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.

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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.

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Oil & Gas 360º

APRIL 3, 2025

Cypre is one of BPs 10 major projects expected to start up worldwide between 2025 and 2027, announced as part the reset strategy to grow upstream production. In the upstream, BP will aim for 10 new major projects to start up by the end of 2027, and a further 810 projects by the end of 2030. Production is also expected to grow to 2.32.5

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BOE Report

MARCH 12, 2025

million barrels of oil equivalent per day in 2030, up from 4.3 million boepd now, the company’s president of upstream said on Wednesday. Exxon Mobil expects to raise output to 5.4 The production areas that the company is focused on for growth are Guyana, top U.S.

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BOE Report

MAY 2, 2025

Quarterly net income of $1,288 million Cash flows from operating activities of $1,527 million and cash flows from operating activities excluding working capital1 of $1,760 million Quarterly Upstream production of 418,000 gross oil-equivalent barrels per day Kearl quarterly production of 256,000 total gross oil-equivalent barrels per day (181,000 barrels (..)

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Oil & Gas 360º

MARCH 4, 2025

Last week, BP said that it is increasing its investment in upstream oil and gas to $10 billion per year while slashing spending on clean energy by more than $5 billion a year in the highly anticipated strategy reset. million barrels of oil equivalent per day (boed) in 2030, with capacity to increase to 2035.

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Global Energy

OCTOBER 21, 2016

to 4 million barrels per day by […] Iran is said to be targeting an increase in oil production from 3.85

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Oil & Gas 360º

MARCH 26, 2025

This is an enormous opportunity as we grow bps oil and gas business and fully aligned with our strategy of strengthening our upstream portfolio. The agreement is for an initial phase that includes oil and gas production of more than 3 billion barrels of oil equivalent.

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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. This reduces our development costs and is expected to drive higher returns for shareholders.

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Rigzone: News

JANUARY 15, 2025

Nigeria's upstream regulator is aiming for an oil production of at least 2.1 million barrels a day for 2025.

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Oil & Gas 360º

MAY 15, 2025

World oil demand rose by 990,000 barrels per day (bpd) in the first quarter of 2025. On Wednesday, OPEC also cut its forecast of liquids supply from OPEC+s rivals including the United States, due to lower upstream spending amid falling oil prices. Due to the decline in oil prices and signals from the U.S.

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Oil & Gas 360º

MAY 8, 2025

Gulf Coast refiners processing Mars crude enjoying a doubling of margins to some $16 per barrel, $7 margins in Singapore for Dubai crude, and a 36% margin jump in Asia for Arab Light crude.

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Rigzone

JUNE 20, 2025

Ahara marks QatarEnergy’s entry into Algeria’s upstream sector, QatarEnergy said separately. Algeria contributed 154 million cubic feet a day of gas and 21,000 barrels per day of liquids to TotalEnergies’ 2024 production, according to the company’s annual report.

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Oil & Gas 360º

MAY 2, 2025

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

JUNE 10, 2025

said its subsidiary has signed an agreement to sell its wholly owned subsidiary Gran Tierra North Sea Limited (GTNSL) to private upstream company NEO Energy for $7.5 The combined wells have an average oil production rate over 30 days of around 1,684 barrels of oil per day from the U-Sand formation.

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Egypt Oil & Gas

MARCH 23, 2025

According to the companys statement, the development plan includes the installation of a floating production storage and offloading (FPSO) vessel and is designed to produce up to 120,000 barrels of oil per day (b/d).Current Current estimated recoverable resource volumes of the Gato do Mato development are approximately 370 million barrels.

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Valor

JUNE 16, 2025

Oil prices fall more than $1 barrel on reports Iran seeks truce with Israel Summary : Oil prices fell 1.3% The system shares data with Texas’ Utilities Commission to identify critical infrastructure under SB 3/HB 3648 laws, linking upstream production to power plants. Stay tuned for weekly updates to keep you well-informed.

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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

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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.

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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).

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Iraq Business News: Oil & Gas

APRIL 21, 2025

Each of the new contracts has a three-year term under which Wood will support TotalEnergies to advance the Associated Gas Upstream Project (AGUP) , a key part of the GGIP project.

