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In collaboration with the NOC, TotalEnergies has achieved a 20% increase in production at the Waha field; Repsol plans to drill nine new prospects in 2025; while Eni is planning four exploration wells in 2025. Unlocking new E&P markets A slate of discoveries in recent years have opened up new oil and gas plays across the continent.
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. The development of its north Jalo field alone would add 100,000 barrels. Waha Oil Co.,
His earlier experience includes field operations, engineering, and human resources across North America, South Asia, and the Middle East. The Company also owns non-operated interests in the Central Rockies, including the Denver-Julesburg Basin and the Powder River Basin. from 2018-2024.
Once the prospective area is fully interpreted, a resource assessment will be conducted to support the addition of new well locations to the field development plan (FDP). This basin adds several new exploration targets to the portfolio, with the potential to hold several undiscovered hydrocarbon accumulations of potential scale.
Large public E&Ps are consolidating premium inventory in core regions like the Permian, where high-quality assets are scarce and valuations are steep. Smaller deals are still occurring, particularly in conventional plays and areas outside major basins. This concentration underscores a broader trend.
The legacy system, owned and operated by a third party, experiences approximately 25% Field Loss and Unaccounted For (FL&U) gas, leading to substantial financial and environmental impacts. (Oil & Gas 360) –MIDLAND, TexasApril 29, 2025. New Era Helium, Inc. Additional updates will be provided in the coming weeks.
(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.
Wood Mackenzie noted in its release that ExxonMobil found over eight billion barrels of new field resources on a net equity basis since 2015, which it said is more than any other company over the decade. The most successful explorers must embrace greater risks to open up new plays and basins that promise greater resources,” he added.
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.
The three Permian basin districts7C, 8 and 8Acomprised 67.3% The total includes 613 to drill new oil or gas wells, 15 to re-enter plugged wellbores, 5 field transfers, 1 reclass and 62 for re-completion. The distribution of wells in these categories was roughly the same in March, as it was in January. in February, 72.4% in March 2024.
Perhaps all four are at work today in the wireline industry in the Permian Basin, but certainly the fourth factor—consolidation—is making itself felt. Pintail is headquartered in Midland and is a leading provider of wireline services in the Permian Basin. It’s been a momentous 2025 for the wireline niche. on April 15.
(BOE Report) –NEW YORK (Reuters Breakingviews) Oil fields are just as quick to make fortunes as break them. A mere two years later, over-extraction drove the field into decline. But even in the mighty Permian Basin, which turned the United States into the worlds biggest oil producer, resources eventually deplete.
While liquid yields will vary across the field area and in time as the reservoir pressure drops during field production, the overall elevated liquid yields are expected to be a significant driver of enhanced project economics. With the publication of this announcement, this information is now considered to be in the public domain.
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 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 With the publication of this announcement, this information is now considered to be in the public domain.
In particular, Viaro will prioritise the development of the Selene discovery – one of the largest gas fields in the UK Southern North Sea in the past decade. The transaction reflects our commitment to advancing key developments responsibly and with the continuity they require.
He is a proven and disciplined dealmaker who brought Ecopetrol into the unconventional Permian basin in the U.S. He is a proven and disciplined dealmaker who brought Ecopetrol into the unconventional Permian basin in the U.S. in partnership with Oxy a project that grew from 0 to ca. and the U.K.,
Infrastructure constraints , especially in remote fields like Sunrise, Altares, and Town. Whether youre a directional driller, frac crew, water hauler, or E&P investor knowing where the backlog is can be the key to targeting the right accounts and fields for the months ahead.
The Permian basin has become one of the most productive oil fields in the world, Fig. Additionally, there’ve been reports that the Permian basin holds more than 230 Bbbl of oil and 600 Tcf of natural gas. Who’s to say it won’t happen again in the face of these new predictions of peak oil? The Texas success story.
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% at closing at strip pricing and decreasing thereafter; near-term net debt target of $1.5 mboe/d) Approximately 16.1
Ballymore is an example of how we are leveraging technology and driving efficiencies to help produce affordable, reliable energy from the deepwater Gulf of America, one of the lowest carbon intensity oil and gas producing basins in the world, said Brent Gros, Vice President of Chevron Gulf of America. owning the remaining 40%.
The discovery “involved a small quantity that was initially seen as commercially unattractive to develop into a production field”, Staatsolie said. Paradise Oil Co. NV, a subsidiary of Suriname’s state-owned Staatsolie Maatschappij Suriname NV, owns 20 percent.
The flurry of merger and acquisition (M&A) activity over the last two years has changed the minerals landscape in the Permian Basin, along with most producing basins in the United States. Regarding the bolt-ons and consolidation of acreage, Lee noted that Ovintiv recently divested its Uinta Basin assets in order to buy others.
Upstream: Activities: Upstream refers to the exploration and production (E&P) phase of the oil and gas industry. Assets: Upstream assets include oil and gas fields (land and mineral rights), drilling rigs, production platforms, and wells. It also includes the distribution and sale of these products to consumers.
Our combined company will include exceptional technical and support personnel from the two companies in both the office and field and an experienced Board of Directors that prioritizes sustainable and profitable growth to generate strong returns for our combined shareholders. .”
poised to expand LNG export capacity , interest in gassy basins has surged. Magnolia Oil & Gas: All Eyes on Giddings Magnolia has committed heavily to its Giddings Field assets, which are centered in the Austin Chalk. The field accounted for 77% of the companys Q4 2024 production, averaging 71,800 boe /d. Bcf/d by 2026.
production increased versus the prior year, due to: Increased output from existing fields Higher ownership from new transactions in U.S. shale basins. shale basins. Strong contributions came from the Permian, Williston, Uinta, and Appalachian basins. TWh , the same as Q1 2024. Boe, with cash G&A at $0.87/Boe
poised to expand LNG export capacity , interest in gassy basins has surged. Magnolia Oil & Gas: All Eyes on Giddings Magnolia has committed heavily to its Giddings Field assets, which are centered in the Austin Chalk. The field accounted for 77% of the companys Q4 2024 production, averaging 71,800 boe /d. Bcf/d by 2026.
Initially reliant on manual calculations and empirical methods, the field evolved dramatically with the introduction of digital computing in the mid-20th century. Building and refining type curves across an asset or basin can take weeks. Type curves flatten that complexity, often leading to optimistic or misleading forecasts.
million barrels a day, more than Saudi Arabia and Iran combined, and companies in its shale basins have a unique ability to ramp up output quickly — within about 6 to 9 months — with the right oil-price incentive. West Texas Intermediate declined 4% at 12:47 p.m. in New York to $71.92 a barrel, after an earlier rally faded. produces about 13.4
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