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Kazakhstan has increased in February its crude oil and gas condensate production by 13% to a record of 2.12 million barrels per day (bbl/d), exceeding its quota within the OPEC+ group of oil producers, as Reuters reported. Excluding gas condensate, Kazakhstan’s crude oil production surged by 15.5% from January to 1.83
In total, EVOLVE welcomed attendees from more than 350 energy companies, including oil and gas operators, financial institutions, midstream firms, oilfield service providers and renewable energy developers. Collectively, these organizations represent: 60% of North American crude oil production 56% of natural gas production $12.1
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.
Based on internal data from 28 banks, a record number of participants, the latest survey shows while oil and gas prices have shifted in the short term, long-term forecasts are still in line with past projections, suggesting banks view recent economic changes as temporary. Natural gas tells a dramatically different story.
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.
(Oil & Gas 360) 85% of the remaining 2025 daily production locked in at $68.27/bbl bbl WTI and $4.28/MMBtu bbl WTI and $4.28/MMBtu bbl WTI and $4.09/MMBtu is a Houston-based publicly traded independent energy company engaged in the development and acquisition of oil and natural gas resources in the United States.
publicly traded oil and gas companies. 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.
(Oil & Gas 360) Q1/25 capital program realized well outperformance averaging 20% above internal type curves (2) , driving estimated average volumes over 41,600 boe/d (1) Opportunistically retired ~US$15 million of senior notes by allocating ~C$21 million to open market repurchases at prices below par Continued share buybacks with ~3.4
The Denver-Julesburg (DJ) Basin continues to stand out as one of the most consolidated and cost-effective oil and gas plays in the U.S. While it lacks the scale of the Permian or Eagle Ford, the DJ offers operators attractive breakeven costs, strong midstream infrastructure, and a strategic position for gas-weighted growth.
Oil & Gas Contact Directories Flowback Consultants and Well Testers Contact List Completions Engineer Contact List Completions Consultant Contact List Drilling Engineer Contact List Drilling Consultant Contact List The post Permian Resources Expands Delaware Basin Position with $608M APA Deal appeared first on Oil Gas Leads.
(Oil & Gas 360) – Calgary, Alberta (May14, 2025) Strathcona Resources Ltd. About Strathcona Strathcona is one of North Americas fastest growing oil and gas producers with operations focused on thermal oil and enhanced oil recovery. Tourmaline) for $291.5 Strathcona has $5.5
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
Austin Chalk Emerges as South Texas Top Target As Tier 1 Eagle Ford drilling locations dwindle, South Texas energy producers are turning to an overlooked formation to keep the gas flowing. Natural Gas in Focus: South Texas Eyes the Next Wave With global gas prices gaining momentum and the U.S. Bcf/d by 2026.
The oil and gas industry navigates a transformative 2025 period shaped by strategic consolidations, maturing resource plays, and shifting market fundamentals. 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.
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. 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.
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.
oil and gas executives arent just reacting to the markettheyre actively redefining it. Sub-$40 Inventory Is a Strategic AdvantageIf You Use It Many top operators hold decades of drilling inventory with breakevens under $40/bbl. oil & gas majors are now eyeing AI infrastructure as a growth vector. Its looking like [U.S.
(Oil & Gas 360) – Publisher’s Note: Zephyr Energy will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown , August 17-20, 2025. The evaluation confirms that theCane Creekreservoir is highly productive and potentially ranks alongside some of the most productive oil and gas plays in theU.S.
Unlocking the potential The countries of the region are keen to unlock the potential of their unconventional oil and gas resources. 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.
(Oil & Gas 360) Publisher’s Note: Whitecap Resources will be presenting at the 30th Anniversary EnerCom Denver-The Energy Investment Conference at the Westin Denver Downtown on August 17-20, 2025. The Board of Directors will consist of eleven members, made up of seven directors from Whitecap and four directors from Veren.
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 post GPC Operates Modern Drilling Rigs in Eastern Desert, To Drill 75 Oil Wells in One Year first appeared on Egypt Oil & Gas.
Austin Chalk Emerges as South Texas Top Target As Tier 1 Eagle Ford drilling locations dwindle, South Texas energy producers are turning to an overlooked formation to keep the gas flowing. Natural Gas in Focus: South Texas Eyes the Next Wave With global gas prices gaining momentum and the U.S. Bcf/d by 2026.
We can minimize surface loss of mud on oil and gas well drilling by following steps. Seepage losses These are down hole losses ranging from 2 to 10 bbl per hour. This drilling fluid loss with cutting or solid being exit from solid control equipment is called surface mud or drilling fluid loss. Use proper shale shaker screen.
