Texas Pacific Land Corporation acquires Permian mineral interests and surface...
Texas Pacific Land Corporation announced the closing of two acquisitions for oil and gas mineral interests and surface acreage located in the Permian Basin for an aggregate $169 million in cash.
View ArticleDevelopment of new fields in GOM to offset production decline in 2024 and 2025
EIA forecasts that Gulf of Mexico (GOM) production will remain relatively flat with new fields offsetting the natural production declines from existing fields.
View ArticleNext Bridge Hydrocarbons announces Letter of Intent to acquire Louisiana...
Next Bridge announced the signing of a Letter of Intent between Next Bridge and McCabe Petroleum Corporation (MPC) to transfer and assign MPC's 40% ownership in the Louisiana Heritage Play (LHP) to...
View ArticleExxonMobil seeks buyers for portion of assets in North Dakota's Bakken shale
Following a wave of megamergers in U.S. shale patches, oil producers are reviewing their portfolios to decide which assets remain core to their strategy and which to divest.
View ArticleShare of natural gas production in U.S. tight oil plays increased over the...
Natural gas comprised 40% of total production from the Bakken, the Eagle Ford, and the Permian compared with 29% in 2014.
View ArticleU.S. associated natural gas production increased nearly 8% in 2023
The Permian Basin in West Texas and southeastern New Mexico accounted for 46% of U.S. crude oil production in 2023 and was the largest source of U.S. associated gas production last year at 11.5 Bcf/d.
View ArticleTexas oil and natural gas: Resilience amid global shifts
Three quarters into 2024, TXOGA’s monitoring of global, U.S. and Texas economic indicators shows continued resilience.
View ArticleImproving well productivity helps U.S. oil companies increase production at a...
Increasing well productivity, primarily due to advances in horizontal drilling and hydraulic fracturing technologies, has been a key driver in U.S. crude oil production growth.
View ArticleImproved efficiency is enabling record U.S. crude oil production from fewer rigs
Crude oil production in the L48 states increased 3% year over year despite fewer active rigs in most major producing regions, demonstrating gains in operational efficiency.
View ArticleSLB awarded multi-region deepwater contracts by Shell
The projects, which will be delivered over a three-year timeframe, will combine SLB’s AI-enabled digital drilling capabilities with its expertise in ultra-deepwater environments.
View ArticleTrump U.S. energy emergency order should withstand court challenges
Trump has said the declaration will speed permitting and approval of energy projects to fix what he has called an inadequate and unaffordable U.S. energy supply.
View ArticleEcopetrol, OXY extend development plan in the Permian Basin
This agreement, reached by the companies, includes a drilling plan for 34 wells between April 2025 and June 2026, in addition to those being executed under the current development plan for the first...
View ArticleColombia's President calls for sale of Ecopetrol U.S. fracking operations
Colombian President Gustavo Petro called for the sale of state oil firm Ecopetrol's fracking operations in the United States to invest in clean energy.
View ArticleEnergy Fuels, Chemours forming alliance to create supply chain of critical...
Energy Fuels Inc. and The Chemours Company announced they are forming a strategic alliance to expand the companies' existing relationship to enhance U.S. domestic rare earth and critical mineral supply...
View ArticleTG Natural Resources acquires majority stake in Chevron’s East Texas gas assets
TG Natural Resources announced that it has closed on a transaction to acquire a 70% interest in the East Texas gas assets of Chevron for $525 million.
View ArticleChevron to 'triple-frac' half of Permian oil wells in 2025 to cut costs, time
Chevron's expansion of the technique, known as triple-frac, comes as the second-largest U.S. oil producer expects to continue growing output in the Permian, the biggest U.S. oilfield, even as it begins...
View Articlebp announces oil discovery in the Gulf of America
bp drilled the exploration well in Green Canyon Block 584, located in western Green Canyon approximately 120 miles off the coast of Louisiana in 4,092 feet of water.
View ArticleEagle Ford natural gas production increases as crude oil production holds steady
EIA forecasts U.S. annual natural gas production from the Eagle Ford region in southwest Texas will grow from 6.8 billion cubic feet per day (Bcf/d) in 2024 to 7.0 Bcf/d in 2026.
View ArticleU.S. natural gas production remained flat in 2024
Production growth in the Permian was offset by declining production in the Haynesville and relatively flat production in Appalachia.
View ArticleU.S. crude oil production rose by 2% in 2024
In 2024, the Permian region in western Texas and southeastern New Mexico produced more crude oil than any other region, accounting for 48% of total U.S. crude oil production.
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