Rigzone: News

FEBRUARY 20, 2025

million barrels of oil equivalent from year-end 2023 when excluding divestments and production. The figure is up 46.2

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Permian Basin Oil and Gas Magazine

MARCH 4, 2025

million barrels (80,200 barrels per day) up 23 percent from 2023. million boed (170,000 boed) up 12 percent from 2023. Estimated net proved reserves at yearend 2024 were 673 million barrels of oil equivalent, including 51 percent in south Texas, 34 percent in Midland Basin and 15 percent in Uinta Basin.

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Energy Central

OCTOBER 7, 2024

Are we really looking at a price tag of $100 for each barrel of oil? Oct 7, Written By Germán & Co Who is ultimately responsible?

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Rigzone: News

FEBRUARY 3, 2025

a barrel in the fourth quarter of 2024, down from $8.31 for the corresponding quarter in 2023. Phillips 66's realized refining margins averaged $6.08 for the prior quarter and $14.41

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Energy Central

APRIL 6, 2023

million barrels of oil per day at the end of last year. In this report, we will analyze the latest developments in the 4 largest US tight oil basins, which include the Permian, Williston, Eagle Ford, and the DJ. Together, these basins produced more than 7.2

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Permian Basin Oil and Gas Magazine

MARCH 7, 2025

Midland-based Permian Resources said last week it plans to increase production in 2025 by 8 percent to 360,000 to 380,000 boed and reduce well costs to $775 per lateral foot (compared to $800 in previous three months and $950 at yearend 2023). Fourth quarter production was 171,300 barrels of oil per day (368,400 boed).

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Valor

FEBRUARY 24, 2025

per barrel, while WTI dropped 28 cents to $70.12 per barrel, following a $2 decline on Friday. billion in 2023, prompting cost-cutting measures, a 5% staff reduction, and slashed executive bonuses. million barrels per day (bpd) in 2024 to 13.6 million barrels Summary : U.S. million barrels to 432.5

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Oil & Gas 360º

MARCH 11, 2025

lower-48-state crude oil production approached 13 million barrels per day (mmbd) five years ago (Figure 11, green dot). The rise to 160 rigs in January 2023 has production up at 118.5 Energy Information Administration data) U.S. crude oil supply growth smaller than what it has been/ what is expected fuels our bullish oil outlook.

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Energy Central

DECEMBER 26, 2023

On November 30, 2023, OPEC (Organization of the Petroleum Exporting Countries) and its allies, collectively known as OPEC+, agreed to cut oil production by 1 million barrels per day (bpd) starting in January 2024. This decision was driven by several factors, but it might be helpful to consider OPEC’s motivations.

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Energy Central

MAY 20, 2023

One of my 2023 energy predictions was “Total U.S. million barrels per day (bpd), and by the end of 2022 monthly production was just about back to that level following the devasting Covid-19 impact on the industry in 2020. oil production will again rise, and set a new annual production record.”

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Permian Basin Oil and Gas Magazine

MARCH 4, 2025

Crude oil exports by Pemex, Mexicos state-owned petroleum company managed and operated by the Mexican government, fell 44 percent in January 2025 compared to the same month last year to 532,404 barrels per day. Last year exports averaged about 811,000 b/d after more than 1,000,000 b/d in 2023. Sales to U.S.

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Oil Gas Leads

MARCH 4, 2025

per barrel , marking a 5.2% per barrel of oil equivalent (boe) , up 15.6% million barrels per day (bpd) , reflecting a 1.3% compared to 2023. year over year compared to December 2023. Energy Market Trends: Prices on the Rise Crude oil and natural gas prices saw notable increases in Q4. year-over-year increase.

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Energy Transfer

FEBRUARY 12, 2025

This was another strong quarter for Energy Transfer, with robust growth in adjusted EBITDA compared to Q4 2023. This was up 13% over 2023 and was a partnership record. billion, which was up 10% over 2023 and was also a partnership record. billion for the fourth quarter of 2023. billion for the fourth quarter of 2023.

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Reporting Oil and Gas

NOVEMBER 23, 2023

The OSP, in a letter dated November 21, 2023, and addressed to the Managing Director of TOR, Daniel Osei Appiah, said “it has commenced an analysis of the risk of corruption in respect of the proposed partnership.”

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Rextag

NOVEMBER 18, 2024

A Year of Growth, but Slower Than Before The International Energy Agency (IEA) has revised its forecast for global oil demand in 2024, projecting growth of 921,000 barrels per day (bpd) a slight increase from earlier predictions of 862,000 bpd. million bpd in 2023. million barrels a day increase seen in 2023. million bpd.

