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Alex Steis

Alex Steis joined the staff of NGI in June of 2000. He received his bachelor's degree in Business Management from Syracuse University in New York in May of 2000.

Permian Riding High in Latest Baker Hughes Rig Count

Permian Riding High in Latest Baker Hughes Rig Count

Oil was king for the week ending May 25 as the number of rigs on the hunt in the United States increased by 15 rigs to 859 over the previous week, according to Baker Hughes Inc. (BHI) data.

May 25, 2018
EIA’s On Target 86 Bcf Draw Confirms No Urgent Storage Tightness

EIA’s On Target 86 Bcf Draw Confirms No Urgent Storage Tightness

Industry prognosticators hit it nearly right on the nose Thursday morning as the Energy Information Administration (EIA) reported that 86 Bcf was withdrawn from underground storage for the week ending March 16.

March 22, 2018
Seasonal Rig Slowdown Continues, But for How Long?

Seasonal Rig Slowdown Continues, But for How Long?

Adhering to the normal winter rig slowdown, the number of U.S. oil and gas rigs in operation for the week ended Jan. 5 dropped by five to 924, according to Baker Hughes data. However, all five lost rigs came from the oil side of the ledger.

January 5, 2018
DJ-Niobrara, Permian Still in Producers’ Focus Based on Rig Count

DJ-Niobrara, Permian Still in Producers’ Focus Based on Rig Count

The last North American rig count of 2017 went out with a whimper instead of a bang as the number of rigs actively drilling for oil and gas for the week ending Dec. 29 declined by two units to 929, according to Baker Hughes data.

December 29, 2017

Penn Virginia Closes Devon Eagle Ford Deal, Eyes Extended Reach Laterals

Penn Virginia Corp. reported Tuesday that it has completed its acquisition of Eagle Ford Shale assets located primarily in Lavaca County, TX from Devon Energy Corp. for $205 million in cash.

October 3, 2017
Physical NatGas Trading A Mixed Bag While September Futures Jump 20 Cents

Physical NatGas Trading A Mixed Bag While September Futures Jump 20 Cents

Physical natural gas trading for the week ended Aug. 11 was a tale of two stories, as Northeastern, Appalachian and Californian price points were predominantly in the red on moderating temperatures and pipe constraints, while the rest of the country’s locations inched higher from a couple of pennies to nearly a dime.

August 11, 2017
Bullish Storage Build Puts Pressure on $3 Natural Gas

Bullish Storage Build Puts Pressure on $3 Natural Gas

Natural gas futures bulls received a dose of supportive fundamentals Thursday morning as the Energy Information Administration reported that a less-than-expected 28 Bcf was injected into underground storage for the week ended Aug. 4.

August 10, 2017
U.S. Oil & Gas Rig Count 118% Higher Than a Year Ago

U.S. Oil & Gas Rig Count 118% Higher Than a Year Ago

U.S. oil and gas rig activity remained pretty steady during the last week of June as those in search of oil declined by two to 756, while those drilling for natural gas added one to 184, according to data from Baker Hughes Inc.

June 30, 2017
Rigs Finish June at a Steady Clip; All Eyes on Permian

Rigs Finish June at a Steady Clip; All Eyes on Permian

U.S. oil and gas rig activity remained pretty steady during the last week of June as those in search of oil declined by two to 756, while those drilling for natural gas added one to 184, according to data from Baker Hughes Inc.

June 30, 2017
Lack of Heat Results in Across-the-Board Natural Gas Price Drops

Lack of Heat Results in Across-the-Board Natural Gas Price Drops

Natural gas cash and futures traders were seeing a lot of red during the short week as moderate temperatures combined with bearish storage data to produce double-digit losses across the physical market and the financial screen.

June 2, 2017