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enhancing its footprint in New Mexico’s northern Delaware Basin. The company is already in active trade talks with every relevant Delaware Basin operator , aiming to optimize both legacy and new assets. Permian Resources Corp. (PR) PR) has announced a $608 million bolt-on acquisition from APA Corp.
Over the past decade, we’ve seen techniques like Simul-Frac and Triple Frac become standard tools to accelerate completions. But now, Chevron is taking the next step—not just in how fast we frac, but in how smartly we do it.
Horizontal Drilling in Legacy Rock Blackbeard is proving that the Central Basin Platform still holds significant potential. Strategic Takeaways Reinventing Legacy Plays Blackbeard’s YTD well count shows confidence in a basin most considered depleted.
in Mechanical Engineering from the University of Alberta and has held previously roles at Sanjel Corporation, Zodiac Exploration, and Pinnacle Technologies, specializing in hydraulic fracturing in unconventional reservoirs. Gatti earned a degree in mechanical engineering from the University of Alberta, Canada. Ron holds a B.Sc.
Eco (Atlantic) Oil & Gas, an Atlantic Margin-focused oil and gas exploration company, has completed the farm-in agreement in the Orange Basin block, securing the
Brent Crude $78.03 +1.73% Natural Gas $4.04 +1.35% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS Petronas, MOL Form CO2 Transport JV by Jov Onsat | Rigzone Staff | Thursday, June 19, 2025 | 4:35 AM EST The partners already completed the front-end engineering design for a 62,000-cubic-meter LCO2 transport vessel.
Several major basins, including the Permian and Eagle Ford, recorded new lows. According to the latest Baker Hughes report, the total number of active rigs fell by 4 to 559, the lowest level since November 2021. Oil rigs drove the decline with a loss of 9, while gas rigs rebounded with a gain of 5. Here is a summary of the U.S.
New well permit activity in the Permian Basin is showing signs of a notable pullback in 2025. Permian Resources Minor activity reduction; fewer well completions planned due to capex discipline. Outlook While the Permian remains the engine of U.S. That’s a 15.9% oil production, the data signals a measured pullback in 2025.
(NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. The Company also owns non-operated interests in the Central Rockies, including the Denver-Julesburg Basin and the Powder River Basin.
Energy Information Administration (EIA) delivered a sobering update on the Eagle Ford Basin—once a crown jewel of U.S. The report underscores a clear pivot: natural gas production growth in the Eagle Ford is expected to stall and decline into 2026 , primarily due to fewer drilling and completion activities planned by operators.
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. Sources are cited in brackets.
As unconventional oil and gas development matures, operators continue to push the envelope in completion design and execution. Fewer rig moves, reduced idle equipment, and streamlined logistics mean more wells completed in less time. Engineers point to improved fracture predictability as a compelling advantage.
The Permian Basin continues to be a driving force behind U.S. Heres a breakdown of what was said about the companys investments and outlook for the basin. Heres a breakdown of what was said about the companys investments and outlook for the basin. oil and gas production, and ONEOK Inc. Bcf/d in 2025.
One of the most innovative approaches Coterra is utilizing is its ‘row developments’ strategy , particularly in the Permian Basin. Coterra’s operations in the Permian Basin leverage their highly contiguous acreage position to implement sizable and highly efficient projects known as row developments.
Devon Energys fourth quarter 2024 earnings call provided critical insights into the companys ambitious plans for the Delaware Basin, one of its crown jewel assets. Delaware Basin Overview The Delaware Basin continues to be the cornerstone of Devons oil and gas portfolio.
XRG, a subsidiary of Abu Dhabi National Oil Company (ADNOC), has completed the acquisition of Galps 10% interest in the Area 4 concession in Mozambique's Rovuma Basin
H&P drilling has completed 709 wells year-to-date, with the highest activity in Texas (404 wells) and New Mexico (177 wells). Permian Basin Dominance The majority of drilling is concentrated in the Permian Basin , reinforcing its position as the most active oil and gas play in the U.S. XTO Energy Inc. 128 OXY USA Inc.:
The Permian Basin is seeing output contraction and rig pullback despite being the top U.S. million bpd ( from 6.57 million bpd in March) Macro Commentary This marks the third consecutive weekly decline in rig activity, driven by oil price pressures and a strategic shift by operators toward shareholder returns over production growth.
In addition, the Company also provides initial results related to hydrocarbon production in the first quarter of 2025 (“Q1”)from its non-operated asset portfolio in theWilliston Basin,North DakotaandMontana,U.S.(the The internal technical evaluation of this well is now largely complete, prior to further review by a third party.
The Program Area consists of counties located in theWilliston Basin, although both parties may consider opportunities in otherRocky Mountainbasins upon mutual consent. The Transaction contemplated by the Agreement positions Zephyr to capitalise on a robust pipeline of opportunities across theWilliston Basin.
Chevron has begun scaling up a cutting-edge well completion strategy known as triple-frac , which fractures three wells at the same time. Traditional fracking completes one well at a time (single-frac), and in recent years, many operators have adopted dual-frac (two wells simultaneously) to improve efficiency. What Is Triple-Frac?