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Iraq Business News: Oil & Gas

FEBRUARY 6, 2025

According to a company statement this morning: " Net production climbed 50 percent year-on-year to 77,300 barrels of oil equivalent per day (boepd), to which Kurdistan contributed 59,000 boepd, North Sea 15,200 boepd and West Africa 3,100 boepd. "At License had been inactive since mid-2023 before testing.

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Orient Energy Review

MARCH 22, 2023

President Muhammadu Buhari has said that over 220 vessels involved in maritime criminality within Nigeria’s Exclusive Economic Zone, up to the Republic of Togo, between August 2018 and March 2023, have been prosecuted. By Bosco Agba

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The Energy Law

MARCH 15, 2023

20-0904, 2023 WL 2438927 (Tex. 2023), in which it held that lessees owed royalties in excess of their gross proceeds, specifically “adding back” costs incurred by third-party buyers that were enumerated in the sales contract and subtracted from the sales price. Sheppard , — S.W.3d

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Drillers

MARCH 24, 2020

billion barrels of proven oil reserves as well as 5.675 trillion cubic metres of natural gas, which explains why the supermajors are not too tired of their problems in Nigeria. According to estimates from human rights groups, millions of barrels have leaked or spilt in the Niger Delta over the years.

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Rextag

FEBRUARY 13, 2025

However, Looneys tenure ended abruptly in September 2023 over undisclosed personal matters. Focused capital on high-return hydrocarbon ventures such as Kaskida in the Gulf of America (aiming for 80,000 barrels of oil per day by 2029) and Tangguh UCC in Indonesia (the countrys first at-scale enhanced gas recovery with CCUS).

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Oilholics Synonymous Report

OCTOBER 4, 2024

The last few weeks have been relentless in terms of geopolitical developments and their impact on the oil market - albeit a somewhat oversupplied one with plenty of barrels to more than meet global demand. Photo I: Oil pump jack building block model at the AVEVA World 2023 Conference, Moscone Center, San Francisco, US. Gaurav Sharma.

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Rextag

FEBRUARY 17, 2025

If GDP grows at the historical rate, oil demand would be at least 10 million barrels per day (mmbd) higher by 2035 than the IEA forecasts. Only 3% of global truck sales in 2023 were electric, far below whats needed for meaningful change. Reality Check: Since 1973, global GDP has grown at an average of 3.2%

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Rextag

FEBRUARY 24, 2025

Over the past two years, 2023 and 2024, production levels have soared, investment strategies have shifted, and new regulatory frameworks have emerged. 2023 Production: ~6.0 2023 Production: ~6.0 billion in late 2023 further cemented its long-term commitment to the region. We analyze major U.S. 2024 Production: 6.3

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Rextag

JANUARY 16, 2025

STRATEGIC DIVESTMENT IN THE D-J BASIN Civitas D-J Basin assets, which produced an average of approximately 160,000 barrels of oil equivalent per day (boe/d) in the third quarter of 2024, could be sold in whole or in parts. However, Civitas has not confirmed these reports or responded to inquiries for comment.

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Oil Gas Leads

MARCH 13, 2025

In 2023, BP produced 434,000 barrels of oil equivalent per day (boepd) in its U.S. We have a fabulous position here in the Gulf of America, Auchincloss stated, referring to the companys 10 billion barrels of oil and gas resources in place within the Paleogene play.

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Energy Transfer

DECEMBER 23, 2024

Texas Rangers Announced a Multi-Year Agreement With Energy Transfer Texas Rangers and Energy Transfer expanded their partnership to include a multi-year deal in which Energy Transfer became the official jersey patch partner of the 2023 World Series Champion Rangers.

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Valor

MARCH 10, 2025

per barrel and WTI dropping 40 cents to $66.64, marking WTIs seventh consecutive weekly lossthe longest streak since November 2023. Meanwhile, US crude production averaged 13.508 million barrels per day for the week ending February 28, 2025, with WTI trading at $67.17 per barrel (up 1.22%) and Brent at $70.41

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Rextag

JANUARY 6, 2025

ENERGY SECURITY: THE CORNERSTONE OF GLOBAL STABILITY Fact: Global primary energy demand surged to 301 million barrels of oil equivalent per day (mboe/d) in 2023, and projections indicate it will rise to 374 mboe/d by 2050, marking a 24% increase over three decades. Record U.S. Shale Output: U.S. LNG Export Dominance: U.S.

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Enverus

MARCH 7, 2025

Al Salazar identifies several factors contributing to this trend: Oil consumption: Oil demand reached an all-time high in 2024, growing by 1 million barrels per day from 2023. Coal utilization: Particularly driven by demand in Asia, coal consumption set a record in 2023. “The world is getting older.

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