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SM Energy reports record proved reserves, including 34 percent in Midland Basin

Permian Basin Oil and Gas Magazine

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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EIA: Rigs deployed to drill for natural gas in U.S. decline last two years

Permian Basin Oil and Gas Magazine

Energy Information Administration said last week the number of rigs deployed to drill for natural gas declined over the last two years. natural gas-directed rigs decreased 32 percent between December 2022 and December 2024. benchmark Henry Hub natural gas price reached a 14-year high of $6.95 After the U.S.

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A Tale of Two Basins: Colorado regional oil and gas pollution differences highlight need for action on the West Slope

Energy Central

By EDF Blogs By Nini Gu Data recently collected by EDF’s MethaneAIR project in 2023 reveals a striking difference in the emissions profiles between the two major Colorado basins: the Denver-Julesburg (D-J) in the east, and the Piceance in the west. The D-J Basin exhibited a 1.7%

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Permian Basin Economic and Energy Update: Q4 2024

Oil Gas Leads

The Permian Basin continues to demonstrate resilience and growth as we close out the fourth quarter of 2024. oil and gas sector. Below, we analyze the latest data on oil and gas prices, production, labor market trends, and the housing sector. Natural gas prices also saw strong growth, with Henry Hub natural gas averaging $14.17

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Strategies for Operators to Stay Ahead in a Hot M&A Market

Enverus

Diamondback is one of the largest players in the Permian Basin, second only to Exxon Mobil, based on gross operated oil volumes. [1] Although the recent Diamondback deal sets a new benchmark at $7 million per location, exceeding a comparable 2023 Permian deal of OXY’s CrownRock acquisition at $4.8 7] Acquire gas assets.

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Highlights from Energy Transfer’s 2023 Corporate Responsibility Report

Energy Transfer

Our 2023 Corporate Responsibility Report highlights our successes, including our operational results, pipeline safety programs, risk management, and emissions reduction programs, among others. billion in organic growth projects, including an eighth fractionator at Mont Belvieu NGL Complex and a new processing plant in the Permian Basin.

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Permian Resources plans to increase production in 2025 by 8 percent

Permian Basin Oil and Gas Magazine

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). Co-CEO James Walter said Feb.

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