The Permian Basin, in particular, saw a notable drop, reaching its lowest rig total since February 2022. While Oklahoma, New Mexico, and several other key states held steady in drilling activity, the national rig count dipped againdriven largely by a sharp decline in natural gas rigs.
Image by AvigatorPhotographer via iStock NextDecade Corporation said its subsidiaries have finalized a pricing refresh of the company’s lump-sum, turnkey engineering, procurement and construction (EPC) contract with Bechtel Energy Inc. billion to $2.0
Despite reducing its full-year capital expenditure guidance by $200 million and cutting domestic operating costs by $150 million in Q1 2025, Oxy continues to maintain and even expand its drilling footprint in the Permian Basin. Permit Growth Defies Budget Cuts H1 2024 Permits : 316 H1 2025 Permits (actual + forecast) : 387 This marks a 22.5%
Project Overview: Hugh Brinson Pipeline The Hugh Brinson Pipeline, previously referred to as the Warrior Pipeline, is designed to transport natural gas from the Permian Basin to key downstream markets in Texas and Louisiana. The pipeline is expected to ease transportation bottlenecks in the Permian Basin and support growing U.S.
(NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. The Company also owns non-operated interests in the Central Rockies, including the Denver-Julesburg Basin and the Powder River Basin. www.vitesse-vts.com
crude production to hit record highs for the next two years before plateauing later in the decade. Gas drillers, in particular, may ramp up activity if prices rebound as expected in 2025.
Rig Count Drops Again But Production Still Forecast to Rise For the week ending May 16: U.S. bpd in 2024 to 13.4M bpd in 2025 Gas production: Expected to increase to 104.9 bpd in 2024 to 13.4M bpd in 2025 Gas production: Expected to increase to 104.9 bpd in 2024 to 13.4M bpd in 2025 Gas production: Expected to increase to 104.9
Overall Rig Count : Total U.S. rig count held relatively steady this week, with only a modest overall decline. As commodity prices and demand forecasts continue to evolve, rig count trends will remain a key indicator to watch for future production shifts. Rig Count Rises Baker Hughes appeared first on Oil Gas Leads.
This subtle shift highlights a maturing basin where efficiency and operator selectivity are becoming more prominent. As natural gas prices remain volatile and operators focus on capital discipline, expect drilling strategies to continue evolving across East Texas and North Louisiana.
upstream growth, driven by advantaged assets like the Permian Basin, is central to the companys long-term performance. The term advantaged is used repeatedly in the earnings release not as corporate jargon, but as a meaningful lens into ExxonMobils capital allocation and earnings engine. upstream earnings jumped to $1.87
You are probably aware that the water problem in the Permian Basin is direit is the desert, after all. Disposal of produced water in the past was largely a matter of just pumping it back down underground, as is seen in the proliferation of SWDs (Salt Water Disposals) that dot the landscape in the Permian Basin. Not even on eBay.
Engineering and Construction : The project was executed on a fast-track basis, with engineering, procurement, and construction services provided by Sargent & Lundy. The entire expansion was completed within six months, from January to May 2018.
What Devon Said About Drilling, Rigs, and Completions Devons capital activity in the first quarter averaged 23 operated drilling rigs and 6 completion crews… 136 gross operated wells were placed online, with an average lateral length of 10,700 feet. per Boe, total production cost at $12.42
“The first quarter unfolded largely as we anticipated, with steady drilling activity and a strong sequential rebound in completion demand,” said Andy Hendricks , CEO. In Completion Services, the company expanded its Emerald line of 100% natural gas-powered assets , contributing to 80% of its active fleet being gas-capable.
(NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. The Company also owns non-operated interests in the Central Rockies, including the Denver-Julesburg Basin and the Powder River Basin.
(NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. The Company also owns non-operated interests in the Central Rockies, including the Denver-Julesburg Basin and the Powder River Basin. www.vitesse-vts.com
(NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. The Company also owns non-operated interests in the Central Rockies, including the Denver-Julesburg Basin and the Powder River Basin. www.vitesse-vts.com
(NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. The Company also owns non-operated interests in the Central Rockies, including the Denver-Julesburg Basin and the Powder River Basin. www.vitesse-vts.com
(NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. The Company also owns non-operated interests in the Central Rockies, including the Denver-Julesburg Basin and the Powder River Basin. www.vitesse-vts.com
(NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. The Company also owns non-operated interests in the Central Rockies, including the Denver-Julesburg Basin and the Powder River Basin. www.vitesse-vts.com
With improving natural gas prices and a reinforced drilling program, the company is clearly positioning itself as a cost-efficient, technologically adept player in one of North America’s premier gas basins. Mcf before hedging, $3.52/Mcf Mcf after Total revenue: $512.9 million (up from $335.8M Midstream CapEx: $48.7M G&T: $0.37
Regional drilling activity remains mixed, with the Permian Basin and Eagle Ford experiencing slight declines, while other areas such as Oklahoma and Louisiana are showing growth. Regional Breakdown : Permian Basin : Declined by 1 rig to 300, down by 15 rigs compared to last year. Natural gas output is forecasted to reach 105.2
Texas and New Mexico, the largest basins, remain flat week-over-week. Broader rig activity remains soft overall , signaling cautious capital spending amid uncertain commodity prices and tariffs.
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