Cenovus Energy has raised its takeover offer for MEG Energy to C$7.6 billion, sweetening terms ahead of a delayed shareholder vote. The deal would expand Cenovus’s footprint across Alberta’s Christina Lake oil sands, where MEG produces about 100,000 bpd. SourceContinue Reading
ExxonMobil has signed new agreements with Iraq’s Basra Oil Co. and SOMO to explore and develop the Majnoon oil field, marking its first upstream re-entry into Iraq since exiting West Qurna-1 in early 2024. SourceContinue Reading
U.S. crude oil output hit a record 13.6 million bpd in July, prompting the U.S. Energy Information Administration to revise its 2025-26 outlook. The EIA now forecasts production will average 13.5 million bpd in both 2025 and 2026, modestly higher than its September forecast. SourceContinue Reading
Oil prices steadied after OPEC+ announced a modest 137,000-bpd increase for November, signaling continued supply restraint from Saudi Arabia and its allies. SourceContinue Reading
The Texas Railroad Commission has established the State Task Force on Petroleum Theft (STOPTHEFT) to address rising oilfield crime. The 13-member group includes leaders from ConocoPhillips, Diamondback Energy, and the Texas Oil & Gas Association, alongside state and federal law enforcement. SourceContinue Reading
Chevron Corp. has appointed TotalEnergies exec Kevin McLachlan as its new VP of Exploration, effective November 1, succeeding Liz Schwarze, who will retire in February 2026 after 36 years with the company. SourceContinue Reading
Chevron has appointed Kevin McLachlan as Vice President of Exploration, effective Nov. 1, succeeding Liz Schwarze, who will retire after 36 years with the company. SourceContinue Reading
ReconAfrica is drilling ahead into the Otavi carbonate reservoir at its Kavango West 1X exploration well in Namibia. The company expects to reach total depth in November, followed by a full evaluation of the reservoir section. SourceContinue Reading
Allseas has awarded Able Group contracts to dismantle, reuse, and recycle two of TAQA UK’s most significant North Sea platforms — Cormorant Alpha and Tern — marking one of the largest decommissioning projects ever undertaken in the region. SourceContinue Reading
Zephyr Energy plc announced the results of an updated Competent Person’s Report (CPR) for its Paradox basin assets in Utah, revealing a major upgrade in reserves and resource estimates for the company’s flagship Paradox project. SourceContinue Reading
