The total U.S. rig count is 583, as per the latest Baker Hughes report Sept 3 2024
U.S. Rig Count Declines Amidst Mixed Regional Activity – Baker Hughes
Warwick Investment Group Expands Eagle Ford Footprint with Strategic Acquisition
Warwick Investment Group’s recent acquisition in the Eagle Ford Basin is a significant move that not only enhances their operational footprint but also solidifies their position as a key player in one of the most productive oil regions in the United States.
ExxonMobil Sharpens Focus with $60B Acquisition and Strategic Asset Sales in the Permian Basin
ExxonMobil’s recent actions illustrate a strategic balance between expansion and refinement. By acquiring Pioneer Natural Resources, the company has bolstered its position in the Permian Basin, setting ambitious production targets for the future. Simultaneously, ExxonMobil’s decision to divest non-core assets highlights its commitment to maintaining a lean, high-performing portfolio that prioritizes returns over sheer size. This approach, mirrored by industry peers like Occidental and Chevron, positions ExxonMobil to navigate market fluctuations effectively, ensuring it remains a leading force in the global energy landscape while delivering sustained value to its shareholders.
ONEOK Announces Strategic $5.9B Acquisition to Expand Permian Basin Platform and Enhance U.S. Footprint
On August 28, 2024, ONEOK, Inc. (NYSE: OKE) announced its plan to acquire Global Infrastructure Partners’ (GIP) entire interest in EnLink Midstream, LLC (NYSE: ENLC) and Medallion Midstream, LLC, significantly enhancing ONEOK’s presence in the Permian Basin and expanding its footprint in the Mid-Continent, North Texas, and Louisiana regions.
Buffett-Backed Energy Stocks Poised for Growth Amid Potential Oil Rally
Warren Buffett’s significant investment in Occidental Petroleum signals confidence in a potential oil price rally, with analysts predicting strong upside for the stock. Helmerich & Payne and Chesapeake Energy are also positioned for growth, with forecasts of substantial EPS increases and favorable price targets from Wall Street.
Rapid Expansion of Permian Basin Gas Processing Capacity Amid Infrastructure Strains
Midstream operators in the Permian Basin are rapidly expanding natural gas processing capacity to keep pace with the region’s anticipated production growth. As the basin continues to experience infrastructure challenges, particularly in processing and egress capacities, companies are investing heavily in new facilities and system expansions.
Emerging DLE Technologies: Revolutionizing Lithium Extraction for the Future
Direct Lithium Extraction (DLE) is an innovative process used to extract lithium from brine, which is a highly saline water found either on the Earth’s surface or pumped from underground.
New Mexico’s Rising Oil Dominance: Lea and Eddy Counties Driving US Production Growth
New Mexico’s Lea and Eddy counties have quickly risen to prominence within the U.S. oil industry, demonstrating the region’s potential to play a key role in the nation’s energy future.
Exxon Mobil to Sell $1B Conventional Assets in Permian to Focus on Shale Growth
Exxon Mobil Corp. is exploring the sale of conventional oil assets in the Permian Basin’s Central Basin, which includes older wells that produce small but stable amounts of oil.
Canada’s First LNG Export Project Set to Begin Early: A Game Changer for Global Energy
LNG Canada, is nearing reality, with the first shipments expected to commence sooner than anticipated. Originally slated for mid-2025, the project is now on track to deliver its first cargo by the end of this year, signaling a major milestone for Canada’s energy sector and the global LNG market.
