Shale oil wraps up an underwhelming year, girds for lower growth
U.S. oil production this year will rise by an average of 620,000 barrels per day, according to the latest government estimates, a third less than the roughly 1 million bpd some forecasts called for at...
View ArticleEPA backs off plans for non-attainment designation of portions of Permian Basin
For reasons that have not yet been made public, on Wednesday the EPA omitted the policy from its agenda of planned regulations, deeming the measure inactive.
View ArticleOil & gas industry earned record profits in 2022 as momentum is expected to...
North American oil & gas industry for 2023 looks to be an ever better year than 2022 according to a recent report from Deloitte, an industry audit, consulting, tax and advisory firm.
View ArticleChesapeake Energy to reduce drilling amid natgas price slump
Will drop two rigs in the Haynesville region that covers parts of Texas, Arkansas and Louisiana this year, and one rig in Marcellus shale of Pennsylvania and West Virginia.
View ArticlePermian in spotlight as energy dealmaking gathers steam
Companies with a focus on the oil-rich Permian basin are likely to be at the center of the next wave of consolidation in the U.S. energy sector as favorable oil prices prompt cash-rich drillers to tap...
View ArticleWhat is OPEC+ and how is it different from OPEC
The Organization of the Petroleum Exporting Countries, also known as OPEC, was formed in 1960 by Iraq, Iran, Kuwait, Saudi Arabia, and Venezuela.
View ArticleNatural gas production in the Permian region established a new record in 2022
nnual gross natural gas production in the Permian region, which extends across western Texas and eastern New Mexico, has been rising steadily for over a decade and continued to grow in the first four...
View ArticleThe number of operating U.S. natural gas rigs has declined 24% since start of...
The decline in active drilling rigs coincides with lower natural gas prices for most of 2023, compared with relatively high natural gas prices for most of 2022.
View ArticleHalliburton, Oil States Industries collaborate on deepwater managed pressure...
Halliburton Company and Oil States Industries, Inc. announced a strategic collaboration that combines two technology sets to provide customers with deepwater managed pressure drilling (MPD) solutions.
View ArticleUpstream Texas oil and natural gas sector grows by additional 2,200 jobs in...
These new numbers extend the strength of 2023’s job growth to date, with 16,500 jobs added so far this year.
View ArticleAssociated natural gas production has tripled since 2018 in top three Permian...
Production of associated-dissolved natural gas, or associated natural gas, which is natural gas produced from predominantly oil wells, has nearly tripled since 2018 in the three top-producing tight oil...
View ArticleTexas oil and natural gas industry continues dominance by setting new...
In October and November, Texas achieved record-high crude oil production of 5.7 million barrels per day (mb/d), alongside a new high in natural gas marketed production at 33.6 billion cubic feet per...
View ArticleCalifornia and Big Oil are splitting after century-long affair
It is the end of an era for Big Oil in California, as the most populous U.S. state divorces itself from fossil fuels in its fight against climate change.
View ArticleTellurian explores sale of Haynesville upstream assets
Tellurian’s natural gas assets include 31,149 net acres, interests in 159 producing wells and over 400 drilling locations.
View ArticleMore productive wells spur U.S. crude oil production higher
U.S. crude oil production averaged 13.3 million barrels per day in December 2023, following sustained productivity increases at new wells, according to the EIA's latest Petroleum Supply Monthly.
View ArticleU.S. produces more crude oil than any country, ever
Crude oil production in the United States, including condensate, averaged 12.9 million barrels per day (b/d) in 2023, breaking the previous U.S. and global record of 12.3 million b/d, set in 2019.
View ArticleZephyr Energy announces start of well drilling operations
Drilling operations are expected to take approximately 30 days. After reaching TD and setting a production liner, the Rig will be demobilized and the well will be prepared for production testing.
View ArticleRepsol explores sale of minority stake in South Texas oil assets
Spanish oil major Repsol plans to sell a minority interest in its Eagle Ford shale assets in South Texas, in a deal that could value the assets at up to $2 billion.
View ArticleKosmos Energy announces first oil production at Winterfell in the U.S. Gulf...
Kosmos Energy Ltd. announced the successful start-up of oil production at the Winterfell development in the Green Canyon area of the U.S. Gulf of Mexico.
View ArticleEnergy Transfer and Sunoco announce Permian Basin JV
The joint venture will operate more than 5,000 miles of crude oil and water gathering pipelines with crude oil storage capacity in excess of 11 million barrels.
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