he Permian Basin is experiencing a significant shift as it becomes a hub for energy-intensive industries like bitcoin mining and AI data centers, alongside the traditional oil and gas operations moving towards electrification to meet net-zero goals.
The company has now drilled 3 successful multi-leg oil wells in Hope Valley, which has established it as an exciting new crude oil discovery in the Sparky formation. Surge has now identified the potential for up to 100 multi-lateral drilling locations at Hope Valley.
To compile the Top 20 Oil Producing Companies in the US, we selected the largest companies operating in the US oil industry based on their 2023 revenues.
ConocoPhillips’ market value is over $155 billion, making it one of the largest U.S. oil and gas producers. Marathon Oil adds its multi-basin portfolio, particularly strengthening ConocoPhillips’ presence in the Eagle Ford, Bakken, Delaware Basin, and Anadarko Basin.
Double Eagle, an oil and gas developer, is considering the sale of its Permian Basin-based producer, reported Reuters, citing sources.
Last week the Texas Commission on Environmental Quality (TCEQ) approved the transfer of 33 air permits related to oil & gas facilities from LEGACY RESERVES OPERATING LP to HIBERNIA RESOURCES IV, LLC. The counties include Howard & Martin.
During the BP Q1 2024 Results Call, Murray Auchincloss and Kate Thomson provided several updates and insights regarding BPX operations in the Permian Basin: Oil & Gas Data Download BPX Wells Drilled Since 2023 BPX Permian Basin Plan Murray Auchincloss expressed confidence in BPX’s growth and productivity, highlighting the strong…
The increasing gassiness of the Permian Basin poses challenges for upstream oil production but presents significant opportunities for midstream companies.
According to Statista, the break-even WTI oil prices for existing wells in the Delaware and Midland sub-basins are $31 per barrel and $38 per barrel, respectively. For new wells, the break-even prices are $64 per barrel and $62 per barrel, respectively.
ConocoPhillips (NYSE: COP) and Marathon Oil Corporation (NYSE: MRO) have entered into a definitive agreement for ConocoPhillips to acquire Marathon Oil in an all-stock transaction valued at $22.5 billion, including $5.4 billion of net debt.
