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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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Libya launches first oil exploration bid round in 17 years

Oil & Gas 360º

(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. This increase in production from existing fields underscores the countrys commitment to stabilizing and expanding its energy supply.

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Nigeria Oil Industry Overview

Drillers

Recently, the Nigerian government demanded more than $60 billion in back royalties under a production sharing agreement with the supermajors operating in the country. 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.

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DRBC Fracking Ban “A Travesty” for PA Landowners

Marcellus Shale Coalition

In a blow to Pennsylvania landowners, a judge recently dismissed a lawsuit aiming to overturn the Delaware River Basin Commission (DRBC)s ban on natural gas development within the watershed that robs private property owners of their right to realize the benefits of the energy beneath their feet.

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Oil & Gas in 2025: Which Basin Will Dominate U.S. Energy and What’s Behind the $105 Billion in Oil Deals?

Rextag

Now, as we step into 2025 , the industry faces critical questions : Which basins will see the most growth? oil & gas basins , the leading companies , and market trends using the latest data and forecasts. Natural Gas Production: 25.8 The Permian Basin remains the top destination for U.S. MMBbl/d , a 0.3

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Whitecap Resources, Veren to combine to form C$15 billion Canadian energy giant

Oil & Gas 360º

The combined company becomes the largest Canadian light oil focused producer and the seventh largest producer in the Western Canadian Sedimentary Basin, with significant natural gas growth potential. The combined company will continue to pay Whitecap’s annual dividend of $0.73

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Natural Gas Performs During Arctic Blast, Keeping Millions of American Homes Powered, Warm

Marcellus Shale Coalition

As our nation confronts challenges over energy reliability amid historic levels of power plant retirements, Pennsylvanias natural gas abundance and strong in-state fuel use is a model for a reliable, affordable, and cleaner grid. But natural gas barely registers in the queue for new generation power sources.