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
The tariff wars and high spare capacity, mostly from the OPEC+ producers, are skewing the oil price risk to the downside in the medium term, according to Goldman Sachs.
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
(Investing) –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. Brent crude futures were trading at $60.02 a barrel by 0802 GMT, while U.S. a barrel.
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.
(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% bbl by [Read more] West Texas Intermediate crude futures decline 6.6%
(Oil Price) –The tariff wars and high spare capacity, mostly from the OPEC+ producers, are skewing the oil price risk to the downside in the medium term, according to Goldman Sachs. HSBC analysts also see risks in oil skewed to the downside amid expectations of a surplus this year and next.
Andrew McMurray, CEO of ShearFRAC, said, “Enverus was the obvious choice for us as a technology service business in the oil field services space. Collectively, these organizations represent: 60% of North American crude oil production 56% of natural gas production $12.1 Learn more at Enverus.com.
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. 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]
(World Oil) –Banks are staying confident in long-term energy fundamentals despite significant trade policy turbulence, according to the Spring 2025 Haynes Boone Energy Bank Price Deck Survey. That consistency helps support continued access to secured credit for oil and gas producers. per barrel from $61.89 per barrel from $61.89
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.
Drill Baby Drill is not happening in the US after a $15/bbl fall in the price of oil over the last 5 days. 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] No doubt about it.
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. These expectations are mainly impacted by the strong oil consumption in Q1 2025, up by 1.2
(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.
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.
(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
(Oil & Gas 360) – Calgary, Alberta (May14, 2025) Strathcona Resources Ltd. In light of low current oil prices, Strathconas updated long-range plan reflects a deferral of the sanction of the Lindbergh Phase 2 expansion project from 2026 to 2027 to prioritize near-term free cash flow generation. Tourmaline) for $291.5
Energy Information Administration on Wednesday forecast that Alaska’s annual crude oil production will increase in 2026, a first since 2017 and, if realized, the largest since 2002.
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.
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.
Canadas oil and gas sector remained resilient in 2024, with several operators reporting record-breaking production volumes. The data reflects both oil and gas output, offering a high-level look at market leaders, operational growth, and emerging trends in Canadian upstream development. 102,012 bbl/d (bitumen) SOR of 2.39
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.
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.
crude oil production. While legacy vertical well production has declined, horizontal drilling in tight oil plays, particularly in the Permian, has fueled unprecedented growth. Onshore Oil Production Trends (20102024) Metric 2010 2024 % Change Total Onshore L48 Production 3.4 million b/d 2.1 million b/d 8.9 million b/d ( 0.6
bp announced an oil discovery at its Far South prospect in the deepwater US Gulf of America. Both the initial well and a subsequent sidetrack encountered oil in high-quality Miocene reservoirs. million barrels of oil equivalent (mmboe) in 2030, with further capacity expected by 2035. first appeared on Egypt Oil & Gas.
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.
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 not as prolific as the Permian or Eagle Ford, it offers strong midstream infrastructure and low breakeven costsmany sub-$50/bbl. Gas-Weighted Future Gas-to-oil ratios are rising (4.6
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 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.
(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. million acres in Alberta. After annual capital investments of $2.6 billion 4 , free funds flow is forecast at $1.2 billion 1.
shale oil production, is experiencing a notable contraction in drilling permit activity this spring. 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.
In todays lower-for-longer oil price environment, U.S. oil executives are framing the push for innovation and structural cost reductionand whether the momentum can last. Nick Olds, EVP Conclusion: Is $40 Oil the New Normal? shale operators must be relentless in their pursuit of cost efficiency. Below, we unpack how top U.S.
On top of that, upstream companies will now have to navigate significant headwinds from falling oil and equity values. Buyers on the other hand were already stretched by M&A valuations and cant afford to continue to pay recent prices now that oil prices are lower.
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.
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.
Realized Pricing: Oil: $70.48/bbl 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.
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/ bbloil, M&A activity is expected to remain a cornerstone of strategy through 2025.
As Russian troops were massing on Ukraine’s border back in February, I wrote Russia Is A Major Supplier Of Oil To The U.S. oil imports in late 2021 – a significant number. 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.”
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. Solid control equipment do not discard dry solid, there is limited liquid portion of mud that is also discharge with cutting or solid. Use proper shale shaker screen.
Ring’s acquisition of these mature assets aligns with its conventional oil growth model. Adds ~2,300 boe/d (80% oil) production. Competitive breakevens sub-$40/bbl support cash flow. Oil and Gas Account Directory Saskatchewan Light Oil Operator List Western Canada Heavy Oil Operator List St.
Results summary ($ 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
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.
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.
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