US upstream news

Crescent Energy Company has announced the closing of the sale of non-operated Permian Basin assets to a private buyer for US$83 million in cash, subject to customary post-closing purchase price adjustments. The assets are located in Reeves County, Texas and had projected full-year 2025 production of approximately 3 thousand boe/d (~35% oil).

TotalEnergies has announced the start of production from the deepwater Ballymore field offshore US, in which the Company has a 40% interest alongside operator Chevron (60%).

The US Energy Information Administration (EIA) expects recent developments in global trade policy and oil production to contribute to lower global demand growth for petroleum products through 2026.

US crude oil exports in 2024 surpassed the previous record set in 2023, exceeding an annual average of 4.1 million bpd. Despite this new record, crude oil export year-over-year growth slowed to 1% in 2024, compared with 14% in 2023 and 21% in 2022.

Matador Resources Company has announced the sale of its remaining Eagle Ford shale position in South Texas.

INEOS Energy has announced the completion of the acquisition of the US Gulf business held by CNOOC Energy Holdings USA. Inc., a US subsidiary of CNOOC International Limited (CNOOC).

Christian Keon and Indu Moola, Nanoprecise Sci Corp., Canada, describe fuelling energy operations with AI-driven maintenance.

EIA forecasts that Alaskan crude oil production will grow in 2026, for the first time since 2017.

Centrium Energy Solutions, an oil and gas chemical supplier, has announced it has developed a domestic distribution model that solves critical challenges in sourcing, logistics and performance.

The decline in drilling rigs coincides with record-low natural gas prices for most of 2024 and the wider adoption of advanced drilling and completion technologies.