gas Magazine. million b/d, according to the latest Petroleum Supply Monthly from U.S. Energy Information Administration. EIA said April 16 most of the growth came from Permian Basin. crude oil production.

Crude Oil

Permian Basin Oil and Gas Magazine

MARCH 7, 2025

Fourth quarter production was 171,300 barrels of oil per day (368,400 boed). The post Permian Resources plans to increase production in 2025 by 8 percent appeared first on Permian Basin Oil and Gas Magazine. The company also announced the divestiture of its Barilla Draw natural gas and oil gathering systems for $180 million.

Basin

Permian Basin Oil and Gas Magazine

MAY 9, 2025

million barrels per day of NGLs, crude oil, refined products and petrochemicals. The post Enterprise reports increase in throughput volumes in first quarter appeared first on Permian Basin Oil and Gas Magazine. Total fee-based natural gas processing volumes increased 12 percent or 760 million cfd to a record 7.2

Natural Gas

Permian Basin Oil and Gas Magazine

MARCH 4, 2025

Oil production for 2025 is forecast at 150,000 to 155,000 barrels per day. The post Civitas expands Permian position with new assets in Howard, Glasscock, Upton appeared first on Permian Basin Oil and Gas Magazine. Chris Doyle, president and CEO, said Feb. Forty percent of Permian activity is planned in Delaware Basin.

Basin

Permian Basin Oil and Gas Magazine

MAY 23, 2025

million barrels per day a gain of 252,000 b/d over last year before falling to 13.33 crude oil production next year appeared first on Permian Basin Oil and Gas Magazine. A combination of slowing global oil demand fueled by uncertainty over U.S. trade and a coming supply surplus will curtail U.S.

Crude Oil

Permian Basin Oil and Gas Magazine

MAY 6, 2025

Despite the spending cut, Ring said it will maintain its second quarter production guidance of 14,200 barrels of oil per day (21,500 boed). The post Ring Energy to reduce spending in 2Q by more than 50 percent appeared first on Permian Basin Oil and Gas Magazine.

Exploration and Production

Permian Basin Oil and Gas Magazine

MARCH 4, 2025

Crude oil exports by Pemex, Mexicos state-owned petroleum company managed and operated by the Mexican government, fell 44 percent in January 2025 compared to the same month last year to 532,404 barrels per day. appeared first on Permian Basin Oil and Gas Magazine.

Crude Oil

Permian Basin Oil and Gas Magazine

MAY 30, 2025

Output is on track to reach one million barrels of oil equivalent per day in the coming months to account for nearly a third of the companys total global production. The post Chevron announces layoffs of 200 people at its campus in Midland appeared first on Permian Basin Oil and Gas Magazine.

IT

Permian Basin Oil and Gas Magazine

MAY 23, 2025

From May 1 to May 19, Brent crude oil prices averaged $64 per barrel, 20 percent less in real terms than in January and 26 percent less than in May 2024. The post Retail price for gasoline 11 percent lower for Memorial Day compared to 2024 appeared first on Permian Basin Oil and Gas Magazine.

Crude Oil

Permian Basin Oil and Gas Magazine

APRIL 14, 2025

The Permian Basin alone produces approximately 15 millions of barrels of water a day. Applying the standard rate of 44 gallons to the barrel, a total of 15 million barrels equals about 660,000,000 gallons of water a day. The post The Produced Water Challenge appeared first on Permian Basin Oil and Gas Magazine.

Basin

Permian Basin Oil and Gas Magazine

MAY 6, 2025

In first quarter Diamondback produced 475,900 barrels of oil per day above high end of guidance of 470,000 to 475,000 b/d. production to decline in 2Q appeared first on Permian Basin Oil and Gas Magazine. We also expect the U.S. Capex was $942 million below midpoint of guidance of $900 million to $1.0

Basin

Permian Basin Oil and Gas Magazine

MAY 12, 2025

The oil produced through EOR using CO 2 captured from Direct Air Capture not only extends the life of the reservoir but can also be used to produce a net zero barrel of oil. This is because the volume of CO 2 that is injected to produce the barrel is equal to the emissions it creates.

Casing

Permian Basin Oil and Gas Magazine

MAY 1, 2025

Texas has the potential to unlock millions of barrels of safe, treated produced water, but we must diligently build the legal frameworks that incentivize operators to invest private capital in these initiatives. Julie Anderson is editor of County Progress Magazine and is past editor of Permian Basin Oil and Gas.

Abandonment

Permian Basin Oil and Gas Magazine

MAY 9, 2025

Inventories at SPR dipped to a low of 351,000 barrels in October 2023 after sales of SPR crude to combat market supply disruptions after Russias invasion of Ukraine. Wright and President Trump hope to boost SPR crude to its capacity of 680 million barrels. Estimated cost to refill the SPR is $20 million over a period of years.

Petroleum

Permian Basin Oil and Gas Magazine

MAY 5, 2025

Beyond just the percentage, the states absolute total barrels increased by more than any other, says the Fed. million barrels per day in New Mexico, compared with a rise of 0.4 million barrels per day in Texas. Paul Wiseman A longtime contributor to PB Oil and Gas Magazine, Paul Wiseman is an energy industry freelance writer.

Basin

Permian Basin Oil and Gas Magazine

APRIL 28, 2025

The longer-term weekly chart, which sets moving averages below both the 100 and the 200 period, is possibly trending back towards the $65-per-barrel area. appeared first on Permian Basin Oil and Gas Magazine. Well, looking from a longer-term technical outlook the trends have been retracing lowerfor WTI crude futures.

E&P

Permian Basin Oil and Gas Magazine

MARCH 21, 2025

The SPR, worlds largest emergency crude oil stockpile with capacity to store 727 million barrels, now holds about 395 million barrels. Reuters said $20 billion would buy about 301 million barrels of U.S. crude oil at todays prices to leave SPR still below 700 million barrels. The post Energy secretary says filling U.S.

Crude Oil