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million barrels per day (bbl/d), exceeding its quota within the OPEC+ group of oil producers, as Reuters reported. million bbl/d, which takes into account Kazakhstan’s tons per barrel ratio of 7.5. Million bbl/d, Exceeding OPEC+ Quota first appeared on Egypt Oil & Gas. from January to 1.83
While we reduced our Brent forecast range by $5/bbl to $65-80, we expect oil prices to edge up in coming months, and think that market pricing of volatility and of the upside risk from potentially lower sanctioned supply remains too low, Goldman Sachs analysts wrote in a Tuesday note carried by Reuters.
The bank now expects Brent crude to average $60 per barrel for the rest of 2025 and $56/bbl in 2026 down by $2 from its previous estimate. It has also cut its forecast for West Texas Intermediate (WTI) crude by $3/bbl, now projecting it to average $56/bbl for the remainder of 2025 and $52/bbl in 2026.
The eight OPEC+ countries reaffirmed to start gradual increase in production starting from 1 April 2025 by adding 411,000 barrels per day (bbl/d), equivalent to three monthly increments, in May 2025. The post OPEC+ Reaffirms to Increase Production by 411,000 bbl/d in May first appeared on Egypt Oil & Gas.
The global oil industry has been on alert since oil prices dropped below $60/bbl. Investment in the US Lower 48 tight oil sector has shown notable sensitivity.
bbl by [Read more] (Updates) ** Shares of oil companies decline further in morning trading after eight OPEC+ countries announced they would advance their plan for oil output hikes * OPEC+ will increase output by 411,000 barrels per day in May ** Brent futures fall 6.1% West Texas Intermediate crude futures decline 6.6%
“While we reduced our Brent forecast range by $5/bbl to $65-80, we expect oil prices to edge up in coming months, and think that market pricing of volatility and of the upside risk from [Read more] Tariff escalation and high spare capacity skew medium-term risks to Goldman Sachs’ oil price forecast to the downside, the bank said.
The bank estimates around $3-4 per barrel of upside risk to its Brent and WTI oil price forecast of $60/bbl and $56/bbl respectively for the rest of [Read more] Goldman Sachs sees upside risk to its Brent and WTI oil price forecast in 2025 and 2026 from recent trade de-escalation, it said in a note on Tuesday.
bbl WTI and $4.28/MMBtu bbl WTI and $4.28/MMBtu bbl WTI and $4.09/MMBtu (Oil & Gas 360) 85% of the remaining 2025 daily production locked in at $68.27/bbl MMBtu Henry Hub HOUSTON, TX, April 10, 2025 (GLOBE NEWSWIRE) — Prairie Operating Co. Key Hedging Terms: Remaining 2025 Production: $68.27/bbl
Drill Baby Drill is not happening in the US after a $15/bbl fall in the price of oil over the last 5 days. No doubt about it. For an industry that has spent much of the last decade focused on profitability, lower oil prices simply are not going to result in an increased desire to [Read more]
Barclays lowered its Brent oil price forecast by $4 per barrel to $66/bbl for 2025 and by $2 to $60/bbl for 2026, citing the decision by OPEC+ to accelerate oil production hikes. “Tariff-related developments have certainly been a drag but the OPEC+ pivot has also been a significant driver of the move lower in oil [Read more]
Oil prices have fallen by about $6/bbl, reflecting mounting fears that the intensifying trade dispute could trigger a broader economic downturn. The escalating conflict has already rippled through global markets.
The bank now expects Brent crude to average $60 per barrel for the rest of 2025 and $56/bbl in 2026 down [Read more] Goldman Sachs reduced its oil price forecast following decisions by the Organization of the Petroleum Exporting Countries and its allies, OPEC+, to accelerate oil output increases, the bank said in a note dated Sunday.
