News
February 12, 2024
The two companies, headquartered across the street from one another in Midland, the heart of the Permian basin, will have a combined 838,000 net acres and have net production of 816,000 boe, according to the statement.
News
February 11, 2024
Rocky Mountain oil and gas company Zephyr Energy plc provided an update on its project in the Paradox basin, Utah, and its non-operated project in the Williston basin, North Dakota.
News
February 09, 2024
Production from the basin is set to reach 6.4 MMbpd at the end of this year, up from 6.1 MMbpd at the end of 2023, Plains All American Pipeline LP said in its fourth-quarter earnings presentation. The growth will happen due to drilling efficiencies even as the number of rigs remains stable, Chief Financial Officer Al Swanson said.
News
February 08, 2024
Enerplus shares surged as much as 10%. The company, which has a market value of about $4.1 billion, operates primarily in the Bakken shale basin of North Dakota and in the Marcellus region in Pennsylvania.
News
February 08, 2024
Diamond Offshore Drilling, Inc. has executed a two-year contract extension with a subsidiary of bp in the U.S. Gulf of Mexico for the Ocean BlackLion, commencing in September 2024. Additionally, the company has entered into a drilling contract with Serica Energy (UK) Limited to utilize the Ocean Patriot for two plug and abandonment (P&A) wells in the U.K. North Sea.
News
February 07, 2024
As acquisition deals continue to mount in West Texas’ Permian basin – $144 billion in the fourth quarter of 2023 – interest is turning to basins like the Eagle Ford, Haynesville, Barnett and others. 
News
February 07, 2024
Production in California has been falling for years even as other U.S. basins are still enjoying growth. The transaction will add large, producing assets to the driller’s portfolio, with executives eyeing opportunities to eventually increase oil recovery at the combined company.
News
February 06, 2024
The purchase increases Vital Energy’s working interest in 54 producing, low-decline wells in the Permian basin by an average of 67%, increasing the company’s estimated 2024 production by approximately 1,850 boed (51% oil) and estimated 2024 Free Cash Flow by approximately $25 million.
News
February 06, 2024
Tellurian produced 19.5 Bcf of natural gas for the quarter ended September 30, 2023. Tellurian’s natural gas assets include 31,149 net acres, interests in 159 producing wells and over 400 drilling locations.
News
February 05, 2024
Overall, Permian Resources’ portfolio optimization efforts added approximately 17,000 Permian net acres, 7,300 Permian net royalty acres and over 200 high-quality, gross operated locations in the core of the Delaware basin.
News
February 05, 2024
The oil and gas industry recently participated in the Gulf of Mexico Lease Sale 261, where blocks within the survey area attracted 16 winning bids and a total bid value of more than $40 million. The Engagement 5 dataset will support existing and new leaseholders as well as regional operators with the most technically advanced subsurface imaging.
News
February 04, 2024
The upbeat reports by North America’s biggest crude drillers, fueled by strong output growth from the Permian Basin, follow similar results at Shell Plc, which kicked off the oil and gas industry’s earnings season on Thursday with adjusted net income that was more than $1 billion higher than the average forecast
News
February 04, 2024
The recoverable oil volume for the Cambriol G-92 discovery is estimated to be 340 MMbbl.
News
February 02, 2024
Chevron is targeting 10% growth this year, more than twice the pace of publicly traded independent oil companies, setting it on course to pump 1 MMbpd from the region in 2025. Exxon sees production growth of nearly 7%, but is expected to double its overall output once it completes the $60 billion of Pioneer Natural Resources Co. by mid-year.
News
February 01, 2024
Silver Hill Energy Partners will acquire Liberty’s producing assets in North Dakota’s Bakken region, where Libery’s net production in December 2023 was approximately 13,000 boed (76% oil, 86% liquids). Silver Hill will also acquire Liberty’s PDP reserves of approximately 16 MMboe.
News
February 01, 2024
Oil and gas proved reserves at Dec.31, 2023 were 1.37 Bboe, compared with 1.26 Bboe at Dec. 31, 2022. Proved reserve additions and net revisions in 2023 totaled 261 MMboe, primarily from Guyana, which included sanctioning of the Uaru development, and from the Bakken.
News
January 24, 2024
These two campaigns resulted in the successful acid treatments of a combined six wells. The wells ranged in water depth from 6,500’-7,200’.
News
January 23, 2024
Among unconventional oil resource plays in the U.S., the Permian stands well atop the heap for remaining resource, offering both the most high-quality remaining drilling opportunities and the greatest potential for resource expansion from the prolific region’s stacked resource benches.
News
January 22, 2024
Recent estimated production for the fields has ranged from approximately 3,700 to 5,700 boed (around 68% liquids). W&T plans to implement a series of workovers, recompletions and general maintenance work that the Company expects will increase total production from the fields.
News
January 20, 2024
Production across the U.S. was curtailed by about 10 MMbbl this week, according to market participants who asked not to be named because the information is private.
News
January 20, 2024
Chevron plans to shed all of its 70% stake in the Western Alberta oil and natural gas play, spokesman Braden Reddall said in an email.
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