U.S. crude oil production grew by 270,000 barrels per day (b/d) in 2024 to average 13.2 million b/d, according to our Petroleum Supply Monthly. Almost all the production growth came from the Permian region. Our […]
Data source: U.S. Energy Information Administration, Short-Term Energy Outlook, April 2025 U.S. marketed natural gas production remained relatively flat in 2024, growing by less than 0.4 billion cubic feet per day (Bcf/d) compared with 2023 to average 113 Bcf/d, […]
Hess Corp. (NYSE:HES) has posted an impressive second-quarter earnings report with its stake in prolific Guyana helping it exceed estimates. Hess reported Q2 2024 non-GAAP EPS of $2.62, beating the Wall Street consensus by $0.07 while revenue of […]
North Dakota is close to hitting total oil production of 5 billion barrels, local media has reported, citing the director of the state’s Department of Mineral Resources. According to Lyn Helms, the biggest challenge for […]
(WO) –Morgan E&P, LLC, a wholly-owned subsidiary of Equus, has completed its first two wells in Billings County, North Dakota, the Baranko 1-28H and the Obrigewitch 1-33H. Morgan received its drilling permits from the North […]
Oil Price Oil production in the Bakken shale play is set to increase after Chevron’s acquisition of Hess, although volumes are unlikely to hit the records seen before 2020, analysts have told Reuters. Last week, Chevron […]
U.S. drillers have the potential to double oil output from existing wells, thanks to new drilling efficiencies and innovations such as shale well refracturing Higher drilling efficiency is driving U.S. oil production to new highs […]
In the current year, five developers have signed over 20 long-term deals to supply more than 30 million metric tons/year of LNG. Pundits are asking if the United States can ramp up production to meet […]
(Reuters) – Oasis Petroleum Inc (OAS.O) and Whiting Petroleum Corp (WLL.N) will merge in a $6 billion deal including debt, the U.S. shale oil and gas producers said on Monday. The deal between the companies, which had filed for […]
U.S. oil output could take more than four years to reach pre-pandemic levels, oil producer Hess Corp. said on July 28, sticking to its spending plan despite rising demand to focus on shareholders returns over […]
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