Drilling

Helmerich & Payne Sees Strong Rig Demand in North America, Growing International Business

Helmerich & Payne Sees Strong Rig Demand in North America, Growing International Business

With oil and natural gas development rising, Tulsa-based driller Helmerich & Payne Inc. (H&P) is on course to achieve the best economic returns in eight years, CEO John Lindsay said recently.  “We are beginning to recognize economic returns at levels that we have not experienced since 2014,” Lindsay said during the fiscal fourth quarter quarter…

November 21, 2022
North Dakota Posts Record Natural Gas Production, Capture Rates; TC Eyes Northern Border Expansion

North Dakota Posts Record Natural Gas Production, Capture Rates; TC Eyes Northern Border Expansion

North Dakota reported record high natural gas production of 3.18 Bcf/d in September, up 2.8% from August, according to the latest data from the state’s Department of Mineral Resources (DMR). Producers captured and marketed 3.02 Bcf/d or 95% of the total, another all-time record amid efforts to curb routine gas flaring, said DMR’s Lynn Helms,…

November 18, 2022
Permian, GOM Lead Surge in U.S. Drilling Activity in Updated BKR Count

Permian, GOM Lead Surge in U.S. Drilling Activity in Updated BKR Count

Driven by strong growth in the Permian Basin and in the Gulf of Mexico (GOM), the U.S. rig count surged nine units higher to 779 for the week ended Nov. 11, oilfield services provider Baker Hughes Co. (BKR) reported Friday. Oil-directed drilling accounted for the entirety of the domestic gains for the period, as the…

November 14, 2022
Comstock Scores Big on Strong Natural Gas Prices, LNG Sales from Haynesville Output

Comstock Scores Big on Strong Natural Gas Prices, LNG Sales from Haynesville Output

Haynesville Shale pure-play Comstock Resources Inc. scored in the third quarter, lifted by strong natural gas prices and by selling 15% of output directly to LNG shippers on the Gulf Coast. The Frisco, TX-based independent gained leverage with 70% of its natural gas sold in “high value” Gulf Coast markets, including the liquefied natural gas…

November 7, 2022
Marathon Oil Nearly Doubling Eagle Ford Position with $3B Acquisition of Natural Gas, Condensate-Rich Assets

Marathon Oil Nearly Doubling Eagle Ford Position with $3B Acquisition of Natural Gas, Condensate-Rich Assets

Marathon Oil Corp. has entered a deal to acquire the natural gas and condensate-weighted Eagle Ford Shale assets of Ensign Natural Resources for $3 billion in cash. The assets span 130,000 net acres in South Texas’ Live Oak, Bee, Karnes and Dewitt counties across the condensate, wet gas and dry gas phase windows of the…

November 4, 2022
Natural Gas Drilling Total Eases Lower in Latest BKR Count, Oil Down Too

Natural Gas Drilling Total Eases Lower in Latest BKR Count, Oil Down Too

The U.S. natural gas rig count dropped one unit to 156 for the week ended Friday (Oct. 28), while a two-rig decline in oil drilling saw the combined domestic tally fall three units to 768, according to the latest figures from Baker Hughes Co. (BKR). Changes in the United States for the week included a…

October 28, 2022
Oilfield Services CEOs Say Latin America Driving Global Oil, Natural Gas Activity Uptick

Oilfield Services CEOs Say Latin America Driving Global Oil, Natural Gas Activity Uptick

Oilfield services companies are seeing a steady uptick in upstream activity and revenue across Latin America, both offshore and on land. “Internationally, growth continues to be led by Latin America, West Africa, and the Middle East,” said Baker Hughes Co. CEO Lorenzo Simonelli during the firm’s third-quarter earnings call. “In all of these markets, offshore…

October 26, 2022
Natural Gas Drilling Flat as Oil Patch Sees Modest Growth in Latest BKR Count

Natural Gas Drilling Flat as Oil Patch Sees Modest Growth in Latest BKR Count

The U.S. natural gas rig count was unchanged at 157 for the week ended Friday (Oct. 21), while oil-directed activity gains helped raise the combined domestic tally two units to 771, according to updated figures from Baker Hughes Co. (BKR). Net changes domestically included a two-rig increase in oil-directed drilling. Total land rigs increased by…

October 21, 2022
Colorado’s DJ Basin Leads Weekly Gains as U.S. Drilling Activity Rises

Colorado’s DJ Basin Leads Weekly Gains as U.S. Drilling Activity Rises

Bolstered by activity gains in the Denver Julesburg (DJ)-Niobrara Basin, the U.S. rig count rose two units to reach 771 for the week ended Friday (Oct. 21), according to the latest tally from oilfield services provider Baker Hughes Co. (BKR). Net changes domestically included a two-rig increase in oil-directed drilling, with natural gas-directed drilling unchanged…

October 21, 2022
Helmerich & Payne Looks to Reactivate More North American Drilling Rigs in 2023

Helmerich & Payne Looks to Reactivate More North American Drilling Rigs in 2023

Tulsa-based drilling technology expert Helmerich & Payne Inc. (H&P) is facing some inflationary pressures, but it still plans to reactivate up to 16 rigs by the end of March, CEO John Lindsay said. In a preview of fiscal 4Q2022 and full-year results, which are scheduled for Nov. 17, Lindsay offered a positive outlook for more…

October 20, 2022
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