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E&P Highlights: Feb. 24, 2025
Here’s a roundup of the latest E&P headlines, from a sale of assets in the Gulf of Mexico to new production in the Bohai Sea.
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EIA Reports NatGas Rig Count Fall-Off in ’23, ’24
The U.S. Energy Information Administration’s report of a falling natural gas rig count backs up statements from producers in the Appalachian and Haynesville basins.
No Drivers Necessary: Atlas RoboTrucks Haul Proppant, Sans Humans
Atlas Energy Solutions and Kodiak Robotics have teamed up to put two autonomous trucks to work in the Permian Basin. Many more are on the way.
Valeura Boosts Production, Finds New Targets in Gulf of Thailand
Valeura Energy Inc. has boosted production after drilling three development wells and two appraisal wells in the Gulf of Thailand.
E&P Highlights: Feb. 24, 2025
Here’s a roundup of the latest E&P headlines, from a sale of assets in the Gulf of Mexico to new production in the Bohai Sea.
Devon, BPX to End Legacy Eagle Ford JV After 15 Years
The move to dissolve the Devon-BPX joint venture ends a 15-year drilling partnership originally structured by Petrohawk and GeoSouthern, early trailblazers in the Eagle Ford Shale.
E&P Highlights: Feb. 18, 2025
Here’s a roundup of the latest E&P headlines, from new activity in the Búzios field offshore Brazil to new production in the Mediterranean.
PrePad Tosses Spreadsheets for Drilling Completions Simulation Models
Startup PrePad’s discrete-event simulation model condenses the dozens of variables in a drilling operation to optimize the economics of drilling and completions. Big names such as Devon Energy, Chevron Technology Ventures and Coterra Energy have taken notice.
Chevron Completes Farm-In Offshore Namibia
Chevron now has operatorship and 80% participating interest in Petroleum Exploration License 82 offshore Namibia.
E&P Highlights: Feb. 10, 2025
Here’s a roundup of the latest E&P headlines, from a Beetaloo well stimulated in Australia to new oil production in China.
US Drillers Add Oil, Gas Rigs for Second Week in a Row, Baker Hughes Says
Despite this week's rig increase, Baker Hughes said the total count 6% below this time last year.
E&P Highlights: Feb. 3, 2025
Here’s a roundup of the latest E&P headlines, from a forecast of rising global land rig activity to new contracts.
API’s Multi-Pronged Approach to Lower Carbon Operations
API has published nearly 100 standards addressing environmental performance and emissions reduction, which are constantly reviewed to support low carbon operations without compromising U.S. energy security.
TGS to Reprocess Seismic Data in India’s Krishna-Godavari Basin
TGS will reprocess 3D seismic data, including 10,900 sq km of open acreage available in India’s upcoming 10th Open Acreage Licensing Policy (OALP) bid round blocks.
E&P Highlights: Jan. 27, 2025
Here’s a roundup of the latest E&P headlines including new drilling in the eastern Mediterranean and new contracts in Australia.
Tamboran, Falcon JV Plan Beetaloo Development Area of Up to 4.5MM Acres
A joint venture in the Beetalo Basin between Tamboran Resources Corp. and Falcon Oil & Gas could expand a strategic development spanning 4.52 million acres, Falcon said.
Could Trump’s Ban on Wind Leasing Halt Similar Oil and Gas Sales?
A law signed during the Biden administration ties offshore wind lease sales to similar auctions for oil and gas rights on federal lands. It’s unclear whether President Trump’s Jan. 20 executive order to halt wind leasing could spill over into the E&P world.
Watch for Falling Gas DUCs: E&Ps Resume Completions at $4 Gas
Drilled but uncompleted (DUC) gas wells that totaled some 500 into September 2024 have declined to just under 400, according to a J.P. Morgan Securities analysis of Enverus data.
FLNG Gimi Receives First Gas from BP’s FPSO in the GTA Field
Golar LNG’s Gimi FLNG vessel will support BP, which began flowing gas from wells at the Greater Tortue Ahmeyim Phase 1 LNG project in early January.
Formentera Joins EOG in Wildcatting South Texas’ Oily Pearsall Pay
Known in the past as a “heartbreak shale,” Formentera Partners is counting on bigger completions and longer laterals to crack the Pearsall code, Managing Partner Bryan Sheffield said. EOG Resources is also exploring the shale.
Enverus: M&A Set to Cool with Smaller Deals, Higher Breakevens
With fewer acquisition targets, Enverus Intelligence Research said the quality of acquired inventory is declining, with breakevens averaging $50/bbl in 2024 versus $45/bbl in 2022 and 2023.