LNG

Vital Energy Inc., the Tulsa, Oklahoma-based exploration and production company, has signed three transactions worth around $1.17 billion to add nearly 53,000 net acres to its assets in the Midland and Delaware areas of the Permian Basin with significant proved oil and natural gas reserves.

ExxonMobil Corp., the leading global oil and gas company and LNG market operator, indicated that first-quarter earnings could fall by up to 25 percent from the previous quarter because of falling prices and other factors.

Permian Basin activity hit an all-time high in March 2022, with more than 900 permits awarded for horizontal drilling for new wells, driven by increasing oil prices and production demand in the basin with abundant associated natural gas.