Lonquist & Co., LLC

The fourth floating production, storage, and offloading (FPSO), the ONE Guyana, arrived in Guyana's Stabroek block as ExxonMobil prepares to begin production in the Yellowtail field. The vessel is working alongside Liza Destiny, Liza Unity, and Prosperity to help boost the country's total oil production capacity to 940,000 barrels per day. Built by SBM Offshore and capable of processing 250,000 B/D of oil and 450 million cubic feet per day of natural gas, the vessel significantly expands ExxonMobil’s footprint in the region, where it currently produces 650,000 B/D. ExxonMobil anticipates Guyana’s production to exceed 1.3 million B/D by 2030, with a potential ceiling of 1.7 million B/D. Since first oil was announced in 2019, Guyana has become the third-largest oil producer per capita, benefitting from Exxon’s low-cost, high-efficiency operations, which boast breakeven costs under $30/bbl and a smaller emissions footprint than most global oil assets. Read more here: https://lnkd.in/gMsadq3c #oil #petroleum #oilandgas #offshore #naturalgas #fpso #exxonmobil

Italian energy group Eni is set to invest $26.24 billion in energy projects across Algeria, Libya, and Egypt over the next four years. This comes in response to a surge in internal energy demand within these North African countries, which is growing at approximately 8% annually. External investment is seen as a key driver to meet this rising demand. These investments are part of Italy’s Mattei Plan, which aims to position the country as a central energy hub, particularly as Europe continues to reduce its reliance on Russian gas. Strengthening ties with African nations is expected to play a crucial role in advancing this strategy. In a related development, Eni and TotalEnergies recently signed an agreement with Cyprus and Egypt to transport gas from the Cyprus-controlled Cronos field to Egypt’s Zohr facility for processing. The gas will then be sent to the Damietta liquefied natural gas (LNG) plant for export to Europe. Read more here: https://lnkd.in/eRmEvkNk Photo: Eni #oil #petroleum #oilandgas #gas #italy #eni #totalenergies #africa #matteiplan #zohr #energy

Sinopec has announced its discovery of more than 1 billion barrels of proven shale reserves in East China's Shengli field. The estimated shale oil resources in that field reached 78.4 billion barrels which is the same amount of conventional oil and gas recovered in China over the past 60 years. Liu Huimin, a leader at Sinopec, stated that "repeated experiments led to the company’s theory of shale oil enrichment in continental fault lake basins, which reshaped the traditional common understanding that shale oil can only be enriched and mobilized when its maturity is higher than 0.9%.". The theory has the potential to triple shale oil resources in the Jiyang shale, a prominent composition of the Shengli shale field. Sinopec also reported advancements in reserve-fracture-pressure theories, the development of full-cycle 3D technologies, and the creation of an integrated geological engineering platform. These innovations have expanded shale oil development from three to seven layers, improved extraction efficiency, and maximized resource recovery. Read more here: https://lnkd.in/g6nZxV6c #oil #oilandgas #oilexploration #energy #petroleum #sinopec #shengli #china #shale #oildiscovery

Shell has finalized its investment decision for Gato do Mato, a deepwater project in the Santos Basin offshore Brazil. Operations are expected to begin in 2029, with an estimated recoverable resource volume of 370 million barrels. "The development plan includes the installation of a floating production, storage, and offloading (FPSO) vessel and is designed to produce up to 120,000 BOPD." The initial development phase will focus on reinjecting natural gas to maintain reservoir pressure, with future plans to export gas to onshore facilities. Gato do Mato was discovered in 2010, followed by a three-well appraisal program in 2019 and a fourth well in 2020, which confirmed the presence of light hydrocarbons. "The project is a pre-salt gas-condensate discovery that covers two contiguous blocks: BM-S-54, a concession contract entered in 2005, and Sul de Gato do Mato, a production sharing agreement obtained in 2017." Read more here: https://lnkd.in/ew-7HHPm #shell #oil #gatodomata #petroleum #oilandgas #offshore #naturalgas #brazil

Guyana's oil production and exports are thriving with an output of 660,000 bpd and expected to hit 1.3 million bpd by 2030. Since ExxonMobil and its partners began offshore drilling in 2019, the country has rapidly ascended to become South America’s fifth-largest oil exporter. Europe has emerged as the leading destination for Guyana’s crude, accounting for 66% of exports in 2024, up from 62% in the previous year. This trend continued into 2025, with Europe taking 75% of Guyana’s oil shipments in January. The proximity and quality of Guyana’s crude have made it a preferred choice for European buyers seeking reliable energy sources. Beyond oil production, Guyana and ExxonMobil are actively expanding natural gas development. Plans are underway for gas-to-shore projects to support key industries such as fertilizer and aluminum production, as well as to enhance power and cooling infrastructure. Additionally, ExxonMobil is increasing gas production, with the Longtail project expected to produce up to 1.5 billion cubic feet per day (bcfd) of natural gas and 290,000 bpd of condensate. Continued investment in both oil and natural gas projects is set to drive long-term economic growth and reinforce the Guyana’s role as a major energy supplier. Read more here: https://lnkd.in/gam43hXu #guyana #exxonmobil #oil #oilandgas #naturalgas #petroleum #offshore #crudeoil #gas #condensate

