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.
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Articles from Andrew Baker
No Uplift for Bakken Natural Gas Prices as Supply Glut Continues
Natural gas prices in North Dakota continue to languish at nearly 30-year lows amid nationwide oversupply, according to the state’s top oil and gas regulator. Production cuts announced by large operators in the gassy Marcellus and Haynesville shales have so far failed to meaningfully boost prices. “We’re seeing rigs lay down in the natural gas…
CNX Joins Appalachian Peers in Curbing Production to Combat Low Natural Gas Prices
Appalachian Basin producer CNX Resources Corp. said Tuesday it is tapping the brakes on production growth and slashing output guidance for 2024 in response to the current natural gas price slump. The Pittsburgh-based firm “will delay completions activities on three upcoming Marcellus Shale pads consisting of 11 wells to avoid bringing incremental volumes into the…
Argentina’s YPF Aiming to Become ‘Global LNG Player,’ Says New CEO
Argentina’s 51% state-owned oil and gas company YPF SA is aiming to sanction a large-scale LNG export project by mid-2025, with the first 1-2 million metric tons/year (mmty) of liquefaction capacity online by 2027, the firm’s new management said. “Our goal is to become a global LNG player through the massive monetization of our shale…
Alberta’s Peyto ‘Still Making Money’ Despite Low Natural Gas Prices; No Curtailments Planned
Alberta natural gas producer Peyto Exploration & Development Corp. has no plans to curtail production like some of its North American peers, despite current weak pricing at the Henry Hub and AECO locations. Peyto would only shut in wells if AECO prices were to go negative, CEO Jean-Paul Lachance told analysts during the firm’s fourth…
Alberta Royalty Owner Topaz Forecasting Slower Natural Gas Production Growth as AECO Prices Slump
Calgary-based Topaz Energy Corp. is targeting slightly higher natural gas-weighted royalty production in 2024 after posting double-digit growth in 2023. The energy investment company does not operate, control or develop oil and gas assets. Rather, its royalty portfolio includes 60%-plus of undeveloped acreage, which attracts operator development with no capital. The revenue stream is primarily…
Mexico’s CFE Swings to Profit, Citing Low Natural Gas Prices, Nearshoring
Mexico’s state power company Comisión Federal de Electricidad (CFE) credited lower natural gas prices as contributing to the company’s best full-year profits in a decade last year. CFE is the country’s largest power generator and distributor, the primary importer and marketer of natural gas, and monopoly owner of the electricity transmission grid. The company reported…
Following FERC Approval, Oneok Eyeing Midyear FID for Saguaro Connector Natural Gas Pipeline
Oneok Inc. is aiming to take a final investment decision (FID) by the middle of this year on the 2.8 Bcf/d Saguaro Connector natural gas pipeline. The U.S. Federal Energy Regulatory Commission (FERC) approved the project’s Presidential Permit in February. Saguaro Connector would transport Permian Basin natural gas to the U.S.-Mexico border. From there, it…
Devon ‘Optimistic’ About Future of Natural Gas, but Staying ‘As Oily as We Can’ for Now
Though it is a major producer of U.S. natural gas, oil economics will dictate investment decisions for Devon Energy Corp. for the foreseeable future, management indicated Wednesday. Oklahoma City-based Devon is the 16th largest producer of natural gas among U.S. publicly traded firms, according to NGI’s most recent calculations. It operates primarily in the Permian…
Oneok Capitalizing on Flood of Bakken Natural Gas
Rising gas-to-oil ratios (GOR) and a mandate to stamp out flaring in the Bakken Shale mean opportunity for the Williston Basin’s leading natural gas processor, Oneok Inc., management said Tuesday. During a call with analysts to discuss the midstreamer’s fourth quarter 2023 earnings, CEO Pierce Norton II and his executive team highlighted that GORs in…
Mexico Natural Gas Production Dips for Fourth Straight Month Amid Pemex Financial Woes
Natural gas production in Mexico averaged 4.07 Bcf/d in January 2024, down from 4.25 Bcf/d in January 2023 and marking a fourth straight sequential decline. State oil company Petróleos Mexicanos (Pemex) supplied 3.86 Bcf/d of the total, compared to 4.03 Bcf/d a year earlier, according to the latest data from upstream regulator Comisión Nacional de…