Christopher Lenton

Denver-based Civitas Resources Inc. is taking on more upstream acreage in the Permian Basin. In a $2.1 billion transaction, Civitas signed an agreement with Vitol Inc. subsidiary Vencer Energy LLC to add some 44,000 net acres in the Midland Basin in West Texas. The assets have current production of 62,000 boe/d, with about half of…

Mexico’s national utility Comisión Federal de Electricidad (CFE) through its international marketing subsidiary CFE International LLC (CFEi) has put out a bid for proposals for the supply of natural gas from Texas. CFEi is the U.S.-based entity responsible for procuring natural gas to support power generation and other needs in Mexico. The Mexican state giant…

Natural gas-fired power plants are becoming increasingly efficient in the United States, according to a new analysis by the U.S. Energy Information Administration (EIA). The average utilization rate, or capacity factor, for the U.S. fleet of combined-cycle natural gas turbine (CCGT) plants has increased from 40% in 2008 to 57% in 2022, EIA noted. More…

Shell plc is advancing its 2.7 Tcf Manatee offshore development in the waters off Trinidad and Tobago. Trinidad and Tobago’s Prime Minister Kev Rowley said earlier this month the project was going ahead as the dual island nation attempts to up domestic gas production to feed its flagship Atlantic LNG export facility. One of Atlantic…

North American natural gas futures have enjoyed a positive week, with October rolling off the board on Wednesday at $2.674/MMBtu after four consecutive days of gains. On Thursday, the New York Mercantile Exchange gas futures contract for November on its first day as prompt month settled at $2.942, up 4.3 cents. Healthy LNG demand at…

The American Petroleum Institute (API) along with 13 energy trade associations have requested the Biden administration develop “fair and consistent federal leasing regulations” for onshore natural gas and oil development. Comments were submitted to the Department of the Interior’s Bureau of Land Management (BLM). “Our nation and the world will continue to need reliable, affordable…

Norway’s Equinor ASA is set to develop a massive natural gas project offshore Brazil. The company submitted a declaration of commerciality for the BM-C-33 concession in Brazil’s Campos Basin to oil and gas regulator Agência Nacional de Petróleo, Gás Natural e Biocombustíveis (ANP). The $9 billion Raia Manta and Raia Pintada projects on the deepwater…

The U.S. Department of Transportation’s Pipeline and Hazardous Materials Safety Administration (PHMSA) said last week it is awarding $14.8 million for projects that would improve natural gas and oil pipeline safety. The grants are designed to support “important pipeline safety training and educational programs, as well as the advancement of pipeline safety technologies,” officials said.…

Bulls took the upper hand on Monday and Tuesday in the North American natural gas market, but stronger supply and mild temperatures gave bears the advantage on Wednesday and Thursday. On Thursday, the October New York Mercantile Exchange gas futures contract fell 12.3 cents day/day and settled at $2.610/MMBtu. November shed 8.1 cents to $2.840.…