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Portugal-based energy company Galp expects its oil production in Brazil to jump by 40% in the coming years as a new major field is set to begin production later in 2025, Nuno Bastos, EVP Upstream, has said. Currently, Galp holds stakes in various oilfields in the deep waters of the Santos basin in the prolific pre-salt layer offshore Brazil.
(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. Upstream earnings increased by $1.1 billion from a year earlier to $6.8 Exxons net production jumped by 20% to 4.6
This report analyzes upstream oil and gas production trends over the last three years, based on data from Rextag Energy DataLink. Production by Formation - 12 Months (01.2024 - 12.2024) Different formations contribute to Permian Basin production, with the Trend Area and Wolfcamp formations leading in both oil and gas output.
upstream growth, driven by advantaged assets like the Permian Basin, is central to the companys long-term performance. Upstream Results: Permian Power ExxonMobils U.S. upstream earnings jumped to $1.87 Upstream Results: Permian Power ExxonMobils U.S. upstream earnings jumped to $1.87 billion in Q1 2024.
The bid round is expected to attract foreign investors and drive exploration activities across Libyas resource-rich basins, enabling global energy companies to engage in a market that has remained largely unexplored for nearly two decades. Meanwhile, the Sabratha Compression Project is in execution, with startup expected later in the year.
With offices in Dallas and Houston, NSAI provides a complete range of geological, geophysical, petrophysical, and engineering services and has the technical experience and ability to perform these services in any of the onshore and offshore oil and gas producing areas of the world.
Upstream Midstream Downstream are terms commonly used in the oil and gas industry to describe different stages of the production and distribution process. What is oil and gas upstream midstream downstream? Upstream involves locating, surveying, drilling, and extracting crude oil and natural gas from underground reservoirs.
With offices in Dallas and Houston, NSAI provides a complete range of geological, geophysical, petrophysical, and engineering services and has the technical experience and ability to perform these services in any of the onshore and offshore oil and gas producing areas of the world.
Brent Crude $78.03 +1.73% Natural Gas $4.04 +1.35% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS Petronas Gets New Block offshore Suriname by Jov Onsat | Rigzone Staff | Thursday, June 19, 2025 | 7:53 AM EST The new acreage lies next to Petronas' Block 52, which contains the Fusaea, Roystonea and Sloanea discoveries.
CERAWeek 2025 Insights ExxonMobils expansion in the Permian Basin took center stage during CERAWeek 2025 , where executives highlighted how technology is reshaping operations to maximize efficiency and production. million barrels per day (bpd) accounting for over 16% of the basins total production. energy production, contributing 6.26.3
(World Oil) – Africas national oil companies (NOC) are moving beyond operating as state-representatives by transforming themselves into competitive upstream players. The partners completed the offshore platform for Angolas first non-associated gas project in February 2025, with production on track for early-2026.
The seminar covers the basics: geology, petroleum engineering, differences between conventional and unconventional plays, the basics of shale and offshore drilling, the economics of oil and gas exploration and production, geologic storage of CO 2 , and reserves estimations.
The seminar covers the basics: geology, petroleum engineering, differences between conventional and unconventional plays, the basics of shale and offshore drilling, the economics of oil and gas exploration and production, geologic storage of CO 2 , and reserves estimations.
(Shell Brasil), a subsidiary of Shell plc, announced that it has taken the Final Investment Decision (FID) for Gato do Mato, a deep-water project in the pre-salt area of the Santos Basin, offshore Brazil. The Gato do Mato Consortium includes Shell (operator with a 50% stake), Ecopetrol (30%), TotalEnergies (20%) and Pr-Sal Petrleo S.A.
It covers the basics: geology, petroleum engineering knowledge, differences between conventional and unconventional plays, the basics of shale and offshore drilling, the economics of oil and gas exploration and production, geologic storage of CO 2 , and reserves calculations.
The laws create a DPS oilfield theft unit and task force to address rising pipeline thefts in the Permian Basin, which fuels Texas’ economy. Offshore activity held at 13 rigs (-9 y/y). Key measures include tax code changes (SB 529) and enhanced law enforcement tools to protect energy infrastructure from organized crime.
