Onshore

The border dispute between Venezuela and Guyana is unlikely to escalate into a military conflict despite the growing hostile rhetoric between the South American nations, says Chevron Corp.’s top executive.

Occidental Petroleum Corp. has agreed to acquire Texas shale driller CrownRock LP in a cash-and-stock deal valued at about $12.0 billion, including the assumption of $1.2 billion in debt, as consolidation heats up in North America’s most-prolific oil basin.

Traders are more jittery than ever about the outcome of Chevron Corp.’s proposed $53-billion takeover of Hess Corp. as Venezuela threatens to seize mineral-rich regions in neighboring Guyana.

U.S. oil producers are about to ease up on their growth in capital spending, indicating that the pace of shale output may slow down after American production rose to record levels this year.

Endeavor Energy, the largest closely-held oil and gas company in the Permian basin, is exploring a sale that could value it between $25 billion and $30 billion, according to Reuters.

The total includes 588 to drill new oil or gas wells, 5 to re-enter plugged wellbores and 37 for re-completions of existing wellbores.

Four samples from the Mukuyu-2 well at the Cabora Bassa project showed the presence of natural gas, the company said in a statement.

Exxon also plans to spend $23 billion to $25 billion on capital projects next year as it expands its footprint in the Permian basin, North America’s most-prolific oil field, and pursues untapped reserves in overseas regions such as Guyana.

This transaction forms a comprehensive cementing business to better serve Permian oil and gas operators and is complementary to ProPetro’s industry-leading hydraulic fracturing and wireline completions businesses.

If the purchase is successful, it would augment a portfolio Occidental had already expanded with the $38 billion takeover of Anadarko Petroleum Corp. in 2019

The planned program, to be conducted by Condor Energy Service, includes 10 stimulation stages within the Amungee Member B-shale over a 500-meter horizontal section of SS1H.

A new chemistry solution, first developed for the food and beverage industry, provides an environmentally safe and economical alternative for upstream water treatment without the hazards or cost of traditional oxidizers or conventional biocides.

Argentina’s shale patch has vast untapped potential that has been limited by bottlenecks. In theory, President Javier Milei’s plans should improve YPF’s margins and attract foreign direct investment.

Across the U.S., operators added four rigs in the five-day period from Nov. 18 to Nov. 22, according to the Baker Hughes Rotary Rig Count. It was the second week in a row that the total U.S. count increased, with the new total standing at 622.

On Nov. 15, Sinopec struck sizeable oil and gas flows in the Yuejin 3-3XC well of its Project Deep Earth NO.1 in the Tarim basin, with a daily oil and gas flow of 200 tonnes in liquids and 50,000 cmg.

(WO) — Ukraine's state-owned Naftogaz’s subsidiary Ukrgasvydobuvannya has uncovered a highly promising gas deposit in the Carpathians, previously believed to be exhausted, the company announced on Nov. 20.

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Drillers in the U.S. shale patch are again trying to rebound from slumping activity, this time expanding the oil rig count by the widest margin in nine months.

(WO) — Aramco announced that it has successfully produced the first unconventional tight gas from its South Ghawar operational area two months ahead of schedule.

(WO) — WhiteHawk Energy LLC has announced the acquisition of additional Marcellus Shale natural gas mineral and royalty assets for a total purchase price of $54 million.

The more bullish forecast for Permian production marks a turnaround from last month’s report, which had originally shown output contracting during every month between August and November from the prolific basin.