E&P
North Dakota's Bakken Rig Count Drops as Consolidation Sweeps Oil Patch
Operators in North Dakota's Bakken oilfield reduced their rig count to 36 in April, down from 40 in March, marking the lowest number this year as a wave of consolidation has swept through the oil patch, state regulators said on Friday.
Chevron Begins Pipeline Transport of Leviathan Natural Gas to Ashdod Refinery
NewMed Energy LP, a partner in the Leviathan natural gas field offshore Israel alongside Chevron Mediterranean and other stakeholders, announced the commencement of condensate transportation from the field to the Ashdod oil refinery located in western Israel.
XCL Resources Seeks FTC Approval for Altamont Energy Acquisition
The application seeks approval from the agency for its proposed acquisition of Altamont Energy, LLC, an oil and gas operator in Utah's Uinta Basin region.
TotalEnergies Restarts Gas Production at Tyra Offshore Hub
The revamped hub is expected to produce 5.7 million cubic meters of gas and 22,000 barrels of condensate per day, reaffirming Denmark's self-sufficiency and status as a net exporter of natural gas.
North Dakota's January Oil Output Hits One-Year Low Amid Extreme Cold Snap
Crude oil production in North Dakota fell 14% in January compared with the prior month, hitting a one-year low after a cold snap weighed on activity, state regulators said on Thursday.
IEA Forecasts Non-OPEC+ to Lead 2024 Oil Production Growth, Offset Output Cuts
Near-term global oil and liquids production growth will be driven primarily by the U.S., Guyana, Canada, and Brazil, offsetting voluntary production cuts by OPEC+, the U.S. Energy Information Agency (EIA) forecast on Thursday.
Nigeria's Oil Output Surges to 1.47 MMbbl/d Amid Crackdown on Crude Theft
Nigeria's oil production is steadily rising, hitting 1.476 million barrels per day (bbl/d) in February, the highest in more than three years, OPEC data showed, as the military and private security contractors crackdown on crude theft and pipeline sabotage.
CNX Resources Delays Production Activities, Expects Volume Decline Amid Weak Gas Prices
U.S. energy firm CNX Resources said on Tuesday it expects lower production volumes in 2024 as it is delaying some well completion activities amid weak natural gas prices.
CNOOC Discovers 100 Million Ton Oilfield in South China Sea
Chinese state-owned oil and gas giant CNOOC Ltd. has discovered a new reserve in the South China Sea containing over 100 million tons of oil equivalent proved in-place, the company said in a statement on Friday.
Tullow Oil Reports Loss in 2023, Aims for Operational Improvements Beyond 2025
Tullow Oil swung into a loss in 2023 after cutting the value of reserves in one of its West African oilfields, as its chief executive said the company would consider shareholder returns after 2025.
Canadian Oil Producer Cenovus Plans 19% Production Increase Over Five Years
Cenovus Energy, Canada’s third-largest oil producer, said on Tuesday it plans to boost energy production by 19% during the next five years as the country's pipeline capacity expands.
EQT to Curtail Natural Gas Production Through March Amid Low Prices
EQT will curtail nearly 1 billion cubic feet per day of natural gas production through March, the top U.S. natural gas producer said on Monday, as companies respond to persistently low prices of the commodity.
Oil and Gas Upstream M&A Deal Value Hits Highest Q1 Levels Since 2017
An ongoing consolidation in the U.S. shale industry has driven up global M&A deal value in the oil and gas exploration sector to its highest first-quarter level in seven years, industry experts said.
Pioneer Natural Exceeds Production Expectations Amid Pending Exxon Takeover
Pioneer Natural Resources on Thursday reported 2023 production that exceeded its prior forecast, as the U.S. shale producer works to close its about $60 billion purchase by oil major Exxon Mobil later this year.
EQT Misses Quarterly Profit Estimates on Lower Prices, Plans Moderate Drilling Expansion
EQT Corp., the largest U.S. natural gas producer, missed fourth-quarter profit estimates on Tuesday, as higher sales volumes were offset by lower gas prices.
Oil Industry, Environmental Groups Challenge Biden's Offshore Drilling Plan in Court
Oil and gas companies and environmental groups on Monday filed dueling legal challenges to the Biden administration's five-year plan to offer drilling leases in the Gulf of Mexico.
