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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.
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.
We anticipate a shift in the global exploration and production market, with offshore basins expected to play an increasing role in global oil production. Talos will invest in high-margin organic projects, complemented by disciplined, accretive bolt-on acquisitions in deepwater basins, which will enhance production and profitability.
(World Oil) –Chevron Corp. plans to lay off nearly 800 employees in the Permian basin, its biggest oil-production operation globally. Chevron is taking action to simplify our operating model, execute work faster and more effectively, the company said in a statement.
(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.
Date: July 2025 Ironwood Midstream Energy Partners LLC continues to strengthen its role in the Eagle Ford Shale with the operation and regulatory management of three significant pipeline permits in Karnes County, Texas. 10145 Liquids Common Carrier Eagle Ford Crude Line 30.59 10145 Liquids Common Carrier Eagle Ford Crude Line 30.59
(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.
District Court alleging that some of the nation’s largest oil producers have colluded in recent years to artificially increase the price of crudeoil. The New Mexican said defendants, including Permian operators, are Chesapeake Energy, Continental Resources, Diamondback Energy, EOG Resources, ExxonMobil, Hess Corp.,
billion in cash flow from operations in the first quarter, down from $14.7 Exxon reported on Friday first-quarter earnings of $7.7 billion, down from $8.2 billion in the first quarter of 2024. Earnings per share (EPS) slipped to $1.76 from $2.06, but beat the consensus estimate of $1.73. supermajor generated $13.0
from 2018-2022, a provider of integrated specialty industrial services with operations in over 20 countries. His earlier experience includes field operations, engineering, and human resources across North America, South Asia, and the Middle East. Gatti served on the Board of Helix Energy Solutions Group, Inc. from 2018-2024.
The Wink to Webster Pipeline, operated by ExxonMobil, stands out as the largest crudeoil pipeline by capacity exiting the prolific Permian Basin in West Texas.
Midland-based Permian Resources last week revised 2025 guidance after making a bolt-on acquisition in northern Delaware Basin. The deal adds about 100 new gross operated, two-mile locations that immediately compete for capital. Its expected to add 12,000 boed (45 percent oil) in 2025 second half. for $608 million. billion to $2.0
TIPRO reported a total of 49,798 unique job postings nationwide last month within the oil and natural gas sector, including 17,962 new postings. The leading three cities by total unique oil and natural gas job postings were Houston (2,064), Midland (546) and Odessa (398), said TIPRO. oil production is forecasted to average 13.4
The EPIC Crude Pipeline, which stretches from the prolific Permian Basin in West Texas to Corpus Christi, has operated above its original nameplate capacity for more than a year, with volumes rising in recent months. Owner EPIC Midstream in April sold its NGL pipeline to Phillips 66 for $2.2
(the Company or ReconAfrica) (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) (NSX: REC) announces an agreement for a joint exploration project in Angola with the Agncia Nacional de Petrleo, Gs e Biocombustveis or National Oil, Gas and Biofuels Agency (ANPG). ANPG is Angolas national concessionaire and regulator.
The Hacksaw CrudeOil Terminal, operated by EVX Midstream Partners, is a significant midstream infrastructure asset located in Tilden, McMullen County, Texas. Pipeline Connectivity : The terminal is connected to the Eagle Ford JV Pipeline, facilitating efficient transportation of crudeoil to downstream markets.
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
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.
The sum will be partly used to develop companies such as Akakus, which operates Sharara — Libya’s largest oil field — in a joint venture that includes TotalEnergies, Repsol SA, OMV AG and Equinor ASA as well as Libyan state companies. Waha Oil Co., Waha Oil Co., million daily barrels within a year, according to Seliman.
Ballymore is expected to produce up to 75,000 gross barrels of oil per day through three wells tied back three miles to the existing Chevron-operated Blind Faith facility. Chevron is a leading leaseholder in the Gulf and continues to actively pursue opportunities for growth in the basin. Malo facilities.
The new bid round has generated a lot of interest from foreign majors, Masoud Suleman, chairman of Libyas National Oil Corporation (NOC), told Reuters today. Libyas crudeoil production currently exceeds 1.4 Foreign majors have also made steps to return to operations in Libya. million barrels per day (bpd), NOC says.
(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. The remaining 50% of LACh is held by operator YPF S.A. billion USD.
Permian Resources Corporation, a leading pure-play operator in the Delaware Basin, has reported strong first-quarter 2025 financial and operational results and announced a strategic bolt-on acquisition of APA Corporations Northern Delaware Basin assets for $608 million. Realized Pricing: Oil: $70.48/bbl
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
(Oil Price) –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 in the industry. Currently, the Montney shale produces some 2 million barrels of oil equivalent daily.
