E&P
U.S. Oilfield Giants Brace for Tough Times as Price Slide Rattles Producers
Top U.S. oilfield firms SLB, Halliburton, and Baker Hughes brace for a downturn as falling oil prices force producers to cut drilling budgets and scale back activity, particularly in North America.
Colombian Oil, Gas Guild Urges Action to Curb E&P Decline, Address Gas Shortfall
The main Colombian guild for oil, gas, and energy service companies proposed on Tuesday several measures to mitigate the drop in exploration and production (E&P) of oil and to take on the natural gas deficit in the South American country.
Mexico Weighs Increasing Fracking to Cut U.S. Pipeline Gas Dependence
Mexico is exploring a potential expansion of fracking to reduce its reliance on U.S. natural gas imports, which currently meet 72% of its demand. Most of the imported gas is delivered via pipeline from the Permian and Eagle Ford Basins.
Permian Oil Growth Slows as U.S. Shale Hits Geological Limits
U.S. shale producers face rising costs and geological constraints in the Permian Basin, where aging wells yield more water and gas, signaling a potential peak in oil output.
1,000-Mile Pipeline Exit Plan by Hope Gas Alarms West Virginia Producers
Hope Gas’ proposal to abandon over 1,000 miles of pipeline across more than 20 West Virginia counties is drawing sharp criticism from local producers, who say the move could cut off access to critical infrastructure and threaten small well operations.
Whitecap, Veren to Merge in $15 Billion Deal to Form Leading Canadian Light Oil Producer
Whitecap Resources Inc. and Veren Inc. have entered a $15 billion all-share transaction that will combine their assets, creating a leading Canadian light oil and condensate producer with key holdings in Alberta’s Montney and Duvernay regions.
Expand Energy Plans 5% Gas Output Growth Amid Rising Demand
Expand Energy, formerly known as Chesapeake Energy and the biggest natural gas producer in the U.S., said on Thursday it was on track to boost output by more than 5% in 2026 from levels expected in 2025 so long as market conditions warrant such a move.
Iraq to Submit Updated Plan for OPEC+ Overproduction Compensation
Iraq reaffirmed its commitment to the OPEC+ agreement on Monday and said it would present an updated plan to compensate for any overproduction in previous periods, according to a statement from the Iraqi oil ministry.
North Dakota Sees Major Oil Production Drop Due to Frigid Temps
North Dakota's oil production has dropped by up to 150,000 bpd due to extreme cold, with wellhead natural gas output also affected. Warmer weather is expected to bring relief soon.
Exxon Seeks Permit for Gas Production, LNG Project as Output Rises in Guyana
Exxon Mobil seeks permits for its eighth project in Guyana, focusing on gas production. The company aims to boost capacity to 1.7 million barrels per day by 2029 while supporting Guyana's LNG development.
Diversified Energy Strikes $1.3 Billion Deal for Maverick in Permian Basin Expansion
U.S.-based Diversified Energy said on Monday it will buy private equity-owned Maverick Natural Resources for $1.28 billion, including debt, to expand into the oil and gas-rich Permian Basin, sending its shares up 4.3%.
Trump Interior Nominee Advocates Aggressive Drilling on Federal Lands
Donald Trump's pick for secretary of the interior, Doug Burgum, said on Thursday he will vigorously pursue the president-elect's goals of maximizing energy production from U.S. public lands and waters, calling it key to national security.
South Sudan Plans Crude Oil Restart Amid Regional Recovery Efforts
South Sudan aims to resume oil production at its Blocks 3 and 7 on Jan. 8 with an initial output target of 90,000 barrels per day, Petroleum Minister Puot Kang Chol said on Tuesday.
Biden Bans Offshore Drilling in Vast U.S. Waters Before Trump Term
U.S. President Joe Biden will ban new offshore oil and gas development along most U.S. coastlines, a decision President-elect Donald Trump, who has vowed to boost domestic energy production, may find difficult to reverse.
Coterra Expands in Permian with $4 Billion New Mexico Acquisitions, Adds 125 Miles of Pipeline
Coterra Energy Inc. has announced agreements to acquire assets from Franklin Mountain Energy and Avant Natural Resources for a combined $3.95 billion.
Trump Prepares to Withdraw from Paris Climate Agreement, NYT Reports
U.S. President-elect Donald Trump's transition team prepares executive orders to withdraw from the Paris climate agreement, end the LNG export pause, and revoke California's pollution waiver, according to the New York Times.
