Positive Industry News and Events
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Permian Resources Announces Strong First Quarter 2025 Results, Revised 2025 Guidance and Strategic Bolt-On Acquisition of Core Northern Delaware Basin Assets
MIDLAND, Texas – Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced its first quarter 2025 financial and operational results, revised full year 2025 guidance and a strategic Northern Delaware Basin bolt-on acquisition. Recent Financial and Operational Highlights Reported crude oil and total average production of 175.0 MBbls/d and 373.2 MBoe/d Announced… More
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APPROX $135 Million: Valaris Announces Contract Award for Drillship VALARIS DS-15
HAMILTON, Bermuda–(BUSINESS WIRE)– Valaris Limited (NYSE: VAL) (“Valaris” or the “Company”) announced today that it has been awarded a five-well contract offshore West Africa for drillship VALARIS DS-15. The contract is expected to commence in the third quarter 2026. The total contract value, based on an estimated duration of 250 days, is approximately $135 million,… More
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SLB OneSubsea and Subsea7 Awarded EPCI Contract for bp’s Ginger Project
New way of working helps unlock final investment decision (FID) for project offshore Trinidad and Tobago HOUSTON, May 05, 2025 — SLB (NYSE: SLB) today announced the award of a substantial engineering, procurement, construction and installation (EPCI) contract by bp to its OneSubsea™ joint venture and Subsea7 for the Ginger project offshore Trinidad and Tobago…. More
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Shell Eyes BP in Potential Mega-Merger
The global energy sector is abuzz with speculation following reports suggesting that Shell is evaluating a potential takeover of BP. While no formal move has been made, Shell is said to be working with advisers to assess the feasibility of such a deal, awaiting further declines in BP’s stock and oil prices before deciding whether… More
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Chevron starts oil production from Ballymore Project in Gulf of America
Houston, Texas, April 21, 2025 — Chevron Corporation (NYSE: CVX) announced today that it started oil and natural gas production from the Ballymore subsea tieback in the deepwater Gulf of America. Ballymore, the latest in a series of Chevron projects to start up in the past year, represents another step towards the company’s goal to… More
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U.S. Energy Development Corporation Expands Permian Footprint Acquiring $390 Million Asset and Announces Upsized Credit Facility
~20,000 net acres Significant multi-bench drilling inventory Upsize of USEDC’s syndicated revolving credit facility led by Citibank, N.A. from $165 million to $300 million Fort Worth, TX – U.S. Energy Development Corporation (USEDC), a Fort Worth-based exploration and production company focused on developing oil and gas projects for itself and its partners, has acquired ~20,000… More
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Double Eagle Energy Holdings V & Tumbleweed Royalty V With $2.5 Billion of Equity Committed
Double Eagle Energy and Tumbleweed Royalty Announce the Formations of Double Eagle Energy Holdings V & Tumbleweed Royalty V With $2.5 Billion of Equity Committed FORT WORTH, Texas & HOUSTON–(BUSINESS WIRE)–EnCap Investments L.P. (“EnCap”) and the team behind the Double Eagle family of companies (“Double Eagle”) announced today that they have expanded their strategic partnership… More
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INEOS Energy completes the acquisition of oil and gas assets in US Gulf from CNOOC
The completion of the deal marks the third major investment by INEOS Energy in the USA, in the past three years and increases capital spend on energy assets by INEOS in the USA to above $3bn. The deal increases INEOS Energy’s global production to over 90 thousand barrels of oil equivalent per day. Brian Gilvary… More
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Shell Greenlights 370-Million-Barrel Gato do Mato Pre-Salt Project in Brazil
English: Shell Brasil has made the Final Investment Decision (FID) on the Gato do Mato deep-water project in Brazil’s Santos Basin. The project, located offshore Rio de Janeiro state in the pre-salt area, is expected to significantly boost production with a floating production storage and offloading (FPSO) vessel capable of handling up to 120,000 barrels… More
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