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oil production and one fifth of natural gas—declined by more than 50% during the 2022-2024 period as improved operations, better equipment and the utilization of AI and other advanced technologies led to reductions across all observable plume rates (large and small), according to a new analysis by S&P Global Commodity Insights.
(BOE Report) – Giant shovels, driverless trucks and a dog-like robot have all helped Canada’s oil sands companies including Imperial Oil and Suncor become some of North America’s lowest-cost oil producers, driving down overheads even as the worst inflation in a generation pushed U.S. shale costs up. and Canadian company earnings.
Large public E&Ps are consolidating premium inventory in core regions like the Permian, where high-quality assets are scarce and valuations are steep. Large public E&Ps are consolidating premium inventory in core regions like the Permian, where high-quality assets are scarce and valuations are steep.
His earlier experience includes field operations, engineering, and human resources across North America, South Asia, and the Middle East. Ron holds a B.Sc. Ron is a runner, cyclist, hiker, skier, and occasional adventure racer. Ron is a devoted husband to Jodi and a proud father to their two daughters. from 2018-2024.
The transaction involves the sale of the shares of Tullow Kenya BV by Tullow Overseas Holdings BV to Gulf Energy’s Auron Energy E&P Ltd. The assets to be sold hold about 463 million barrels of 2C resources, London-based Tullow said in a statement online. for $300 million in cash, net of tax.
“This strong asset base will enable the company to continue to deliver operational efficiencies while pursuing organic growth” Repsol UK holds interests in 48 producing and non-producing oil and gas fields. The contract also covers decommissioning. announced a deal to consolidate their UK North Sea assets.
Wood Mackenzie noted in its release that ExxonMobil found over eight billion barrels of new field resources on a net equity basis since 2015, which it said is more than any other company over the decade. “The company has set a new benchmark in opening up a deepwater frontier at pace.
Vertice management said that the acquisition enhances Vertices’ ability “to support wireline service providers and E&P companies with innovative tools and integrated solutions, and broadens its presence across unconventional oil and gas markets.” It’s been a momentous 2025 for the wireline niche. based RPC Inc.
Top 10 Oparators in Oklahoma by Wells Drilled (June 2025) Company Oklahoma Production Oklahoma CapEx Active Rigs (Drilling) Ovintiv ~91 MBOE/d (Q1 2025; ~55% liquids) ~$300–$325 MM planned 2025 ~1–2 rigs (added one in early 2025) Mach Natural Resources (Mach) ~86.7 By year-end 2024, Mach had 5 net wells in progress and one active rig.
Field Efficiency Meets Tech Breakthroughs CEO Ron Gusek credited Liberty’s integrated service model and field execution for the quarter’s solid financials, citing record operational efficiencies and high equipment utilization. Liberty Energy Inc. The company generated $71 million in net income , or $0.43
In particular, Viaro will prioritise the development of the Selene discovery – one of the largest gas fields in the UK Southern North Sea in the past decade. If successful, Blackadder has the potential to add to near-term production and extend the life of surrounding host facilities.
from Repsol E&P S.a.r.l. The Corridor PSC has seven producing gas fields and one producing oil field, all located onshore in South Sumatra, Indonesia, MedcoEnergi said. The Corridor PSC has seven producing gas fields and one producing oil field, all located onshore in South Sumatra, Indonesia, MedcoEnergi said.
Skip to main content Seizing the agentic AI advantage June 13, 2025 | Report A CEO playbook to solve the gen AI paradox and unlock scalable impact with AI agents. (28 28 pages) At a glance Nearly eight in ten companies report using gen AIâyet just as many report no significant bottom-line impact. This shift enables far more than efficiency.
In collaboration with the NOC, TotalEnergies has achieved a 20% increase in production at the Waha field; Repsol plans to drill nine new prospects in 2025; while Eni is planning four exploration wells in 2025. Unlocking new E&P markets A slate of discoveries in recent years have opened up new oil and gas plays across the continent.
The Nigerian National Petroleum Company Limited (NNPC Limited) and FIRST Exploration & Petroleum Development Company Limited (FIRST E&P) Joint Venture (JV) have confirmed a significant hydrocarbon discovery in the Songhai … Read More The post NIGERIA: First E&P Reports Significant hydrocarbon Discovery in the Songhai Field, OML 85 (..)
(World Oil) –MOL has discovered a new oil field near Somogysmson in Western Hungary. MOL has ambitious E&P investment plans. During the exploration drilling carried out in December 2024, oil was found at a depth of 1,250 meters. According to the results, the well has potential to produce 1,200 bpd.
The Nigerian National Petroleum Company (NNPC) and its joint venture (JV) partner FIRST Exploration & Petroleum Development Company (FIRST E&P) have confirmed a
The legacy system, owned and operated by a third party, experiences approximately 25% Field Loss and Unaccounted For (FL&U) gas, leading to substantial financial and environmental impacts. (Oil & Gas 360) –MIDLAND, TexasApril 29, 2025. New Era Helium, Inc. Additional updates will be provided in the coming weeks.
TSXV: CCEC ) ( FSE: 4JH ) is pleased to announce that it has been granted its first drilling permit from the Hungarian Mining Directorate for the CC- Ba-E-2 appraisal well at its 100% owned Kiskunhalas tight gas project in Hungarys Pannonian Basin. (Oil & Gas 360) – CanCambria Energy Corp. About CanCambria Energy Corp.
(NASDAQ: ACDC) (“ProFrac”) today jointly announced Flotek’s acquisition of power generation assets and related intellectual property (the “Acquired Assets”) from ProFrac GDM, LLC (“ProFrac GDM”), a subsidiary of ProFrac, for $105 million.
