WTI Crude--
Brent Crude--
Natural Gas--
ND Rig Count--
WTI Crude--
Brent Crude--
Natural Gas--
ND Rig Count--
BAKKEN WIRE
Global Oil Majors Report Q1 Production, Profits; Eni Confirms Giant Gas Find - Bakken Wire
Pipeline & Infrastructure

Global Oil Majors Report Q1 Production, Profits; Eni Confirms Giant Gas Find

ExxonMobil leads U.S. majors in Q1 2026 output, while overseas developments highlight global energy landscape.

Bakken Wire Staff·🔆Midday Wire·

ExxonMobil produced the most oil and gas among U.S. majors in the first quarter of 2026, according to a Rigzone report published Thursday. The report compared the quarterly production of ExxonMobil, Chevron, and ConocoPhillips. For Bakken operators, the performance of these integrated majors can signal broader market trends and capital allocation strategies that influence the basin's competitive environment.

In other earnings news, Norway's Aker BP posted a higher profit, Rigzone reported separately on Thursday. The company's increased profitability was driven by higher liquids prices, which offset a decrease in its sales volumes for both liquids and gas. This dynamic of price strength balancing production volumes is a key focus for North Dakota producers, who manage similar economic pressures in the Williston Basin.

Internationally, Italian energy giant Eni confirmed the size of a "giant" gas discovery offshore Indonesia, Rigzone reported. The company stated a drill stem test confirmed approximately 5 trillion cubic feet of natural gas and 300 million barrels of condensate in the Geliga-1 discovery. While not a direct Bakken event, major global discoveries can influence long-term supply forecasts and international investment flows, potentially affecting the competitive landscape for capital within the U.S. shale sector.

These developments arrive as the North Dakota oil industry monitors commodity prices and operational efficiency. The ability of majors like ExxonMobil to maintain large-scale production underscores the importance of scale and integrated operations. Meanwhile, the profit resilience shown by firms like Aker BP, even with lower volumes, highlights the critical role of commodity prices in driving Bakken cash flows. The confirmation of a major international resource by Eni serves as a reminder of the global nature of the energy market in which Bakken crude competes.

Source

According to Rigzone reports published May 7, 2026.

exxonmobilconocophillipschevronquarterly productionearningsnatural gas discoveryindonesiaglobal markets

Share this article

PostShareShareEmail

Related Articles

Pipeline & Infrastructure

Canada Moves to Fast-Track Oil Pipeline for Asian Markets

Canadian Prime Minister Mark Carney is invoking new powers to fast-track regulatory approval for a major new oil pipeline, according to a report from Rigzone. The move aims to expand Canada's access to Asian crude markets. While the specific pipeline project was not named in the report, the push for increased export capacity from Canada represents a significant shift in North American energy infrastructure policy. For Bakken operators, the development carries both competitive and logistical considerations. Increased pipeline capacity from Western Canada could influence crude pricing benchmarks across the continent, including the Bakken's own local price at Clearbrook, Minnesota. Greater volumes of Canadian crude reaching global markets can affect the supply-demand balance for similar light sweet crudes produced in the Williston Basin. Historically, pipeline constraints have limited Canadian crude to primarily U.S. Midwest markets, keeping a lid on prices. A new high-capacity outlet to Asia could alter that dynamic, potentially...

☀️Morning Wire·Oct 4
Canadian Prime Minister Fast-Tracks New Oil Pipeline for Asian Markets - Bakken Wire
Pipeline & Infrastructure

Canadian Prime Minister Fast-Tracks New Oil Pipeline for Asian Markets

Prime Minister Mark Carney has invoked new powers to expedite regulatory approval for a new, high-capacity oil pipeline, according to a report from Rigzone. The move aims to expand Canada's access to Asian markets. The development, reported on October 2, signals a renewed push by Canada to move its crude oil to West Coast export terminals. For Bakken operators in North Dakota, new Canadian pipeline capacity can influence regional market dynamics. Increased pipeline takeaway capacity from Western Canada can affect the flow of competing crudes, including Bakken barrels, through existing midcontinent pipeline systems. Changes in these flows can impact local basis differentials—the difference between the price of Bakken crude at the wellhead and the U.S. benchmark price. While the Rigzone report did not specify a pipeline route or capacity, any major new Canadian export conduit could alter crude oil logistics in North America. Bakken crude often moves to market via...

🔆Midday Wire·Oct 3
Pipeline & Infrastructure

Canada Moves to Fast-Track Oil Pipeline for Asian Market Access

Canadian Prime Minister Mark Carney is expediting regulatory approval for a new, high-capacity oil pipeline intended to expand Canada's access to Asian markets, according to a report from Rigzone. The report, published October 2, stated Carney has invoked new powers to fast-track the project. The development highlights ongoing efforts by North American producers to reach lucrative overseas markets beyond domestic and traditional refining hubs. Increased Canadian export capacity to Asia could influence global crude pricing benchmarks and shipping routes. For operators in North Dakota's Bakken formation, new Canadian pipeline capacity represents a shifting competitive landscape. Bakken crude, which primarily moves to market via pipelines, rail, and truck, often competes with Canadian heavy and light crude grades in the U.S. Midwest and Gulf Coast refining markets. Enhanced Canadian access to Asian buyers could, over time, alter flow patterns and competition for pipeline space within the continent. However, the specific impact on...

🌅Afternoon Wire·Oct 2