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PA IFO 1Q25 Report: Production Up 3%, NatGas Spot Price Up 117%

Marcellus Drilling News

Two days ago, the Pennsylvania Independent Fiscal Office (IFO) released its latest quarterly Natural Gas Production Report for January through March 2025 (full copy below). There were 93 new horizontal wells spud (drilled) in 1Q25, a decrease of 7 wells (-7%) compared to 1Q24.

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OMV Petrom, Romgaz Spud First Well at Neptun Deep in Black Sea (Video)

Offshore Engineer

OMV Petrom and Romgaz have spud of the first well for development and production of the Pelican South and Domino natural gas fields in the Neptun Deep block as part

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OMV Petrom, Romgaz Spud First Well in Neptun Deep Gas Project

Rigzone

The state-backed companies launched development drilling in the Neptun Deep gas block on Romania's side of the Black Sea, expecting to start production 2027.

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ReconAfrica to accelerate drilling plan for Namibia exploration well

Oil & Gas 360º

As a result of the progress to date, ReconAfrica has accelerated the spud date for Prospect I to Q2 2025. “We have made great progress in getting Prospect I ready to drill and, as a result, we are accelerating the spud date into Q2 2025, said Brian Reinsborough, President and CEO of ReconAfrica.

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Force Majeure Clause Fails to Protect Oil and Gas Lessee From Mistakenly-Scheduled Deadline

The Energy Law

2023), the Texas Supreme Court held that the lessee could not invoke a force majeure clause to save its oil and gas leases when it inadvertently scheduled its operations to begin after the requisite deadline. The lessee, MRC Permian Company, received four identical oil and gas leases from certain lessors in 2014.

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Lakes Blue Energy Secures Funding for Wombat-5 Drilling

Rigzone

Brent Crude $78.03 +1.73% Natural Gas $4.04 +1.35% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS Lakes Blue Energy Secures Funding for Wombat-5 Drilling by Paul Anderson | Rigzone Staff | Thursday, June 19, 2025 | 2:34 AM EST The funding is subject to Lakes' reinstatement to trading on the Australian Securities Exchange.

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Elk Range Royalties closes $905 million acquisition of DJ Basin assets

Oil & Gas 360º

The $905 million transaction significantly expands Elk Ranges presence in a premier oil and gas region and aligns with Elk Ranges strategy of acquiring attractive royalty assets in core basins. The high-quality operator footprint enhances production visibility and long-term value creation. billion in capital since its launch in 2020.

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