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. June 26, 2025 76827000 © Rawpixelimages | Dreamstime.com Podcasts ICYMI: Chevron closes Hess deal, whats next for 2025 upstream M&A? “And we’re approaching that point.”

Exploration and Production

Rigzone

JUNE 27, 2025

Adura, which will be equally owned, combines the two companies’ offshore assets in the UK, where Shell currently produces over 100,000 barrels of oil equivalent a day (boed) and Equinor about 38,000 boed. “Adura is expected to produce over 140,000 barrels of oil equivalent per day in 2025”, Equinor said.

Exploration and Production

Valor

JUNE 16, 2025

Oil prices fall more than $1 barrel on reports Iran seeks truce with Israel Summary : Oil prices fell 1.3% Offshore activity held at 13 rigs (-9 y/y). The system shares data with Texas’ Utilities Commission to identify critical infrastructure under SB 3/HB 3648 laws, linking upstream production to power plants.

Energy

Rigzone

JULY 9, 2025

“We look forward to engaging with Interior to leverage new technologies to support more efficient and responsible oil and natural gas production on federal lands”, the lobby group’s upstream policy vice president, Holly Hopkins, said in a statement.

Exploration and Production

Oil & Gas 360º

JULY 31, 2025

At under $2 for each additional barrel of oil recovered, ESal’s, RightWater offers one of the most cost-effective and environmentally responsible recovery methods available today. Guaranteed.

Energy

Rigzone

JULY 24, 2025

The figure also marks the fourth consecutive month that Norway’s gas output fell year-on-year, according to data from the Norwegian Offshore Directorate (NOD). Bscm from May, according to the upstream regulator. million barrels per day (MMbd), down 6.4 June 2025’s gas production dropped 2.2 percent against June 2024.

Gas

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 upgrade your browser to improve your experience. Already a member?

Spud-in

OilPrice

MAY 29, 2025

Portugal-based energy company Galp expects its oil production in Brazil to jump by 40% in the coming years as a new major field is set to begin production later in 2025, Nuno Bastos, EVP Upstream, has said. Currently, Galp holds stakes in various oilfields in the deep waters of the Santos basin in the prolific pre-salt layer offshore Brazil.

Field

Oil & Gas 360º

APRIL 14, 2025

This discovery in the deepwater Gulf of America/Gulf of Mexico underscores how bp is in action to step up investment in exploration and strengthen its upstream portfolio under the strategy reset announced in February 2025. bp expects to grow its global upstream production to 2.3 onshore and offshore regions by 2030.

Oil

Oil & Gas 360º

APRIL 3, 2025

(Oil Price) –BP said on Thursday that its Cypre development offshore Trinidad and Tobago delivered first gas, as yet another project started up since the supermajor reset its strategy to shift focus back to oil and gas. million barrels of oil equivalent per day (boed) in 2030, with capacity to increase to 2035.

Gas

Oil Gas Leads

MAY 2, 2025

upstream growth, driven by advantaged assets like the Permian Basin, is central to the companys long-term performance. Upstream Results: Permian Power ExxonMobils U.S. upstream earnings jumped to $1.87 Upstream Results: Permian Power ExxonMobils U.S. upstream earnings jumped to $1.87 billion in Q1 2024.

Upstream

Rextag

MAY 5, 2025

This development marks a significant step in Chevrons strategic offshore growth and reinforces its broader production goals in one of its most prolific regions. He continued, Ballymore, which was completed on time and on budget, brings additional production online without building a new standalone offshore platform.

Barrel

Oil & Gas 360º

MAY 2, 2025

(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. Upstream earnings increased by $1.1 billion from a year earlier to $6.8 Exxons net production jumped by 20% to 4.6

Basin

Egypt Oil & Gas

MARCH 23, 2025

(Shell Brasil), a subsidiary of Shell plc, announced that it has taken the Final Investment Decision (FID) for Gato do Mato, a deep-water project in the pre-salt area of the Santos Basin, offshore Brazil. Current estimated recoverable resource volumes of the Gato do Mato development are approximately 370 million barrels.

Upstream

Oil & Gas 360º

MARCH 10, 2025

(World Oil) – Africas national oil companies (NOC) are moving beyond operating as state-representatives by transforming themselves into competitive upstream players. Libyas NOC is working with IOCs Repsol, bp, TotalEnergies, ConocoPhillips and more to increase output to two million barrels per day (bpd).

E&P

Egypt Oil & Gas

APRIL 16, 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 (bbl/d) by the end of the decade, he added. Globally, bp expects to grow its upstream production between 2.32.5 The post bp Unveils New Oil Discovery at Gulf of America.

Sidetracking

Rextag

APRIL 16, 2025

The discovery comes amid BP's broader pivot away from rapid renewables expansion toward reinforcing its upstream oil and gas portfolio to meet investor expectations and improve financial performance. million barrels of oil equivalent per day globally by 2030, with approximately 1 million barrels expected from the U.S.

Oil

Oil Gas Leads

APRIL 29, 2025

Looking ahead, BP plans to drill around 40 exploration wells over the next three years , underscoring its ambition to expand its upstream production base. billion in reserve equivalent to $10 per barrel of oil price sensitivity. per barrel for 2025 , reflecting a cautious outlook while retaining operational agility.

Exploration and Production

Egypt Oil & Gas

APRIL 10, 2025

Malaysian Petroliam Nasional Berhad (PETRONAS) and Vietnam Oil and Gas Group (PETROVIETNAM) have signed a Key Principles Agreement (KPA) to extend the Production Sharing Contract (PSC) and the Upstream Gas Sales Agreement (UGSA) for the PM3 Commercial Arrangement Area (CAA) for an additional 20 years.

Exploration and Production

Oil Gas Leads

MARCH 14, 2025

million barrels per day (bpd) accounting for over 16% of the basins total production. Final Thoughts The Permian Basin remains a key pillar of ExxonMobils global energy strategy, alongside its offshore investments in Guyanas Stabroek Block. Unlocking the Permians Untapped Potential The Permian Basin remains a critical driver of U.S.

Basin

Rextag

MAY 8, 2025

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). The company noted that the output was in line with expectations, despite ongoing offshore development challenges (e.g.,

Exploration and Production

Oil & Gas 360º

APRIL 15, 2025

(NYSE: AMPY) (Amplify or the Company) today announced an amendment to the existing terms of its previously disclosed Agreement and Plan of Merger with Juniper Capitals (Juniper) upstream Rocky Mountain portfolio companies. Assuming WTI oil prices at $60 per barrel held flat and Henry Hub gas prices at $3.50

Energy

Rextag

FEBRUARY 24, 2025

Gulf of America (Mexico) Offshore Giant Making a Comeback 2023-2024 Overview The Gulf of America (Mexico) remains a cornerstone of U.S. offshore oil production, accounting for around 15% of total domestic crude output. Beacon Offshores Shenandoah Field: This project is another major deepwater initiative, targeting 0.12

Basin

Rextag

OCTOBER 31, 2024

Despite this trick rather than treat, ExxonMobil boosted production by 80,000 oil-equivalent barrels daily, driven by growth in the Permian Basin and Guyana. decline in revenue, CNOOCs strong output, especially from offshore China and the Payara project in Guyana, helped keep profits on a high note. Adjusted earnings reached $6.03

Midstream