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Latest news about Oil and gas Industries-25.04.25
On April 23, 2025 ExxonMobil signed an agreement with Calpine Corporation, the largest U.S. producer of electricity from natural gas, to transport and store up to 2 million metric tons of CO₂ annually from Calpine’s Baytown Energy Center near Houston. This initiative, part of Calpine’s Baytown Carbon Capture and Storage (CCS) Project, aims to capture emissions from the facility, providing low-carbon electricity to Texas customers and steam to nearby industries. The deal makes Calpine ExxonMobil’s sixth CCS customer, bringing its total contracted CO₂ to around 16 million metric tons annually. The CO₂ will be transported via ExxonMobil’s Gulf Coast pipeline system, the world’s largest, which supports both enhanced oil recovery and permanent sequestration.
Calpine’s Baytown CCS Project is expected to generate 500 megawatts of low-carbon electricity—powering over 500,000 homes—along with industrial steam. The project, currently in development, is anticipated to create significant jobs and underscores Calpine’s commitment to leveraging CCS for reliable, low-carbon power. Both companies emphasized the role of supportive government policies, including DOE advancements and Trump-era energy initiatives, in enabling CCS commercialization. However, the project’s progress depends on regulatory approvals, power sales agreements, and continued policy support. ExxonMobil highlighted growing cross-sector confidence in its CCS system, while Calpine stressed CCS as a cost-effective solution for sustaining natural gas’s role in the grid.
On April 22, 2025 Halliburton Co., the world's largest hydraulic fracturing services provider, saw its shares drop nearly 6% after warning that U.S. tariffs will reduce Q2 earnings by 2-3 cents per share, with 60% of the impact hitting its completions-and-production unit. The company reported Q1 revenue of $5.4 billion—its lowest since 2022—while adjusted earnings of 60 cents per share met analyst estimates. CFO Eric Carre noted tariffs are affecting multiple business lines, including artificial lift services and drilling supplies, though the company is working to mitigate the financial impact.
As a key indicator of oil industry health, Halliburton's struggles reflect broader market challenges, including OPEC's production increases and trade war pressures. CEO Jeff Miller said shale operators are better positioned to handle downturns than in past cycles, though customers are still adjusting drilling plans. The company, which has lost about 25% of its value this year, is the first major U.S. oilfield servicer to quantify tariff impacts, with rivals Baker Hughes and SLB set to report earnings soon. While Liberty Energy Inc. expects stable 2025 U.S. output at current prices, Halliburton seeks clearer tariff policies to assess long-term operational adjustments.
Visit: https://worldoil.com/news/2025/4/22/halliburton-announces-tariff-impact-on-drilling-frac-operations/
On April 22, 2025, BW Energy confirmed a significant oil discovery at the Bourdon prospect in the Dussafu License offshore Gabon through its second sidetrack well, DBM-1 ST2. Initial estimates indicate 56 million barrels of oil in place, with around 25 million barrels recoverable. The well revealed high-quality reservoir conditions and low-viscosity oil (3.5 cp), outperforming other Dussafu fields. Logging data identified 11.2 meters of pay within a 35.2-meter hydrocarbon column in the Gamba formation. The discovery, drilled to 4,731 meters, positions Bourdon as a potential new production cluster, mirroring the MaBoMo development model with at least four wells.
Located 15 kilometers west of FPSO BW Adolo and 7.5 kilometers southeast of MaBoMo, Bourdon will boost BW Energy’s reserves beyond its 2024 estimates. CEO Carl K. Arnet highlighted the find as part of Dussafu’s expanding resource base, supporting long-term production in Gabon. Further prospects in the license remain untapped, offering additional growth potential. The company plans to integrate Bourdon into its development strategy, pending further evaluation.
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