Exploration & Production - News

EIA: US Crude Production In November Rose To 11.9 Million bbl/d

U.S. crude oil production rose to a new high of 11.9 million barrels per day (MMbbl/d) in November, up 345,000 bbl/d from the previous month, the U.S. Energy Information Administration said in a monthly report on Jan. 31.

February 1, 2019

Chesapeake Energy Closes Nearly $4 Billion Acquisition Of Eagle Ford Producer WildHorse

Chesapeake Energy completed its acquisition of WildHorse Resource Development Corp. on Feb. 1, creating an Eagle Ford oil producing powerhouse.

February 1, 2019

Chevron’s Quarterly Profit Rises On Higher Oil Production, Prices

Results from Chevron reflected higher oil and gas production with output for the quarter up 156,000 barrels per day from a year earlier. Prices paid for its crude also rose.

February 1, 2019

Exxon Mobil’s Profit Tops Estimates As Production Rebounds

Exxon Mobil said its oil and gas production in the Permian Basin, the largest U.S. shale basin, rose 90% over a year ago.

February 1, 2019

Pennsylvania Governor Seeks Natural Gas Tax To Raise $4.5 Billion

A new tax on extracting natural gas is being proposed by the governor of Pennsylvania, home to the Marcellus and Utica shale basins and the second biggest gas-producing state in the U.S. 

January 31, 2019

Exxon Mobil Planning To Double Profit By Combining Exploration Units

Oil major Exxon Mobil said Jan. 31 it would create three new separate E&P companies, effective April 1, in an effort to double its profit by 2025.

January 31, 2019

ConocoPhillips Beats Profit Estimates On Higher Production, Prices

ConocoPhillips beat quarterly profit estimates on Jan. 31 as the world’s largest independent oil producer sold more oil at higher prices, sending its shares up 2 percent before the opening bell.

January 31, 2019

Britain Auctions 300 Million-Barrel Offshore Oil Field

Britain’s Oil and Gas Authority has launched an offshore licensing round for the Greater Buchan Area located in the North Sea.

January 31, 2019

Marathon Oil Names Lee Tillman To Succeed Dennis Reilley As Chairman

Marathon Oil has appointed Lee Tillman, who will also continue to serve as president and CEO, to succeed Dennis Reilley as the U.S. shale producer’s new chairman

January 30, 2019

IEA Chief: Too Early To Assess Impact Of Latest U.S. Sanctions On Venezuela

The International Energy Agency (IEA) has yet to assess the impact of the latest U.S. sanctions on Venezuelan oil supplies, its executive director said on Jan. 30.

January 30, 2019

Hess Production Tops Estimates On Bakken, Gulf Of Mexico Strength

Total production for the quarter ended Dec. 31 was 289,000 barrels of oil equivalents per day (boe/d), down from 300,000 boe/d a year earlier. Analysts were expecting 271,908 boe/d, according to IBES data from Refinitiv.

January 30, 2019

New Mexico Governor Moves To Limit Methane Emissions; Legislation Seeks To Increase State’s Royalty Rate

New Mexico Governor Michelle Lujan Grisham on Jan. 29 ordered state officials to develop regulations to reduce methane emissions from its oil and gas industry and separately rollback statewide greenhouse gas output over the next decade.

January 30, 2019

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