(World Oil) – Africas national oil companies (NOC) are moving beyond operating as state-representatives by transforming themselves into competitive upstream players. mtpa Coral South FLNG project has been operating since 2022 while ExxonMobil plans to make FID on Rovuma LNG in 2026.
Enbridge operates the Mainline system, moving more than 3 million barrels a day of crudeoil and liquids from Western Canada to the demand markets in the United States. In total, Enbridge moves 40% of all North American crude. The company booked adjusted earnings of US$1.58 billion (C$2.2
shale producer Continental Resources has filed a lawsuit against Hess Corp alleging that it was defrauded out of up to $69 million through a series of deals the well operator conducted with its subsidiaries. Continental has been deprived of about $34 million to $69 million of revenue for oil and gas production, the filing said.
The Permian Basin continues to be a driving force behind U.S. oil and gas production, and ONEOK Inc. 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. Bcf/d in 2025.
The record $120 billion upstream M&A spending spree in 2024 focused on the consolidation of Permian Basin positions by the major U.S. publicly traded oil and gas companies.
ConocoPhillips provided significant insights into its Permian Basinoperations during its Q4 2024 earnings call, highlighting efficiency improvements, capital discipline, non-core asset sales, and potential growth opportunities tied to increasing U.S. Potential Impact of Tariffs and Permian Crude Pricing The potential U.S.
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. Specifically, the acquisition is accretive on an annualized basis to 2025 EBITDA by 10%, and cash flow from operations and free cash flow by 9%.
Under the PSC, Petrovietnam subsidiary Oil and Gas Exploration and Production Corporation (PVEP) holds 59 percent in the asset, Perenco holds 19.8 percent, Korea National Oil Corporation (KNOC) holds 11.4 The asset is one of the few blocks in Viernam that contains large-scale commercial oil and gas fields.
Phillips 66 is making big moves in the Permian Basin , a critical hub for U.S. During their Q4 2024 earnings call , the company outlined how strategic acquisitions, processing expansions, and pipeline investments will drive growth in their Midstream business and position them to capitalize on rising NGL and crude demand.
But even in the mighty Permian Basin, which turned the United States into the worlds biggest oil producer, resources eventually deplete. produced about 5 million barrels of crudeoil per day, down by half from the 1970s. Thats enough to cover operational risk, service debt and pay dividends.
crudeoil production grew by 270,000 barrels per day in 2024 to average 13.2 EIA said April 16 most of the growth came from Permian Basin. EIA reported, In 2024 the Permian region … produced more crudeoil than any other region, accounting for 48 percent of total U.S. crudeoil production.
The presenting company lineup as of June 18, 2025, includes: Advantage Energy (TSX: AAV) Amplify Energy (NYSE: AMPY) Anschutz Exploration Armstrong Oil & Gas APA Corp. The Company also owns non-operated interests in the Central Rockies, including the Denver-Julesburg Basin and the Powder River Basin.
existing net DUCs and permits with an average lateral length of ~9,500 feet PRO FORMA HIGHLIGHTS Approximately 85,700 net royalty acres in the Permian Basin; ~43% operated by Diamondback Pro forma Viper owns an average 1.8% per share based on the closing price of Viper common stock on June 2, 2025. billion which equates to less than 1.0x
national oil and gas rig count fell by seven to 547 for the week ending June 27, with oil rigs down six to 432 and natural gas rigs down two to a total of 109. In the Permian Basin, the rig count dropped by one to 270, well below the 305 active rigs a year ago, as oil prices experienced a steep decline for the week.
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. million b/d by 2035 assuming a real oil price of US$70 per barrel (WTI). million b/d.
Vertical Integration for Operational Efficiency U.S. midstream operators are increasingly adopting vertical integration to control the entire value chainfrom gathering and processing to transportation and export. Permian Basin: The Backbone of U.S. With expected crudeoil output increasing to 6.6
Crudeoil exports by Pemex, Mexicos state-owned petroleum company managed and operated by the Mexican government, fell 44 percent in January 2025 compared to the same month last year to 532,404 barrels per day. Thats its lowest in decades, according to Reuters , as the company has admitted it is struggling with crude quality.
Phillips 66 also saw weaker refining margins, particularly in the Gulf Coast and Atlantic Basin, though its $796 million in Q1 net income was buoyed by solid midstream and chemical performance. Delek US posted a deeper-than-expected net loss of $173 million, citing market softness and operational headwinds.
The combined company becomes the largest Canadian light oil focused producer and the seventh largest producer in the Western Canadian Sedimentary Basin, with significant natural gas growth potential. The combined company will continue to pay Whitecap’s annual dividend of $0.73
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