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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.
DIC Oil Tools is one of the leading Suppliers of Drill Pipes for the oil and gas industry. At DIC Oil Tools, we only use the most durable materials available for OCTG and drill pipe manufacturers. Let’s delve into what makes drill pipes so crucial and how they contribute to this complex process.
The initial results of the Fayoum 5 exploration well located in North Alexandria, which is in the west of the Mediterranean, showed the presence of a gas-bearing layer, and electrical recordings are being made in the coming days.
From Drill Bits to Drones: Innovations in Texas Oil and Gas Production Introduction: As the energy demand continues to grow, so does the need for more efficient and sustainable oil and gas production methods. As automation and AI transform production processes, machines will likely replace some jobs.
(Oil & Gas 360) –HOUSTON, TX, April 02, 2025 (GLOBE NEWSWIRE) — Prairie Operating Co. 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.
(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
Three key themes emerged from the update: major exploration success in the Gulf of Mexico, oil price commentary, and a demonstration of financial resilience. This shorter cycle time from drilling to production optimizes capital efficiency and improves returns.
DIC Oil Tools is a Brand by a Dedicated Impex Company. We provide the complete range of OCTG and other oil requirements with the highest quality standards in the industry. DIC all products are tested numerous times under technical guidance and are made from Premium quality material. DIC is an Exporters of OCTG Pipes Worldwide.
Upstream Midstream Downstream are terms commonly used in the oil and gas industry to describe different stages of the production and distribution process. Each sector has distinct activities and focuses on specific aspects of the overall oil and gas supply chain. What is oil and gas upstream midstream downstream?
Amid this backdrop, a growing number of Florida investors are turning to alternative investments, particularly direct investing in oil and gas drilling projects. Despite the push towards renewable energy sources, fossil fuels remain integral to the energy mix, and the demand for oil and gas is expected to persist for decades.
Tangible Drilling Costs (TDC) are expenses associated with the physical aspects of drilling for oil and natural gas. These costs are directly related to the actual drilling operations and typically represent a significant portion of the overall expenses in oil and gas exploration and production.
Accurate Daily Drilling Reports (DDR) are essential for optimizing drilling operations, tracking costs, and ensuring project efficiency. In this blog, well explore the most common pitfalls in DDR reporting and how companies can improve their data collection and cost tracking. Share your thoughts in the comments below!
Cactus Drilling remains one of the most active drilling contractors in the U.S., playing a crucial role in oil and gas development across key basins. As of this year, a total of 120 wells have been drilled by Cactus rigs, demonstrating strong industry demand and continued investment in drilling operations.
Intangible Drilling Costs (IDCs) play a crucial role in oil and gas investments, offering significant tax advantages that can enhance profitability for investors. These costs cover expenses that arent tied to physical equipment but are essential to drilling operations, such as labor, fuel, and site preparation.
A Multi-Pronged Strategy to Sustain Growth Beyond Tight Oils Crown Jewel The transformation of the United States into a global energy powerhouse over the past two decades is inseparable from the fracking-led renaissance of the Permian Basin. million b/d of production before reaching a plateau of 7.7 tight oil plays.
But Giustra brought in a new operating team, and led the initial finance rounds into West Red Lake Gold Mines (WRLG-TSX) —and now, VOILA—they just announced commercial production. Having all these past benefits ready to go saves time and money in getting to production: 1. But don’t kid yourself, this is exploration—it’s risky.
(World Oil) – Brazils state-controlled oil producer Petrobras approved dividends slightly below expectations amid a trade war that has created economic uncertainty and undermined oil prices. Petrobras is sticking with its plans to expand oilproduction, along with other international oil majors including Exxon Mobil Corp.,
(World Oil) – Drillers in Canadas energy heartland of Alberta are shifting their focus to natural gas as the global trade war and an OPEC+ plan to increase output hammer crude prices. For oil wells, the number fell 24% to 293, the lowest since 2021. Nearly all of its oil and much of its gas is exported to the U.S.
That, in turn, could further hit Liberty and other oilfield service providers earnings by forcing their oil-producing customers to slow drilling activity. As we get a letter that says that (costs will rise), we share that letter with our customers and ask them to absorb that cost, Gusek told Reuters in a phone interview.
(World Oil) – The U.S. sees domestic crude production declining next year for the first time since 2021 in a blow to U.S. The production forecast for next year represents a drop of 120,000 bpd from the agency’s previous projections in May. saying production has already peaked. saying production has already peaked.
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