Permian Holds 55,000 Sub-$50/Bbl Drilling Locations, Analysis Finds
The latest Enverus Intelligence Research analysis estimates the Permian basin holds about 55,000 drilling locations that can break even at under $50 per barrel, a 10% year‑over‑year increase. Including all geologically viable spots, the undeveloped inventory approaches 100,000 locations, with new additions concentrated in deeper intervals such as Barnett‑Woodford and Wolfcamp D. Wells in the Midland Basin’s Barnett‑Woodford zone are already achieving breakeven costs in the low‑$40 range, underscoring the basin’s cost advantage. Both major and smaller operators are positioned to tap this low‑cost inventory, bolstering the Permian’s resilience amid price volatility.
Trump Officials Urge U.S. Oil Industry to Increase Production Amid Supply Shock
U.S. Interior Secretary Doug Burgum and Energy Secretary Chris Wright urged major oil producers to raise output as the Iran‑linked closure of the Strait of Hormuz removed an estimated 16 million barrels per day from global supply. The administration framed the...
ABL, PetroSafe Strengthen Egypt Energy Assets with Safety, Engineering Services MoU
ABL Group has entered a memorandum of understanding with Egypt’s PetroSafe to provide technical safety and engineering services for the nation’s energy assets. The MoU spans offshore and onshore facilities, focusing on through‑life performance, subsea infrastructure, and operational safety. ABL...
Assala Achieves First Oil at Grand N’Gongui Field Onshore Gabon
Assala Gabon announced first oil from the Grand N’Gongui (GNG) onshore field in Gabon on April 16, 2026, transitioning the asset from appraisal to production. The field sits in the Gamba Formation with an estimated 350 million barrels of stock‑tank oil in place...
Mexico’s Oil and Gas Sector Needs Certainty to Drive Investment, AMEXHI Says
The Mexican Association of Hydrocarbons Companies (AMEXHI) endorsed the federal government’s gas strategy aimed at bolstering energy sovereignty, while warning that investment will stall without clearer regulatory and security conditions. The group stressed that competitiveness, regulatory certainty, and physical security...
Hormuz Crisis Deepens as Oil Producers, Tanker Owners Dispute Risk
Shipowners and charterers are at odds over who should bear the risk of transiting the Strait of Hormuz, leaving few tanker bookings. Oil producers with cargo in the Persian Gulf demand guarantees of on‑time loading and safe passage, while owners...
Petrobras Board Vote Comes Amid Oil Price Surge, Fuel Policy Pressure in Brazil
Petrobras investors will elect a new 11‑member board on Thursday, with the Brazilian government – a 37% shareholder – nominating eight candidates. Two leading shareholder‑advisory firms have put forward an opposition slate that could limit President Lula’s sway over the...
Namibia Fast-Tracks Oil Law Reform Ahead of First Oil as Offshore Activity Accelerates
Namibia is accelerating a petroleum amendment bill to tighten its regulatory framework as offshore activity in the Orange Basin intensifies. President Netumbo Nandi‑Ndaitwah announced the reform at the Namibia International Energy Conference, emphasizing faster decision‑making and clearer investor rules. The...
EIG Launches Geothermal Investment Fund to Advance U.S. Power Projects
EIG announced the initial closing of its Geothermal Catalyst Partners fund, aimed at providing mid‑stage capital to U.S. geothermal projects. The fund targets the critical financing gap that often stalls projects after early exploration but before full construction. By leveraging...
Bp CEO Meg O’Neill Moves to Simplify Structure, Refocus on Upstream-Downstream Model
bp Plc’s new chief executive Meg O’Neill announced a sweeping reorganization that will collapse the company into two core divisions – upstream (exploration and production) and downstream (refining). The plan folds technology, legal, gas, low‑carbon and human‑resources units into these...
Energy Supply Disruptions From Middle East War to Persist, IEA and IMF Warn
The International Energy Agency, International Monetary Fund and World Bank warned that the ongoing Middle East conflict will keep global oil and gas markets disrupted, even if shipping through the Strait of Hormuz normalizes. The shock is described as substantial,...
Senegal Strengthens Hydrocarbon Framework as Oil, Gas Output Grows
Senegal is strengthening its hydrocarbon framework with new local‑content regulations while oil and gas output accelerates. The Sangomar field exported about 3.8 million barrels of crude in January, marking a milestone for the emerging producer. The Greater Tortue Ahmeyim floating‑LNG project...
Petrobras Confirms Hydrocarbon Discovery in Deepwater Campos Basin
Petrobras confirmed a hydrocarbon discovery in the pre‑salt section of Brazil’s Campos basin after drilling exploratory well 1‑BRSA‑1404DC‑RJS in block C‑M‑477, located about 201 km offshore Rio de Janeiro at roughly 2,984 m water depth. The presence of oil and gas was...
CoreMarine, Jumbo Offshore Win FLNG Installation Contract Offshore Argentina
CoreMarine and Jumbo Offshore have secured a contract from Southern Energy S.A. to transport, install and hook up floating LNG (FLNG) infrastructure in Argentina’s Golfo San Matías. The scope covers soft‑yoke mooring systems, riser installation, subsea construction and final hook‑up of the...
Halliburton Wins Multibillion-Dollar Fracturing Contract with YPF in Vaca Muerta
Halliburton secured a multibillion‑dollar, multi‑year contract with Argentina’s YPF to provide unconventional completions services in the Vaca Muerta shale play. The deal will see Halliburton deploy its ZEUS electric fracturing system and OCTIV digital platform, marking the first overseas use of...
