EOG Resources Inc., Houston, will this year keep its capital spending in line with 2023’s roughly $6 billion as it prioritizes returns over production volumes, president Lloyd “Billy” Helms Jr. said Jan. 4.
APA Corporation (“APA” or the “Company”) (NASDAQ: APA) and Callon Petroleum Company (“Callon”) (NYSE: CPE) have entered into a definitive agreement under which APA will acquire Callon in an all-stock transaction valued at approximately $4.5 billion, inclusive of Callon’s net debt.
From November 8 to December 17, 2023, there were seven recorded earthquakes in Culberson and Reeves counties, near Guadalupe Mountains National Park.
U.S. drilling day rates appear to have turned the corner, moving higher in November across all the Enverus Day Rate Survey’s seven regions amid cautious optimism as 2024 approaches. The U.S. composite rate rose $58 to $23,679 from October after sliding $840 over the previous five months.
Williams announced that it has reached an agreement to acquire a portfolio of natural gas storage assets from an affiliate of Hartree Partners LP for $1.95 billion.
electric hydraulic fracturing has proven to be a lower-cost, quieter and more environmentally friendly alternative to traditional diesel and dual-fuel equipment.
The United States is preparing for a significant increase in oil production. Recent reports from S&P Global Commodity Insights reveal a staggering prediction: 13.3 million barrels per day of crude and condensate during the fourth quarter of this year, making history.
The Energy Information Administration reported production of crude oil in December averages 392,000 barrels a day but in January, it is expected to decline to 389,000 barrels a day.
From west Texas and eastern New Mexico north to North Dakota, oil producers are increasing their production from fewer rigs. The ramped-up production is more than what the analysts expected and now it’s at a record pace. This is a result of drilling rigs spudding on average of 2 more wells per year.
Battalion Oil Corporation (NYSE American: BATL) (“Battalion” or the “Company”) announced today that it had entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Fury Resources, Inc. (“Buyer” or “Parent”), pursuant to which Parent will acquire all of the outstanding shares of Common Stock of the Company (the “Common Stock”), for $9.80 per share in cash (the “Merger Consideration”), which represents a total transaction value of approximately $450 million.
