Ryan Duman News Today

The oil and gas industry went on a $250 billion buying spree in 2023, taking advantage of companies high stock prices to secure lower-cost reserves and prepare for the next upheaval in an industry...

The oil and gas industry went on a $250 billion buying spree in 2023, taking advantage of companies' high stock prices to secure lower-cost reserves and prepare for the next upheaval in an industry likely to undergo more consolidation. A surge in oil demand as world economies shook off the pandemic downturn has stoked acquirers' enthusiasm. Exxon Mobil, Chevron Corp and Occidental Petroleum made acquisitions worth a total of $135 billion in 2023.

Operators are squeezing crude out of new wells more efficiently because of innovations in everything from electric-pump technology to new strategies for deploying workers while fracking wells to minimize downtime.

Operators are squeezing crude out of new wells more efficiently because of innovations in everything from electric-pump technology to new strategies for deploying workers while fracking wells to minimize downtime.

The latest oil and gas news, dedicated to all things oil and gas: people, technologies, transactions, trends, and macro-economic analysis that impact commodity prices.

(Bloomberg) -- OPEC’s one-time nemesis — US shale — is rearing its head just months after the sector was all but written off as a threat to the cartel’s sway over worldwide oil markets.Most Read from BloombergNetanyahu, Under Pressure Over Hostage Deaths, Vows to Press On‘Underwater’ Car Loans Signal US Consumers Slammed by High RatesUS Navy Shoots Down 14-Drone Wave as Shippers Avoid Red SeaMike Johnson May Be the Next House Speaker to Lose His JobWall ...

E&P Permian Resources will shift to smaller-scale deals to add value as opportunities to consolidate in the Midland and Delaware basins shrink.

E&Ps large and small are scouring the Permian Basin to buy up top-quality drilling locations. But they’ll have to pay a hefty premium to get longer in America’s hottest oil play, according to WoodMac research.

Despite concerns about declining productivity, the Permian shale basin still has substantial oil reserves for output growth in the coming years.

Digitization, electrification and refined chemistry shape the future of hydraulic fracturing.