North America
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 23, 2024
Outmaneuvering larger rivals to secure Endeavor puts Diamondback in the front row among Permian-centric E&Ps, giving it a scale comparable to Pioneer Natural Resources prior to its sale to ExxonMobil. APA also expanded in the Permian, but via the public merger route with its purchase of smaller Callon Petroleum for $4.5 billion.
News
April 23, 2024
After better-than-expected production in 2023, the U.S. shale patch is now in the midst of slowing down amid dwindling inventory for top-tier drilling locations, weaker natural gas prices and industry consolidation.
News
April 22, 2024
The fire is one of two out-of-control blazes in Alberta, home to the Canadian oil sands, the world’s third-largest crude oil reserves.
News
April 19, 2024
The Energy Workforce & Technology Council released a statement strongly condemning the administration’s move to block oil and gas drilling across over 13 million acres of the National Petroleum Reserve, a vital component of the U.S.’ energy security.
News
April 19, 2024
Who Dat East is estimated to contain 17 MMboe of gross unrisked 2C Contingent Resources and 35 MMboe of gross unrisked 2U Prospective Resources. The Who Dat South prospect is estimated to contain 31 MMboe of gross unrisked 2U Prospective Resources.
News
April 19, 2024
The National Ocean Industries Association (NOIA) Board of Directors has elected Jonathan Landes, President, Subsea of TechnipFMC, as the NOIA Chair for the 2024-2025 term. Joe Leimkuhler, Chief Operating Officer of Beacon Offshore Energy, was elected as the 2024-2025 Vice Chair. Jon and Joe were confirmed in their positions during the NOIA Board of Directors meeting Friday morning.
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 19, 2024
Under the plan advanced by the Interior Department on Friday, future oil leasing and development is limited across 13 million acres of the 23-million-acre National Petroleum Reserve Alaska designated as “special areas.” And leasing is completely blocked across 10.6 million acres of the reserve.
News
April 17, 2024
In the Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasted that U.S. liquefied natural gas (LNG) exports will keep leading the U.S. natural gas sector as three LNG export projects soon begin operations and reach full production by the end of 2025.
News
April 17, 2024
Investors in ExxonMobil Corp. have the excitement of huge discoveries in Guyana, and TotalEnergies SE and Shell Plc can look to promising deep-water finds in Namibia. But for bp, real value lies in an intensely drilled region where the company has decades of experience — the Gulf of Mexico.
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 16, 2024
The reservoirs will be developed from long horizontal production wells which typically produce at multiples of between 6 to 12 times higher than vertical wells. Project Phoenix also benefits from the ability to produce concurrently from multiple reservoirs in a single development scenario.
News
April 16, 2024
The announcement is the latest salvo in a proxy fight that began when Kimmeridge proposed the merger to SilverBow through a deal it said would value the combined company at $3.6 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 15, 2024
Equinor will sell 100% interest in and operatorship of its onshore asset in the Appalachian basin, located in southeastern Ohio, in exchange for 40% of EQT’s non-operated working interest in the Northern Marcellus shale formation in Pennsylvania.
News
April 14, 2024
The project involves the subsea tie back of one production well at Sunspear to the Prince platform, 12 km to the north. Subsea7 will install the flowline and related subsea equipment at 500 m water depths.
News
April 12, 2024
The changes wouldn’t affect ConocoPhillips’s 600 MMbbl Willow oil project in the National Petroleum Reserve-Alaska. But oil industry leaders say the plan is more expansive than initially anticipated and threatens to make it nearly impossible to build more important projects in the region.
