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Last year was big for Texas oil companies as they jockeyed for access to petroleum-rich plots of the Permian Basin and branched into new territories.
The US oil industry is now in a post-boom era, focusing on smart growth aligned with demand rather than rapid expansion.
Amidst attacks on US energy production and continued global instability, the US oil & natural gas industry exceeded expectations in 2023.
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A surge of supply from non-OPEC nations like US, Brazil, and Guyana has surprised oil markets this year.
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North Dakota Mineral Resource Director, Lynn Helms said 2023 was a good year for the state’s oil and gas industry.
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Oil prices have moved higher following news that producer BP will temporarily halt shipments through the Red Sea after reported attacks on vessels delivering on this route.
