The oil and gas industry remains a powerhouse in the U.S. economy, offering some of the highest wages in the country. According to the latest State of Energy Report from the Texas Independent Producers & Royalty Owners Association (TIPRO), oil and gas workers earned an average annual salary of $227,000 in 2024—an increase of $4,389 from 2023.
BP is doubling down on its U.S. natural gas production, particularly in the Haynesville Basin, as domestic gas prices surge. CEO Murray Auchincloss, speaking at the CERAWeek conference in Houston, highlighted the company’s renewed focus on oil and gas, marking a strategic pivot from its previous emphasis on renewable energy.
The Permian Basin continues to solidify its role as the driving force behind U.S. oil and gas production. With rising natural gas and NGL output exceeding expectations, midstream companies are ramping up investments in infrastructure to meet growing demand. Enterprise Products Partners LP, a leading midstream operator, is taking a strategic approach to expansion, focusing on pipeline investments, LNG and LPG exports, and securing fee-based revenue to ensure long-term stability.
Accurate Daily Drilling Reports (DDR) are essential for optimizing drilling operations, tracking costs, and ensuring project efficiency. However, a variety of challenges persist in the way DDRs are recorded, standardized, and used for decision-making. In this blog, we’ll explore the most common pitfalls in DDR reporting and how companies can improve their data collection and cost tracking.
Energy Transfer’s latest earnings call highlighted record-breaking production in the Permian Basin, strategic midstream and pipeline investments, and surging global demand for LNG, LPG, and NGL exports. Additionally, the company reinforced its commitment to fee-based revenue streams, ensuring long-term financial stability and margin protection. Here’s a breakdown of how Energy Transfer is positioning itself for sustained growth and profitability in the evolving energy market.
The U.S. oil and gas industry saw a slight dip in drilling activity last week, as Baker Hughes reported a one-rig decline, bringing the total national rig count to 592. This marks the first reduction after five consecutive weeks of additions, signaling a potential stabilization in drilling activity.
The midstream energy sector is undergoing a transformative shift. Leading companies are aggressively expanding and integrating their gathering, processing, pipeline, and export infrastructure. The goal? Maximize cost efficiency, expand margins, and secure direct market access from the wellhead to waterborne exports.
In a landmark deal for the Canadian energy sector, Whitecap Resources Inc. (TSX: WCP) and Veren Inc. (TSX: VRN) have announced a strategic all-share merger valued at approximately $15 billion, including net debt. The transaction will create a leading Canadian light oil and condensate producer, with a dominant position in the Alberta Montney and Duvernay formations, as well as significant operations in Saskatchewan.
The Permian Basin continues to be a driving force behind U.S. oil and gas production, and ONEOK Inc. is making strategic moves to solidify its position in this critical region. During its Q4 2024 earnings call, ONEOK outlined significant infrastructure expansions, acquisitions, and future growth opportunities in the Permian.
Phillips 66 is making big moves in the Permian Basin, a critical hub for U.S. energy production. During their Q4 2024 earnings call, the company outlined how strategic acquisitions, processing expansions, and pipeline investments will drive growth in their Midstream business and position them to capitalize on rising NGL and crude demand.
