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(Oil & Gas 360) ~20,000 net acres Significant multi-bench drilling inventory Upsize of USEDCs syndicated revolving credit facility led by Citibank, N.A. USEDC plans to run a dedicated drillingrig on the acquired acreage, making this acquisition a key component of USEDCs 2025 plan to invest up to $1 billion in U.S.
As Diamondback Energy heads into the second half of 2025, the company stands at the intersection of consolidation, capital discipline, and operational transformation. Here are the five biggest trends to watch: Permian Basin Account Directory – $10 Buy Now Includes: Account Name, Location, Phone, Website, Wells Drilled…… 1.
While some experts expect a short conflict and easing prices, others warn a complete shutdown of the strait could send oil prices soaring to $120-$130 per barrel, hurting global consumers. Read more US oil rig count down by 1, says Baker Hughes Summary : For the week ended June 20, the total U.S.
Canada-based oil and gas company Valeura Energy has completed an eight-well drilling campaign in license B5/27 in Gulf of Thailand with Borr Drillings Mist jack-up drillingrig
The well was drilled to delineate the discovery confirmed in well 6507/5-10 S (Slagugle) and to perform a formation test to gain a deeper understanding of the reservoir properties and connectivity within the hydrocarbon-bearing layers. The Deepsea Yantai drillingrig, operating in a water depth of 341 m, was utilised for the drilling.
Canada-based oil and gas company Valeura Energy has completed an eight-well drilling campaign in license B5/27 in Gulf of Thailand with Borr Drillings Mist jack-up drillingrig
In its latest June 2025 Short-Term Energy Outlook , the U.S. Energy Information Administration (EIA) delivered a sobering update on the Eagle Ford Basin—once a crown jewel of U.S. shale development. Gas Forecast One of the most significant adjustments in the June forecast was a 700 MMcf/d reduction in the EIA’s 2026 U.S.
Devon Energys first-quarter 2025 results reflect a disciplined, high-performance approach to drilling and capital deployment. Lets break down what Devon said and did across drilling , efficiency , and regional execution. per Boe, total production cost at $12.42 per Boe, total production cost at $12.42
Diamondback Energy’s Q1 2025 report signaled a clear shift in drilling strategy as the company responded to oil price volatility with calculated reductions in capital spending and activity levels. The company remains agile, ready to ramp up or pull back based on pricing signals while continuing to return capital to shareholders.
Patterson-UTI Energy (NASDAQ: PTEN) kicked off 2025 with a steady operational performance, a strategic focus on natural gas, and an unwavering commitment to drilling innovation. Rig Count: Holding Steady in the U.S. The company operated an average of 106 drillingrigs in the U.S. energy sector.
The first well was spud on April 1, 2025, utilizing Precision E-DrillingRig 461, as part of the Companys continued strategy to expand production and enhance operational efficiencies in the Denver-Julesburg (DJ) Basin. Drilling is expected to be completed by early June, with hydraulic fracturing commencing shortly after.
In Point Energy Partners Permian, LLC v. On June 13, 2017, MRC sent force majeure letters to the lessors claiming that it experienced a delay in the well’s drilling around April 21, 2017. MRC sued Point Energy seeking a declaratory judgment that the leases remained in full force and effect. MRC Permian Company , — S.W.3d
Below we summarize recent (2024–2025) drilling activity, budget allocations, and production volumes in Oklahoma (primarily the Anadarko Basin and related plays) for six companies: Ovintiv , Mach Natural Resources , Devon Energy , Coterra Energy , Continental Resources , and Mewbourne Oil Company.
Volatility in commodity markets isnt just a headlineit shows up in real-world decisions, drilling schedules, and permitting activity. The company announced it would drop three drillingrigs and one completion crew in Q2 2025 , along with a $400 million reduction in full-year capital spending.
Coterra Energy (NYSE: CTRA) released its Q1 2025 results with clear signals of capital discipline, operational focus, and strategic realignment amidst a volatile commodity environment. Below is a deep dive into the company’s drilling activity, capex decisions, rig utilization, and state-by-state footprint for the quarter.
