LoneSTAR is a state-of-the-art tracking and reporting system developed by the Texas Railroad Commission to enhance the management of oil and gas operations in Texas. It’s a centralized, digital platform that brings together millions of records and streamlines the way data is accessed, submitted, and monitored.
Diamondback Energy’s acquisition of Endeavor has lowered its corporate breakeven to $37 per barrel, among the industry’s lowest.
Mewbourne Oil Company leads the pack with a remarkable 77-well increase in 2024, followed by significant gains from SM Energy Company (+47) and EQT (+43). These companies exemplify aggressive growth and strategic expansion in the oil and gas industry, adapting to rising market demands. Overall, the industry’s resilience and adaptability are evident in the year-over-year growth driven by these top-performing accounts.
The global demand for liquefied natural gas (LNG) continues to rise as countries seek reliable, cleaner energy solutions. In a significant development for the LNG sector, Baker Hughes has secured a contract from Bechtel Energy to provide state-of-the-art gas technology equipment for Phase 1 of Woodside Energy Group’s Louisiana LNG project. This landmark collaboration marks an important step toward enhancing North America’s role in the global LNG supply chain while addressing the world’s growing energy needs
The Bobcat Gas Storage facility in St. Landry Parish, Louisiana, is a strategic asset owned and operated by Enbridge Inc., offering significant capabilities in natural gas storage and distribution.
As the oil and gas industry navigates the ever-evolving market dynamics, it is crucial to identify trends in drilling activity to make informed decisions. One significant trend observed recently is the reduction in wells drilled by some of the top players in the industry. Here, we highlight the 10 accounts with the largest negative change in wells drilled between 2023 and 2024, shedding light on potential implications and industry shifts.
The latest Baker Hughes rig count report reveals that the number of active drilling rigs in the United States remains steady at 589 this week. While unchanged from the previous week, this total reflects a year-over-year decline of 33 rigs. Despite fewer rigs in operation, U.S. oil production continues to thrive, showcasing record levels of output.
recent collaboration between Castex, Carbonvert, and Enbridge, aimed at developing world-class carbon storage projects along Louisiana’s southern coast. With cutting-edge technology and strategic planning, this partnership promises to pave the way for a sustainable future, leveraging Louisiana’s unique geology and existing infrastructure.
As we approach the end of 2024, the U.S. oil and gas industry remains a focal point for energy analysts and market stakeholders. According to Baker Hughes’ latest report, the total rig count across the country has held steady at 589 for the second consecutive week, highlighting the cautious yet resilient nature of the sector.
The oil and gas industry in 2024 made global headlines with significant mergers and acquisitions (M&A), demonstrating strategic moves by companies to secure competitive advantages in a rapidly evolving energy landscape. While deal activity mirrored 2023’s consolidation trend, the total deal value dropped sharply, with the largest M&A of 2024 reaching $26 billion compared to the $60 billion peak of the previous year. Here’s a closer look at the major trends and notable deals that defined the year.
