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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. Hal Mead , Asset Manager: Project completed on time, under budget, with no injuries.
(Oil & Gas 360) 85% of the remaining 2025 daily production locked in at $68.27/bbl bbl WTI and $4.28/MMBtu MMBtu Henry Hub HOUSTON, TX, April 10, 2025 (GLOBE NEWSWIRE) — Prairie Operating Co. bbl WTI and $4.28/MMBtu bbl WTI and $4.09/MMBtu About Prairie Operating Co. Prairie Operating Co.
The outlook for Western Canada’s heavy oil sector in 2025 is decisively optimistic. This upswing in permits aligns with broader capital plans from oil sands and thermal oil producers signaling renewed confidence in long-cycle heavy oil assets. Cost control, reliability Imperial Oil 400–430K ~2.0
Khalda Petroleum, a joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) and Apache Corporation, is bringing two new wells into production in June 2025, with an initial estimated total of 5,400 barrels of crude oil per day (bbl/d). Khalda completed drilling operations for the Fox Deep-02 appraisal well.
oil and gas industry is facing mounting headwinds in 2025. According to the latest Dallas Federal Reserve survey, low oil prices, lingering tariffs, and worsening water logistics are prompting operators to sideline rigs, cut drilling plans, and brace for a prolonged period of stagnation. oil production in April 2025: 13.4
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. Learn more at Enverus.com.
The Slagugle oil discovery was initially proven in 2020, with preliminary estimates suggesting resources in the range of 30.8 - 61.6 million bbl of oil equivalent in Triassic reservoir rocks. The Slagugle oil discovery was initially proven in 2020, with preliminary estimates suggesting resources in the range of 30.8 - 61.6
Every year billions of barrels of Produced Water (PW) are generated from oil and gas production around the world. As fields age, they generate higher water to oil ratios. In some mature fields, 10 barrels of water are generated for every barrel of oil produced. There are two primary destinations for PW from onshore operations.
As the shale sector enters a new phase defined by capital discipline, consolidation, and operational innovation, Permian Resources Corp. 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. For 2025, the company is targeting a 7.8%
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.
(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
“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. 2.0B), citing cost reductions and strong cash flow performance. .”
(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 project includes new subsea infrastructure that will increase recoverable volumes by 40 – 50 million bbl of oil equivalent. Johan Sverdrup is the largest oil-producing field in Norway and ranks among the world’s most carbon-efficient oil fields. The field is operated by Equinor, with Aker BP holding a 31.6%
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. MMboe/d of production, almost 25% of their 2023 Permian output.
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
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. Realized Pricing: Oil: $70.48/bbl Mcf NGLs: $23.90/bbl
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.
As Diamondback Energy heads into the second half of 2025, the company stands at the intersection of consolidation, capital discipline, and operational transformation. After a whirlwind year defined by mega-acquisitions and volatile oil prices, the remainder of 2025 is all about execution.
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
(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.
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.
oil and gas executives arent just reacting to the markettheyre actively redefining it. 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.
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.
oil production resilience depends on two pillars: An inventory of low-cost projects (sub-$40/bbl) Sustained operational activity to avoid decline and cost inflation Insights from the top oil & gas CEOs reinforce this modelbut they also reveal growing concern about capital discipline and production headwinds.
shale oil production, is experiencing a notable contraction in drilling permit activity this spring. Top 5 Operators by Well Permits in the Permian Oil Prices and Market Pressure Oil market fundamentals have shifted. The Permian Basin, the beating heart of U.S.
In todays lower-for-longer oil price environment, U.S. shale operators must be relentless in their pursuit of cost efficiency. That level of performance is only possible through structural cost reductions across drilling, fracing, facility development, and production operations. Below, we unpack how top U.S.
Results summary ($ 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)
Facility Transfers to Ring Energy: Recent TCEQ filings reveal the operational transfer of legacy Whiting assets (e.g., Ring’s acquisition of these mature assets aligns with its conventional oil growth model. Adds ~2,300 boe/d (80% oil) production. Complements existing Shafter Lake operations. Chord Energy).
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
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. Trasko Development Potential: Long Laterals, Modest PDP The existing ASE South leaseproducing 2,0003,000 boe/d (85% oil)is expected to be a launching pad for longer wells.
The oil and gas industry navigates a transformative 2025 period shaped by strategic consolidations, maturing resource plays, and shifting market fundamentals. With M&A activity accelerating, companies are securing inventory and refining their operations to meet future demand.
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.
Abdel Moneim stated that in the field of exploration and discovery, Khalda Petroleum Company achieved 10 oil discoveries during the first half of the current fiscal year. These discoveries have contributed to adding a total expected reserve (proven and probable) estimated at approximately 35 million barrels of oil equivalent (mmboe).
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. This reduction isnt reactionaryits part of a deliberate capital allocation strategy designed to protect margins and preserve flexibility in a potentially volatile oil market.
(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.
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.
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.
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. 6 oil-focused wells averaged 1,056 boe /d (49% oil, 75% liquids).
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.
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. 2025 Forecast Projected Crude Oil Output: 6.6 Exxon, Chevron, and Shell Are Betting on Carbon CaptureIs It the Future? We analyze major 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.
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
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. 6 oil-focused wells averaged 1,056 boe /d (49% oil, 75% liquids).
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