Curtailments

ConocoPhillips expects to see its third quarter 2020 production suffer another double-digit blow and realized prices take a roughly $15 hit as the Houston-based independent curtailed volumes to combat the weak oil environment. In an operations update issued Wednesday, ConocoPhillips said it expects to report a roughly 262,000 boe/d year/year decline (19.7%) in third quarter…

EQT Corp. has once again curtailed Appalachia natural gas production, taking around 425 MMcf/d net output offline Sept. 1, the company said last week. The move to cut production, announced at the Barclays CEO Energy-Power Conference, came less than two months after the largest natural gas producer in the United States brought back online 1.4…

Most of Noble Energy Inc.’s Lower 48 oil and gas volumes that were curtailed as the coronavirus sapped demand are back online as operating costs and netback pricing have improved. The Houston-based super independent, which issued its results Monday, curtailed 30,000 boe/d net during 2Q2020. Most of the reduced volumes, estimated at 80%, were curtailed…

North American explorer Ovintiv Inc. has brought back online substantially all of its shut-in volumes of 32,000 boe/d, including 18,000 b/d of crude and condensate voluntarily curtailed in the second quarter, CEO Doug Suttles said Wednesday. Suttles during the quarterly conference call credited efficiencies achieved by reducing costs and the workforce, as well as financial…

The impact of Covid-19 on pressuring U.S. natural gas prices remains a wildcard, but supply/demand changes point for the strip to move lower this year before 2021 ushers in “extremely bullish” prices, Raymond James & Associates Inc. said Monday.

Equitrans Midstream Corp. said in a regulatory filing on Monday its largest customer, EQT Corp., is temporarily curtailing 1.4 Bcf/d of production in Ohio and Pennsylvania.

The Oklahoma Corporation Commission (OCC), the state’s oil and gas regulator, on Wednesday approved a relief measure allowing operators to shut-in production without losing their lease rights.

The Alberta government on Tuesday announced a one-year extension of mandatory oil production cuts to prop up prices through 2020 and counter prolonged pipeline project delays.

A positive outlook for summer electricity supplies for California does not eliminate risks in the southern half of the state due to the shut-in Aliso Canyon gas storage facility in Los Angeles.