Oil and gas rig count ticks up in the US as production hits new high
The total number of active drilling rigs for oil and gas in the US rose this week, Baker Hughes reported Friday.
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The total number of active drilling rigs for oil and gas in the US rose this week, Baker Hughes reported Friday.
British oil giant BP on Tuesday reported third-quarter net profit of $2.21 billion, beating analyst expectations.
ExxonMobil acquired 80,000+ net acres in the Permian Basin from China’s Sinochem, boosting its U.S. oil footprint.
Energy Secretary Chris Wright said the US is prepared to sell more oil and natural gas to China if Beijing cuts back on purchases from Russia.
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ExxonMobil currently produces 1.5M bpd from its Permian Basin holdings, with plans to increase that to 2.3 million barrels per day by 2030.
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China’s strong oil buying supports global prices, stabilizes markets, and strengthens energy security amid U.S. and OPEC+ changes.
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