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There’s been a surge in E&P interest in the Utica Shale’s volatile oil window the past couple of years, and EOG Resources has been particularly optimistic about its potential for producing large volumes of condensate, the lightest of superlight crude oils. billion, including the assumption of EAP’s debt.
The report examines the effects on AECO hub gas pricing, the Canadian benchmark price for natural gas, from what is expected to be exceptional levels of condensate-directed Montney drilling in the coming years. The good news is that prices for condensate produced by many operators alongside natural gas volumes will likely be quite robust.
Covering 30% of the KCA to the north, there exists a large, deep Miocene-age basin named the Soltvadkert Trough, which is analogous in many respects to the petroleum play elements in the Kiskunhalas Trough. The area has no existing deep drilling and is largely unexplored, covered only by old 2D seismic.
(NYSE American: REI) (Ring or the Company) announced that it has completed its previously-announced acquisition (the Transaction) of the Central Basin Platform (CBP) assets of Lime Rock Resources IV, LP (Lime Rock) on March 31, 2025. ABOUT RING ENERGY, INC. Ring Energy, Inc. For additional information, please visit www.ringenergy.com.
Post-acquisition, EOG becomes one of the largest producers in the Utica, with pro forma daily production of 275,000 Boe. “This acquisition creates a third foundational play for EOG alongside the Delaware Basin and Eagle Ford, enhancing the quality, scale, and resilience of our multi-basin portfolio,” said Ezra Y. Why the Utica?
A major basin variances subcategory included in Baker Hughes’ rig count showed that, week on week, the Eagle Ford and Permian basins each dropped three rigs, the Granite Wash basin dropped one rig, and the Cana Woodford and Haynesville basins each added two rigs. In the research note, the J.P.
It is located adjacent to CanCambrias existing Ba-IX mining license (32,500 acres), creating a consolidated, contiguous position within the Pannonian Basin, a mature and historically productive region in southern Hungary. The newly awarded Kiskunhalas Concession Area covers an area of 945.9
Lets look at some of the key highlights: Anticipate a rise in oil production within the Western Canada Sedimentary Basin (WCSB). Explore the impact of increased oil sands production on the Canadian condensate and AECO gas markets. However, this increased demand for condensate will also have implications for AECO hub gas pricing.
In a new white paper titled What Remains: North American Upstream Inventory, energy private equity firm Kimmeridge outlines which shale basins have the best runway for returns over the next 10 yearsand why the spotlight is now turning to Canada. Light Oil & Condensate: Production is rich in high-value hydrocarbons.
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.
Elevated condensate-yields were observed (in a range of 60-200 barrels of oil (“bo”) per million standard cubic feet (“mmscf”) with an 85 bo/mmscf average). With the publication of this announcement, this information is now considered to be in the public domain. the “Paradox project”).
TSXV: CCEC ) ( FSE: 4JH ) is pleased to announce that it has been granted its first drilling permit from the Hungarian Mining Directorate for the CC- Ba-E-2 appraisal well at its 100% owned Kiskunhalas tight gas project in Hungarys Pannonian Basin. (Oil & Gas 360) – CanCambria Energy Corp.
In May XRG said it had obtained a 38 percent stake in the Block I gas and condensate fields on Turkmenistan’s side of the Caspian Sea. In March XRG said it had completed the purchase of Galp Energia SGPS SA’s 10 percent stake in the Area 4 concession in Mozambique’s Rovuma Basin.
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 Gross Recoverable Condensate (MMBC) 3.5 Net Recoverable Condensate (MMBC) 2.7
A Multi-Pronged Strategy to Sustain Growth Beyond Tight Oils Crown Jewel The transformation of the United States into a global energy powerhouse over the past two decades is inseparable from the fracking-led renaissance of the Permian Basin. Although the pace of growth is clearly slowing, the basin still offers significant upside potential.
Strategic Asset Base and Production Outlook The combined company now holds a high-quality, light oil and condensate-weighted portfolio with 1.5 Montney Formation: A Core Growth Basin The Montney formation, spanning Alberta and British Columbia, holds an estimated 449 Tcf of gas, 14.5 which recently sold its Montney assets.
The Low-Temperature Separator (LTS): The now frigid, two-phase stream (gas and condensed liquids) enters the LTS. In this vessel, the temperature is low enough that the heavier hydrocarbon components (the NGLs like propane, butane, and pentane) and any water vapor have condensed into a liquid state.
Pemex produced crude oil and condensate of 1.62 appeared first on Permian Basin Oil and Gas Magazine. Pemex CEO Victor Rodriguez said recently that the company had a temporary problem with too much salt and water in its crude oil, which drew complaints from customers. million b/d in January 12 percent less than a year ago.
The transaction will create a leading Canadian light oil and condensate producer, with a dominant position in the Alberta Montney and Duvernay formations, as well as significant operations in Saskatchewan. (TSX: VRN) have announced a strategic all-share merger valued at approximately $15 billion, including net debt.
580,000 BOE/d Includes 210,000 b/d oil and condensate Tourmaline Oil Corp. Heres a clean summary of 2024 Canadian oil and gas production by company Top Producers (Over 500,000 BOE/d) Company 2024 Average Production Notes Canadian Natural Resources (CNRL) 1,363,496 BOE/d Record production Ovintiv Inc. 102,012 bbl/d (bitumen) SOR of 2.39
. (“Whitecap”) (TSX: WCP) and Veren Inc. (“Veren”) (TSX: VRN) (NYSE: VRN) are pleased to announce a strategic combination to create a leading light oil and condensate producer with concentrated assets in the Alberta Montney and Duvernay.
billion in organic growth projects, including an eighth fractionator at Mont Belvieu NGL Complex and a new processing plant in the Permian Basin. Our condensed report focuses only on updated metrics, new initiatives, and achievements specific to 2023. The acquisitions, totaling $8.6 Also invested $1.6
This acquisition combines large, premier acreage positions in the Utica, creating a third foundational play for EOG alongside our Delaware Basin and Eagle Ford assets, said Ezra Y. Yacob, Chairman and Chief Executive Officer of EOG.
From the Permian Basin to the Gulf Coast, companies are pushing the boundaries of efficiency, reliability, and environmental responsibility. The dew point is the temperature at which water vapor and heavy hydrocarbons contained in a gas will condense into a liquid form at a given pressure.
Removing NGLs prevents condensation and two-phase flow issues, protects downstream equipment, and ensures a consistent heating value of the sales gas. This process chills the inlet natural gas stream to extremely low temperatures, causing NGLs to condense and separate from the methane-rich gas.
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