This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Hal Mead , Asset Manager: Project completed on time, under budget, with no injuries. Excited to share a major milestone from one of the Permian Basin’s top operators— ConocoPhillips has brought its Zia Hills Central Facility 2 (CF2) online in the Delaware Basin.
bbl WTI and $4.28/MMBtu This well-timed risk management initiative secures strong pricing, enhances visibility, and reinforces the Companys commitment to capital discipline and long-term value creation. bbl WTI and $4.28/MMBtu bbl WTI and $4.09/MMBtu Key Hedging Terms: Remaining 2025 Production: $68.27/bbl
Asset Optimization: Permian inventory is increasingly scarce, with seven operators controlling 71% of remaining sub-$50/bbl inventory. 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.
It was costing up to US$10/bbl to ship PW to out of state SWDs because Pennsylvania had only nine permitted SWDs. The development of salt tolerant fracking chemistry was a game changer for managing PW in the Marcellus. Pipelines, water storage lagoons, and treatment plants, quickly came online to manage PW at scale.
With a strong footprint in the Delaware Basin and a management team unafraid to act decisively, the remainder of 2025 looks poised to deliver focused growth. This bolt-on isn’t just about expanding land—it’s about unlocking 100+ gross operated two-mile locations with shallow declines and $30/bbl breakevens.
61% said they would decrease drilling if oil prices stay at $60/bbl. Water Management as a Growing Constraint Produced water disposal is becoming a serious cost and logistical issue. Quote: “Water management is a potential disaster waiting to happen.” Nearly 50% of executives plan to drill fewer wells in 2025 than anticipated.
Non-GAAP financial measures and ratios are used internally by management to assess the performance of the Company. Management uses this metric to isolate the revenue associated with the Companys production after accounting for the unavoidable cost of blending. McDaniel & Associates Consultants Ltd., and www.strathconaresources.com.
The combined company will be led by Whitecap’s existing management team under the Whitecap name with four Veren directors to join the Whitecap Board of Directors, including the current President & CEO of Veren, Craig Bryksa. Under the terms of the Agreement, Veren shareholders will receive 1.05 billion 1.
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.
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.
That year oil still averaged a relatively strong $78/bbl though, different from a move towards the lower end of its cyclical trading range that 2025 is witnessing. Potential buyers may also consider adding exposure to other areas like the Eagle Ford natural gas window or Mid-Continent. One option for inventory-strapped U.S.
Results summary ($ 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 Tawke production currently realises only around $35/bbl, which is well below relevant reference benchmark oil prices. EBITDAX1 1.1 EBITDAX1 1.1
Production entitlements are paid in-kind and the monetary value disclosed is derived from management's estimates based on the monthly oil sales invoices. The figures reported have been produced on an entitlement basis, rather than on a liftings basis. The terms of the royalties are described within the Shaikan PSC.
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 (..)
Management estimates of gas estimated ultimate recovery (EUR) for the State 36-2R well range from 4-6 billion cubic feet (“BCF”) (0.9 Initial management estimates of net ultimate recoverable resources range from 137 – 271 – 399 BCF and 2.7-12.5-23.1 The key results from the evaluation are set out below.
I would like to commend Sean Lawless, country manager for Qatar for establishing EnerMech as a leading provider of leak testing and flange management services in the region, which puts us in a position to continue the evolution of EnerMech in the Gulf. Charles Chuck Davison Jr.,
Developing and implementing a robust safety and risk management program. Developing and implementing a strategy for managing and reducing carbon emissions. 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.
Seepage losses These are down hole losses ranging from 2 to 10 bbl per hour. Partial losses are easy to manage as drilling rig mud system mixing hopper is capable to build up more mud to continue drilling. Higher the permeability more will be spurt losses.
Sub-$40 Inventory Is a Strategic AdvantageIf You Use It Many top operators hold decades of drilling inventory with breakevens under $40/bbl. Our estimate is a ~1% impact on shale well cost manageable. Its looking like [U.S. production] peak could come sooner. Vicki Hollub, Occidental 2. Mike Wirth, Chevron 5.
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. days April 9, 2025 Rig 45 Latshaw 24 wells 17.0
Darren Woods, ExxonMobil CEO Chevron has adopted a similar mindset, linking cost reductions with strategic portfolio management: Weve targeted $23 billion in structural cost savings to be delivered by the end of next year. Mike Wirth, Chevron CEO Wood Mac data shows that weve got the lowest upstream breakeven in the industry.
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. Potential buyers may also consider adding exposure to other areas like the Eagle Ford natural gas window or Mid-Continent. One option for inventory-strapped U.S.
By 2030, this elite group of seven companies will hold nearly all remaining inventory with breakeven prices below US$45/bbl WTI. Companies must weigh the benefits of specialization against the need for diversification and geographic risk management. What Are the Strategic Options for the 2030s?
Cost Management: The company is shifting towards a cash flow-focused approach, ensuring stable returns for shareholders while limiting risk. Factors Driving 2024 Prices: Geopolitical tensions in the Middle East and Russia-Ukraine conflict pushed prices above $85/bbl at times. production.
Operational & Financial Strong safety track record, with Zero Lost Time Incidents for over 880 days Gross average production of c.44,900 Operational & Financial Strong safety track record, with Zero Lost Time Incidents for over 880 days Gross average production of c.44,900
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content