Upstream Investments; Exploration and Production (E&P): The upstream sector involves the search for oil and gas reservoirs and the extraction of these resources. Investment opportunities in this area include direct investment in E&P companies, partnerships, and joint ventures.
Infrastructure constraints , especially in remote fields like Sunrise, Altares, and Town. Whether youre a directional driller, frac crew, water hauler, or E&P investor knowing where the backlog is can be the key to targeting the right accounts and fields for the months ahead. The result? Whats Driving the Delay?
Additionally, the two oil and gas leaders reviewed opportunities for Halliburton to enter the field of exploration and production (E&P) through the opportunities available on Egypt Upstream Gateway (EUG). The meeting further discussed leveraging Halliburton’s expertise in developing brownfields.
By Leta Seletzky : In Seagull Energy E & P, Inc. Railroad Comm’n, No. 03-0364, 2007 WL 1299163 (Tex. The petitioner also asserted that the Commission’s denial of the permit amounted to an unconstitutional taking of gas in the sand from which the well would produce.
(the Company or ReconAfrica) (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) (NSX: REC) announces an agreement for a joint exploration project in Angola with the Agncia Nacional de Petrleo, Gs e Biocombustveis or National Oil, Gas and Biofuels Agency (ANPG). ANPG is Angolas national concessionaire and regulator.
The discovery “involved a small quantity that was initially seen as commercially unattractive to develop into a production field”, Staatsolie said. Petroliam Nasional Bhd.’s ’s (Petronas) new license area, Block 66, spans about 3,390 square kilometers (1,308.89 square miles). Paradise Oil Co.
The field represents Chevrons first development in the Norphlet geological trend, highlighting its expanding technical reach and exploration success in the region. holding a 60% working interest, with TotalEnergies E&P USA, Inc. holding a 60% working interest, with TotalEnergies E&P USA, Inc.
Our combined company will include exceptional technical and support personnel from the two companies in both the office and field and an experienced Board of Directors that prioritizes sustainable and profitable growth to generate strong returns for our combined shareholders. common shares of Whitecap for each Veren common share held.
This transaction positions Viper to compete for capital with mid and large cap North American E&Ps; except with higher margins, minimal operating costs, and the lowest dividend breakeven in the space. (Oil & Gas 360) –MIDLAND, Texas, June 03, 2025 (GLOBE NEWSWIRE) — Viper Energy, Inc. billion as of March 31, 2025.
Leading producers include: EOG Resources SM Energy Magnolia Oil & Gas Lewis Energy Group Crescent Energy Kimmeridge Texas Gas (KTG) GeoSouthern Energy II New entrants like Black Mountain Oil & Gas , Rosewood Resources , and Mitsui E&P USA have also joined the play, according to Texas Railroad Commission (RRC) filings.
Upstream: Activities: Upstream refers to the exploration and production (E&P) phase of the oil and gas industry. Assets: Upstream assets include oil and gas fields (land and mineral rights), drilling rigs, production platforms, and wells. It also includes the distribution and sale of these products to consumers.
By Robert E. See Lesley Foxhall Pietras , Air Permitting: Sixth Circuit Vacates Single Stationary Source Aggregation Determination for E&P Facilities Due to EPA’s Unreasonable Interpretation of Adjacent , The Energy Law Blog, Aug. Holden and Carlos J. 7412 (n)(4)(A).Section 7412(n)(4) (emphasis added); see also 40 C.F.R.
The advantage for minerals firms is that they have no investment in equipment or drilling costs, as do E&Ps. The challenge is that they must still do geological research on formations, and then predict where the E&P is planning to drill. Click here to listen to the Audio verison of this story!
On June 2, 2017 the Louisiana Second Circuit Court of Appeal affirmed a trial court’s judgment cancelling a mineral lease under Mineral Code article 140 and provided further clarity on a production in paying quantities analysis under Louisiana Mineral Code article 124. [1] 1] The dispute in Gloria’s Ranch, L.L.C. Tauren Exploration, Inc.
Leading producers include: EOG Resources SM Energy Magnolia Oil & Gas Lewis Energy Group Crescent Energy Kimmeridge Texas Gas (KTG) GeoSouthern Energy II New entrants like Black Mountain Oil & Gas , Rosewood Resources , and Mitsui E&P USA have also joined the play, according to Texas Railroad Commission (RRC) filings.
Anadarko E&P Onshore, LLC, 520 S.W.3d " • More recently in Regency Field Servs., Anadarko E&P Onshore, LLC, 520 S.W.3d " • More recently in Regency Field Servs., This dispute involved 160 acres in Matagorda County, Texas. Can a Cavern Be Owned? West, 508 S.W.2d 2d 812, 815 (Tex.
production increased versus the prior year, due to: Increased output from existing fields Higher ownership from new transactions in U.S. production increased versus the prior year, due to: Increased output from existing fields Higher ownership from new transactions in U.S. TWh , the same as Q1 2024. TWh , the same as Q1 2024.
Procedural History The case was originally tried in a forty-one day bench trial by Judge John P. On March 29, 2018, the United States Court of Appeals for the Third Circuit issued its ruling in In re: Petition of Frescati Shipping Co., as Owner of the M/T ATHOS I , Nos. 16-3552, 16-3867 & 16-3868 (3d Cir. 2701, et seq.
Initially reliant on manual calculations and empirical methods, the field evolved dramatically with the introduction of digital computing in the mid-20th century. The Evolution of Reservoir Engineering Reservoir engineering has long been defined by its response to technological change. In a 2025 review published in Energies , Pan et al.
Direct investments in crude oil and natural gas generally involve purchasing interests in exploration and production (E&P) companies, owning working interests in oil and gas wells, or investing in partnerships that develop and operate oil fields. Tax Advantages: The U.S.
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