Tag Archive for: oilandgas

The surge in AI use and the data centers are set to boost power demand from data centers by 500% by 2040, UAE minister Al Jaber said.

Oil, gas seen supplying most power growth from data centers

Hydrocarbons are expected to provide roughly three-quarters of the projected rise in electricity demand from data centers as AI use expands and more facilities are built, according to comments from ADNOC CEO Sultan Al Jaber at Abu Dhabi Sustainability Week. He cited an estimate that power demand from data centers could increase by about 500% by 2040, and said oil and natural gas are likely to remain central to meeting that growth for decades.

Al Jaber also pointed to significantly higher infrastructure spending needs, saying the scale-up of AI and data center development is lifting global energy investment requirements to around $4 trillion per year, including funding for grids, data centers, and multiple energy sources. For additional context on how AI-related load is influencing the power market, see U.S Natural Gas Power Is Booming Thanks to AI and Texas approves $13.8B plan for Permian Basin grid.

Source: OilPrice.com
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DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
The US Geological Survey discovered new oil and gas reserves in the Permian Basin — enough to supply the US for 10 months.

USGS discovers new oil and gas reserves in the Permian Basin

The U.S. Geological Survey (USGS) says the Permian Basin may hold sizable additional oil and natural gas resources in the deeper Woodford and Barnett shale formations beneath West Texas and New Mexico. In a new assessment released Wednesday, the agency estimated about 1.6 billion barrels of technically recoverable oil and 28.3 trillion cubic feet of natural gas—volumes it said equate to roughly 10 weeks of U.S. oil use and about 10 months of U.S. gas consumption at current rates.

For producers, the assessment highlights why some Houston-based operators are increasingly looking beyond established drilling “landing zones” as they plan for longer-term supply. Researchers at the University of Texas Bureau of Economic Geology noted the Woodford and Barnett targets are deeper and hotter than many conventional Permian plays, which can raise costs and increase associated gas volumes. The Barnett also contains more clay, creating additional drilling hazards, and companies still need to pinpoint the most productive “sweet spots” before development can scale. For a practical overview of exploration steps mineral owners may hear about, see How to Find Oil on Your Land and Ranger’s Oil & Gas Royalties guide.

Source: Houston Chronicle
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Ranger Land & Minerals curates weekly insights from across the oil and gas industry to keep our readers informed. To receive news like this directly in your inbox, join our free newsletter. If you’d like to learn more about mineral rights and oil royalty opportunities, contact us to speak with a representative.
DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
BLM leased 31 parcels totaling 20,399 acres in NM and OK for $326,811,240 in total receipts during a quarterly oil and gas lease sale.

BLM NM-OK lease sale raises nearly $327M in receipts

The U.S. Bureau of Land Management (BLM) reported that its latest quarterly oil and gas lease sale resulted in 31 parcels being leased across New Mexico and Oklahoma, covering 20,399 acres and generating $326,811,240 in total receipts. The agency said the proceeds—made up of lease bonus bids and rentals—are split between the federal government and the states where the parcels are located.

BLM said the sale set a new benchmark for a single-acre bid (more than $218,751) and ranked among the highest on record for total bonus bids (over $316 million). The agency also cited a top bid on an individual parcel of more than $70 million and an average bid exceeding $16,000 per acre. BLM noted the sale was held under the One Big Beautiful Bill Act, which set a minimum 12.5% royalty rate for new federal onshore production, replacing the 16.67% rate established under the Inflation Reduction Act—an update the agency said could improve project economics and support additional leasing activity. Leases are issued for 10 years and can continue as long as production remains in paying quantities; results are posted through BLM’s online leasing systems. For additional context, see Ranger’s overview of federal vs. private oil and gas leasing and how oil and gas royalties work.

Source: Bureau of Land Management
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Ranger Land & Minerals curates weekly insights from across the oil and gas industry to keep our readers informed. To receive news like this directly in your inbox, join our free newsletter. If you’d like to learn more about mineral rights and oil royalty opportunities, contact us to speak with a representative.
DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
Oil rises as geopolitical tensions continue. Brent crude is up 1% to $60.89 a barrel, while WTI rises 1.15% to $57.39 a barrel.

Oil prices rise as U.S.-Venezuela tensions add supply uncertainty

Oil prices moved higher in early trading as markets tracked escalating tensions between the United States and Venezuela and what that could mean for near-term crude supply flows. Brent crude rose about 1% to around $60.89 a barrel, while U.S. West Texas Intermediate gained roughly 1.15% to about $57.39 a barrel.

The latest uptick comes as Washington has stepped up pressure on Venezuelan oil shipments, a dynamic that traders have been watching for potential effects on exports. Recent U.S. actions aimed at sanctioned Venezuelan tankers have raised the possibility of disrupted cargo movements, with roughly 590,000 barrels a day of exports viewed as exposed in a tighter enforcement scenario. For investors, these developments add a geopolitical variable to pricing alongside broader market fundamentals, and can influence the revenue outlook tied to benchmarks that feed into oil and gas royalties over time.