Japan's Japex Eyes U.S. as Prime Investment Hub for Energy Exploration Despite Political Risks
Japan Petroleum Exploration (Japex) sees the United States as the most appealing investment destination for oil and gas exploration and production, despite political risks posed by this year's election, its senior managing executive officer said on Friday.
ConocoPhillips Beats Quarterly Profit Estimates with Higher Production
U.S. oil and gas producer ConocoPhillips beat Wall Street estimates for fourth-quarter profit on Thursday, helped by higher production in the Permian Basin and from a recent acquisition.
Permian Deal Frenzy Dampens 2024 U.S. Oil Growth Prospects
Oil production in the prodigious Permian shale basin in Texas and New Mexico this year will see the slowest annual growth since 2021, according to market participants, as a slew of acquisitions reduces activity among private drillers.
Oil India in Talks to Resume Drilling Operations in Libya After 13-Year Hiatus
Oil India is talks with stakeholders to restart drilling in Libya, thirteen years after the company exited the country due to political instability, a top company official told Reuters.
Tanzania's TPDC Doubles Stake in Mnazi Bay Gas Field Deal with Maurel & Prom
The Mnazi Bay gas field, in the Mtwara region of the country's south, has an estimated 641 Bcf of recoverable natural gas reserves and contributes nearly half of the gas used to generate electricity in the East African country.
Oil Producer Hess Tops Profit Estimates on Higher Bakken, Guyana Output
U.S. oil and gas firm Hess beat Wall Street estimates for fourth-quarter profit on Wednesday, helped by higher production in its Bakken shale and Guyana operations.
Dana Gas Resumes Operations at Iraqi Kurdistan’s Khor Mor Gas Field
United Arab Emirates energy firm Dana Gas on Friday has resumed the production operations at Iraqi Kurdistan's Khor Mor gas field have been resumed, the company said in a statement.
EnCap Eyes $5 Billion Sale of Bakken Shale Producer Grayson Mill
Private equity firm EnCap Investments is exploring a sale of Grayson Mill Energy that could value the Bakken shale-focused oil and gas producer at around $5 billion, inclusive of debt, people familiar with the matter said on Thursday.
Chevron's Duvernay Shale Sale Expected to Attract Mid-sized Canadian Shale Operators
As Chevron Corp. markets its Duvernay shale assets, the U.S. oil major is most likely to find a buyer among a handful of mid-sized Canadian firms that are boosting investment in a region that has yet to fulfil its potential, analysts said.
Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
The London-listed oil and gas explorer said the start-up of Jubilee Southeast offshore Ghana drove production and boosted 2023 cash flow ahead of its expectations.
TotalEnergies Says Danish Tyra Gas Field Ready to Start in March
TotalEnergies will restart production at Denmark's Tyra natural gas field in March this year, the company said in a statement on Monday.
Sinopec Unveils Massive 133 Bcm Certified Tight Gas Reserves in Sichuan Basin
China's Sinopec Corp. said on Wednesday that the Chinese government had recently certified 133 billion cubic meters of proven geological reserves of natural gas in its operation in southwest Sichuan basin.
North Dakota Oil Production Plummets by 650,000 to 700,000 bpd Amid Extreme Cold
Oil production in North Dakota was estimated to have dropped by more than half its typical output because of extreme cold and related operations challenges, the state's pipeline authority said on Wednesday.
Shell Ends Nearly a Century in Nigeria's Troubled Onshore Oil, Sells Subsidiary for $2.4 Billion
Shell is set to conclude nearly a century of operations in Nigerian onshore oil and gas after agreeing to sell its subsidiary there to a consortium of five mostly local companies for up to $2.4 billion.
- Keystone Oil Pipeline Resumes Operations After Temporary Shutdown
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
- Enbridge to Invest $500 Million in Pipeline Assets, Including Expansion of 850-Mile Gray Oak Pipeline
- Williams Delays Louisiana Pipeline Project Amid Dispute with Competitor Energy Transfer
- MEG Energy Confirms Trans Mountain Pipeline Expansion to Begin Line Fill in April
- Evacuation Technologies to Reduce Methane Releases During Pigging
- Editor’s Notebook: Nord Stream’s $20 Billion Question
- Enbridge Receives Approval to Begin Service on Louisiana Venice Gas Pipeline Project
- Russian LNG Unfazed By U.S. Sanctions
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