Now, as we step into 2025 , the industry faces critical questions : Which basins will see the most growth? oil & gas basins , the leading companies , and market trends using the latest data and forecasts. The Permian Basin remains the top destination for U.S. What are the key companies doing to stay competitive? MMBbl/d.
With offices in Dallas and Houston, NSAI provides a complete range of geological, geophysical, petrophysical, and engineering services and has the technical experience and ability to perform these services in any of the onshore and offshore oil and gas producing areas of the world. www.vitesse-vts.com
This development marks a significant step in Chevrons strategic offshore growth and reinforces its broader production goals in one of its most prolific regions. He continued, Ballymore, which was completed on time and on budget, brings additional production online without building a new standalone offshore platform.
With offices in Dallas and Houston, NSAI provides a complete range of geological, geophysical, petrophysical, and engineering services and has the technical experience and ability to perform these services in any of the onshore and offshore oil and gas producing areas of the world.
With offices in Dallas and Houston, NSAI provides a complete range of geological, geophysical, petrophysical, and engineering services and has the technical experience and ability to perform these services in any of the onshore and offshore oil and gas producing areas of the world. www.vitesse-vts.com
With offices in Dallas and Houston, NSAI provides a complete range of geological, geophysical, petrophysical, and engineering services and has the technical experience and ability to perform these services in any of the onshore and offshore oil and gas producing areas of the world. www.vitesse-vts.com
With offices in Dallas and Houston, NSAI provides a complete range of geological, geophysical, petrophysical, and engineering services and has the technical experience and ability to perform these services in any of the onshore and offshore oil and gas producing areas of the world. www.vitesse-vts.com
With offices in Dallas and Houston, NSAI provides a complete range of geological, geophysical, petrophysical, and engineering services and has the technical experience and ability to perform these services in any of the onshore and offshore oil and gas producing areas of the world. www.vitesse-vts.com
With offices in Dallas and Houston, NSAI provides a complete range of geological, geophysical, petrophysical, and engineering services and has the technical experience and ability to perform these services in any of the onshore and offshore oil and gas producing areas of the world. www.vitesse-vts.com
Looking ahead, BP plans to drill around 40 exploration wells over the next three years , underscoring its ambition to expand its upstream production base. Top 10 Drilling Rigs by Total Activity (Q1 2024 + Q1 2025) BP and its offshore peers continued to rely on leading rigs across multiple basins. billion (up from $1.2
The discovery comes amid BP's broader pivot away from rapid renewables expansion toward reinforcing its upstream oil and gas portfolio to meet investor expectations and improve financial performance. onshore and offshore regions, including the Gulf of America. BP is also targeting 2.32.5
Potential tariffs and supply chain instability are forcing oil and gas companies to rethink offshore sourcing and search for reliable, domestic chemical supply. Centrium holds that its system results in increased working capital, lower total chemical costs, and independence from offshore suppliers.
The Hail & Ghasha offshore development project, which is set to produce more than 1.5bn standard cubic feet per day (bscfd) of gas before the end of the decade, and the Ruwais LNG project are key ADNOC focuses. ADNOC's LNG capacity is set to expand significantly with the Ruwais LNG project (9.6
24 that Clay Neff, its President/International Exploration and Production, was named President/Upstream, effective July 1. Gulf of Mexico, Offshore Mexico, Brazil, West Africa, Malaysia, the North Sea and other international areas. The post Movers and Shakers appeared first on Permian Basin Oil and Gas Magazine.
The company noted that the output was in line with expectations, despite ongoing offshore development challenges (e.g., BP achieved upstream plant reliability of 95.4%, one of its best on record, and refining availability at 96.2%. shale basins. TWh , the same as Q1 2024. Empire Wind in the U.S.). billion Net Income: $2.63
Despite this trick rather than treat, ExxonMobil boosted production by 80,000 oil-equivalent barrels daily, driven by growth in the Permian Basin and Guyana. decline in revenue, CNOOCs strong output, especially from offshore China and the Payara project in Guyana, helped keep profits on a high note. Adjusted earnings reached $6.03
This enhanced NGL recovery directly benefits operations in liquids-rich DFW basins. Membrane systems are often modular, making them suitable for remote locations, offshore platforms, or phased capacity additions, and can simplify operations. Membranes can also pre-concentrate NGLs from lean gas streams.
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