Source: The Wall Street Journal
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Ranger Land & Minerals curates weekly insights from across the oil and gas industry to keep our readers informed. To receive news like this directly in your inbox, join our free newsletter. If you’d like to learn more about mineral rights and oil royalty opportunities, contact us to speak with a representative.
DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
BP names Exxon veteran Meg O’Neill CEO, first woman to lead an oil major as company looks to reinvigorate its fossil-fuels business

BP’s new CEO is an American defender of oil and gas

For years, Meg O’Neill clashed with environmentalists as chief executive of one of Australia’s biggest energy companies. Now she has been tapped to lead BP BP -1.20%decrease; red down pointing triangle and steer the company back to its oil-and-gas roots.

BP named the American former Exxon Mobil XOM -0.96%decrease; red down pointing triangle executive as its new boss in an unexpected management shake-up Wednesday. She is set to take the helm of a storied yet often troubled energy producer that is aiming to reinvigorate its fossil-fuel business after an ill-timed turn toward renewable energy.

O’Neill, who is set to join the London-based company from Australia’s Woodside Energy WDS -2.65%decrease; red down pointing triangle in April, is a dealmaker who is willing to go to bat for the oil-and-gas business. She will be the first woman to lead an oil major.

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Source: The Wall Street Journal

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Discover how AI boosted efficiency and accuracy in oil and gas project management and helped a firm streamline engineering processes.

How AI drove data optimization for oil and gas capital projects

Discover how AI boosted efficiency and accuracy in oil and gas project management and helped a firm streamline engineering processes.

Does AI have the power to refine oil and gas efficiency?

Addressing inefficiency reveals opportunities to simplify and enhance engineering processes.

As part of its digital transformation initiative, a client in the oil and gas industry aimed to enhance clarity and efficiency in its engineering processes. It engaged its internal capital projects design team to develop clear engineering requirement statements and establish relationships among them, allowing relevant requirements to be easily identified for design, procurement and construction. However, traditional methods were labor-intensive and prone to errors. To streamline the process, improve predictability and enhance the accuracy of the engineering requirements catalog, the client contacted Ernst & Young LLP to explore potential solutions.

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Source: EY

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Oil prices rebounded in early Asian trade after OPEC+ chose to keep output steady through the first quarter of 2026.

Oil prices rise as OPEC+ holds firm on output through Q1 2026

Oil prices rebounded in early Asian trade on Monday following the latest OPEC+ meeting, as traders responded to the producer group’s decision to hold output steady through the first quarter of 2026.

At the time of writing, West Texas Intermediate crude stood at $59.32, up 1.32%, while Brent crude had climbed to $63.16, up 1.25%

The bounce reflects relief over the group’s cautious stance, with OPEC+ reaffirming its plan to maintain current production levels rather than raise output further. The move had been expected and is seen as an attempt to guard against a supply glut.

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Source: yahoo!finance

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ExxonMobil will buy a 40% stake in the new Bahia NGL pipeline from Enterprise Products Partners to boost Permian gas takeaway capacity.

Exxon to buy stake in Enterprise’s new Permian NGL pipeline

Oil and gas supermajor ExxonMobil will buy a 40% stake in the new Bahia natural gas liquids (NGL) pipeline from Enterprise Products Partners as producers and pipeline operators expand gas takeaway capacity in the Permian basin.

Enterprise Products Partners on Thursday said it had entered into an agreement with ExxonMobil, which will acquire a 40% undivided joint interest in Enterprise’s Bahia NGL pipeline that is currently being commissioned.

The closing of the transaction is subject to regulatory approvals and is expected by early 2026, Enterprise said.

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Source: Oil Price

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The IEA predicts an increase in oil and gas consumption through 2050, with the US set to remain the world’s largest producer.

IEA predicts increase in oil and gas consumption by 2050

The International Energy Agency’s (IEA) World Energy Outlook predicts an increase in oil and gas consumption through 2050, with the US set to remain the world’s largest producer.

The IEA projected that oil demand could reach around 113 million barrels per day (mbbl/d) by mid-century, an increase of roughly 13% from 2024 consumption.

The agency also predicted that global liquefied natural gas (LNG) capacity could expand to roughly 1.02 trillion cubic metres.

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Source: yahoo!finance

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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.

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 United States rose this week, according to new data that Baker Hughes published on Friday. Let’s talk more about oil and gas rig count.

The total rig count in the US rose to 548 this week, according to Baker Hughes, down 37 from this same time last year.

The number of active oil rigs stayed the same in the reporting period, according to the data, at 414. Year over year, this represents a 65-rig decline. The number of gas rigs rose by 3 to 128, which is 26 more than this time last year. The miscellaneous rig count fell by 1 to 6.

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Source: Oil Price

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