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(World Oil) – Africas national oil companies (NOC) are moving beyond operating as state-representatives by transforming themselves into competitive upstream players. Boosting production Major oil producers in Africa are striving to boost production and NOC-IOC collaboration is at the forefront.
Merge Electric Fleet Solutions is initiating a new pilot program to deploy fully-electric Ford F-150 Lightning trucks in the Permian Basin area, enabling oil and gas operators and service companies to test fully-electric pickup trucks, determine how they will meet drivers’ needs and confidently build a fleet electrification plan.
(World Oil) – Libyas oil and gas sector is set for a new era of growth and investment following the announcement of its first exploration bid round in 17 years. Offshore infrastructure projects are also advancing, including Enis Structures A&E Project, which channels gas from two fields to the Mellitah treatment plant.
(Oil Price) –The founder of Pioneer Natural Resources has a warning for the U.S. oil producersthe next two years will not be easy, and drill, baby, drill isnt happening at $50 oil price. Its really hard to make money at $50 oil, Sheffield told Bloomberg. That $50 oil is not going to work Earlier this week, U.S.
This report analyzes upstream oil and gas production trends over the last three years, based on data from Rextag Energy DataLink. MMBBL 193 BCF Analysis: Hilcorp leads in gas production but is less significant in oil output. EQT is notable for its gas-heavy production profile. in 2024.
SM Energy of Denver recently reported record oil production for 2024 and also a company record for yearend estimated net proved reserves. Oil production last year was 29.4 Reserves were comprised of 44 percent oil, 38 percent natural gas and 18 percent NGLs. Total production was 62.4
Houston-based Evolution Petroleum said last week it agreed to acquire non-operated oil and natural gas assets in New Mexico and Louisiana for $9 million. The acquisition extends Evolutions asset portfolio with about 440 boed of net production (60 percent oil, 40 percent natural gas). Closing is expected in 3Q.
The Permian Basin continues to be a driving force behind U.S. oil and gas production, and ONEOK Inc. Heres a breakdown of what was said about the companys investments and outlook for the basin. Heres a breakdown of what was said about the companys investments and outlook for the basin. Bcf/d in 2025.
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. per barrel of oil equivalent (boe) , up 15.6% to $328,000.
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%
Permian Basin reported 305 rigs (up 1 in past week, down 10 in past year). Eddy and Lea counties in New Mexico continue to lead Permian Basin with 51 rigs each. rig count up for fifth straight week; Permian Basin, Texas adds rigs appeared first on Permian BasinOil and Gas Magazine. The post U.S.
CERAWeek 2025 Insights ExxonMobils expansion in the Permian Basin took center stage during CERAWeek 2025 , where executives highlighted how technology is reshaping operations to maximize efficiency and production. million barrels per day (bpd) accounting for over 16% of the basins total production. energy production, contributing 6.26.3
Counts of active drilling rigs in Permian Basin, Texas and U.S. Also, there were 304 rigs in Permian Basin (down from 305 previous week, down from 313 year ago) and 281 in Texas (down from 282 previous week, down from 291 year ago). The post Counts of drilling rigs decline in Permian Basin, Texas, U.S.
Vitesse signed a deal to acquire Lucero, an oil and gas producer focused on the North Dakota side of the Williston Basin, in an all-stock transaction with a diluted equity value of $222 million.
Diamondback is one of the largest players in the Permian Basin, second only to Exxon Mobil, based on gross operated oil volumes. [1] billion deal represents one of the last significant private positions in the Midland Basin and leaves very few remaining opportunities for mid-sized operators to acquire high-quality inventory. [1]
The Delaware Mountain Group is a group of formations including the Bell Canyon, Cherry Canyon and Brushy Canyon formations, deposits in ancient canyons filled in over the ages, and are productive of oil and gas. These formations lie above parts of the Wolfcamp formation in the Permian Basin.
China's state-owned oil and gas firm China National Offshore Oil Corporation (CNOOC) has made a major breakthrough in the exploration of Paleozoic buried hills in the Beibu Gulf Basin
AI in oil and gas is propelling the industry to new heights. The oil and gas industry has always been driven by innovation, and today, artificial intelligence (AI) is pushing the sector into a new era of efficiency, precision, and profitability.
The partnership has agreed to create an Acquisition and Development Company ( ADC ) focused on delivering reliable, cost efficient, net-zero power from natural gas and captured coal mine methane ( CMM ) to meet the soaring demand of data centers for reliable power. and DANBURY, Conn.
The Permian is experiencing its first natural gas problem. Gas production is starting to exceed pipeline capacity exiting the Permian, and in-basin prices are falling as a result.
Examining the relationship between oil production and proppant , we see both the Delaware Basin (Figure 1) and Midland Basin (Figure 2) showing a production increase with proppant intensity. Figures 3 and 4 show the relationship between a wells nearest neighbor distance and its 1-year cumulative oil production per lateral foot.
