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By Shariq Khan and Georgina Mccartney Slowest Permian oil output growth forecast since pandemic Permian slowdown in contrast to Trump’s ‘drill, baby, drill’ mantra Gas and water output rises as the field ages, increasing costs Gas-to-oil ratio rises as gas output up eight-fold in past decade Water-to-oil ratio already high at Permian’s core, even higher …
US Oil Producers Face New Challenges as Top Oilfield Flags Read More »
Shell CEO Wael Sawan says the company will continue to look for potential acquisitions, but warns of the risks of pursuing a major deal. Summary by Bloomberg AI Sawan expects smaller-scale, bolt-on acquisitions centered around upstream production, and says the company is always looking at dealmaking prospects in Europe and beyond. Summary by Bloomberg AI …
Shell CEO Says Pursuing Major Deal Risks Being a Distraction Read More »
Mizuho cuts EOG Resources to “neutral” from “outperform”, PT by $8 to $140, still a 9.2% upside to last close Says a key concerns is depth and quality of EOG’s remaining shale inventory, esp in oil-focused basins like Delaware, Eagle Ford Adds cash margins per barrel seems to be declining due to higher cash taxes, …
Mizuho Cuts EOG Resources to ‘Neutral’ on Inventory, Margin Worries Read More »
DALLAS, March 12, 2025 (GLOBE NEWSWIRE) — Berry Corporation (bry) (NASDAQ: BRY) (“Berry” or the “Company”) today announced financial and operating results for the fourth quarter and full year 2024, as well as a quarterly cash dividend of $0.03 per share. Berry has provided a supplemental slide deck on its results, which can be found …
(Reuters) – Exxon Mobil expects to raise output to 5.4 million barrels of oil equivalent per day in 2030, up from 4.3 million boepd now, the company’s president of upstream said on Wednesday. The production areas that the company is focused on for growth are Guyana, top U.S. oilfield the Permian, and the liquefied natural …
Exxon to Raise Output to 5.4 mln boepd by 2030 From 4.3 mln, Exec Says Read More »
(Reuters) – U.S. oil and gas producers are unlikely to increase spending this year and output increases will primarily come from improved efficiencies rather than new drilling, Baker Hughes Chief Executive Lorenzo Simonelli said on Monday. The outlook comes as U.S. President Donald Trump’s administration has repeatedly exhorted the industry to “Drill, baby, drill,” to …
Baker Hughes Says Oil Producers Unlikely to Increase Spending This Year Read More »
CALGARY, AB, March 10, 2025 /CNW/ – Whitecap Resources Inc. (“Whitecap”) (TSX: WCP) and Veren Inc. (“Veren”) (TSX: VRN) (NYSE: VRN) are pleased to announce a strategic combination to create a leading light oil and condensate producer with concentrated assets in the Alberta Montney and Duvernay. The combined company will be the largest Alberta Montney and Duvernay landholder, a prominent light oil producer in Saskatchewan and …
HOUSTON, March 03, 2025 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“Vaalco” or the “Company”) announced that it has farmed into the CI-705 block offshore Côte d’Ivoire. Vaalco will become operator of the block with a 70% working interest and a 100% paying interest though a commercial carry arrangement and is partnering …
(Reuters) – Oil and gas company Diamondback Energy said on Tuesday it would buy certain units of EnCap-backed energy producer Double Eagle in a cash-and-stock deal for about $4.08 billion. The deal would give Diamondback access to about 40,000 net acres in the core of Midland Basin, one of the last large assets in the Permian …
Diamondback Energy to Expand Permian Presence with $4.08 Billion Deal Read More »
When Elliott Investment Management buys into a company to agitate for change, bankers and lawyers who have faced the hedge fund say executives can expect a strong view on their shortcomings, backed by meticulous research and financial firepower. Now, storied oil giant BP is in Elliott’s sights. The investment firm, which manages $70 billion, has …
Hedge Fund Elliott Commands Attention in C-suites as Relentless Activist Read More »
