Under new U.S. Bureau of Land Management rules, royalty rates will jump to 16.67% from 12.5% and minimum lease bonds will increase to $150,000 from $10,000, which industry groups say will deter future oil and gas development.
The Shale 3.0 era or capital discipline era will be followed by the Shale 4.0 era, which will see companies focused on building scale, according to Rystad Energy Senior Shale Analyst Matthew Bernstein.
BPX Energy is looking to boost its U.S. production over 60% by 2030 as it considers bringing online a fourth processing facility in the Permian by mid-year 2025, Clark Edwards, the company’s vice president of development, said during SUPER DUG in Fort Worth.
The energy industry is lagging in the race to implement AI, but Sebastian Gass, CTO of Quantum Capital Group, offered a few solutions during Hart Energy’s 2024 SUPER DUG Conference & Expo.
Empire Petroleum provided updates on its Williston Basin development drilling program in its first quarter 2024 earnings results.
Apache CEO John Christmann detailed plans for the Permian Basin and Suriname during the SUPER DUG Conference & Expo.
J. Marshall Adkins, head of energy investment banking at Raymond James, details the future of natural gas prices and misconceptions about crude demand coming to an end in this Hart Energy Exclusive interview.
The U.S. is preparing to prioritize issuing limited licenses to operate in Venezuela to companies with existing oil production and assets over those seeking to enter the sanctioned OPEC nation for the first time.
Crescent Energy’s acquisition of SilverBow Resources will create the second largest Eagle Ford Shale E&P with production of about 250,000 boe/d, the companies said.
Diamondback Energy’s President and CFO Kaes Van't Hof also addressed new Permian exploration and the lack of “fun” dealing with the FTC on its deal to buy Endeavor Energy Resources.