In early 2024, WTI crude prices averaged $77$80/bbl , whereas by Q2 2025, prices have softened to $60$70/bbl. Oil & Gas Account Directory Saskatchewan Light Oil Operator List Western Canada Heavy Oil Operator List St.
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. And with the U.S.
Among the most prominent of these discoveries are the West Fewebs-1X well with a production capacity of 6,400 barrels of oil per day (bbl/d) and 25.5 Additionally, 60 recompletion operations were carried out, resulting in an achievement rate of 87% for crude oil and condensates, and 86% for natural gas.
The upside in natural gas was driven by elevated ethane rejection. 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 bbl Natural gas: $1.35/Mcf
Results summary ($ 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 Genel Energy has announced its audited results for the year ended 31 December 2024. Production costs (17.6) (18.0) EBITDAX1 1.1 Capital expenditure 25.7
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. first appeared on Egypt Oil & Gas. bp announced an oil discovery at its Far South prospect in the deepwater US Gulf of America.
share) at US$70/bbl WTI Free Funds Flow: $550 million Net Debt: Maintained under $1 billion with a 0.3x Infrastructure & Cost-Saving Initiatives Lator Montney Expansion: Strategic partnership with Pembina Gas Infrastructure (PGI) funds 100% of Phase 1 Lator Infrastructure. 29% of 2025 natural gas production hedged at $3.35/GJ.
Competitive breakevens sub-$40/bbl support cash flow. Oil and Gas Account Directory Saskatchewan Light Oil Operator List Western Canada Heavy Oil Operator List St. Ring Energys facility acquisitions, revealed through TCEQ permit transfers, underscore its strategic expansion in Andrews County. Adds ~2,300 boe/d (80% oil) production.
issued by the UK's Financial Conduct Authority ('DTR 4.3A') and in accordance with The Reports on Payments to Governments Regulations 2014 (as amended in 2015) (the 'UK Regulations') and our interpretation of the Industry Guidance on the UK Regulations issued by the International Association of Oil & Gas Producers. By John Lee.
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.
The strategy focuses on: Capital discipline Optionality in completions Free cash flow preservation If oil prices fall below $55/bbl , SM may pause completions (the costliest phase), preserving capital while maintaining the ability to ramp up when market conditions improve. Month 2024 Actual 2025 Forecast June 4 7.4 August 16 6.3
mud tanks are important rig components that are used for storing mud for oil and gas drilling operation. Degasser It is located on down stream of shale shaker on mud tank a nd is used to remove any entrap gas in mud while controlling gas kick Agitator Are used to agitate mud to prevent settling down of solids from mud.
2025 Oil Production (bbl) Marathon Oil 641,000 EOG Resources 593,000 ExxonMobil (XTO Energy) 344,000 Crescent Energy (Javelin) 189,000 This move strengthens EOGs competitive positioning in an already active county and sets up the company for continued long-lateral drilling in one of North America’s most prolific shale plays.
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.
OilPro is constantly on the lookout for new solutions that help those in the oil & gas business do business better. Our VET process (venturi-ejector technology) We use disposal water as the motive fluid to entrain & compress gas. Once installed the site can have conditioned fuel gas for on-site power generation.
oil production resilience depends on two pillars: An inventory of low-cost projects (sub-$40/bbl) Sustained operational activity to avoid decline and cost inflation Insights from the top oil & gas CEOs reinforce this modelbut they also reveal growing concern about capital discipline and production headwinds. Takeaway : U.S.
oil and gas industry is experiencing one of its most transformative periods. oil & gas basins , the leading companies , and market trends using the latest data and forecasts. Exxon, Chevron, and Shell Are Betting on Carbon CaptureIs It the Future? What are the key companies doing to stay competitive? We analyze major U.S.
Oil & Gas Contact Directory Flowback Consultants and Well Testers Contact List Completions Engineer Contact List Completions Consultant Contact List Drilling Engineer Contact List Drilling Consultant Contact List The post U.S. million boe/d in Q1. What Does “Advantaged” Mean?
Danny Wesson Through a lower share count, lower cost structure, and quality inventory, our breakeven oil price for the same free cash flow dropped $9/bbl from last year. Oil & Gas Account Directory Saskatchewan Light Oil Operator List Western Canada Heavy Oil Operator List St. Below, we unpack how top U.S. The top U.S.
Let see some mostly used acronyms in oil and gas drilling rig operational game plan and daily drilling report. Drilling rig operation report also called daily drilling report or DDR contain several acronyms. These acronyms minimize drilling report size and make it easy to read and understand.
The Energy Information Agency reported as follows in its September 13, 2007, report: Since Wednesday, September 5, natural gas spot prices increased as tropical storms threatened to disrupt supplies and pipeline explosions in Mexico stirred concerns of supply security. Natural Gas in Storage 3,069 Bcf UP 64 Bcf 9.3%
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