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Galp Expects New Field to Boost Its Production in Brazil by 40%

OilPrice

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.

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Upstream M&A sails to $17 billion in 1Q25

Enverus

Calgary, Alberta (April 23, 2025) Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, is releasing its summary of 1Q2025 upstream M&A activity and outlook for the rest of the year. energy producers, and more than 40,000 suppliers.

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Upstream M&A reached $17 billion in Q1 2025, Enverus says

Oil & Gas 360º

(World Oil) – Enverus Intelligence Research (EIR), a subsidiary of Enverus, is releasing its summary of 1Q2025 upstream M&A activity and outlook for the rest of the year. Upstream M&A opened 2025 with $17 billion in deal value, the second-best start to a year since 2018.

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Permian Basin growth fuels ExxonMobil’s quarterly success

Oil & Gas 360º

Upstream earnings increased by $1.1 These mostly offset lower earnings due to a significant decline in industry refining margins, weaker crude prices, lower base volumes from strategic divestments, and higher expenses from growth initiatives, Exxon said. billion from a year earlier to $6.8 Exxons net production jumped by 20% to 4.6

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Upstream Production Report: 2022 vs. 2023 vs. 2024 – Main Basins, Operators, Oil vs. Gas

Rextag

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.

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TIPRO reports decline in Texas upstream employment for March

Permian Basin Oil and Gas Magazine

Texas Independent Producers and Royalty Owners Association said April 18 that upstream employment in the Texas oil and gas industry declined in March. Bureau of Labor Statistics show Texas upstream employment for March was 204,400 a decline of 700 industry positions from February. Austin-based TIPRO cited data from U.S.

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U.S. Upstream Leads ExxonMobil’s 2025 Strategy — Powered by “Advantaged” Projects

Oil Gas Leads

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.