Nabors Industries Ltd. reported a slight increase in operating revenues for Q1 2024 to $734 million but experienced a widening net loss of $34 million. The company secured significant contracts and qualifications for rigs in Argentina and the Middle East, and a U.S. drilling contractor adopted Nabors’ RigCLOUD® platform
The first quarter of 2024 saw a significant $51 billion in announced deals, suggesting a potential surpassing of last year’s $192 billion total if this pace continues. The largest transaction noted was the $26 billion sale of Endeavor Energy Resources to Diamondback Energy, marking a significant consolidation within the industry.
Matador’s 2% production over-performance to start the year was done while spending less money on drilling than projected, the company said. During the first quarter of 2024, Matador’s average oil production of 84,777 barrels per day beat its guidance of 83,500 barrels, the company said.
DeLa Express LLC, an affiliate of Moss Lake Partners, has requested approval to initiate the pre-filing review process for its proposed DeLa Express Project designed to transport 2 bcfd of Delaware basin natural gas from Texas to Louisiana.
Rig count in the Mid Con last 30 days, report date April 16th 2024. We are tracking 153 Oil & Gas Operator and 484 drilling rigs that drilled wells in 92 counties located in the Mid-continent.
The Government of Alberta, through Emissions Reduction Alberta (ERA) and Alberta Innovates, is committing $57 million in technology and innovation funding for 28 projects to advance a hydrogen economy, reduce emissions, and create jobs in Alberta. Projects cover the spectrum of hydrogen production, storage, transmission, distribution, and usage.
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ConocoPhillips has been emphasizing operational efficiency and modest production growth in the Permian Basin as part of its broader strategy for the Lower 48 region in 2024.
Cyclone Drilling rig locator provides a weekly update of the location og Cyclone Drilling Rigs
Comparing wells drilled Q1/2023 vs Q1/2024 in the Permian Basin we see a 14% increase in wells drilled.
