OGJ Daily Newsletter - Feb 28th, 2024
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February 28, 2024
The acquisition and integration of Earthstone is paying dividends faster than expected.
Civitas Resources Inc., Denver, has decreased its 2024 estimated capital expenditures by 7% while maintaining its previously provided 2024 production guidance of 325,000−345,000 boe/d (71-74% liquids).

The Model VF-150FS feeder was designed to accurately meter materials such as Guar, Polyacrylamide and FR powders in mobile fracking systems.  Includes foot mounted design with hydraulic or inverter duty motor supported directly from the feeder trough for greater installation versatility and easy disassembly for cleaning.

Denison Gas Ltd. has started a five-well drilling program to support production and reserves growth across its Denison North and South Project areas.
Gulfport Energy Corp. plans to deliver 2024 production in line with 2023 levels with a focus on more liquids-rich development in both its Utica shale and South Central Oklahoma Oil Province (SCOOP) positions.
US crude oil inventories for the week ended Feb. 23, excluding the Strategic Petroleum Reserve, increased by 4.2 million bbl from the previous week, according to data from the US Energy Information Administration.

The American Petroleum Institute (API) published the 11th edition of API Standard 5CT, Casing and Tubing, a foundational specification for the manufacture of steel casing and tubing used in oil and gas drilling and production operations. This edition marks a significant advancement in safety, environmental protection and operational integrity within the petroleum industry.

California Resources Corp. (CRC) is currently planning a 2024 capital program of $300-340 million but said actual spending related to oil and gas development will depend on various factors, particularly on its ability to obtain new well permits in second-half 2024.
Woodside Energy has signed its first long-term LNG supply agreement into Korea, the world’s third largest LNG market.

The book offers a clear and accessible overview, beginning with a historical context and basic energy principles. It then delves into major concepts and applications of solar, wind, hydroelectric, geothermal, biomass, and hydrogen on both domestically and globally. The content spans diverse scales, from utility-sized hydroelectric plants to residential and commercial rooftop solar panels.

ConocoPhillips has been granted consent to start up Eldfisk Nord in the Norwegian North Sea.