covid-19

Offshore Driller Pacific Sees Emergence From Bankruptcy as Imminent

Offshore Driller Pacific Sees Emergence From Bankruptcy as Imminent

Offshore driller Pacific Drilling Co. expects to emerge from bankruptcy by the end of the year after the U.S. Bankruptcy Court for the Southern District of Texas confirmed the company’s proposed reorganization plan. “The Court’s confirmation of our plan represents an important milestone in our progress towards emergence by year-end with a fully de-levered balance…

December 29, 2020
NGI’s Hub & Flow Explores Toilet Paper Debacle, Similar Natural Gas Demand Trends Amid Covid-19 — Listen Now

NGI’s Hub & Flow Explores Toilet Paper Debacle, Similar Natural Gas Demand Trends Amid Covid-19 — Listen Now

Click here to listen to a recent episode of NGI’s Hub & Flow podcast. Senior Editor Leticia Gonzales chats with NGI Senior Systems Engineer Nate Harrison about the changes in toilet paper consumption since Covid-19 and how similar changes in natural gas use have altered supply/demand balances.Believing that transparent markets empower businesses, economies and communities,…

December 29, 2020
Natural Gas Futures Down Despite Cooler Forecasts Amid Renewed Virus Fears

Natural Gas Futures Down Despite Cooler Forecasts Amid Renewed Virus Fears

Amid renewed economic concerns over the coronavirus, natural gas futures eased lower early Monday even as the latest forecasts leaned colder. The January Nymex contract was off 2.4 cents to $2.676/MMBtu at around 8:50 a.m. ET. Despite colder trends in forecasts over the weekend, natural gas prices appeared to be dragged lower early Monday by…

December 21, 2020
Utica Shale Stalwart Gulfport Energy Files for Bankruptcy

Utica Shale Stalwart Gulfport Energy Files for Bankruptcy

Gulfport Energy Corp. filed for Chapter 11 bankruptcy protection Friday, becoming the latest exploration and production (E&P) company this year to succumb to low commodity prices made worse by the Covid-19 pandemic.  The company said it has the support of 95% of its revolving credit facility lenders and other creditors holding over two-thirds of its…

November 17, 2020
North Dakota Redirects Covid Funds to Cut DUCs, Stimulate Oilfield Work

North Dakota Redirects Covid Funds to Cut DUCs, Stimulate Oilfield Work

North Dakota officials last Friday re-allocated $16 million from federal Covid-19 funds to reduce a growing number of drilled but uncompleted wells (DUC) while creating up to 1,000 temporary jobs in the oil and gas sector. The action by the state Emergency Commission chaired by Gov. Doug Burgum was part of an effort to reassign…

October 26, 2020
Natural Gas Futures Slide as Trump’s Positive Covid-19 Test Brings More Uncertainty

Natural Gas Futures Slide as Trump’s Positive Covid-19 Test Brings More Uncertainty

As news that President Trump tested positive for the coronavirus roiled markets the world over, natural gas futures were down sharply in early trading Friday, mirroring declines in crude. The November Nymex contract was off 12.0 cents to $2.407/MMBtu at around 8:40 a.m. ET. News of Trump’s positive test, revealed by the president himself over…

October 2, 2020
NW Natural’s Customer Base Expanding Despite Pandemic, with RNG Opportunities Eyed

NW Natural’s Customer Base Expanding Despite Pandemic, with RNG Opportunities Eyed

Portland, OR-based NW Natural executives on Friday talked up prospects in the renewable natural gas (RNG) sector and the growth in the customer base, which has come despite depressed demand from Covid-19.  CEO David Anderson during the second quarter conference call said construction and conversions have led to adding more than 13,000 customers during the…

August 10, 2020
Stung by Steep 2Q Decline in Commodity Prices, Total Sees More Volatility Ahead

Stung by Steep 2Q Decline in Commodity Prices, Total Sees More Volatility Ahead

Total SE recorded a big loss in the second quarter and took an $8.1 billion impairment as oil, natural gas and liquefied natural gas (LNG) prices all declined precipitously and the global economy reeled from the Covid-19 pandemic. An oil market crisis, historically low natural gas prices and the economic slowdown in Europe decreased petroleum…

July 31, 2020
Helmerich & Payne Looking to Performance-Based Rig Contracts as Covid-19 Assaults Activity

Helmerich & Payne Looking to Performance-Based Rig Contracts as Covid-19 Assaults Activity

Tulsa-based Helmerich & Payne Inc. (H&P), which fabricates and operates a fleet of high-performance drilling rigs around the world, is aligning operations toward performance-based commercial models rather than the industry standard dayrates to build customer support, CEO John Lindsay said Wednesday. What historically were separate U.S. Land Operations and HP Technologies business segments have been…

July 29, 2020
Canada Oil, Gas Drilling in Modest Recovery, but Covid-19 Saps Expectations

Canada Oil, Gas Drilling in Modest Recovery, but Covid-19 Saps Expectations

Canadian oil and gas drilling has begun to recover, but it remains well below expectations before the Covid-19 pandemic inflicted a near total halt on field activity. As of this week the Canadian Association of Oilwell Drilling Contractors (CAODC) reported 42 rigs in action including 31 in Alberta, eight in British Columbia (BC) and three…

July 24, 2020
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