Oil Price Guyana, one of the world’s hottest frontier oil plays, is expected to have its new oil production sharing agreement (PSA) model ready in time for its auction that runs through mid-April, according to Guyana’s VP. The oil and gas industry has been eagerly waiting for Guyana to draft new contract terms that have been a long time in
Oil and Gas 360 TULSA, OK, Feb. 14, 2023 (GLOBE NEWSWIRE) — Vital Energy, Inc. (NYSE: VTLE) (“Vital” or the “Company”) today announced the signing of a definitive purchase and sale agreement to acquire the assets of Driftwood Energy Operating, LLC (“Driftwood”), inclusive of all leasehold interests and hedges, in exchange for 1,578,948 shares of Vital common stock and $127.6
World Oil (WO) – Permian Strategic Partnership (PSP) President and CEO Tracee Bentley made a compelling case for the positive impact of oil and natural gas production on local communities during her testimony before the U.S. House Subcommittee on Energy and Mineral Resources at The University of Texas Permian Basin Midland Campus on Feb 13. The hearing, entitled “Federal
World Oil WO) — Growing oil and gas company Verde Bio Holdings is drilling new wells on its shale properties amidst higher oil and gas prices. The company recently received notices that over eight new wells have been brought online. The main areas experiencing growth are on the company’s Permian Basin and Haynesville shale properties. Verde Bio Holdings now has
World Oil (Bloomberg) – North Dakota’s Bakken shale field — once the largest and busiest American shale patch — is showing signs of age, threatening to hold back U.S. oil production as the world thirsts for more crude. Mature wells that are producing more gas than expected are hurting crude output from the Bakken, the Energy Information Administration said in
Oil and Gas 360 For Immediate Release – STEAMBOAT SPRINGS, Colorado – January 26, 2023 – Three Crown Petroleum (“Three Crown” or the “Company”) today provided a drilling update of the Falcon Prospect in Converse County, Wyoming. The Company spud the prospective Patterson 3H, a 1.35 mile horizontal well targeting the Niobrara formation on November 24, 2022 that reached a
Oil Price One of the biggest oil producers taking part in the most prolific U.S. shale play has decided to stop routine gas flaring in the Permian and plans to push for all other shale well operators to do the same. In an interview with Reuters, Exxon officials said they would insist on tougher flaring regulations in a bid to achieve a
World Oil Publisher’s Note: Canacol Energy will be a presenter at EnerCom Dallas- The Energy Investment & ESG Conference in Dallas on April 18-19, 2023. Register now. (WO) — Canacol Energy Ltd. made three gas discoveries at Dividivi 1, Saxofon 1, and Chimela 1 in Colombia’s Middle Magdalena basin. The company also provided updates regarding its near-term drilling programs. Saxofon
World Oil (WO) — Canadian Overseas Petroleum Limited (COPL) and its partners announced first oil production from the Frontier 1 sands at its Cole Creek Unit. The company began recompletion operations on the well 11-27-35n-77w at the end of Dec. 2022 to evaluate the light oil potential of the reservoir sands. Frontier 1’s first oil production The lowest of
Oil and Gas 360 OKLAHOMA CITY, Jan. 18, 2023 /PRNewswire/ — Chesapeake Energy Corporation (NASDAQ:CHK) today announced that it has entered into an agreement to sell the Brazos Valley region of its Eagle Ford asset to WildFire Energy I LLC for $1.425 billion. “Today marks an important step on our path to exiting the Eagle Ford as we focus our capital on
BOE Report Oil production in South Texas, home of the second largest U.S. shale field, is expected to rise as much as 4% this year, as higher prices spur more drilling and as U.S. crude exports set new records. Output in the Eagle Ford shale field tanked in 2020, but has returned to growth with an average increase per month
Nasdaq HOUSTON – Exxon Mobil Corp. XOM.N is preparing to approve its fifth oil production project in Guyana and is considering taking additional exploration acreage, the head of its Guyanese operations, Alistair Routledge, told Reuters in an interview. The efforts would add significantly to the $30 billion committed thus far by Exxon and Guyana partners Hess Corp HES.N and CNOOC Ltd 0883.HK. The latest
