Shale

News
February 25, 2024
Exxon received several offers for holdings in Argentina’s heralded Vaca Muerta formation in Patagonia earlier this month, according to people familiar with the matter. The assets, which comprise stakes it owns with QatarEnergy in seven oil-and-gas blocks in the shale patch as well as holdings in a pipeline, have been valued at around $1 billion, said the people, who declined to comment publicly on private talks.
News
February 21, 2024
Vista Energy, a top-three shale-oil producer in Argentina, is eyeing assets put up for sale by Exxon Mobil Corp. as it looks to accelerate growth in the country’s heralded Vaca Muerta formation.
News
February 14, 2024
Capital investment in shale and exploration will be trimmed by $320 million, and two rigs in the Permian will be idled this year, the Houston-based company said Wednesday. Spending will increase in the Gulf of Mexico, chemicals and the enhanced oil recovery business.
News
February 12, 2024
Combined crude production from the seven U.S. shale basins is forecast to rise to 9.72 MMbpd next month, up 0.2% from February, the U.S. Energy Information Administration said in a report Monday.
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 08, 2024
The assets YPF plans to sell are mainly aging oil fields across Patagonia that are less profitable than the crown jewel of its portfolio, shale patch Vaca Muerta, the official said.
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
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 23, 2024
The proven geological reserves amount to 133.012 Bcm as validated by the State Ministry of Natural Resources, which marks another integrated, ultra-deep and tight-sandstone gas field of over 100 Bcm in China.
News
January 23, 2024
The top oil field contractors are looking to make up for a slowdown in U.S. shale work by boosting activity overseas. Halliburton, with its unrivaled footprint in all the major shale basins, offers the closest proxy to U.S. producer activity.
News
January 08, 2024
Most of shale’s private operators in the Permian basin are planning modest growth this year as one of the main engines of U.S. oil expansion downshifts amid volatile commodity prices.
News
January 04, 2024
After ending last year with an estimated production growth of 900,000 bpd higher than the end of 2022, U.S. oil expansion will be “considerably less,” EOG President Billy Helms said Thursday in a presentation to investors.
News
December 20, 2023
U.S. shale executives are bracing for more megadeals in the U.S. oil industry — and some fear the consequences of consolidation.
News
December 19, 2023
Private oil and natural gas operators are projected to cut their budgets by 4% to an average of $34.4 billion in 2024, according to the 39th annual global spending survey from Barclays PLC.
News
December 18, 2023
Operators are squeezing crude out of new wells more efficiently because of innovations in everything from electric-pump technology to new strategies for deploying workers while fracking wells to minimize downtime.
News
December 16, 2023
Tokyo Gas Co. said its subsidiary Tokyo Gas America Ltd. will purchase Rockcliff Energy II LLC for about $2.7 billion in a move to expand its U.S. shale gas operations.
News
December 15, 2023
Permian Basin operator Callon Petroleum Co. is considering strategic options amid takeover interest from rival oil and gas players, people familiar with the matter said, as dealmaking accelerates in the U.S. energy industry.
News
December 12, 2023
Occidental Petroleum Corp.’s $10.8 billion takeover of CrownRock LP equates to more $50,000 per acre for rights to drill some of the richest oil deposits in the hemisphere, according to data-analysis and research firm Enverus Inc.
News
December 11, 2023
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.
News
December 08, 2023
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.
News
November 30, 2023
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
Connect with World Oil
Connect with World Oil, the upstream industry's most trusted source of forecast data, industry trends, and insights into operational and technological advances.