The latest Baker Hughes rig report, released on Friday, indicates that U.S. oil and gas drilling activity remains relatively stable, with a slight decline of just one rig, bringing the total active count to 584.
The oil and gas industry has entered a new era, where energy companies are not only measured by their production capabilities but also by their commitment to sustainability and carbon management. Occidental Petroleum (Oxy) is at the forefront of this transition, leveraging innovative technologies like Direct Air Capture (DAC) and Carbon Capture and Sequestration (CCS) to reduce its carbon footprint while enhancing operational efficiency in the Permian Basin. Let’s dive into Oxy’s approach and its outlook for these cutting-edge projects.
Ovintiv Inc. (NYSE, TSX: OVV) has announced a series of transformative transactions aimed at strengthening its core portfolio and enhancing shareholder value. The company has entered into a definitive agreement to acquire premium oil-rich assets in the Alberta Montney from Paramount Resources for $2.377 billion. Concurrently, Ovintiv has agreed to divest its Uinta Basin assets in Utah for $2.0 billion.
On November 13, 2024, Helmerich & Payne (H&P) released its Q4 FY24 earnings, highlighting a year of strong performance, strategic initiatives, and a focus on innovation. In this blog post, we delve into what the company shared about its U.S. operations, their distinctive drilling solutions approach, advanced technologies driving efficiency, and the outlook for the upcoming fiscal year.
Exxon plans to cut approximately 20% of Pioneer’s workforce, impacting nearly 400 positions over the next two years.
Exxon Mobil Corp., the largest U.S. oil producer, has struck a significant deal to sell its conventional oil assets in the Permian Basin to privately held Hilcorp Energy for around $1 billion.
In their third quarter 2024 earnings report, Occidental Petroleum (Oxy) demonstrated their commitment to enhancing well performance and production efficiency, particularly in the Permian Basin. The company’s strategic focus on advanced drilling techniques, real-time data utilization, and refined well planning has positioned them to deliver strong results, even in challenging market conditions.
Coterra Energy Inc. (NYSE: CTRA), a leading independent oil and gas company, has announced its strategic expansion in the Permian Basin through two definitive agreements to acquire key assets from Franklin Mountain Energy and Avant Natural Resources.
In today’s fast-paced oil and gas industry, companies are constantly innovating to maximize efficiency, reduce costs, and minimize environmental impact. A few powerful strategies—stacked formations, cube development, optimized drilling, and advanced completions—are proving invaluable.
The U.S. oil and gas rig count remained unchanged at 585 for a third straight week, marking the longest steady period since 1987, with the total count down by 5% from last year.
