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.
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.
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.
As CEO, David Ward will lead and build out PropFlow’s operations of eliminating debris from proppant at well sites in the Permian Basin and other plays.
As operators scour the Permian Basin for M&A opportunities, they’re keeping an eye on a tepid divestiture market. Family-owned oil companies also stand out among the pack of private inventory holders remaining in the Permian, according to Enverus Intelligence Research.
Oil per lateral foot in the Utica is as good as top Permian wells, EOG Resources told analysts May 3 as the company is taking the play to three-mile laterals and longer.
Kinetik Holdings will buy Durango Permian infrastructure for $765 million, excluding contingency payments, and sell its interests in the Gulf Coast Express pipeline to AcrLight Capital Partners for $540 million.
The memorandum of understanding between CGG and Baker Hughes will bring the companies’ complimentary skillsets together to explore carbon capture and sequestration solutions.
Midstream company Williams saw overall demand growth as heavy gas volumes passed through its network.