Angola LNG Weighs Adding Capacity as Gas Output Grows
Angola LNG is exploring expansion options, including a mini train addition, as new gas supplies from Chevron and the New Gas Consortium are expected to bring the plant to full capacity in the coming year.
22% of Gulf of Mexico Oil Production Shut Down by Hurricane Rafael
Over 22% of crude oil production and 9% of natural gas output in the U.S. Gulf of Mexico were shut down due to Hurricane Rafael, according to the U.S. Bureau of Safety and Environmental Enforcement. The shutdown includes 391,214 barrels of oil and nearly 181 million cubic feet of natural gas daily.
U.S. Crude Oil Pipeline Squeeze Boosts Prices at Gulf Coast Export Hub
U.S. crude oil prices at the Gulf Coast export hub have surged due to limited pipeline capacity from the Permian basin. A growing demand for light sweet crude, alongside record production, has widened the price gap between West Texas and Houston.
Venezuela's Oil Exports Surge to 4-Year Peak Amid Higher Output, Demand from U.S., India
Venezuela's oil exports reached a four-year high of nearly 950,000 barrels per day in October, driven by increased crude production and enhanced sales to the U.S. and India, despite ongoing sanctions and recent challenges.
Canadian Natural Cuts Gas Drilling Targets as Prices Slide
Canadian Natural Resources will reduce natural gas drilling in 2024 as weak prices persist, despite stronger-than-expected third-quarter profits driven by oil sands production.
Pemex Delays Projects, Targets $1.35 Billion in Savings
The cuts, aimed at optimizing resources, will delay certain projects and acquisitions until 2025, as the heavily indebted company prioritizes investments in higher-producing wells.
Pemex Oil Production Drops as Lopez Obrador Exits Presidency
Pemex's crude oil production fell by 6% in August, marking a new low, as Mexico's outgoing president Lopez Obrador's energy goals fell short. Despite an increase in refined product output, Pemex continues to rely heavily on fuel imports, particularly gasoline and diesel.
Validus Energy to Acquire Tulsa-Based Citizen Energy in $2 Billion Deal, Sources Say
Privately held oil and gas producer Validus Energy has struck a deal to buy rival Citizen Energy for more than $2 billion, including debt, according to people familiar with the matter.
FTC Set to Greenlight Chevron's $53 Billion Buy of Oil Rival Hess, Sources Say
The U.S. Federal Trade Commission is expected to greenlight Chevron’s $53 billion acquisition of Hess this week, according to sources. While FTC approval is near, Exxon Mobil’s legal challenge over Hess’s Guyana assets remains a key hurdle, with a decision expected by mid-2025.
Energy Leaders Believe VP Harris Won’t Ban Fracing, Citing Gas Price Risks
U.S. Vice President Kamala Harris understands natural gas prices will rise if fracing is banned, industry executives said, explaining their confidence that the Democratic candidate will not ban the production method if she becomes president.
BKV Aims to Raise Up to $315 Million in U.S. IPO
Natural gas producer BKV Corporation said on Monday it plans to raise up to $315 million in its initial public offering in the United States.
Federal Judge Halts New Drilling Permits for Massive Wyoming Oil Project
A federal judge on Friday blocked new oil drilling permits from being granted for a 5,000-well oil and gas development project in Wyoming that was approved in the waning days of Republican former President Donald Trump's administration.
EOG Resources to Increase Utica Shale Activity in Ohio
"The Utica absolutely has the opportunity to be a foundational play," COO Jeff Leitzell said. "If we continue to have the success that we expect to, you can expect us to go ahead now and put more capital there."
Petrobras Aims to Cut Gas Reinjection, CEO Says
The government published a decree on Monday authorizing the oil regulator ANP to order oil companies to reduce the reinjection to increase the supply of gas and lower prices.
- 1,000-Mile Pipeline Exit Plan by Hope Gas Alarms West Virginia Producers
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Three Killed, Two Injured in Accident at LNG Construction Site in Texas
- Greenpeace Ordered to Pay $667 Million to Energy Transfer Over Dakota Access Pipeline Protests
- Boardwalk’s Texas Gas Launches Open Season for 2 Bcf/d Marcellus-to-Louisiana Pipeline Expansion
- New Alternatives for Noise Reduction in Gas Pipelines
- Construction Begins on Ghana's $12 Billion Petroleum Hub, But Not Without Doubts
- Missouri Loses Control Over 1.5 Million-Mile Gas Pipeline Network as Feds Step In
- Gazprom’s Grandeur Fades as Europe Moves Away from Russian Gas
- Greenpeace Ordered to Pay $667 Million to Energy Transfer Over Dakota Access Pipeline Protests
