The latest Baker Hughes rig count, as of September 15, 2024, shows increase in oil and gas drilling activity across the U.S. with a total of 590 rigs.
U.S. See Uptick in Latest Rig Report – Baker Hughes
Permian Basin Faces Critical Electricity Shortage Impacting Oil & Gas Industry
The Permian Basin, a crucial hub for oil and gas production, is grappling with a significant challenge—limited access to electricity.
New Mexico’s Rising Impact in the Permian Basin: Growth, Challenges, and Texas Collaboration
New Mexico has rapidly emerged as a key player in the Permian Basin’s oil and gas production, driven by significant developments in Lea and Eddy counties.
Permian Basin Natural Gas Takeaway Capacity Boost with New Pipeline Projects
Natural gas takeaway capacity in the Permian Basin is set to receive a significant boost with the upcoming launch of the Matterhorn Express Pipeline and several other major pipeline projects.
Diamondback Energy, Inc. Closes Merger with Endeavor Energy Resources, L.P.
Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”), today announced that it has closed its merger with Endeavor Energy Resources, L.P. (“Endeavor”).
Cenovus Energy: Oil sands Operations
Cenovus expects oil sands production to reach 600-610 Mbbls/d in 2024, with key assets including Christina Lake, Foster Creek, Lloydminster Thermals, and Sunrise. Operating costs have been reduced to $10.50 – $12.50 per barrel, reflecting a 12% decrease at the midpoint.
Oil Rig Worker Salaries and Benefits in 2024
oil rig workers in the U.S. are compensated well for their physically demanding and essential roles within the energy industry. With salaries ranging from $40,000 for entry-level positions to over $100,000 for experienced workers, the potential for career growth and high earnings is significant.
Rising LNG Market: Growth, Geopolitical Impacts, and Investment Opportunities
The liquefied natural gas (LNG) sector is experiencing rapid growth as global demand for cleaner energy continues to rise. With technological advancements improving production and transportation, and the global energy transition driving the shift from coal to gas, LNG is becoming a key player in the energy industry.
Voyager Midstream Acquires 550 Miles of Phillips 66 Pipelines in Haynesville Shale
Phillips 66 has sold 550 miles of natural gas pipelines, along with associated assets in the Haynesville Shale, to Voyager Midstream Holdings, a portfolio company of Pearl Energy Investments. The assets are located in Texas (Panola, Rusk, and Harrison counties) and Louisiana (Caddo Parish).
North American LNG Export Capacity to Double by 2028: Key Projects and Developments
The U.S. Energy Information Administration (EIA) has projected a significant increase in North America’s liquefied natural gas (LNG) export capacity. Between 2024 and 2028, the capacity is expected to more than double, rising from 11.4 billion cubic feet per day (Bcf/d) in 2023 to 24.4 Bcf/d.