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Kenya hopes it will begin commercial crudeoil production and exports next year, Opiyo Wandayi, Cabinet Secretary for Energy and Petroleum, said on Monday, as companies are finalizing an asset sale and development project plans for an onshore resource basin.
oil-producing basin, the Permian, some areas have hit geological limits while others, yet to be drilled, are not expected to be as prolific as the prime Tier 1 acreage that producers have started to exhaust. To be sure, crudeoil output in the top basin continues to rise, but growth has slowed since 2022not only because producers
r basin in Turkeys southeast has a reserve of 6.1 billion barrels of shale oil, Turkish Energy and Natural Resources Minister, Alparslan Bayraktar, has said. Turkey's current annual (crude) oil import amounts to 365 million barrels. Continental Resources, the U.S. shale producer, has estimated that the Diyarbak?r
The Permian Basin has been the star of the U.S. shale oil and gas industry for years. It also has some rather solid crudeoil resourcesand some of the lowest production costs But this star is, at least for the time being, dimming as production costs rise with the natural depletion of top-quality acreage.
Texas Oil and Gas Association reported Monday record amounts of natural gas production in the state this year. Crudeoil production remained steady at 5.7 Europe received 61 percent of Texas LNG exports and 40 percent of crudeoil exports. total crudeoil production and 29.2 billion cfd. million b/d.
Onshore crudeoil production in U.S. Energy Information Administration, driven by growth in tight oil production in Permian Basin. Onshore production includes both legacy oil production primarily from vertically drilled wells and newer tight oil production primarily from horizontally drilled wells.
(World Oil) – Citing the latest Current Employment Statistics (CES) report from the U.S. This represented an increase of 600 jobs in the services sector and 1,600 jobs in oil and gas extraction. In May, Texas energy producers paid $411 million in oil production taxes, according to the Texas comptroller’s office.
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percent interest in Delaware G&P, Delaware Basin joint venture, from NGP XI Midstream Holdings for $940 million ($530 million cash). Delaware Basin JV owns natural gas gathering and processing facilities in Delaware Basin in west Texas and southeast New Mexico with total processing capacity of more than 700 million cubic feet per day.
(Oil & Gas 360) – Publisher’s Note: CanCambria will present an update on the Kiskunhalas project at EnerCom Denver – The Energy Investment Conference on August 17-20, 2025.
(World Oil) –Chevron Corp. plans to lay off nearly 800 employees in the Permian basin, its biggest oil-production operation globally. Chief Executive Officer Mike Wirth is looking to reduce structural costs by $3 billion, making the company more efficient and better able to withstand low oil prices.
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 crudeoils. billion, including the assumption of EAP’s debt.
(World Oil) –Rising Phoenix Capital, an investment firm specializing in oil and gas mineral royalty acquisitions, have announced a strategic purchase of mineral interests in Ector and Midland Counties, TX, operated by ConocoPhillips.
oil producer Continental Resources estimates there is a shale oil reserve of 6.1 billion barrels in Turkey’s southeastern Diyarbakir Basin, the Turkish energy minister said. Continental Resources and Turkish national oil company TPAO signed a joint venture agreement in March to develop shale fields in the basin.
(Oil & Gas 360) – Publisher’s Note: CanCambria Energy will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown , August 17-20, 2025. Register to attend. CanCambria Energy Corp. The area has no existing deep drilling and is largely unexplored, covered only by old 2D seismic.
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. Liquids” includes crudeoil and NGLs.
For the past 30 years, EnerCom Denver has been the largest independent investor conference for the global oil and gas and broadening energy industry that is open to all energy companies, investors, and professionals to participate. This year’s conference will occur August 17-20, 2025, at T he Westin Denver Downtown.
(Oil & Gas 360) – HOUSTON , June 17, 2025 /PRNewswire/ — Talos Energy Inc. (“Talos” or the “Company”) (NYSE: TALO) today announced its enhanced corporate strategy designed to position the Company as a leading pure-play offshore exploration and production company. Build a long-lived, scaled portfolio.
Viper is now clearly a must-own public mineral and royalty company in North America with attractive size and scale in the Permian Basin.” Sitio’s assets included 25,300 net royalty acres in the Permian Basin and 9,000 additional net acres in Eagle Ford, DJ and Williston basins.
( Oil & Gas 360) –THE WOODLANDS, Texas, April 01, 2025 (GLOBE NEWSWIRE) — Ring Energy, Inc. 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.
(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. million oil-equivalent barrels per day from Permian growth driven by the acquisition of Pioneer.
Energy Information Administration said April 10 the nations crudeoil exports reached a record in 2024. But despite the record, growth of crudeoil exports year-over-year slowed to 1 percent in 2024 compared with 14 percent in 2023 and 21 percent in 2022. Crudeoil production in U.S. crudeoil exports.
(Oil Price) –Libya will offer production sharing agreements to the successful bidders in its first oil and gas exploration bid round in 18 years, top Libyan oil officials said at an event in London on Monday. Libyas crudeoil production currently exceeds 1.4 million barrels per day (bpd), NOC says.
Major Basin Variances This Week +/- Ardmore Woodford 3 0 Arkoma Woodford 1 0 Barnett 2 0 Cana Woodford 20 2 DJ-Niobrara 5 0 Eagle Ford 40 -3 Granite Wash 14 -1 Haynesville 35 2 Marcellus 24 0 Mississippian 0 0 Permian 275 -3 Utica 12 0 Williston 31 0 All other regions saw no net change in the active rig count. The Permian is at 275, down 3.
