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.
bring cutting-edge automation to rigs by targeting specific operational pain points, such as repetitive tasks and high-risk manual activities, without overcomplicating implementation.
The oil and gas industry continually evolves with innovative drilling strategies and techniques aimed at optimizing resource recovery and operational efficiency. Two key concepts in modern hydrocarbon exploration and production are Cube Drilling and Stacked Plays. While both are critical to maximizing the economic and technical potential of reservoirs, they address different aspects of the exploration and development process.
In a noteworthy shift within Texas’ oil and gas industry, the Texas Commission on Environmental Quality (TCEQ) recently facilitated the transfer of air permits from Chevron USA to Scout Energy Management LLC. This change marks a significant moment for Crane County, TX, which ranks 33rd in the state for barrels of oil equivalent (BOE) production as of August 2024.
In the competitive world of oil and gas exploration, companies like Diamondback Energy are constantly evaluating and optimizing their drilling portfolios to maximize economic returns. One key concept that has emerged in this process is the ranking of drilling inventory into quartiles. This approach helps investors and stakeholders understand the quality of a company’s assets and its long-term strategy for value creation.
