Business/economics
EY reports an 11% decline in reserve additions and the first sub-100% reserve replacement ratio since 2021, even as crude output climbed.
Superior seeks to expand its international footprint through the acquisition, which is reportedly valued at $1.2 billion.
By acquiring 100% of Ventura’s outstanding shares, SED Energy Holdings would scale its business into a combined $1 billion company backed by a $1.3 billion contract backlog focused on deepwater drilling, shallow-water tender rigs, and seismic acquisition.
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Industry leaders say they believe oil and gas will continue to play a pivotal role in the energy mix in the lengthening energy transition timeline. -
Experts speaking at CERAWeek 2025 lauded industry's shift from focusing on the energy transition to prioritizing oil production.
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The new company, to be called Whitecap, will be the largest Alberta Montney and Duvernay landholder, sporting 370,000 BOE/D in combined production.
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Kuwait Petroleum’s managing director of planning and finance said that more investment will be needed to keep Kuwait’s mature oil fields flowing while production is brought on stream.
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The proposed joint venture aligns with Eni's satellite model strategy to create entities that manage operations and access capital markets separately from the parent company.
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The supermajor is making a major course correction as it plans to slash renewable investment and focus more on oil and gas development.
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Key drivers of the rapid growth projection include Asia’s economic outlook and the rise of artificial intelligence.
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The engineering and construction firms take the first steps toward combining companies.
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The Midland, Texas-based operator said the deal hands it the biggest remaining target in the Midland Basin side of the Permian Basin.
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Equinor will reduce investments in renewables over the next 2 years by 50% to $5 billion and will increase its focus on oil and gas production, expecting more than 10% growth from 2024 to 2027.
