Exxon Mobil Corp. is exploring the sale of conventional oil assets in the Permian Basin’s Central Basin, which includes older wells that produce small but stable amounts of oil.
LNG Canada, is nearing reality, with the first shipments expected to commence sooner than anticipated. Originally slated for mid-2025, the project is now on track to deliver its first cargo by the end of this year, signaling a major milestone for Canada’s energy sector and the global LNG market.
Volt Lithium has begun testing a new field unit in the Permian Basin capable of processing over 200,000 liters of oilfield brine daily, doubling their previous capacity. This unit will produce battery-grade lithium using their proprietary direct lithium extraction (DLE) technology, which has demonstrated 90% lithium recovery. The company plans to start commercial production at their Rainbow Lake project in Alberta next year.
A major highlight of bpx energy’s modernization efforts is its investment in electrical infrastructure. By the end of 2023, the company had electrified 95% of its Permian wells, shifting away from diesel and natural gas-powered operations to electricity.
The US drilling rig count Decreased by one unit to 585 as of August 23, 2024.
The increased production in the Permian has driven the adoption of larger tanks at new and existing batteries. API 1000-barrel (bbl) tanks are large storage tanks typically used in the oil and gas industry for holding various fluids, including crude oil, produced water, and other liquids. These tanks are designed according to the standards set by the American Petroleum Institute (API), ensuring they meet specific safety, durability, and performance criteria.
In a recent research note, Zacks Research has revised its earnings per share (EPS) estimate for Diamondback Energy, Inc. (NASDAQ: FANG) for Q3 2024, raising it from $4.10 to $4.14. This adjustment comes as the company continues to demonstrate strong financial performance, with solid returns and increased revenue growth, reinforcing investor confidence in its future prospects.
Devon Energy has unveiled a highly successful redevelopment strategy in the Eagle Ford, marking a significant step forward in maximizing resource recovery from previously developed areas.
Ovintiv is considering significant strategic shifts with the potential sale of its Uinta Basin operations.
This document provides a detailed overview of the recent ownership changes, highlighting the previous and new owners, as well as the specific regions and counties involved.
