US upstream news

Onshore crude oil production in the US Lower 48 states (L48) has more than tripled since January 2010, driven by tight oil production growth in the Permian region.

OEG secures framework agreement to supply logistics equipment to oil major in North America.

The US Department of the Interior has identified significant undiscovered, technically recoverable oil and gas resources in the Mowry Composite Total Petroleum System.

Whiptail Midstream says its oil and gas gathering systems in the San Juan Basin played a role in supporting the growth of its producer customers in the Gallup oil play, and MPLX’s ownership will allow for continued investment and growth of the system as activity continues.

The increasing number of simultaneous completions reflects significant technological advances in hydraulic fracturing operations, particularly in equipment capabilities and operational strategies.

Annular pressure build-up (APB) mitigation for wells at Whale development.

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.