production | GUPC

Petralon to boost Nigerian offshore production by 2,500 bpd

Oil & Gas‚ Oil and Gas Industry | intent | July 9, 2025 | Comment off

African exploration and production company Petralon Energy is on track to boost Nigerian crude production by a further 2,500 barrels per day (bpd), following drilling activities at the Dawes Island field, according to a news release from the African Energy Chamber. The company has recently completed a new well at the field, aligning with plans to maximize output at the field. Operated by Petralon Energy subsidiary Petralon 54 Limited, the field is situated in Petroleum Prospecting License (PPL) 259.

U.S. oil and gas production reached record highs in April, says EIA

Oil & Gas‚ Oil and Gas Industry | intent | July 1, 2025 | Comment off

Total U.S. liquids production eked out a record-high of 20.83 million barrels a day (bpd) in April, up roughly 50,000 barrels from the previous month, according to the U.S. Energy Information Administration’s latest Petroleum Supply Monthly report released on Monday.

Canada’s Oil Sands Production Set for Record High in 2025

Oil & Gas‚ Oil and Gas Industry | intent | June 25, 2025 | Comment off

This year, production is set for a record annual average of 3.5 million bpd, up by 5% compared to the 2024 output, while oil sands volumes are expected to top 3.9 million bpd by 2030, per S&P Global Commodity Insights. The projection for 2030 is 500,000 bpd higher compared to the 2024 production level and is 100,000 bpd – or almost 3% — higher compared to the previous 10-year outlook.

Monumental Energy Restarts Production at Copper Moki Well in NZ

Oil & Gas‚ Oil and Gas Industry | intent | June 24, 2025 | Comment off

“The Copper Moki wells have demonstrated exceptional reservoir performance, with cumulative production approaching one million barrels of oil to date”, said Monumental vice president for corporate development Max Sali. “The successful recompletion of CM-2 – including the perforation of three new intervals – is expected to significantly enhance output. We anticipate strong flush volumes and reservoir recharge, further validating the productivity of the Mt. Messenger formation.

Canada’s first large-scale LNG project starts production

Oil & Gas‚ Oil and Gas Industry | intent | June 24, 2025 | Comment off

LNG Canada represents a USD 40 billion-41 billion investment following a final investment decision in October 2018—making it Canada’s largest private-sector investment ever. Construction began in early 2020 and by mid-2024 was over 95% complete.

Oil and Gas Production Surges in Argentina’s Vaca Muerta Shale

Oil & Gas‚ Oil and Gas Industry | intent | June 19, 2025 | Comment off

Argentina’s Vaca Muerta shale play posted significant first-quarter gains in 2025, building on last year’s strong performance, with oil output surging 26% and gas production rising 16% year-on-year, according to Rystad Energy estimates. This growth is shifting Argentina away from its historical dependence on gas imports, pushing the nation closer to energy self-sufficiency.

S&P Global Says USA Crude Oil Production Now Expected to Decline in 2026

Oil & Gas‚ Oil and Gas Industry | intent | May 14, 2025 | Comment off

“Slowing global oil demand amid extreme uncertainty about the future of U.S. trade and a coming supply surplus are expected to hobble U.S. oil production growth later this year and could lead to an annual decline in output in 2026, according to a new analysis by S&P Global Commodity Insights,” the analysis piece – by Jim Burkhard, Vice President and Global Head of Crude Oil Research, Ian Stewart, Associate Director, and the S&P Global Commodity Insights Crude Oil Markets team – stated.

SLB launches Electris™ well completions technology to boost production, recovery

Oil & Gas‚ Oil and Gas Industry | intent | May 7, 2025 | Comment off

Electris completions digitalize control of the entire productive area of the wellbore, providing real-time production intelligence across the reservoir. This enables operators to predict, adapt and act with confidence in response to dynamic production conditions — improving reservoir management over the life of the well and accessing reserves that conventional systems leave behind.

OTC Day 2: Trends and challenges shaping offshore production and recovery

Oil & Gas‚ Oil and Gas Industry | intent | May 7, 2025 | Comment off

Day two of the 2025 Offshore Technology Conference (OTC) took place Tuesday, May 6 in Houston, Texas. This year’s conference centers on the theme “Waves of innovation: Offshore energy excellence,” and much dialogue the second day indeed focused on the latest innovations and technology applications in the offshore sector. Another key theme that emerged throughout the day — how operators are pivoting strategies for offshore production in response to challenging times.

Magnolia Q1 Profit Up YoY as Production Grows

Oil & Gas‚ Oil and Gas Industry | intent | May 5, 2025 | Comment off

Magnolia Oil & Gas Corporation has posted a net income of $106.6 million for the first quarter, up 9 percent compared to the corresponding quarter in 2024.

The company said production grew by 14 percent year-over-year to 96.5 thousand barrels of oil equivalent per day, including 39.1 thousand barrels per day of oil, which are quarterly production records for the company.

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