.’s progress in reducing emissions over the past decade has come from investments made by the oil & gas industry? is because technological breakthroughs have resulted in increased domestic natural gas production to generate our nations electricity, largely replacing coal-fired generation. In fact, the No.
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.
This blog post provided information that NIOSH received from several sources indicating that acute exposures to hydrocarbon gas and vapors likely played a role in the deaths of at least four workers in the oil and gas extraction industry. The four workers were employed in the Williston Basin of North Dakota and Montana.
The Wolf Bone Ranch 'strategically expands LandBridge's position in Reeves and Pecos Counties, Texas, an important region for both oil and natural gas production, and provides access to the Waha Gas market hub'.
Denver-based Civitas Resources said last week it expanded its Permian Basin position with the purchase of operated assets in Howard, Glasscock and Upton counties in Midland Basin. Oil production for 2025 is forecast at 150,000 to 155,000 barrels per day. Forty percent of Permian activity is planned in Delaware Basin.
The State of Shale Oil & Gas — 2022 The Permian, Eagle Ford and Williston. These 3 basins are good for over 6.5 million b/d of US tight oil production (almost 85% of total US tight oil production). million b/d, which includes the Permian, Williston and Eagle Ford.
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. Pemex produced crude oil and condensate of 1.62 The post Pemex oil exports fall in January, including by 36 percent to U.S.
The second quarter of 2024 saw slight shifts in oil and natural gas activity, but major changes are looming on the horizon, according to new data from the Dallas Federal Reserve Energy Survey. ” The production indexes showed.
20 it completed its new Greenwood II plant in Midland Basin (275 million cfd) and its new Train 10 fractionator in Mont Belvieu (120,000 b/d). Also Targa recently commenced operations of its Bull Moose plant (275 million cfd) and front-end treater (800 million cfd) in Delaware Basin. Targa said Feb.
Permian Resources said 65 percent of 2025 operating activity will be focused in New Mexico and 30 percent in Texas in Delaware Basin and the remaining activity in Midland Basin. Fourth quarter production was 171,300 barrels of oil per day (368,400 boed).
As consolidators move to acquire acreage in core shale basins, smaller operators are looking for opportunities in underappreciated basins and fringe areas in core basins. Forecasting the Northwest Shelf of the Delaware Basin One of these new areas of interest is the Northwest Shelf of the Delaware Basin.
BANGL transports up to 250,000 barrels per day of natural gas liquids from Permian Basin in west Texas to fractionation markets on the Gulf Coast. The post MPLX to acquire remaining interests in BANGL pipeline from Permian to Gulf appeared first on Permian BasinOil and Gas Magazine. Closing is expected in July.
Ring is in the process of bolting on central basin platform assets from Lime Rock and is divesting expensive, non-core vertical wells. Ring drilled 5 horizontal wells and 4 vertical wells and completed 10 wells with all drilling and completion activity occurring in central basin platform. Capital expenditures in 4Q for Ring were $37.6
Todays TRADITIONAL SUPER BASINS of oil & gas will not meet the challenges of sustainability and achieving Net-Zero by 2050. These are the ENERGY SUPER BAINS; While the oil and gas industry’s past is.
At Rextag, we couldnt think of a better gift for our readers than a look back at the deals that shaped the oil and gas industry this year. So, while you sip your cocoa and enjoy the holiday glow, lets dive into the most impactful oil and gas deals of the yearcomplete with a festive bow and a little extra surprise at the end.
oil and gas sector trends in 2025. Here are some trends that Jeff Robertson, Managing Director at Water Tower Research , identifies as key forces shaping the oil and gas landscape next year. (1) Related: O&G Outlook for 2025 The post Energy Trends for 2025 appeared first on Permian BasinOil and Gas Magazine.
The Woodlands-based Ring Energy said last week it will acquire assets in central basin platform from Lime Rock Resources in a cash-and-stock deal valued at $100 million. The assets are comprised of 17,700 net acres with 2,300 boed (80 percent oil) net production from 101 gross wells.
The University of Texas Permian Basin’s annual Permian Basin Water in Energy Conference (PBWIEC) will convene March 46, 2025, offering opportunities for innovation, collaboration, and industry recognition. Conferees converse between sessions of the 2024 Permian Basin Water in Energy Conference.
From offices in Midland and Austin, Orion services oil and gas, food and beverage, refining, municipal water systems, and other industries. The post Whitewater acquires Orion Water Solutions for wastewater treatment appeared first on Permian BasinOil and Gas Magazine.
As we wrap up the year in December, were taking a moment to reflect on the early 2000s, when the oil and gas industry was booming with bold ideas and big changes. billion barrels of recoverable oil , a staggering prospect that set the stage for the U.S. million barrels of oil equivalent per day (boe/d) globally.
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