(Oil & Gas 360) –April 17, 2025, Calgary, Alberta, Canada Reconnaissance Energy Africa Ltd. ReconAfrica has entered into a Memorandum of Understanding (MOU) with ANPG for a joint exploration project in the Etosha-Okavango basin, located onshore in southeastern Angola. ANPG is Angolas national concessionaire and regulator.
(Oil & Gas 360) –HOUSTON(BUSINESS WIRE) Chevron Corporation ( NYSE: CVX ) announced today that it started oil and natural gas production from the Ballymore subsea tieback in the deepwater Gulf of America. Chevron is a leading leaseholder in the Gulf and continues to actively pursue opportunities for growth in the basin.
Major Basin Variances This Week +/- Ardmore Woodford 3 0 Arkoma Woodford 1 0 Barnett 2 0 Cana Woodford 21 1 DJ-Niobrara 8 3 Eagle Ford 41 1 Granite Wash 13 -1 Haynesville 36 1 Marcellus 24 0 Mississippian 1 1 Permian 272 -2 Utica 12 0 Williston 31 0 All other regions saw no net change in the active rig count. The Permian is at 272, down 2.
(World Oil) – The media are reporting new predictions that oil production in America is in irreversible decline. Apparently, peak oil is back in vogue, like it’s 2005 instead of 2025. And nowhere is that dynamic clearer than in Texas, the powerhouse of American oil and gas. Previous inaccurate predictions.
(World Oil) –Vista Energy has acquired Petronas’ 50% stake in a region of the Vaca Muerta shale basin in a deal valued at $1.5 LACh spans across 46,594 acres in the black oil window of Vaca Muerta. billion USD. I firmly believe this represents a unique opportunity to create long-term value for our shareholders.
Civitas said May 8 that production guidelines this year remain at 330,000 boed and 152,500 barrels per day of crudeoil. First quarter production was 311,000 boed (down 14 percent from 4Q) and 141,000 b/d of oil (down 12 percent from 4Q) from its operations in Permian Basin and DJ Basin. billion to $1.9
(BOE Report) –NEW YORK (Reuters Breakingviews) Oil fields are just as quick to make fortunes as break them. The 1901 Spindletop gusher in Texas jumpstarted the petroleum age, crashing oil prices. produced about 5 million barrels of crudeoil per day, down by half from the 1970s. Twenty years ago, the U.S.
(Oil & Gas 360) – HOUSTON , May 16, 2025 / PRNewswire / — EOG Resources, Inc. ( EOG ) today announced that the company was awarded a new oil exploration concession for Unconventional Onshore Block 3 (UCO3) by Abu Dhabi’s Supreme Council for Financial and Economic Affairs (SCFEA).
The Hacksaw CrudeOil Terminal, operated by EVX Midstream Partners, is a significant midstream infrastructure asset located in Tilden, McMullen County, Texas. This expansion included the construction of three 5,000-barrel API 650 steel oil tanks, a 1,000-barrel slop oil tank, and a 750-barrel fiberglass water tank.
The pipelines carrying crudeoil from the Permian Basin in West Texas to the Corpus Christi area have been as jammed as an urban highway on the Friday before Memorial Day weekend.
(World Oil) – Africas national oil companies (NOC) are moving beyond operating as state-representatives by transforming themselves into competitive upstream players. Boosting production Major oil producers in Africa are striving to boost production and NOC-IOC collaboration is at the forefront.
Midland-based Permian Resources last week revised 2025 guidance after making a bolt-on acquisition in northern Delaware Basin. Its expected to add 12,000 boed (45 percent oil) in 2025 second half. First quarter production was 174,967 barrels of crudeoil per day and 373,200 boed. for $608 million. billion to $2.0
(World Oil) – Libyas oil and gas sector is set for a new era of growth and investment following the announcement of its first exploration bid round in 17 years. Momentum is already building across Libyas energy industry, with several upstream developments demonstrating the countrys renewed focus growth and investment.
Over the past 15 years, the Permian Basin has transformed the landscape of U.S. crudeoil production. While legacy vertical well production has declined, horizontal drilling in tight oil plays, particularly in the Permian, has fueled unprecedented growth. million b/d 19% – Tight Oil (Horizontal wells) 0.8
Texas produced 2.003 billion barrels of crudeoil 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.
Houston-based Plains All American Pipeline said recently it acquired the Permian Basincrudeoil gathering system of Black Knight Midstream. Chris Chandler, COO, said of the Black Knight asset, Its in the absolute core of the northern Midland Basin. The $55 million deal closed May 1.
(Oil Price) –This week, a private arbitration panel in London began hearing the arguments of U.S. supermajors ExxonMobil and Chevron regarding their rights to one of the worlds most lucrative oil projects. Guyana is now the third-largest per-capita oil producer in the world, according to the U.S. supermajor. supermajor.
crudeoil production next year. A combination of slowing global oil demand fueled by uncertainty over U.S. oil production later this year and could lead to an annual decline next year. The forecasts are included in the latest Global CrudeOil Markets Short Term Outlook.
Hess Bakken Investments, a Hess subsidiary, operates about 483 producing wells in the Williston Basin in which Continental owns a working interest. Hess Corp has a 38% interest in Hess Midstream, which owns oil, gas and produced water handling assets primarily in the Bakken and Three Forks shale plays, Continental said.
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