Sunday, June 1, 2025

Energy Experts to Discuss Booming U.S. Petroleum Exports, Development of Shale and Conventional Plays in 2019 and Oil Market Economics at EnerCom Dallas

For the first time in its storied history, West Texas’s Permian Basin will likely surpass a major milestone in March, when its production is forecast to exceed four million daily barrels (4 MMBOPD), according to U.S. Department of Energy projections. The Permian now accounts for 48% of all unconventional oil output and is producing more than all the major basins

Drilling Rigs Continue to Drop Across North America

Rig counts fall in top four states By Richard Rostad, analyst, Oil & Gas 360 Drilling activity fell in the U.S. and Canada this week, as producers continue to adapt to lower oil prices, according to Baker Hughes, which tracks drilling activity every week. A net four rigs shut down in the week, leaving 1,047 rigs active in the U.S.

Extraction Oil & Gas Ups Stock Repurchase Program - Oil & Gas 360

Extraction Shares See Best Day Since IPO

Stock up 19% on earnings By Richard Rostad, analyst, Oil & Gas 360 Extraction Oil & Gas (ticker: XOG) announced fourth quarter results and reserves today, showing net income earnings of $99.9 million, or $0.52 per share. Extraction earned $114.6 million over the full year, $0.56 per share. Both of these results vastly exceed the previous year’s results, as Extraction