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(World Oil) – The methane intensity of oil and gas production in the Permian basin—an area responsible for half of U.S. The latest data for the year 2024 show the methane emissions intensity of upstream oil and gas operations in the region to be 0.44% per barrel of oil equivalent—a 29% reduction from the previous year. .
bp, which has pivoted away from its failed low-carbon strategy to focus more on fossil fuels, signed a memorandum of understanding to study reviving two huge oil fields in Libya, it said in a statement on Tuesday. bp’s agreement covers the Sarir and Messla oil fields, which were discovered in 1961 and 1971, respectively.
We built the digital environment down to the field level and enable our customers to test their best ideas.” Chevron produces crude oil and naturalgas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry.
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. for at least $120 million in cash. The assets to be sold hold about 463 million barrels of 2C resources, London-based Tullow said in a statement online.
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. Congratulations to John Ardill and the entire exploration team,” he continued.
“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 gasfields. NEO UK’s portfolio includes Penguins, Culzean, Gannet, Shearwater, Britannia Area and Elgin Franklin.
MBOE/d (24% oil, 52% naturalgas, 24% NGL), generating $241 million in revenue for the quarter. Notably, the Anadarko production mix is heavily naturalgas and NGLs , with only on the order of 14–16% oil – reflecting the liquids-rich gas character of the STACK’s Woodford/Meramec formations.
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. The company generated $71 million in net income , or $0.43
from Repsol E&P S.a.r.l. The Corridor PSC has seven producing gasfields and one producing oil field, all located onshore in South Sumatra, Indonesia, MedcoEnergi said. The Corridor PSC has seven producing gasfields and one producing oil field, all located onshore in South Sumatra, Indonesia, MedcoEnergi said.
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.
(World Oil) –MOL has discovered a new oil field near Somogysmson in Western Hungary. MOL has ambitious E&P investment plans. Over the next five years, the company plans to invest approximately HUF 150 billion in oil and naturalgas production in Hungary. billion m3) of domestic production.
(World Oil) – bp has received final government ratification for its contract to invest in the redevelopment of several giant oil fields in Kirkuk, in the north of Iraq. This is an enormous opportunity as we grow bps oil and gas business and fully aligned with our strategy of strengthening our upstream portfolio.
(Oil & Gas 360) –MIDLAND, TexasApril 29, 2025. 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. New Era Helium, Inc. Additional updates will be provided in the coming weeks.
Badawi emphasized the ministry’s commitment to supporting partnerships, overcoming challenges, and delivering tangible results within its strategy to boost domestic naturalgas production.
Now, while BP has made no special mention of naturalgas as a focus for its strategy, the overall shift in targets to refocus on the core business speaks volumes, and these volumes are not in favor of switching from hydrocarbons to electricity. Now, Shell is focusing on gas. BP is very much back.
As a regulator of the nation’s largest oil and naturalgas producing state, I’ve seen these scary headlines many times before, but here’s the good news: they are always wrong. The Permian basin has become one of the most productive oil fields in the world, Fig. Previous inaccurate predictions. 6 This is more than 5.6
billion cubic feet (BCF) naturalgas and 66.5 million barrels (MMBBL) condensate/naturalgas liquids (NGL) net to the company (un-risked). BCF naturalgas and 53.2 CanCambrias Field Development Plan (FDP) comprises a total of 100 wells, with two phases each comprising 50 well tranches.
The Acquired Assets include digitally enhanced mobile naturalgas conditioning and distribution units providing real-time gas monitoring and dual fuel optimization for remote, behind-the-meter power generation with applications across multiple markets. ProFrac Holding Corp. SOURCE Flotek Industries, Inc.
(BOE Report) –NEW YORK (Reuters Breakingviews) Oil fields are just as quick to make fortunes as break them. A mere two years later, over-extraction drove the field into decline. With even remote fields like Alaskas North Slope sputtering and the cost to find and extract an additional barrel of oil rising, collapse loomed.
(Oil & Gas 360) – CanCambria Energy Corp. 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.
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.
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.
Brent Crude $78.03 +1.73% NaturalGas $4.04 +1.35% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS Petronas Gets New Block offshore Suriname by Jov Onsat | Rigzone Staff | Thursday, June 19, 2025 | 7:53 AM EST The new acreage lies next to Petronas' Block 52, which contains the Fusaea, Roystonea and Sloanea discoveries.
The Austin Chalkan overlying bench above the Eagle Ford Shaleis fast becoming the next big naturalgas growth engine, with operators like EOG Resources, SM Energy, and Magnolia Oil & Gas ramping up development to meet rising LNG demand and domestic needs. The Austin Chalk is where the returns are right now, Vogel emphasized.
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? Upstream involves locating, surveying, drilling, and extracting crude oil and naturalgas from underground reservoirs.
Chevron Corporation, one of the worlds leading integrated energy companies, has announced the start of oil and naturalgas production from the Ballymore subsea tieback project, located in the deepwater Gulf of America. holding a 60% working interest, with TotalEnergies E&P USA, Inc. owning the remaining 40%.
(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). As a result, we are excited to be entering into a strategic MOU with ANPG.
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. The Diamondback drillbit remains Vipers biggest competitive advantage and the most visible source of long-term production growth at Viper.
By Robert E. Moreno On August 16, 2012, EPA published a new rule that revises the NESHAP Subpart HH standards for the oil and gas industry. Holden and Carlos J. The Final Rule wassigned on April 17, 2012, but publication in the Federal Register did not occur until August 16, 2012, making the rule effective on October 15, 2012. . §
The Austin Chalkan overlying bench above the Eagle Ford Shaleis fast becoming the next big naturalgas growth engine, with operators like EOG Resources, SM Energy, and Magnolia Oil & Gas ramping up development to meet rising LNG demand and domestic needs. The Austin Chalk is where the returns are right now, Vogel emphasized.
production increased versus the prior year, due to: Increased output from existing fields Higher ownership from new transactions in U.S. onshore gas assets during 2024 Renewables Production: Flat Performance Equinors renewable power generation in Q1 2025 was 0.76 TWh , the same as Q1 2024. Operating cash flow was $2.8 shale basins.
For accredited investors, direct investment in crude oil and naturalgas exploration provides an opportunity to diversify their portfolios and potentially tap into lucrative returns, as well as enjoy some significant tax benefits. What Are Direct Oil and Gas Exploration Investments?
. “Its a revolution in energy policy that is unfolding… The industry is trying to catch its breath,” said Dan Yergin, the Pulitzer Prize-winning author and vice chairman of conference organizer S&P Global, in an interview. Liquefied naturalgas (LNG) has been a bright spot in recent months.
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