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U.S. oil production grows to 13.2 million b/d in 2024, Permian up to 6.3 million b/d

Permian Basin Oil and Gas Magazine

crude oil production grew by 270,000 barrels per day in 2024 to average 13.2 EIA reported, In 2024 the Permian region … produced more crude oil than any other region, accounting for 48 percent of total U.S. crude oil production. crude oil production. Energy Information Administration.

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Upstream Midstream Downstream – What is the Difference?

Aresco

What is oil and gas upstream midstream downstream? Upstream involves locating, surveying, drilling, and extracting crude oil and natural gas from underground reservoirs. Midstream activities involve the transportation, storage, and wholesale marketing of oil and gas.

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Oklahoma Operations of Key Oil & Gas Companies (2025)

Oil Gas Leads

(private) (N/A – private; high gas focus) (N/A – private) ~7–9 rigs in Oklahoma (2025) (21 wells drilled in 2023) Note: MBOE/d = thousand barrels of oil equivalent per day. Liquids” includes crude oil and NGLs. Indeed, industry data indicates Ovintiv added an extra rig in Oklahoma early 2025 as gas prices improved.)

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U.S. Rig Count Rises – Baker Hughes

Oil Gas Leads

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. crude production is expected to increase to approximately 13.6

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Strathcona announces sale of Montney business for $2.84 billion and acquisition of Hardisty Rail Terminal

Oil & Gas 360º

This press release contains various references to the abbreviation boe which means barrels of oil equivalent. All boe conversions in this press release are derived by converting gas to oil at the ratio of six thousand cubic feet (mcf) of natural gas to one barrel (bbl) of crude oil.

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Saturn Oil & Gas Inc. provides Q1/25 capital program update and accelerates debt repayment with US$15 million senior note repurchase and cancellation

Oil & Gas 360º

OUTLOOK During the second quarter, Western Canada is subject to spring break-up conditions, when the ground is too soft to mobilize drilling rigs or other heavy equipment due to melting snow. IP30 rates cited herein are comprised of over 97% light crude oil and just under 3% natural gas.

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What Comes After the Permian for IOCs? A Basin of Enormous Value

Rextag

Once considered a mature and declining conventional oil play at the start of the 21st century, the Permian has grown into a global energy giant, second only to Saudi Arabia in crude oil and condensate production. In 2025, crude and condensate output is projected to rise by 200,000 barrels per day (b/d), reaching 6.6

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