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Unlocking new E&P markets A slate of discoveries in recent years have opened up new oil and gas plays across the continent. Unlocking new E&P markets A slate of discoveries in recent years have opened up new oil and gas plays across the continent. Algerias Sonatrach will increase hydrocarbon production by 2.5%
plans to lay off nearly 800 employees in the Permian basin, its biggest oil-production operation globally. (World Oil) –Chevron Corp. The bulk of the reductions will come from Chevrons Midcontinent campus on the outskirts of Midland, Texas, the company said in a filing with the Texas Workforce Commission.
(World Oil) – Elk Range Royalties has announced a landmark acquisition of a significant mineral and royalty position spanning approximately 250,000 net royalty acres (NRA) in the DJ Basin from affiliates of Occidental Petroleum (Oxy). In February 2025, NGP and the Elk Range team established Elk Range Royalties III.
(World Oil) –Crescent Energy has closed the sale of its non-operated Permian basin assets to a private buyer for $83 million in cash, the company announced Tuesday. The assets are located in Reeves County, Texas and had projected full-year 2025 production of approximately 3 Mboe/d (~35% oil).
This landmark transaction marks the largest single acquisition in the companys 45-year history and significantly expands its total Permian Basin holdings. (Oil & Gas 360) ~20,000 net acres Significant multi-bench drilling inventory Upsize of USEDCs syndicated revolving credit facility led by Citibank, N.A. oil and gas properties.
www.petrie.com Vitesse Energy Vitesse is a Denver-based company focused on returning capital to stockholders through owning and acquiring predominantly non-operated working interests in oil and gas properties in the Williston Basin of North Dakota and Montana. Your participation makes a real difference. Conference Dates: August 17–20, 2025.
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.
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. However, this surge was largely driven by a single player: Diamondback Energy.
(Oil & Gas 360) – Earlier this month, EnerCom met with CanCambria Energy CEO Paul Clarke, PhD, to talk about how the company could transform natural gas markets in Europe through CanCambrias Kiskunhalas drilling project in the Pannonian tight gas basin.
www.petrie.com Vitesse Energy Vitesse is a Denver-based company focused on returning capital to stockholders through owning and acquiring predominantly non-operated working interests in oil and gas properties in the Williston Basin of North Dakota and Montana. Conference Dates: August 17–20, 2025. Benefitting IN!
(Nasdaq: PROP) (the “Company” or “Prairie”), an independent energy company engaged in the development and acquisition of oil and natural gas resources in the Denver-Julesburg (DJ) Basin, today announced the reaffirmation of its multi-year Reserve-Based Lending (“RBL”) credit facility with Citibank, N.A., its lead arranger.
Aethon Energy is a private investment firm focused on asymmetric opportunities in onshore energy assets in North America, and has sprawling operations in the Haynesville shale gas basin in East Texas and Louisiana. Mitsubishi is said to be ready to pay up to $8 billion for Aethon’s assets, Reuters reported this week, citing unnamed sources.
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) – Permian Resources has reached an agreement to buy core assets in the Delaware basin from Apache parent company APA Corp. The deal, valued at $608 million, includes 13,320 net acres, 8,700 net royalty acres and 12,000 Boe/d directly offset Permian Resources core New Mexico operating areas.
(Oil Price) – Chevron will boost the so-called triple fracs fracturing three wells with one frac spread at one time to more than half of its wells in the Permian basin, a Chevron executive told Reuters , amid efforts to reduce the costs and times of fracking at the worlds top shale basin.
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. Register to attend. CanCambria Energy Corp. The CanCambria model of applying new technology is key to unlocking this area.
(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. Exxon reported on Friday first-quarter earnings of $7.7 billion, down from $8.2 billion in the first quarter of 2024.
The Midland company is a leading provider of oilfield wireline services in the Permian Basin. Pintail operates more than 30 active fleets and maintains relationships with blue chip E&P companies (exploration and production) by delivering service, safety, low emissions and fuel cost efficiencies.
(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.
New Era Helium, Inc. These estimates reflect the Companys production and does not take into account the remaining volumes that are gathered and treated by this aging system each day. The Company is also working closely with the New Mexico State Land Office to ensure alignment with regulatory standards. Will Gray II, CEO of New Era Helium, Inc.,
Hess Bakken Investments, a Hess subsidiary, operates about 483 producing wells in the Williston Basin in which Continental owns a working interest. (BOE Report) – U.S. As a result, Continental said, it and other non-operating working interest owners in those wells bear a larger financial burden than Hess for midstream fees.
He is a proven and disciplined dealmaker who brought Ecopetrol into the unconventional Permian basin in the U.S. This appointment follows the decision of Andrs Ocampo to step down for personal reasons. in partnership with Oxy a project that grew from 0 to ca.
