During ConocoPhillips’ third-quarter 2024 earnings call, the company announced plans to reduce capital expenditures by at least $500 million in 2025 compared to 2024 levels.
Halliburton suffered a ransomware attack on August 23, 2024, leading to partial system shutdowns and operational disruptions.
The oil and gas industry thrives on precision, efficiency, and data-driven decision-making. At the heart of these operations lies the Daily Drilling Report (DDR)—a document critical to tracking, analyzing, and optimizing drilling operations.
Key projects include Kinder Morgan’s Texas-Louisiana Project, Rover Pipeline’s new delivery station, and Sempra Infrastructure’s Hackberry Gas Storage Project. As FERC navigates a period of leadership transition and increased scrutiny of its environmental evaluations, these decisions reinforce its role in advancing critical energy infrastructure.
With over two decades of inventory in the Permian, ConocoPhillips has emphasized its ability to sustain modest growth (4–5% annually) well into the next decade. This strategic plateau approach allows the company to optimize resource allocation while maximizing shareholder returns.
The transfer of the Powell Ranch 24 Battery is a win-win for both FourPoint Energy and Ovintiv USA. For FourPoint, it signifies a strengthening of their operational base in Upton County, providing new opportunities for growth and efficiency. For Ovintiv, it represents an opportunity to focus on their strategic priorities.
In a strategic move highlighting the dynamic nature of the oil and gas industry, Trinity Operating has taken ownership of several key assets previously held by Escondido Resources II LLC. This acquisition includes operations and facilities in Webb County, Texas, a region known for its rich energy production potential.
Diamondback Energy’s bold plan to integrate data centers and Oklo’s Aurora Powerhouse units into its operations is a testament to the company’s forward-thinking strategy. By leveraging its natural gas resources, surface acreage, and partnerships with innovative technology providers, Diamondback is not only diversifying its business but also paving the way for a sustainable and prosperous future in the Permian Basin.
In the ever-evolving landscape of oil and gas, Occidental Petroleum (Oxy) continues to set itself apart as a pioneer in unconventional resource development. Through its strategic focus on secondary bench development, Oxy is maximizing resource recovery, extending the economic life of its assets, and pushing the boundaries of operational efficiency in U.S. shale plays. This approach exemplifies how advanced technology and innovative workflows are shaping the future of energy production.
Occidental Petroleum has once again demonstrated why it’s a leader in the oil and gas industry, achieving remarkable operational milestones during the third quarter of 2024. With record-breaking performances in the Permian Basin, cutting-edge advancements in the DJ Basin, and continuous improvements in drilling efficiency, Occidental is setting new benchmarks for innovation, productivity, and operational excellence. Here’s a closer look at their latest accomplishments.
