Production
News
June 26, 2024
More than 50% of oil executives told the Dallas Fed they foresee lower domestic crude production if the consolidation trend continues for five years, according to second-quarter survey results released Wednesday.
News
June 18, 2024
Improvements in drilling and fracking techniques amid a wave of corporate takeovers will drive the expansion and more than offset recent reductions in rig deployments, analysts at the the London-based bank wrote in a note titled ‘Underestimate U.S. shale at your peril.’
News
June 14, 2024
The Vaca Muerta, Spanish for dead cow, is an oil and gas field in western Argentina, which is said to have natural gas reserves that rival the Permian basin. Its shale oil production, currently at about 300,000 bpd, is expected to grow to more than 1 MMbpd by 2030.
News
May 23, 2024
Baker Hughes’ awarded scope includes the supply of 20 compression trains based on Frame 5 gas turbine and BCL compressor technology, which will be installed across three gas boosting stations within the Hassi R’ Mel natural gas field.
News
May 15, 2024
Key highlights of the contract include a test deployment of PetroVisor’s Electric Submersible Pump (ESP) app for one producing asset, showcasing Datagration's machine learning-enabled ESP data analytics solution.
News
May 14, 2024
Production, which began on May 6, 2024, with 6,000 bpd, is expected to be ramped up to 40,000 bpd by May 27th, 2024.
News
May 03, 2024
Energy companies in the United States have reduced the number of operating oil and natural gas rigs for the second consecutive week, reaching the lowest count since January 2022, according to Baker Hughes' latest report.
News
May 03, 2024
The acquisition, completed on May 3, allows ExxonMobil to more than double its footprint in the Permian basin, combining Pioneer's substantial acreage and industry expertise with ExxonMobil's technological leadership and financial strength.
News
May 02, 2024
NOG's production surge was largely driven by exceptional performance in the Permian basin, which saw a sequential quarterly increase of 6% and represented record volumes for the company in the basin.
News
May 02, 2024
The company, serving as operator with a 75% stake alongside ONHYM at 25%, has initiated drilling at the Gaufrette prospect with the spudding of the RZK-1 well.
News
May 02, 2024
Halliburton Company has recently unveiled GeoESP lifting pumps, a cutting-edge submersible borehole and surface pump technology tailored for geothermal energy applications.
News
April 25, 2024
EQT now sees its sales volume for the year at 2,100 to 2,200 Bcfe, down from 2,200 to 2,300, the company said in a Tuesday earnings statement. That’s based on production curtailments of 1 Bcfd through May, with the potential to lower output even further, depending on the market.
News
April 25, 2024
Hess’ E&P net income was $997 million in Q1 2024, compared with $405 million in Q1 2023. Net production was 476,000 boed in Q1 2024, compared with 374,000 boed in the Q1 2023, primarily due to higher production in Guyana and the Bakken.
News
April 24, 2024
While production is at record levels, productivity per well in the Permian basin has declined 15% since 2020, due to factors like interference with underground pressure from extensive drilling. However, innovations like longer lateral wells and simultaneous fracking (simul-frac) are improving efficiency and lowering costs.
News
April 24, 2024
Matador’s 2% production over-performance to start the year was done while spending less money on drilling than projected, the company said. During the first quarter of 2024, Matador’s average oil production of 84,777 barrels per day beat its guidance of 83,500 barrels, the company said.
News
April 19, 2024
The Pikka Project in Alaska's North Slope includes a single drill site, an oil processing facility and other infrastructure, with production expected to reach 80,000 bopd.
News
April 17, 2024
Canada’s Gibson Energy Inc. is betting that swelling oil production in the Permian basin will fuel continued growth in U.S. crude exports, boosting profit from a major Gulf Coast terminal it bought last year for about $1.1 billion.
News
April 15, 2024
Overall, U.S. shale-oil production is expected to be steady at about 9.86 MMbpd in May, below the record 10 MMbpd seen in December, according to the report. Production from the Permian basin hasn’t completely returned to the December high and is expected to be roughly 6.17 MMbpd next month.
News
April 15, 2024
A total of 50 so-called “zombie” fires still smoldering beneath layers of snow are located near oil and gas wells and other production facilities. Those sites yield natural gas equivalent to about 80,000 bpd of oil in Canada’s energy heartland of Alberta alone, in addition to almost 14,000 bpd of crude.
News
April 09, 2024
This Memorandum of Understanding outlines the realization of a work program for the appraisal and development of gas resources in the North-East Timimoun region, in synergy with existing processing facilities for production from the Timimoun natural gas field, to reduce costs and emissions.
News
April 08, 2024
the Dorado shale field in the Eagle Ford will allow TotalEnergies to increase its net U.S. natural gas production by 50 MMcfd in 2024, with the potential for an additional 50 MMcfd by 2028.
