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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
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.
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
During June 2025, Keddington produced a total of 992 bbl of oil over 23 days of timed pumped production averaging 10.4 David Bramhill, Executive Chairman of Union Jack, commented: “As expected, current flow rates from Keddington are exhibiting a material increase in oil production to those seen prior to the site upgrades.
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
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.
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%
Canadas long-awaited Trans Mountain Pipeline expansion is up and running but not yet at full capacity. 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.
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. This was driven by two factors. Venture capital money flowed in.
(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
Here are the top five things Permian Resources is concentrating on for the balance of the year: US Oil & Gas Operator Account Directory – $10 Buy Now Includes: Account Name, Location, Phone, Website, Wells Drilled 2025 1. adding ~13,320 net acres in Eddy County, NM. adding ~13,320 net acres in Eddy County, NM.
(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
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 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. Bbl UP $4.11 Bbl UP $4.11
Since Wednesday, August 15, all prices reported in the weekly chart (for both natural gas and crude oil) have decreased as Hurricane Dean failed to have a significant impact on domestic production in the Gulf of Mexico, and temperatures moderated demand. Bbl DOWN $4.06 Bbl DOWN $4.06
(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.
Crude oil was up over $2 per barrel. 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.
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 $70/ bbloil, M&A activity is expected to remain a cornerstone of strategy through 2025.
Results summary ($ 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
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).
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
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. However, in late 2024, the Matterhorn Express pipeline came online, adding 2.5 2025 Forecast Projected Crude Oil Output: 6.6 MMBbl/d , a 0.3
The field is operated by North Oil Company, a joint venture between QatarEnergy (70%) and TotalEnergies (30%). The project includes the drilling of more than 200 wells and the installation of a new centralised process complex, nine remote wellhead platforms, and associated pipelines.
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).
CEO Jon Harris reported strong performance so far this year, with gross average production of approximately 44,900 barrels of oil per day (bopd) supported by steady local demand and optimisation efforts. The company paid a $25 million [approx. billion] interim dividend in April and remains debt-free with $100 million [approx.
We remain focused on facilitating a solution to restart oil exports as we continue to seek fair and transparent agreements regarding payment surety, the repayment of receivables and the preservation of current contract economics." bbl, with prices stabilising in a range of c.$27-$28/bbl bbl (2023: $40.9/bbl) bbl (2023: $5.6/bbl),
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