High Permian well productivity, crude oil prices drive U.S. natural gas production growth
The Energy Information Administration estimate that U.S. marketed natural gas production in the Lower 48 states (L48) will grow by 5% in 2023 and 2% in 2024.
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The Energy Information Administration estimate that U.S. marketed natural gas production in the Lower 48 states (L48) will grow by 5% in 2023 and 2% in 2024.
The merger combines Pioneer’s more than 850 000 net acres in the Midland Basin with ExxonMobil’s 570 000 net acres in the Delaware and Midland Basins. Together, the companies will have an estimated 16 billion boe resource in the Permian.
Vitesse has acquired additional oil and gas interests in the Williston Basin of North Dakota that will result in approximately US$50 million of acquisition and related development capital expenditures, primarily in the 3Q/4Q23.
The Railroad Commission of Texas issued a total of 820 original drilling permits in August 2023. The total includes 710 to drill new oil or gas wells, 8 to re-enter plugged wellbores and 92 for re-completions of existing wellbores.
The reinvestment rate of US shale oil producers has hit its highest level in three years in the 2Q23, but the recent trajectory will not last, according to Rystad Energy research.
EIA expects new milestones for US crude oil production amid sustained global petroleum demand and rising prices.
Kolibri has announced three more successful wells adding over 1500 boe/d to production.
Centrica and Delfin Midstream Inc. has announced an agreement for 1 million t/y of LNG off the coast of Louisiana, US.
The company has signed a five-year contract with major independent operator in Alaska.
The BSEE has announced US$3 million in funding from the Bipartisan Infrastructure Law to help decommission orphaned offshore infrastructure.
VTX has announced an acquisition of 12 000 acres in Delaware, US.
With a gross production capacity of up to 140 000 bpd, Argos is bp’s fifth platform in the Gulf of Mexico and the first new bp-operated production facility in the region since 2008.