Matthew Veazey

Natural gas and oil industry executives across Texas, northern Louisiana, and southern New Mexico expect a Henry Hub natural gas price of $7.55/MMBtu and a West Texas Intermediate (WTI) oil price of $108/bbl by the end of this year, according to the Federal Reserve Bank of Dallas. The Dallas Fed, as it is known, obtained…

Direct upstream natural gas and oil industry employment in Texas for May was down 1,400 jobs from April, the Texas Independent Producers and Royalty Owners (TIPRO) reported last week. TIPRO, which uses U.S. Bureau of Labor Statistics data to tally its monthly upstream employment figures, said the Lone Star State’s direct job count was 188,700…

Exploration and production (E&P) operators in the U.S. onshore are ramping up drilling activity, particularly in the Permian Basin, to offset the shrinking drilled but uncompleted (DUC) well inventory, according to ESAI Energy LLC. Crude oil prices topping $100/bbl “have incentivized more rigs, especially from private companies, and the diminishing inventory of DUCs means more…

A U.S. Department of Energy (DOE) proposal could increase energy-efficiency requirements for the average natural gas furnace in American homes, and it has spurred questions about consumer choice and affordability. “By updating energy standards for many carbon-emitting appliances, such as home furnaces, the Biden Administration is working to save consumers money,” DOE Secretary Jennifer Granholm…

FERC on Thursday issued a proposed rule that aims to speed up the process for linking new electric generation to the power grid. The Federal Energy Regulatory Commission’s unanimous vote advances a notice of proposed rulemaking (NOPR) that could ease interconnection queue backlogs. Commission staff said the rule would add certainty to the process and…

Citing higher commodity prices, Tulsa-based independent Unit Corp. said it has ended a process for selling “up to all of its oil and gas properties and reserves.” The exploration and production (E&P) company has ended its engagement with Tudor, Pickering, Holt & Co. (TPH) to advise on the divestment process. CEO Philip B. Smith said…

Major utilities across the United States are paying more for natural gas-fired generation, and they are passing the higher cost on to consumers. Earlier this month, the American Gas Association (AGA) reported that U.S. domestic gas demand averaged 68.8 Bcf/d in May, up 3.5% year/year. AGA attributed most of the additional demand to power burn,…

More than a new source of revenue, extracting lithium from produced water could allow natural gas and oil industry players to achieve environmental, social, and governance (ESG) goals, informed sources told NGI. The level of interest in lithium extraction produced water, aka brines, among exploration and production companies, oilfield services firms and others is “growing,”…

Devon Energy Corp. has agreed to purchase RimRock Oil and Gas LP’s Williston Basin leasehold interest and related assets for $865 million.  “This bolt-on acquisition is highly complementary to our existing position and is immediately accretive,” said CEO Rick Muncrief. The deal with RimRock, a portfolio company formed in 2016 by private equity giant Warburg…