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The company’s flagship customer conference brought together more than 700 leaders, innovators and decision-makers from across the energy value chain to explore the future of energy through the lens of generative artificial intelligence, market transformation and operational excellence. operating companies.
“There really is a lot more beyond just those zones… really good targets,” — Will Hickey, Co-CEO M&A and Trade-Driven Optimization PR sees immediate value in the 4,500 non-op acres acquired, planning to trade into operated interests or form new units. Permian Resources Corp. (PR)
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.
The new drilling rigs boast high operational efficiency, faster well completion, and easy mobility between sites at a lower costenhancing the execution of plans in a more efficient and cost-effective manner, said Mohamed Abdel Mageed, Chairman of GPC, in a report to the Ministry of Petroleum and Mineral Resources.
Permian Resources Corporation, a leading pure-play operator in the Delaware Basin, has reported strong first-quarter 2025 financial and operational results and announced a strategic bolt-on acquisition of APA Corporations Northern Delaware Basin assets for $608 million. bbl Natural gas: $1.35/Mcf Mcf NGLs: $23.90/bbl
million in common shares of Tourmaline Taken together, the disposed assets generated $149 million of operating earnings in 2024 (12% of total Strathcona YE 2024 operating earnings, excluding interest and other corporate items) and had a YE 2024 proved PV-10 before-tax of approximately $2.3 Tourmaline) for $291.5 Tourmaline) for $291.5
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. While not as prolific as the Permian or Eagle Ford, it offers strong midstream infrastructure and low breakeven costsmany sub-$50/bbl.
It is also the basin that keeps giving with operators consistently adding locations by testing new zones of the prolific basins stacked pay, said Dittmar. That year oil still averaged a relatively strong $78/bbl though, different from a move towards the lower end of its cyclical trading range that 2025 is witnessing.
Genel Energy has issued a trading and operations update relating to Q1 2025. The operational performance delivered from the Tawke and Peshkabir fields, together with the significant cost efficiency, continues to set these fields apart from others in the region. By John Lee.
Im proud to showcase Saturns ongoing operational efficiency with an average 20% well outperformance while our spending remains on budget, providing valuable flexibility in a tumultuous market, and positioning us to reallocate capital as may be needed without impacting our production guidance, said John Jeffrey, Chief Executive Officer of Saturn.
With M&A activity accelerating, companies are securing inventory and refining their operations to meet future demand. shale sector is experiencing a robust wave of mergers and acquisitions (M&A) as companies seek to bolster inventory and scale their operations. CONSOLIDATION GAINS MOMENTUM AMID INVENTORY CONCERNS The U.S.
Results summary ($ 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 Operating loss (52.4) (10.3) Cash flow from operations 66.9 Basic LPS from continuing operations ( per share) (22.5) (6.1)
Visible Long-Term Synergies: Visible operating, capital and corporate synergies which, in addition to supply chain efficiencies, can generate meaningful savings. The combined business will have 40% of its conventional production under waterflood recovery supporting a decline rate of less than 20% on 150,000 boe/d of production.
Top 5 Operators by Well Permits in the Permian Oil Prices and Market Pressure Oil market fundamentals have shifted. In early 2024, WTI crude prices averaged $77$80/bbl , whereas by Q2 2025, prices have softened to $60$70/bbl.
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.
In addition, the Company also provides initial results related to hydrocarbon production in the first quarter of 2025 (“Q1”)from its non-operated asset portfolio in theWilliston Basin,North DakotaandMontana,U.S.(the The Company hedged a total of 18,000 barrels of oil (“bbls”) in Q1.
Facility Transfers to Ring Energy: Recent TCEQ filings reveal the operational transfer of legacy Whiting assets (e.g., Complements existing Shafter Lake operations. Competitive breakevens sub-$40/bbl support cash flow. Ensures regulatory compliance, environmental oversight, and operational accountability. Chord Energy).
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? Some believe it will if it operates for decades to come. Indigenous groups like Project Reconciliation remain interested in ownership. And with the U.S.
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. share) at US$70/bbl WTI Free Funds Flow: $550 million Net Debt: Maintained under $1 billion with a 0.3x
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 Austin Chalkan overlying bench above the Eagle Ford Shaleis fast becoming the next big natural gas growth engine, with operators like EOG Resources, SM Energy, and Magnolia Oil & Gas ramping up development to meet rising LNG demand and domestic needs. poised to expand LNG export capacity , interest in gassy basins has surged.
The company started the year with 9 active rigs , scaled back to 7 rigs by the end of Q1 , and plans to operate just 6 rigs for the remainder of the year. Oil & Gas Account Directory Saskatchewan Light Oil Operator List Western Canada Heavy Oil Operator List St. Month 2024 Actual 2025 Forecast June 4 7.4 August 16 6.3
requires companies listed on a stock exchange in the UK and operating in the extractive industry to publicly disclose payments to governments in the countries where they undertake exploration, prospection, discovery, development and extraction of minerals, oil, natural gas deposits or other materials. By John Lee.
