Drilling

Democratic State Lawmakers Propose Fracking Ban in California

Democratic State Lawmakers Propose Fracking Ban in California

Two Democratic state senators in California on Wednesday introduced legislation to ban various well stimulation technologies, including hydraulic fracturing (fracking), along with establishing a 2,500-foot setback for wells from the population. Its authors — state Sens. Scott Wiener (San Francisco) and Monique Limon (Santa Barbara) — characterize Senate Bill (SB) 467 as being a boost…

February 18, 2021
H&P’s North American Rig Count Doubles in December from August Lows

H&P’s North American Rig Count Doubles in December from August Lows

Tulsa-based global drilling giant Helmerich & Payne Inc. (H&P) said its North American rig count climbed by one-third sequentially and at the end of December was twice the lows experienced last August. The oilfield services (OFS) driller, whose portfolio is defined by drilling innovations, ended December with 94 rigs in operation across North America. That…

February 11, 2021
U.S. Oil, Natural Gas Industry Sounds Alarm as Biden Order Halts Federal Leasing

U.S. Oil, Natural Gas Industry Sounds Alarm as Biden Order Halts Federal Leasing

The U.S. oil and gas industry reacted with dismay and the first of perhaps multiple lawsuits Wednesday ahead of an executive order (EO) by President Biden directing the Department of the Interior (DOI) to pause new oil and natural gas leasing on federal lands and offshore waters. The EO published Wednesday afternoon follows a 60-day…

January 28, 2021
Hess Sees ‘Very Large’ Pent-Up Bakken Potential as Production Beats Expectations

Hess Sees ‘Very Large’ Pent-Up Bakken Potential as Production Beats Expectations

Hess Corp. executives see the Bakken Shale continuing to drive significant cash flow for almost another decade, despite a moratorium on federal oil and natural gas leasing by the Biden administration. CEO John Hess told investors on Wednesday only 2% of the company’s Bakken acreage is on federal lands. The exploration and production (E&P) company…

January 28, 2021
Legal Battles Loom as Biden Order Pauses Federal Oil, Natural Gas Leasing

Legal Battles Loom as Biden Order Pauses Federal Oil, Natural Gas Leasing

The U.S. oil and gas industry reacted with dismay and the first of perhaps multiple lawsuits Wednesday ahead of an executive order (EO) by President Biden directing the Department of the Interior (DOI) to pause new oil and natural gas leasing on federal lands and offshore waters. The EO published Wednesday afternoon follows a 60-day…

January 27, 2021
New World Order for U.S. E&Ps as Biden Freezes Near-Term Federal Oil, Natural Gas Leasing

New World Order for U.S. E&Ps as Biden Freezes Near-Term Federal Oil, Natural Gas Leasing

The Biden administration last week froze for 60 days awarding new oil and gas drilling permits, as well as leases on federal onshore and offshore property, likely heralding more permanent limits to be enacted down the road. The order mandating the freeze was signed by acting Department of the Interior (DOI) Secretary Scott de la…

January 25, 2021
California Oil, Gas Drilling Hits Historic Lows in 2020

California Oil, Gas Drilling Hits Historic Lows in 2020

New oil and natural gas drilling hit historic lows in California last year while a renewed emphasis on abandoned wells turned up a record high number of permanently sealed wells, the state Geologic Energy Management Division (CalGEM) reported Wednesday. The severe downturn in permitting and new drilling can be seen as a result of the…

January 25, 2021
U.S. Oil, Natural Gas Industry Warns of Economic, Environmental Fallout from Biden Freeze of Federal Leasing

U.S. Oil, Natural Gas Industry Warns of Economic, Environmental Fallout from Biden Freeze of Federal Leasing

The Biden administration has frozen awarding new oil and gas drilling permits, as well as leases on federal onshore and offshore property, for 60 days, likely heralding more permanent limits to be enacted down the road. The order mandating the freeze was signed by acting Department of the Interior (DOI) Secretary Scott de la Vega…

January 22, 2021
NOV Sees North American Oil, Gas Activity Rising, but Overseas Demand Soft

NOV Sees North American Oil, Gas Activity Rising, but Overseas Demand Soft

Oilfield equipment expert NOV Inc. warned Tuesday that fourth quarter earnings would be below guidance as stronger North American activity levels were not enough to overcome a softer international market. On a consolidated basis, NOV expects to report quarterly revenue of $1.33 billion and an operating loss of $327 million.  “While rising North American activity…

January 21, 2021
Mexico’s Leading Private Natural Gas Producer Secures 2021 Work Plan Approval

Mexico’s Leading Private Natural Gas Producer Secures 2021 Work Plan Approval

Mexico’s upstream oil and gas regulator Comisión Nacional de Hidrocarburos (CNH) on Tuesday approved three exploration and production (E&P) work plans for 2021 that entail combined investment of $115.7 million. Servicios Múltiples de Burgos, S.A. de C.V. (SMB), a 50/50 joint venture between Tecpetrol SA and Industrial Perforadora de Campeche (IPC), obtained the green light…

January 13, 2021
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