The International Energy Agency (IEA) announced that global oil demand growth forecast for 2025 has been revised down to 730,000 barrels per day (bbl/d), a decrease of 300,000 bbl/d from the March report. IEA elaborated that in March, world oil supply surged by 590,000 bbl/d, recording 103.6
With crude oil prices stagnant in the $70-$80/bbl range, producers were driven to boost Tier 1 acreage and capture operational synergies to fund the generous shareholder returns demanded by their investor base. publicly traded oil and gas companies. MMboe/d of production, almost 25% of their 2023 Permian output.
SUMMER CLEARANCE SPECIALS – 500 BBL Water Tanks, 500 BBL Mud Mixing Tanks, and 200-500 Ton Rotary Swivels – Request Information at Sales@PickettOilfield.com or call 936-336-5154 or visit us at [link] to view more of the equipment we have to offer.
While we reduced our Brent forecast range by $5/bbl to $65-80, we expect oil prices to edge up in coming months, and think that market pricing of volatility and of the upside risk from potentially lower sanctioned supply remains too low, Goldman Sachs analysts wrote in a Tuesday note carried by Reuters.
The agency in its March 2025 Short-Term Energy Outlook report forecasts Alaska’s crude production to rise by “16,000 barrels per day (bbl/d) in 2026 to 438,000 [Read more]
While not as prolific as the Permian or Eagle Ford, it offers strong midstream infrastructure and low breakeven costsmany sub-$50/bbl. Cost Efficiency & Drilling Innovation Chevron reports 75% of its DJ inventory has <$50/bbl breakevens. mcf/bbl in 2019 ~6.95 mcf/bbl in 2025).
The price of West Texas Intermediate (WTI) opened 2022 at about $75 a barrel (bbl). Last week, the price rose above $90/bbl for the first time since 2014. That was also the last year the price of WTI was above $100/bbl. To recap, in the first half of 2014, oil prices spent most of the time bouncing between $100/bbl and $105/bbl.
All boe conversions in this press release are derived by converting gas to oil at the ratio of six thousand cubic feet (mcf) of natural gas to one barrel (bbl) of crude oil. Boe may be misleading, particularly if used in isolation. USD-CAD and C$3 / GJ AECO.
With produced water now available for flooding the Oungre, we have introduced approximately 3,000 bbl/d of injection and were able to suspend a source water well that is expected to save an estimated $250,000 per year in operating costs. GJ to $3.35/GJ. Boe may be misleading, particularly if used in isolation.
Saudi Arabia is home to the Jafurah gas field, the largest liquid-rich shale gas play in the Middle East, estimated to contain more than 200 trillion scf of gas and 75bn bbl of condensates. While Abu Dhabi holds an estimated 220 bbl of unconventional oil and 460 Tcf of unconventional gas in place.
This is expected to add about 7,500 barrels per day (bbl/d) and increase the total production of Ras Gharib fields to 9,000 bbl/d, driven by the efforts of GPCs engineers and technicians. The company is currently implementing an intensive drilling program, supported and supervised by EGPC, aimed at drilling 75 wells within 12 months.
bbl Natural gas: $1.35/Mcf bbl Cash and Capital Metrics: Cash capex : $501 million Adjusted operating cash flow : $961 million Net cash from operations : $898 million Controllable cash costs : $7.54/boe The upside in natural gas was driven by elevated ethane rejection. Realized Pricing: Oil: $70.48/bbl Mcf NGLs: $23.90/bbl
We addressed the maturity of our bond debt by calling the old bond and issuing a new $100 million bond, thereby increasing available cash and putting in place a capital structure that can provide funding towards delivery on our strategic objectives, regardless of whatever uncertainties may face the business at the macro-economic level.
In early 2024, WTI crude prices averaged $77$80/bbl , whereas by Q2 2025, prices have softened to $60$70/bbl. Top 5 Operators by Well Permits in the Permian Oil Prices and Market Pressure Oil market fundamentals have shifted.
Replacing that oil will put additional upward pressure on global oil prices, virtually assuring that oil will exceed $100/bbl if the situation further escalates.” I warned: “Russia supplied 7% of U.S. oil imports in late 2021 – a significant number. What I didn’t explain.
