US upstream news

US sanctions Russian oil majors over Ukraine, reports Reuters.

The US Energy Information Administration (EIA) forecasts in its October Short-Term Energy Outlook (STEO) that US crude oil production will average 13.5 million bpd in both 2025 and 2026, both slightly higher than the agency’s September forecast.

Pantheon Resources plc gives a Dubhe-1 operational update.

Kurita and Cyclopure partner to deliver PFAS removal from water a completely regenerable material.

Pantheon Resources has announced it has spudded the Dubhe-1 appraisal well at the company’s Ahpun oil field on the North Slope of Alaska.

Chevron Corporation has announced that it has completed its acquisition of Hess Corporation following the satisfaction of all necessary closing conditions, including a favourable arbitration outcome regarding Hess’ offshore Guyana asset.

ExxonMobil, the Company’s carbon capture and sequestration (CCS) partner for this project, will be transporting and permanently storing the CO2.

The agreement is to acquire a 60% working interest (paying 80%) in the Sark well, planned to be drilled early 3Q25, located in Central Oklahoma, US.

Innovex will retain intellectual property rights for the recently installed subsea tree orientation systems (VXTe) with the intent of licensing this technology to subsea tree manufacturers.

With Neotork, operators and directional drilling companies can achieve significant cost savings and improve operations, especially in increasingly challenging environments.