(Oil Price)– Despite the slide in oil prices in the second quarter, ExxonMobil (NYSE: XOM) reported on Friday earnings that exceeded analyst estimates on the back of increased oil and gas production in the U.S. Permian shale basin and offshore Guyana. Exxon’s earnings stood at $7.1 billion for the second quarter, or $1.64 per share, as the company achieved its highest
Publisher’s Note: New Era Helium will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown, August 17-20, 2025. Register to attend. (Oil & Gas 360)– New Era Helium, Inc. (Nasdaq: NEHC) (“NEH” or the “Company”), a next-gen exploration and production platform in the Permian Basin, today announced that Texas Critical Data Centers LLC (“TCDC”), its 50/50 joint venture with Sharon AI, Inc. has
(World Oil)– The methane intensity of oil and gas production in the Permian basin—an area responsible for half of U.S. oil production and one fifth of natural gas—declined by more than 50% during the 2022-2024 period as improved operations, better equipment and the utilization of AI and other advanced technologies led to reductions across all observable plume rates (large and
(Oil & Gas 360) – Publisher’s Note: Mach Natural Resources will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown, August 17-20, 2025. Register to attend. OKLAHOMA CITY–(BUSINESS WIRE)– Mach Natural Resources LP (NYSE: MNR) (“Mach” or the “Company”) today announced it has entered into two separate definitive agreements: one to acquire certain oil and gas assets from Sabinal Energy, LLC (“Sabinal”), and
(World Oil) – Chevron Corp. plans to lay off nearly 800 employees in the Permian basin, its biggest oil-production operation globally. The bulk of the reductions will come from Chevron’s Midcontinent campus on the outskirts of Midland, Texas, the company said in a filing with the Texas Workforce Commission. The filing listed the layoff date as July 15, 2025. “Chevron is
(Oil Price) – Back in 2017, oil production in the Permian stood at 2.2 million barrels daily. Today, the Permian is producing over 6 million barrels daily, accounting for nearly half of the U.S. total. Predictions of a looming peak have lately multiplied, but according to Wood Mackenzie, the Permian is not done yet—not if prices improve. To be sure, the boom
(BOE Report) – NEW YORK (Reuters Breakingviews) – Oil fields are just as quick to make fortunes as break them. The 1901 Spindletop gusher in Texas jumpstarted the petroleum age, crashing oil prices. A mere two years later, over-extraction drove the field into decline. Sure, today’s industry is far larger and more sophisticated. But even in the mighty Permian Basin, which
(Oil Price) – First-quarter earnings at ExxonMobil (NYSE: XOM) topped analyst estimates as higher production in the Permian and offshore Guyana offset part of the lower realizations due to falling oil prices. Despite the lower earnings compared to a year ago, Exxon expressed confidence that the structural and cost-saving measures of the past few years have prepared it to weather the
Publisher’s Note: New Era Helium will present at EnerCom Denver—The Energy Investment Conference on August 17-20, 2025. Register to attend. (Oil & Gas 360) – MIDLAND, Texas–April 29, 2025. New Era Helium, Inc. (Nasdaq: NEHC) (“NEH” or the “Company”), an exploration and production (E&P) company sourcing helium from natural gas reserves in the Permian Basin, today announced it will commence its
(Oil & Gas 360) ~20,000 net acres Significant multi-bench drilling inventory Upsize of USEDC’s syndicated revolving credit facility led by Citibank, N.A. from $165 million to $300 million Fort Worth, TX – U.S. Energy Development Corporation (USEDC), a Fort Worth-based exploration and production company focused on developing oil and gas projects for itself and its partners, has acquired ~20,000 net acres in Reeves
(World Oil) – The Railroad Commission of Texas on Friday released its figures for March drilling in the state, showing a noticeable gain over the previous month’s number. The overall figure also tied the level achieved in January. RRC figures show 1,072 new drills recorded during March (up 27.5%), including 818 oil wells, 246 gas wells and eight dry holes. This
( Oil & Gas 360) – THE WOODLANDS, Texas, April 01, 2025 (GLOBE NEWSWIRE) — Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) announced that it has completed its previously-announced acquisition (the “Transaction”) of the Central Basin Platform (“CBP”) assets of Lime Rock Resources IV, LP (“Lime Rock”) on March 31, 2025. Lime Rock’s CBP operations are located in