Results summary ($ million unless stated) 2024 2023 Average Brent oil price ($/bbl) 81 82 Average realised price per barrel 35 47 Production (bopd, working interest) 19,650 12,410 Revenue 74.7 Tawke production currently realises only around $35/bbl, which is well below relevant reference benchmark oil prices. EBITDAX1 1.1 EBITDAX1 1.1
crude price differential has narrowed to under $10/bbl Alberta gains ~$740M in revenue for every $1 improvement in the differential Will this Crown-owned asset pay off? Despite the cost overruns, there are real wins: Half the volumes are headed to Asia, diversifying markets Alberta production hit records in Q1 The CanadaU.S.
We are focused on delivering more affordable and reliable energy from this region, building our capacity to over 400,000 barrels of oil equivalent per day (bbl/d) by the end of the decade, he added. . “Our Gulf of America business is central to bps strategy. Globally, bp expects to grow its upstream production between 2.32.5
Financial Summary The combined company’s production forecast at closing is 370,000 boe/d (63% liquids) and based on commodity prices of US$70 /bbl WTI and C$2.00 /GJ AECO, the forecast annualized funds flow is $3.8 After annual capital investments of $2.6 billion 4 , free funds flow is forecast at $1.2 billion 1.
102,012 bbl/d (bitumen) SOR of 2.39 147,819 BOE/d 69,827 bbl/d oil Smaller Producers (10,000 30,000 BOE/d) Company 2024 Average Production Notes Headwater Exploration 20,310 BOE/d +13% from 2023 Kiwetinohk Energy Corp. . ~580,000 BOE/d Includes 210,000 b/d oil and condensate Tourmaline Oil Corp. Vermilion Energy Inc.
So w hat to do when your client says “but I really want a Canadian-style, non-field erected, engineered, shop-built 2,500 Bbl tank”? API 650 Guideline 2,500 Bbl tanks and then truck them to site. The shipping costs tend to exceed fabrication costs. In this case it was a little bit easier.
Bcf/d, while oil output from the formation has increased by 26,000 barrels per day ( bbl /d). That total included: 26,200 bbl /d of crude 22,100 bbl /d of NGLs 140 MMcf /d of gas The Chalk is the backbone of Magnolias portfolio, comprising 93% of its total operated gas volumes and 80% of liquids production last year.
Forecast: With companies securing three to seven years of viable inventory at $70/ bbl oil, M&A activity is expected to remain a cornerstone of strategy through 2025. Current estimates suggest that at $70/ bbl oil, companies hold three to seven years of drilling inventory in core zones.
Mud funnel is used to measure mud viscosity Trip Tank Is 50 to 60 bbl tank used to monitor well while RIH and POOH, Active tank Is mud tank from where mud is sucked and pump to well and is same tank where return come back. Mud balance It is used to measure mud weight in pcf or ppg. Mud cup and mud funnel Mud cup is used to collect mud sample.
share) at US$70/bbl WTI Free Funds Flow: $550 million Net Debt: Maintained under $1 billion with a 0.3x With a strategic focus on capital discipline, operational optimizations, and infrastructure enhancements, Whitecap is well-positioned to navigate commodity price volatility while delivering strong production growth and shareholder returns.
That year oil still averaged a relatively strong $78/bbl though, different from a move towards the lower end of its cyclical trading range that 2025 is witnessing.
DP -Drill pipe HWDP – Heavy weight drill pipe DC – Drill collar BOP – Blow out preventer TDS – Top drive system WOB -Weight on bit ROP – Rate of penetration GPM – Gallon per minutes SPP – stand pipe pressure VFD Variable frequency drive SCR -Silicon controlled rectifier AC -Alternating current DC – direct (..)
Competitive breakevens sub-$40/bbl support cash flow. Enhanced recovery potential via waterflooding & CO2 EOR. Why Andrews County: Stable, predictable production profiles. Existing infrastructure minimizes development costs. Understanding TCEQ Facility Transfers: More Than Paperwork What is a TCEQ Transfer?
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