Enverus Intelligence Research (EIR), a subsidiary of Enverus, an energy-dedicated SaaS company that leverages generative AI, released on Feb. 12 a report that analyzes recent inventories of drilling uncompleted wells (DUCs) and the implications for 2025 budgets. Key takeaways of the report include the following. (1)
Updated Guidance and Long-Range Plan Upon completion of the Montney dispositions, Strathcona will be a pure-play heavy oil company producing approximately 120 Mbbls / d (100% oil, 95 Mbbls / d thermal, 25 Mbbls / d conventional) with a 50-year 2P reserve life index and positive net cash (including marketable securities).
The slight recovery in drilling activity comes amid a challenging environment of fluctuating oil and gas prices, ongoing market uncertainties, and shifting priorities among energy companies. Despite the gradual decline in rig counts over the past two years, the U.S. Oil Rigs : Fell by 1 to 486 this week.
million shares since the programs launch in August 2024, or ~4% of outstanding Recognized by The Financial Times as the fastest growing energy company across all of the Americas Calgary, Alberta(Newsfile Corp. net) wells were drilled in southeast Saskatchewan, six (1.2 April 23, 2025) Saturn Oil & Gas Inc. A total of 26 (22.3
Rig churn placed pressure on utilization and operating expenses, stated CEO Anthony Petrello during the earnings call. Operating inefficiencies from elevated rig churn primarily led to the decline in daily margins. Land Drilling Squeeze: Insights from Nabors Q1 2025 Earnings appeared first on Oil Gas Leads. decrease U.S.
In todays volatile energy landscape, shale operators are leaning into a familiar playbookone forged through cycles of boom, bust, and adaptation. Tariffs: A Manageable Drag, But Not Ignored While energy goods have largely been exempt from tariffs, their secondary impactsespecially on materials like casingare being felt.
It involves locating, surveying, drilling, and extracting crude oil and natural gas from underground reservoirs. Key Processes: Exploration, reservoir analysis, drilling, well completion, and production. Assets: Upstream assets include oil and gas fields (land and mineral rights), drillingrigs, production platforms, and wells.
QA/QC Drilling at Selebi Mine Project was completed by Mitchell Drilling of Botswana utilizing a Sandvik UDR1500 and a Boart Longyear LF-160 diamond drillrig. Drill core samples (47.75mm NQ) are cut in half by a diamond saw on site. Drill core samples (HQ: 63.5 Samples are generally 1.0
One factor the CBP proposes to use in evaluating whether an item constitutes vessel equipment is whether the item “is returned to and departs with the vessel after an operation is completed, and is not left behind on the seabed”.
25] In addition, the operator was unable to move a drillingrig onto the wellsite due to weather in February 2004, and as a result, the operator had to pay standby time for the rig. [26] Here, it is clear from the language of the statute that a notarial affidavit of correction may correct only a “clerical error.”
With the call for energy dominance and a push for greater exports of liquefied natural gas (LNG), the timing is paramount to close an electricity gap that has only been growing over the last decade. Only the more optimal projects come to fruition, whereas ERCOT takes measurements based on a 100 percent project completion rate.
President Donald Trumps decision to impose tariffs on steel imports, Liberty Energy Chief Executive Ron Gusek said on Thursday. A Dallas Federal Reserve survey on Wednesday showed executives are concerned that the levies could drive inflation in the oilfield, and raise drilling costs. Energy Secretary in February.
Energy Information Administration (EIA). Its Permian counties account for 95 percent of New Mexicos total production, with the rest coming from the San Juan Basin on the complete opposite side of the state. But Miller expressed doubt that the far left could ever be satisfied by anything short of the industrys complete demise.
President Donald Trump’s push for American energy dominance. million bpd from 2025, according to the Energy Information Administration’s Short-Term Energy Outlook released Tuesday. But several shale companies have warned that weak oil prices would take a toll on output, with drillers including Diamondback Energy Inc.
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