The biggest producers in the U.S. oil and gas sector are set to increase their production significantly, largely driven by ongoing mergers and acquisitions (M&A). The top 20 publicly traded oil and gas operators in the U.S. will boost their output by approximately 3 million barrels of oil equivalent per day (boe/d), representing a 16% increase over the last 18 months.
EOG Resources’ 1Q 2024 earnings presentation outlines their Package Development strategy that impacts facility design and tank selection
BP’s recent projections suggest that global oil demand will peak in 2025, largely driven by the rapid growth of renewable energy sources such as solar and wind. This transition is expected to contribute to a significant reduction in global carbon emissions by the mid-2020s. BP’s annual Energy Outlook study outlines two potential scenarios: the current trajectory of the energy transition and a pathway to achieve net-zero emissions by 2050.
Patterson-UTI Energy, Inc. (NASDAQ: PTEN) shares reached a new 52-week low, trading as low as $9.51 and closing at $9.57, with a volume of 265,737 shares.
The Permian Basin is the largest oil-producing shale play in the US, primarily located in Texas.
The latest report from Baker Hughes indicates a rise in the U.S. rig count, reflecting a higher number of rigs engaged in oil and natural gas exploration.
Advanced rigs with modern technology can drill faster and more accurately, reducing the overall time required to complete wells.
EOG Resources stands out in the oil and gas industry for its steadfast commitment to organic growth, focusing on exploring and developing new resource plays rather than pursuing large mergers and acquisitions (M&A).
The latest rig count from Baker Hughes Co. showed the national total gained four rigs to reach 585
Devon Energy (NYSE: DVN) announced today it has entered into a definitive purchase agreement to acquire the Williston Basin business of Grayson Mill Energy in a transaction valued at $5 billion, consisting of $3.25 billion of cash and $1.75 billion of stock to the sellers. The transaction is subject to customary terms and conditions, including various purchase price adjustments, and is expected to close by the end of the third quarter of 2024, with an effective date of June 1, 2024.
