US Drillers Add Most Oil, Gas Rigs in a Week Since September

The oil and gas rig count, an early indicator of future output, rose by seven to 629 in the week to March 15.

Orange Basin Serves Up More Light Oil

Galp’s Mopane-2X exploration well offshore Namibia found a significant column of hydrocarbons, and the operator is assessing commerciality of the discovery.

Laredo Oil Subsidiary, Erehwon Enter Into Drilling Agreement with Texakoma

The agreement with Lustre Oil and Erehwon Oil & Gas would allow Texakoma to participate in the development of 7,375 net acres of mineral rights in Valley County, Montana.

Sinopec Brings West Sichuan Gas Field Onstream

The 100 Bcm sour gas onshore field, West Sichuan Gas Field, is expected to produce 2 Bcm per year.

NextDecade Targets Second Half of 2024 for Phase 2 FID at Rio Grande LNG

NextDecade updated its progress on Phase 1 of the Rio Grande LNG facility and said it is targeting a final investment decision on two additional trains in the second half of 2024.

Forum Energy Signs MOU to Develop Electric ROV Thrusters

The electric thrusters for ROV systems will undergo extensive tests by Forum Energy Technologies and SAFEEN Survey & Subsea Services.

Kimmeridge Fast Forwards on SilverBow with Takeover Bid

Investment firm Kimmeridge Energy Management, which first asked for additional SilverBow Resources board seats, has followed up with a buyout offer. A deal would make a nearly 1 Bcfe/d Eagle Ford pureplay.

TPH: Lower 48 to Shed Rigs Through 3Q Before Gas Plays Rebound

TPH&Co. analysis shows the Permian Basin will lose rigs near term, but as activity in gassy plays ticks up later this year, the Permian may be headed towards muted activity into 2025.

US Raises Crude Production Growth Forecast for 2024

U.S. crude oil production will rise by 260,000 bbl/d to 13.19 MMbbl/d this year, the EIA said in its Short-Term Energy Outlook. 

Laredo Oil Settles Lawsuit with A&S Minerals, Erehwon

Laredo Oil said a confidential settlement agreement resolves a title dispute with Erehwon Oil & Gas LLC and A&S Minerals Development Co. LLC regarding mineral rights in Valley County, Montana.