Phillips 66 (NYSE: PSX) has taken a significant step to strengthen its position in the Permian Basin midstream sector by announcing a definitive agreement to acquire EPIC Y-Grade GP, LLC and EPIC Y-Grade, LP (collectively referred to as “EPIC NGL”). The acquisition is valued at $2.2 billion in cash, subject to customary purchase price adjustments.
In a groundbreaking development for the oil and gas industry, Coterra Energy Inc. has become the first operator in North America to implement Halliburton’s cutting-edge Octiv® Auto Frac service. This innovative technology brings automation to hydraulic fracturing, fundamentally transforming how stages are executed during well completions. The collaboration marks a significant milestone in advancing operational efficiency in hydraulic fracturing.
U.S. drilling rig activity remained steady over the past week, with the total count holding at 589 rigs, according to the latest Rig Report from Baker Hughes Co.
Permian Resources has taken another significant step in optimizing its portfolio by divesting a key portion of its Reeves County midstream assets to Kinetik Holdings. The $180 million transaction is part of the company’s ongoing strategy to streamline operations and focus on its core exploration and production (E&P) business in the Delaware Basin.
n this report, we highlight the top 10 oil and gas operators in Canada that have shown the largest year-over-year increase in wells drilled between 2024 and 2023. These companies represent the driving forces behind Canada’s energy production growth.
Trident Intrastate Pipeline is a 216-mile-long pipeline that will originate near Katy, Texas, and stretch across several counties, including Grimes, San Jacinto, Liberty, Hardin, and Jefferson. The pipeline will feature both 48-inch and 42-inch mainline sections and is designed to transport up to 2.8 billion cubic feet of natural gas per day (Bcf/d) to key delivery points across Texas.
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
