Archive / Author

Subscribe

Andrew Baker

Andrew joined NGI in 2018 to support coverage of Mexico’s newly liberalized oil and gas sector, and his role has since expanded to include the rest of North America. Before joining NGI, Andrew covered Latin America’s hydrocarbon and electric power industries from 2014 to 2018 for Business News Americas in Santiago, Chile. He speaks fluent Spanish, and holds a B.A. in journalism and mass communications from the University of Minnesota.

Arc Resources Expecting ‘Very Healthy’ Natural Gas Prices at AECO Through Winter

Arc Resources Expecting ‘Very Healthy’ Natural Gas Prices at AECO Through Winter

Montney Shale pure-play Arc Resources Ltd. is forecasting strengthened pricing at the NOVA/AECO hub in western Canada relative to the U.S. Henry Hub over the coming months, according to management. In a conference call to discuss third-quarter earnings, CFO Kris Bibby said “we are excited for the immediate near term in the winter. We would…

November 7, 2022
Mexico’s CFE Eyeing 2024 In-Service for Yucatán Natural Gas Power Plants

Mexico’s CFE Eyeing 2024 In-Service for Yucatán Natural Gas Power Plants

Mexico’s state power company Comisión Federal de Electricidad (CFE) is aiming to bring online 1.5 GW of natural gas-fired power generation capacity on the Yucatán Peninsula by summer 2024, CEO Manuel Bartlett said Monday. The combined-cycle plants in Mérida and Valladolid would have capacities of 499 MW and 1,020 MW, respectively, and run primarily on…

January 31, 2023
EnCap, Double Eagle Tout $2.3B in Commitments to Accelerate Permian Drilling Program

EnCap, Double Eagle Tout $2.3B in Commitments to Accelerate Permian Drilling Program

A private equity (PE)-backed oil and gas partnership formed last year has secured about $600 million in additional capital commitments to acquire and develop drilling opportunities in the Permian Basin. EnCap Investments LP, Double Eagle Energy Holdings IV and Tumbleweed Royalty IV LLC on Sunday announced a “successful equity commitment upsize” to $2.3 billion, and…

January 30, 2023
‘The Rich Get Richer’ as Large Caps Dominate Diminished M&A Market in U.S. Oil and Gas

‘The Rich Get Richer’ as Large Caps Dominate Diminished M&A Market in U.S. Oil and Gas

Mergers and acquisitions (M&A) within the U.S. upstream fell to their lowest annual volume in nearly two decades last year, according to new research by Enverus Intelligence Research (EIR). Exploration and production (E&P) firms recorded 160 transactions valued at $58 billion total, the Enverus subsidiary found. This is the lowest number of deals since 2005.…

January 30, 2023
Natural Gas Price Volatility ‘Simply Noise’ for Heavily Hedged CNX, Says CEO

Natural Gas Price Volatility ‘Simply Noise’ for Heavily Hedged CNX, Says CEO

Appalachian Basin pure-play CNX Resources Corp. is aiming to lock in elevated natural gas prices and protect itself from market swings through an aggressive hedging strategy, CEO Nick Deluliis said Thursday. Deluliis hosted a conference call to discuss fourth-quarter and full-year 2022 results for Canonsburg, PA-based CNX.  He said “from a macro perspective, we expect…

January 27, 2023
U.S. Oil, Natural Gas M&A Slows in 2022 as Megadeals Dominate

U.S. Oil, Natural Gas M&A Slows in 2022 as Megadeals Dominate

Mergers and acquisitions (M&A) within the U.S. upstream fell to their lowest annual volume in nearly two decades last year, according to new research by Enverus Intelligence Research (EIR). Exploration and production (E&P) firms recorded 160 transactions valued at $58 billion total, the Enverus subsidiary found. This is the lowest number of deals since 2005.…

January 26, 2023
Oilfield Services Firms Say Latin America Oil, Natural Gas Activity on the Rise 

Oilfield Services Firms Say Latin America Oil, Natural Gas Activity on the Rise 

Oil and natural gas operators are ramping up activity in Latin America, according to the three biggest names in oilfield services.  The management teams of SLB Ltd., Baker Hughes Co. and Halliburton Co. each reported upticks in revenue and activity in the region for the fourth quarter of 2022 and the year as a whole.…

January 24, 2023
Hess Eyeing $3.7B E&P Capital Spend in 2023, Focused on Bakken, Guyana

Hess Eyeing $3.7B E&P Capital Spend in 2023, Focused on Bakken, Guyana

Hess Corp. has set a $3.7 billion exploration and production budget for 2023, with more than 80% of funds allocated to its flagship Bakken Shale and Guyana operations. This would be up from the $2.7 billion budget for full-year 2022 that the firm forecasted in October. New York City-based Hess is targeting average net production…

January 24, 2023
Mexico Natural Gas Production Grows 6% in 2022, Driven by Quesqui, Ixachi Fields

Mexico Natural Gas Production Grows 6% in 2022, Driven by Quesqui, Ixachi Fields

Mexico’s natural gas production averaged 4.09 Bcf/d in 2022, up from 3.85 Bcf/d in 2021, according to the latest figures from upstream regulator Comisión Nacional de Hidrocarburos (CNH). State oil company Petróleos Mexicanos (Pemex) supplied 3.85 Bcf/d of the 2022 total, up from 3.65 Bcf/d in 2021. Private sector production averaged 234.7 MMcf/d in 2022,…

January 23, 2023
Vitol Expanding U.S. Upstream Presence with Permian Delaware Acquisition

Vitol Expanding U.S. Upstream Presence with Permian Delaware Acquisition

Swiss commodities giant Vitol Inc. is adding to its Lower 48 upstream portfolio with the acquisition of privately held Delaware Basin Resources LLC (DBR). Vitol affiliate VTX Energy Partners LLC has entered a deal to acquire Midland, TX-based DBR and associated surface and water businesses for an undisclosed sum, management said Thursday. VTX is the…

January 23, 2023
Rockies, Midcontinent Producers Slash Natural Gas Price Forecasts, Citing ‘Too Much Supply’

Rockies, Midcontinent Producers Slash Natural Gas Price Forecasts, Citing ‘Too Much Supply’

Oil and gas executives in the Rockies and Midcontinent have downwardly revised their expectations for Henry Hub natural gas prices over the near term, according to a new survey by the Federal Reserve Bank of Kansas City. The Kansas City Fed’s quarterly Tenth District Energy Survey gauges current and expected oil and gas activity in…

January 23, 2023
‹ Previous 1 2 3 111