A ‘Unicorn:’ EOG Ropes Last Large Undeveloped Eagle Ford Oil Block
EOG Resources purchased the 30,000-net-acre block that includes at least 120 locations for 3-mile laterals from little known Arrow S Energy Operating.
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Big Oil Earnings Show Split in Production Strategy, Shareholder Returns
By Sheila Dang and Shadia Nasralla Exxon and Shell maintain buybacks amid oil price slump Chevron and BP reduce buybacks due to market conditions Exxon benefits from Guyana oilfield, Chevron seeks entry HOUSTON/LONDON, May 2 (Reuters) – Big Oil’s first-quarter earnings have shown a clear split in how companies are positioned to weather the downturn …
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Oil Posts Biggest Weekly Loss in a Month Ahead of OPEC+ Meeting
By Shariq Khan Oil down 8% this week in steepest weekly decline since March OPEC+ moves up meeting to discuss June output plan to May 3 Group to decide whether to accelerate or slow supply hikes Signs of trade-war de-escalation help check oil’s decline NEW YORK, May 2 (Reuters) – Oil prices fell over 1% …
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NXT Energy Solutions Announces New Survey Contract in Africa
NXT Energy Solutions, in partnership with Synergy Exploration and Production, said it expects to begin acquiring data in the third quarter.
Shell CEO Prefers Share Buybacks Over a Bid for BP, FT reports
Shell has been persistently linked to a bid for its smaller rival BP as the latter lost more than 30% of its value in the past 12 months, the Financial Times reported.
Archrock Closes $357MM Deal for Natural Gas Compression Systems
Archrock acquired NGCS’ compression business, which includes approximately 351,000 hp— 71% of which operates in the Permian Basin.
Amid Shaky Oil Market, Chevron Cuts Buyback Plans
Chevron Corp. beat earnings expectations and the oil giant said it’s prepared for the cyclical changes in the market.
Arevon Advances Development of Missouri Solar Projects
Arevon Energy is developing the 430-megawatt Kelso 1 and 2 solar projects, with the first phase anticipated to achieve commercial operations by year-end 2025.
Energy Transition in Motion (Week of May 2, 2025)
Here is a look at some of this week’s renewable energy news, including a solar power deal backed by Meta Platforms.
US Drillers Cut Oil and Gas Rigs for First Time in Three Weeks
Baker Hughes said oil rigs fell by four to 479 this week, while gas rigs rose by two to 101.