BP CEO Murray Auchincloss said the company’s strategic shift will focus on natural gas and “the time has come for the Haynesville.”

Early evaluations from the joint venture between Continental Resources, Türkiye Petroleum and TransAtlantic Petroleum suggest ultimate recoverable reserves could reach 6 Bbbl of oil and 32 Tcf to 65 Tcf of gas.

Baker Hughes and Linde executives spoke about lower carbon resources such as hydrogen and geothermal, which will be part of the energy mix but unlikely to displace natural gas.

U.S. oil production will likely peak within the next five years or so, Oxy’s CEO Vicki Hollub said. But secondary and tertiary recovery methods, such as CO₂ floods, could sustain U.S. output.

ConocoPhillips CEO Ryan Lance and TotalEnergies’ Patrick Pouyanné briefly delved into a Permian Basin versus Senegal debate at CERAWeek by S&P Global.