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Egypt Oil & Gas

MARCH 25, 2025

It said also that it will grow its top line production across our combined Upstream and Integrated Gas business by 1% per year to 2030, sustaining the 1.4 million barrels per day (mmbl/d) of liquids production to 2030 with increasingly lower carbon intensity.

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Egypt Oil & Gas

MARCH 27, 2025

bp has a decades-long history in Iraq, and we look forward to building on this as we embark on our next chapter of production in the country Murray Auchincloss, chief executive officer This is an enormous opportunity as we grow bps oil and gas business and fully aligned with our strategy of strengthening our upstream portfolio.

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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.

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Oil Gas Leads

JUNE 4, 2025

A Strategic Fit: Scout Energy & High River Resources Scout Energy Management LLC Established in 2009 and headquartered in Dallas, Scout Energy Management LLC is a private energy investment manager specializing in the acquisition, operation, and enhancement of upstream energy assets and associated midstream infrastructure.

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Rextag

JANUARY 9, 2025

ADJUSTED PRODUCTION AND VOLUME FORECASTS Shell also reduced its integrated gas production outlook for the fourth quarter to 880,000 and 920,000 oil-equivalent daily barrels, citing scheduled maintenance at a Qatar-based facility. This represents a decrease from the previous guidance of 900,000 to 960,000 daily barrels. million barrels.

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Rextag

MAY 19, 2025

The 550-mile Grand Mesa pipeline originates in Weld County, CO, and terminates at Cushing, OK, providing up to 150,000 barrels per day of crude takeaway capacity. The company focuses on product procurement, logistics, and price risk management, backed by long-term partnerships with upstream gas liquids producers. refining network.

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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.

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Rigzone

JUNE 6, 2025

“These agreements represent progress against BP’s strategy to grow long-term shareholder value, contributing to its goal of growing its upstream business, as well as underlining BP’s continuing commitment to Azerbaijan,” BP continued.

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Oil Gas Leads

JUNE 11, 2025

private) (N/A – private; high gas focus) (N/A – private) ~7–9 rigs in Oklahoma (2025) (21 wells drilled in 2023) Note: MBOE/d = thousand barrels of oil equivalent per day. Ward, is an upstream LP focused almost entirely on the Mid-Continent. Liquids” includes crude oil and NGLs. CapEx = capital expenditures.

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Operator Gas Oil Basin 52

Oil Review Middle East

APRIL 21, 2025

The aim is to debottleneck and upgrade existing facilities to increase energy production capacity to 120,000 barrels of oil per day on completion of the first phase. Wood is already providing engineering design, detailed design, procurement support, and construction and commissioning assistance for the first phase of the AGUP.

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Oil Gas Leads

APRIL 21, 2025

Production and Capital Investment Looking ahead, Cenovus forecasts an upstream production range of 805,000 to 845,000 barrels of oil equivalent per day (BOE/d) for 2025, representing a 4% increase compared to 2024 Cenovus Energy. which have been instrumental in executing Cenovus’s drilling programs. billion to $5.0

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Rextag

JUNE 2, 2025

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). million b/d by 2035 assuming a real oil price of US$70 per barrel (WTI). million b/d. million b/d of production before reaching a plateau of 7.7

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The Energy Law

MARCH 15, 2023

Specifically, the lessors discovered that the lessees sold oil under contracts that calculated the sales price by taking an index price at market centers downstream from the point of sale and subtracting eighteen dollars per barrel for the purchaser’s anticipated post-sales costs.

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Oil Gas Leads

MARCH 14, 2025

million barrels per day (bpd) accounting for over 16% of the basins total production. CERAWeek 2025 Insights ExxonMobils expansion in the Permian Basin took center stage during CERAWeek 2025 , where executives highlighted how technology is reshaping operations to maximize efficiency and production. energy production, contributing 6.26.3

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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

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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). BP achieved upstream plant reliability of 95.4%, one of its best on record, and refining availability at 96.2%. billion, down from $10.3

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Exploration and Production Energy Energy Basin 40