Discoveries and Formations – Page 3

Civitas Resources to focus on Permian, DJ basin drilling, production growth in 2024

February 29, 2024

World Oil (WO) – In its Full Year 2023 financial results, Civitas Resources revealed it increased production in the Permian and DJ basins in Q4 2023. It also unveiled plans to continue drilling momentum at the assets in 2024. 2024 outlook. In the report, the company maintained its previously-provided 2024 production guidance and decreased its estimated 2024 capital expenditures by

Chesapeake Energy to reduce Haynesville, Marcellus rig count following Southwestern natural gas megadeal

February 22, 2024

World Oil (WO) – Chesapeake Energy announced that it is lowering prior capital expenditure guidance approximately 20% to $1.25 – $1.35 billion through rig count reductions and deferring completions and turn-in-lines in its 2024 outlook report. Chesapeake is currently operating nine rigs (five in the Haynesville and four in the Marcellus) and four frac crews (two in each basin). Given

Zephyr Energy clears key regulatory hurdle to progress well drilling project in Utah

February 15, 2024

World Oil (WO) – Rocky Mountain-based oil and gas company Zephyr Energy plc has received state and federal Sundry Notice approvals for the amendment of the drilling permit related to the forthcoming “twinned” redrill of the State 36-2 well. These are the final regulatory approvals required for the company to spud the State 36-2R well on its project in the

Bayswater acquires new DJ assets & continues to expand Colorado footprint

February 14, 2024

Oil and Gas 360 NEWS PROVIDED BY Bayswater Exploration & Production, LLC 12 Feb, 2024, 13:08 ET DENVER, Feb. 12, 2024 /PRNewswire/ — Bayswater Exploration & Production (Bayswater), a Denver-based oil and natural gas development company, recently acquired assets that will continue to expand its operations in the Denver Julesburg (DJ) Basin in Weld County, Colorado. In an agreement with Confluence DJ LLC, a

Diamondback Energy, Endeavor Energy create “largest” Permian oil and gas operator with $26 billion shale megadeal- oil and gas 360

Diamondback Energy, Inc. and Endeavor Energy Resources, L.P. to merge to create a premier Permian independent oil and gas company

February 12, 2024

Oil and Gas 360 MIDLAND, Texas, Feb. 12, 2024 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) and Endeavor Energy Resources, L.P. (“Endeavor”), today announced that they have entered into a definitive merger agreement under which Diamondback and Endeavor will merge in a transaction valued at approximately $26 billion, inclusive of Endeavor’s net debt. The combination will create a premier Permian independent operator.

Zephyr Energy progresses oil drilling in Utah, reports production shut-ins in North Dakota

February 12, 2024

World Oil (WO) – Rocky Mountain oil and gas company Zephyr Energy plc provided an update on its project in the Paradox basin, Utah, and its non-operated project in the Williston basin, North Dakota. Paradox project. Zephyr’s operations team continues to progress planning for the forthcoming “twinned” redrill of the State 36-2 well. In late 2023, to ensure an optimal

PEDEVCO announces approval of D-J Basin development plan for Roth 2-11 wells and operations update

February 6, 2024

Oil and Gas 360 HOUSTON, TX / ACCESSWIRE / February 5, 2024 / PEDEVCO Corp. (NYSE American:PED) (“PEDEVCO” or the “Company”), an energy company engaged in the acquisition and development of strategic, high growth energy projects in the U.S., today announced that it received approval on January 31, 2024 from the Colorado Energy and Carbon Management Commission (ECMC) of the Company’s Roth

Vital Energy closes second transaction to acquire additional working interests related to recent Permian Basin acquisition

February 6, 2024

Oil and Gas 360 TULSA, OK, Feb. 05, 2024 (GLOBE NEWSWIRE) — Vital Energy, Inc. (NYSE: VTLE) (“Vital Energy” or the “Company”) today announced the second acquisition of additional working interests in producing assets associated with the recent asset acquisition from Henry Energy LP, Moriah Henry Partners LLC and Henry Resources LLC (collectively “Henry”) for total consideration of approximately $78

Permian Resources adds 17,000 acres to portfolio following Earthstone Energy acquisition

February 6, 2024

World Oil (WO) – Permian Resources Corporation announced a series of recent portfolio optimization transactions consisting of two bolt-on acquisitions, a sizeable acreage swap, a divestiture of non-core assets and additional grassroots acquisitions. Recent acquisitions. Permian Resources recently executed two separate transactions to acquire a total of approximately 11,500 net leasehold acres and 4,000 net royalty acres located in Eddy

North Dakota oil production climbing back faster than anticipated

January 26, 2024

Oil Price North Dakota’s production of crude oil is returning to full force at a quicker pace than first suggested by authorities, new data from the state’s regulator showed on Friday. Crude oil production in the Peace Garden State is now down by between 30,000 and 80,000 bpd after extreme cold led to operational challenges. Associated natural gas production—the natural

Chevron to sell Duvernay shale assets following major Hess acquisition

January 22, 2024

World Oil (Bloomberg) – Chevron Corp. has begun marketing its Duvernay shale holdings in Alberta as the oil giant divests assets following its agreement to buy Hess Corp. Chevron plans to shed all of its 70% stake in the Western Alberta oil and natural gas play, spokesman Braden Reddall said in an email. Other assets in Canada won’t be affected.

Freezing weather knocks out millions of barrels of Permian, Bakken oil production

January 22, 2024

World Oil (Bloomberg) – The wintry weather that blanketed parts of Texas in snow and hammered North Dakota with extreme cold has knocked out millions of barrels of U.S. oil production, and the industry is expected to need weeks to restore output to normal levels. Production across the U.S. was curtailed by about 10 MMbbl this week, according to market

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