The total number of active drilling rigs in the United States rose by 2 this week after climbing by 3 last week, according to new data that Baker Hughes published Friday, as drillers continue to […]
October 18, 2023 Data source: U.S. Energy Information Administration, Short-Term Energy Outlook, September 2023 We estimate that U.S. marketed natural gas production in the Lower 48 states (L48) will grow by 5% (5.0 billion cubic […]
Exxon Mobil’s investors now prefer the company use its share price and financial might to acquire existing oil and gas production rather than spend on drilling that could take years to pay off. In the last […]
The White House may have blamed Exxon Mobil for high energy prices taking their toll on consumers, but would struggle to thwart the top U.S. oil producer’s contemplated $60 billion acquisition of Pioneer Natural Resources, five antitrust lawyers and […]
(Bloomberg) – U.S. crude oil production reached the second-highest level on record in July as output from Texas’s Permian basin soared to an all-time high. The nation’s production rose to 12.991 MMbpd, the highest since […]
The Permian Basin, located in parts of Texas and New Mexico, stands as one of the most significant oil and gas producing regions in the United States and indeed the world. Its geological marvel has […]
The U.S. is predicted to break a new record in oil production this year, with current production at 12.4 million barrels per day, primarily due to increased output in tight oil and shale gas regions. […]
June 19 (Reuters) – Civitas Resources Inc (CIVI.N) is nearing a deal to acquire oil and gas operations in the Permian basin from private equity firm NGP Energy Capital Management LLC for close to $5 billion, including […]
Drilling activity continued to slump during the final week of May, led by a decline in Texas activity. Drilling is also being undercut by uncertain commodity prices and oil and gas producers’ continued focus on […]
Consider this fact: Three of every five barrels of crude oil produced in the U.S. are exported, either as crude oil or in the form of gasoline, diesel, jet fuel or other petroleum products. Sure, […]
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