Diamondback set a record in the Permian Basin with its acquisition of Double Eagle IV. The private equity sponsored E&P was able to garner such a large premium for its land because high consolidation over the last few years has left few attractive private companies for the public E&Ps to target.
Diamondback set a record in the Permian Basin with its acquisition of Double Eagle IV. The private equity sponsored E&P was able to garner such a large premium for its land because high consolidation over the last few years has left few attractive private companies for the public E&Ps to target.
Spirit O&G’s acquisition marks a strategic move into mature Permian Basin acreage , consistent with its proven model of optimizing legacy production assets. The PBR status and Permian Basin location make it a strategic fit for Spirit’s PDP-focused operating model. miles on US-87 N, turn right, continue 0.4
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.
(Oil & Gas 360) – April 22, 2025 – For over 25 years, global petroleum consultancy Netherland, Sewell & Associates, Inc. NSAI) has hosted its highly regarded Oil & Gas Property Evaluation Seminar. NSAI is pleased to announce it is hosting a two-day session in Dallas on May 5 th and 6 th.
(Oil & Gas 360) – April 22, 2025 – For over 25 years, global petroleum consultancy Netherland, Sewell & Associates, Inc. NSAI) has hosted its highly regarded Oil & Gas Property Evaluation Seminar. NSAI is pleased to announce it is hosting a two-day session in Dallas on May 5 th and 6 th.
The assets, which comprise operations in the Anadarko basin that spans about 300,000 net acres, are expected to fetch a price of more than $1 billion, the sources said, requesting anonymity as the deliberations are confidential. billion takeover of Marathon Oil last year, people familiar with the matter said.
Diamondback is one of the largest players in the Permian Basin, second only to Exxon Mobil, based on gross operated oil volumes. [1] billion deal represents one of the last significant private positions in the Midland Basin and leaves very few remaining opportunities for mid-sized operators to acquire high-quality inventory. [1]
Zephyr’s flagship asset is an operated 46,000-acre leaseholding located in theParadox Basin,Utah, 25,000 acres ofwhich has been assessed to hold, net to Zephyr, 2P reserves of 2.6 is expected to conclude in the coming days with initial test results available shortly thereafter.
It covers total production figures, performance by key operators, and state-level contributions, focusing on key basins such as the Permian Basin, Appalachian Basin, Denver-Julesburg (DJ) Basin, Onshore and Offshore Gulf of America (Mexico), Williston Basin, and Greater Anadarko Basin.
The move aims to capitalize on the fact that the VTX oil and gas business is one of the few remaining privately-owned operators of scale in the Permian basin after the last two years run of dealmaking in the top U.S. shale oil and gas producer at as much as $3 billion, including debt, people familiar with the matter said. billion.
The three Permian basin districts7C, 8 and 8Acomprised 67.3% (World Oil) –The Railroad Commission of Texas on Friday released its figures for March drilling in the state, showing a noticeable gain over the previous months number. The overall figure also tied the level achieved in January. of all drilling in the state during March.
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.
The hedges were executed following the closing of Prairies transformative acquisition of DJ Basin assets from Bayswater Exploration and Production. Prairie continues to advance development across its DJ Basin footprint, including the recently announced 11-well Rusch Pad targeting the Niobrara and Codell formations.
Both trends suggest that some formations in the basin are reaching geological constraints, and more drilling isnt necessarily proportionate to the oil volumes produced. Indeed, Big Oil executives have predicted that peak oil supply will arrive in the U.S. before 2035. It simply means that nothing is certain until it happens.
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. “Transaction”).
billion for land bridges – combinations of wetlands, ridges and above-water land – to be built across stretches of open water in the Barataria and Lafourche basins. [5] billion for land bridges – combinations of wetlands, ridges and above-water land – to be built across stretches of open water in the Barataria and Lafourche basins. [5]
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% The transaction is subject to customary regulatory approvals and is expected to close in the third quarter of 2025.
Per a statement by the NOC of Libya, Italys Eni resumed exploratory drilling in the Ghadames Basin in October. (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.
But even in the mighty Permian Basin, which turned the United States into the worlds biggest oil producer, resources eventually deplete. According to a survey of oil companies by the Federal Reserve Bank of Dallas, this break-even point is around $61 per barrel in the Midland Basin, the heart of the Permian, and $65 for the region as a whole.
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. Innovation mixed with the right public policy propelled U.S. The Texas success story. Learning from the pandemic period.
The first well was spud on April 1, 2025, utilizing Precision E-Drilling Rig 461, as part of the Companys continued strategy to expand production and enhance operational efficiencies in the Denver-Julesburg (DJ) Basin. Drilling is expected to be completed by early June, with hydraulic fracturing commencing shortly after.
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