Unit Corporation’s contract drilling segment remained relatively stable during the first quarter of 2024 compared to the same period in 2023. The company’s BOSS rigs availability remained unchanged, with 14 rigs available at the end of both periods.
The Permian Basin, particularly its Southern Delaware position, played a significant role in Vital Energy’s first-quarter success. Results in this area exceeded industry standards, showcasing the company’s ability to drive sustainable gains in well productivity and lower capital costs.
Ovintiv Inc. posted strong financial results for the first quarter of 2024, with net earnings of $338 million and robust cash flow of $1,035 million.
Mike Wirth, Chevron’s CEO, discussed in a resent interview the robust and growing global demand for oil, driven by economic expansion in key regions like the U.S., China, and Europe.
Ascent Resources Utica Holdings, LLC reported a strong first quarter in 2024, with net production averaging 2.2 billion cubic feet equivalent per day and liquids production up 38% year-over-year.
ATCO Ltd. is planning to build a 200-kilometre natural gas pipeline along the Yellowhead Highway west of Edmonton to support a major net-zero petrochemical project near the Alberta capital, the utilities company announced Wednesday.
The North Dakota Industrial Commission approved a pilot project from XTO Energy to start enhanced oil recovery (EOR).
Total revenues and other sources amounted to $887.7 million, indicating strong business activity and demand for the company’s services.
Operational efficiencies led to faster well completion, significantly contributing to the increased production volumes.
The company achieved an 11% increase in average daily crude oil production to 151,794 barrels and a total average production of 319,514 barrels of oil equivalent per day. Financially, Permian Resources generated $648 million in net cash from operating activities and $324 million in adjusted free cash flow.
