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E&P Highlights: Feb. 3, 2025

Here’s a roundup of the latest E&P headlines, from a forecast of rising global land rig activity to new contracts.

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Chevron Completes Farm-In Offshore Namibia

Chevron now has operatorship and 80% participating interest in Petroleum Exploration License 82 offshore Namibia.

E&P Highlights: Feb. 10, 2025

Here’s a roundup of the latest E&P headlines, from a Beetaloo well stimulated in Australia to new oil production in China.

US Drillers Add Oil, Gas Rigs for Second Week in a Row, Baker Hughes Says

Despite this week's rig increase, Baker Hughes said the total count 6% below this time last year.

E&P Highlights: Feb. 3, 2025

Here’s a roundup of the latest E&P headlines, from a forecast of rising global land rig activity to new contracts.

API’s Multi-Pronged Approach to Lower Carbon Operations

API has published nearly 100 standards addressing environmental performance and emissions reduction, which are constantly reviewed to support low carbon operations without compromising U.S. energy security.

TGS to Reprocess Seismic Data in India’s Krishna-Godavari Basin

TGS will reprocess 3D seismic data, including 10,900 sq km of open acreage available in India’s upcoming 10th Open Acreage Licensing Policy (OALP) bid round blocks.

E&P Highlights: Jan. 27, 2025

Here’s a roundup of the latest E&P headlines including new drilling in the eastern Mediterranean and new contracts in Australia.

Tamboran, Falcon JV Plan Beetaloo Development Area of Up to 4.5MM Acres

A joint venture in the Beetalo Basin between Tamboran Resources Corp. and Falcon Oil & Gas could expand a strategic development spanning 4.52 million acres, Falcon said.

Could Trump’s Ban on Wind Leasing Halt Similar Oil and Gas Sales?

A law signed during the Biden administration ties offshore wind lease sales to similar auctions for oil and gas rights on federal lands. It’s unclear whether President Trump’s Jan. 20 executive order to halt wind leasing could spill over into the E&P world.

Watch for Falling Gas DUCs: E&Ps Resume Completions at $4 Gas

Drilled but uncompleted (DUC) gas wells that totaled some 500 into September 2024 have declined to just under 400, according to a J.P. Morgan Securities analysis of Enverus data.

FLNG Gimi Receives First Gas from BP’s FPSO in the GTA Field

Golar LNG’s Gimi FLNG vessel will support BP, which began flowing gas from wells at the Greater Tortue Ahmeyim Phase 1 LNG project in early January.

Formentera Joins EOG in Wildcatting South Texas’ Oily Pearsall Pay

Known in the past as a “heartbreak shale,” Formentera Partners is counting on bigger completions and longer laterals to crack the Pearsall code, Managing Partner Bryan Sheffield said. EOG Resources is also exploring the shale.

Enverus: M&A Set to Cool with Smaller Deals, Higher Breakevens

With fewer acquisition targets, Enverus Intelligence Research said the quality of acquired inventory is declining, with breakevens averaging $50/bbl in 2024 versus $45/bbl in 2022 and 2023.

Industry Players Get Laser Focused on Emissions Reduction

Faced with progressively stringent requirements, companies are seeking methane monitoring technologies that make compliance easier.

Standard Lithium, Equinor Win $225MM DOE Grant for Lithium Project

Equinor and Standard Lithium aim to reach a final investment decision on its South West Arkansas lithium project in the Smackover Formation by year-end 2025.

E&P Highlights: Jan. 13, 2025

Here’s a roundup of the latest E&P headlines, including Chevron starting production from a platform in the Gulf of Mexico and several new products for pipelines.

Atlas Energy’s Dune Express Makes First Proppant Delivery to NM

Atlas Energy Solutions’ 42-mile Dune Express fully electric conveyor system delivered its first commercial load of proppant sand from Texas to New Mexico on Jan. 12.

Pioneer to Adapt Emvolon’s Flare Gas-to-Methanol Tech

The Department of Energy awarded Pioneer Energy $6 million to demonstrate the technology at an oil and gas facility in the Eagle Ford Shale for 12 months.

On The Market This Week (Jan. 6, 2025)

Here is a roundup of listings marketed by select E&Ps during the week of Jan. 6.

Analysis: Middle Three Forks Bench Holds Vast Untapped Oil Potential

Williston Basin operators have mostly landed laterals in the shallower upper Three Forks bench. But the deeper middle Three Forks contains hundreds of millions of barrels of oil yet to be recovered, North Dakota state researchers report.