The $275 million deal , believed to involve Arrow S Energy Operating , adds 120 new 3-mile-lateral drilling locations to EOGs oily Eagle Ford inventory. Oil & Gas Account Directory Saskatchewan Light Oil Operator List Western Canada Heavy Oil Operator List St. Regional Context: Atascosa Activity Snapshot Company Feb.
In Q1 2025 earnings calls, top influencers like Darren Woods (ExxonMobil), Ryan Lance (ConocoPhillips), and Vicki Hollub (Oxy) revealed how operators are navigating volatility, driving efficiencies, and expanding into new, high-margin markets. All of the operational efficiencies are on the back of that consistency.
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.
mud tanks are important rig components that are used for storing mud for oil and gas drilling operation. 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.
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”? These operate in a narrow band as they cannot over-draw. API 650 Guideline 2,500 Bbl tanks and then truck them to site. The shipping costs tend to exceed fabrication costs.
Drilling rig operation report also called daily drilling report or DDR contain several acronyms. Let see some mostly used acronyms in oil and gas drilling rig operational game plan and daily drilling report. These acronyms minimize drilling report size and make it easy to read and understand.
shale operators must be relentless in their pursuit of cost efficiency. That level of performance is only possible through structural cost reductions across drilling, fracing, facility development, and production operations. In todays lower-for-longer oil price environment, U.S. Below, we unpack how top U.S.
The Austin Chalkan overlying bench above the Eagle Ford Shaleis fast becoming the next big natural gas growth engine, with operators like EOG Resources, SM Energy, and Magnolia Oil & Gas ramping up development to meet rising LNG demand and domestic needs. poised to expand LNG export capacity , interest in gassy basins has surged.
This was part of a global 20% increase in production, fueled by: The Pioneer Natural Resources acquisition Continued development in the Permian Basin Structural cost savings and operational efficiencies Permian production alone helped add 767,000 barrels of oil equivalent per day (boe/d) to Exxons total output, a significant portion of its 4.55
One Bakken tank farm currently venting 300,000 SCF/d of 2,300 BTU/ft3 gas was shown to be able to achieve a condensate volume of ~ 70 Bbl/d recoverable. Let’s take a closer look at what this entails and how it benefits your business. What is the purpose of a condensate recovery solution? Click the link to download it now.
to 5 million tonnes/year Financial Snapshot Adjusted Operating Income: $8.65 billion in cash flow from operations (before tax/working capital) and $7.39 BP Q1 2025 Performance BPs first quarter of 2025 reflects a strong operational footing and notable project milestones, despite a year-over-year decrease in profitability.
It is also the basin that keeps giving with operators consistently adding locations by testing new zones of the prolific basins stacked pay, said Dittmar. 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.
The field is operated by North Oil Company, a joint venture between QatarEnergy (70%) and TotalEnergies (30%). The company says its strong relationship with NOC, going back to 2017, was a key factor in retaining the contract, along with its record of past performance, knowledge of NOCs assets and availability of resource within the country.
Bbl UP $2.22 Furthermore, the company announced a strained operating condition warning, which was cancelled on September 3. – Transco Gas Pipeline Corporation released a notice on September 4 regarding firm backhaul transportation service for winter 2007-2008. MMBtu UP $0.17
Have Nots A clear divide is emerging within the Permian between the top-tier operators (the haves) and smaller independents (the have nots). By 2030, this elite group of seven companies will hold nearly all remaining inventory with breakeven prices below US$45/bbl WTI. What Are the Strategic Options for the 2030s?
Occidental Petroleum & Ecopetrols Partnership: Occidental Petroleum (Oxy) continued to expand its Permian operations through a joint venture with Colombian oil company Ecopetrol. Exxon, Chevron, and Shell Are Betting on Carbon CaptureIs It the Future? oil and gas industry is experiencing one of its most transformative periods.
Jon Harris (pictured), Gulf Keystone's Chief Executive Officer, said: "2024 was a year of strong operational and financial delivery for Gulf Keystone. As a result, we are pleased to announce today the declaration of a $25 million interim dividend as we reiterate our 2025 operational and financial guidance. bbl (2023: $40.9/bbl)
In the Trade Truce scenario, oil demand reaches 108mn bpd by 2030, with Brent averaging US$74/bbl, whereas the Trade War scenario sees demand falling in 2026 and Brent plunging to US$50/bbl. Trade policies are emerging as a pivotal force in shaping the future of oil markets," said Alan Gelder , SVP refining, chemicals and oil markets.
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