At CERAWeek 2025, energy leaders signaled a shift away from the energy transition and toward increased oil production. Amin Nasser, CEO of Saudi Aramco, said that oil demand is projected to grow by 1.3 to 1.5 million barrels per day this year and will continue as developing nations' energy consumption increases. The rise of AI-driven energy demand is expected to accelerate electricity consumption, further reinforcing the need for diversified energy sources. Nasser outlined three core principles for the future of energy: 1. All energy sources must play an expanding role in meeting growing demand in a balanced manner. 2. The model must serve both the needs of developed and developing nations. 3. Strategy must be encompassed real results.  "This does not mean stepping back from our global climate ambitions," Nasser stated. "Reducing greenhouse gas emissions must still be a top priority … but the future of energy is not only about sustainability. Security and affordability must share the stage." Read more here: https://lnkd.in/ehr6Ezus #oilandgas #petroleum #ceraweek #saudiaramco #oil #drill #energy

The oil and gas industry is rapidly evolving, and companies including Repsol and ExxonMobil are at the forefront of using data iteration to enhance well performance. A recent article in the Journal of Petroleum Technology highlights how both companies are leveraging data to refine hydraulic fracturing designs, improve efficiency, and reduce costs. By analyzing legacy data from Marcellus wells, Repsol has significantly improved cluster efficiency and completion designs, leading to better well performance with optimized resource consumption. "According to the paper, shooting perforations on the sides results in a 10% reduction in horsepower-hour consumption, easier pump-rate ramp-up, lower treating pressure, and higher pump rate. This approach also resulted in reduced resource usage and lower emissions." ExxonMobil has adopted iterative learning techniques to successfully drill and complete 4-mile laterals in the Permian Basin, showcasing the power of continuous data-driven improvement. "Because no CTU [coil tubing units] could reach 33,000 ft, ExxonMobil would have to kill the well each time they needed to enter it, he said. In contrast, a HCU [hydraulic completion unit] could conduct fishing operations without requiring the well to be killed first." Read more here: https://lnkd.in/emWduEHB #oilandgaas #repsol #exxonmobil #petroleum #fracturing #hydraulicfracturing #oil #drill

I look forward to a great event by the #SPE #AAPG #SEG.  This should be an exciting week focused on the CCUS Projects, technology, knowledge sharing, and networking!  Visit us (Lonquist & Co., LLC) at Booth#707. We are a full-service subsurface consulting company (geology, reservoir engineering, well design, regulatory support, and project management) and EPC (Yes, we drill wells too!) with a heavy focus on the Underground Injection space; we have participated in 21 of the submitted Class VI permits around the country, numerous Class II AGI projects, multiple MRV plans and multiple permits are in technical review. Stop by and visit if you have a chance! 

The Texas Gulflink deepwater crude oil export terminal has received approval from the U.S. Department of Transportation's Maritime Administration (MARAD). Located 30 miles off Brazoria County along the Texas Gulf Coast, the terminal is designed to accommodate very large crude carriers. "The facility will establish a shoreside support facility at an operational commercial site within Freeport Harbor. The project will also utilize dock space at the Port Freeport Public Docks located in Freeport, Texas." The terminal aims to enhance vessel traffic efficiency in U.S. Gulf ship channels while reducing air emissions associated with lightering operations. Texas GulfLink also plans to incorporate vapor recovery technology, further advancing sustainability efforts. "By expanding production and giving American companies the ability to compete on the world stage, we are advancing American energy security, bringing more money into our country, and driving down costs for consumers." Read more here: https://lnkd.in/ghyqQTP6 Image credit: Texas GulfLink #petroleum #oilandgas #crude #crudeoil #gulfcoast #texas #maritime

Diamondback Energy is acquiring subsidiaries of Double Eagle IV in a deal valued at more than $4 billion. The acquisition expands Diamondback's holdings in the Midland Basin by 40,000 acres, adding an estimated 27,000 BOE/D, with 69% being crude oil. Additionally, 68% of the land remains undeveloped, providing 400 potential new well locations with 11,000-ft laterals. "The Permian Basin continues to consolidate rapidly. We have worked tirelessly over the last 13 years to position Diamondback to have the longest duration of high-quality, low-breakeven inventory; a position we are solidifying with today’s announcement." said Diamondback CEO Travis Stice. The deal, expected to close by April 1, will be financed through a mix of cash, credit facility borrowings, and potential debt offerings. To mitigate its impact on the company’s balance sheet, Diamondback plans to sell at least $1.5 billion in noncore assets, aiming to reduce net debt to $10 billion. This acquisition follows Diamondback’s history of major deals, including its $26-billion purchase of Endeavor Energy Resources last year and other acquisitions in the Permian Basin over the past few years. Read more here: https://lnkd.in/gacnpUB4 #diamondback #midland #oilandgas #doubleeagle #petroleum #permian #permianbasin