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Mexico’s Pemex Aiming for 15% Increase in Natural Gas Production in 2021

Mexico’s Pemex Aiming for 15% Increase in Natural Gas Production in 2021

Mexican state oil company Petróleos Mexicanos (Pemex) is forecasting a base-case scenario increase of natural gas production to 4.19 Bcf/d in 2021 from 3.64 Bcf/d realized in 2020, according to its newly released 2021-2025 business plan. For 2022, Pemex sees production reaching 4.39 Bcf/d before dropping to 4.1 Bcf/d in 2023 and 3.94 Bcf/d in…

April 7, 2021
Permian-Focused Solaris Issues ‘Landmark’ Sustainability Bonds for Produced Water Infrastructure

Permian-Focused Solaris Issues ‘Landmark’ Sustainability Bonds for Produced Water Infrastructure

Permian Basin-focused Solaris Midstream Holdings Inc. said it has completed offering $400 million in senior unsecured notes for the first sustainability linked bond (SLB) in the produced water infrastructure industry. The Houston-based operator, parent company to Solaris Water Midstream LLC, said the notes were a “landmark issuance.” SLBs, which are used for general corporate purposes,…

April 5, 2021
Dry Natural Gas Output Down, Fuel Oil Production Up in February for Mexico’s Pemex

Dry Natural Gas Output Down, Fuel Oil Production Up in February for Mexico’s Pemex

Mexican national oil company Petróleos Mexicanos (Pemex) reported a decline in dry natural gas output from its processing centers but an increase in fuel oil production from its refineries in February. Dry natural gas production averaged 2.08 Bcf/d for the month, down from 2.18 Bcf/d in January and 2.19 Bcf/d in February 2020. Fuel oil…

March 31, 2021
Devon’s 1Q Oil, Gas Production Down 8% on February’s Winter Blast

Devon’s 1Q Oil, Gas Production Down 8% on February’s Winter Blast

Oklahoma City-based Devon Energy Corp.’s first quarter oil and natural gas production, mostly pulled from the Permian Basin, is likely to be off by 8% because of the wintry freeze that gripped the country in February, the independent said Monday. Production has since been restored to pre-storm levels, with weather-related downtime “confined to the first…

March 29, 2021
U.S. Adds Six Rigs on Strength of Oil Activity; Natural Gas Count Steady

U.S. Adds Six Rigs on Strength of Oil Activity; Natural Gas Count Steady

Another round of healthy gains in the oil patch pushed the U.S. rig count six units higher to 417 for the week ended Friday (March 26), according to data from oilfield services provider Baker Hughes Co. (BKR). After adding nine rigs in the previous week, the domestic oil patch picked up an additional six rigs…

March 26, 2021
Permian, Marcellus Gains See U.S. Rig Count Extend Uptrend

Permian, Marcellus Gains See U.S. Rig Count Extend Uptrend

Activity increases in the Permian Basin and Marcellus Shale propelled the U.S. rig count five units higher to 402 for the week ending Friday (Feb. 26), according to updated data from Baker Hughes Co. (BKR). Four oil-directed rigs and one natural gas-directed rig were added for the week, bringing the combined domestic total to within…

February 26, 2021
Haynesville-Focused Comstock ‘Hitting the Jackpot’ as Natural Gas Prices Skyrocket, Export Demand Improves

Haynesville-Focused Comstock ‘Hitting the Jackpot’ as Natural Gas Prices Skyrocket, Export Demand Improves

With natural gas prices up and exports climbing, Haynesville Shale-focused Comstock Resources Inc. is looking to have a “fabulous” 2021, CEO Jay Allison said last week. A conference call to discuss 4Q2020 performance and the outlook for 2021 was held in the midst of the deep freeze in Texas, which sent gas prices soaring.  Comstock…

February 22, 2021
Cabot to Cut Spending, Maintain Pennsylvania Production Despite Better Natural Gas Outlook

Cabot to Cut Spending, Maintain Pennsylvania Production Despite Better Natural Gas Outlook

Appalachian pure-play Cabot Oil & Gas Corp. plans to keep year/year production flat in 2021 and cut spending, despite what management believes is likely to be a better year for natural gas producers. In formally releasing its plans for this year, the company reiterated preliminary guidance unveiled in October to move through 2021 in maintenance…

February 8, 2021
EIA Predicts ‘Record-High’ U.S. Oil, Natural Gas Output Through 2050

EIA Predicts ‘Record-High’ U.S. Oil, Natural Gas Output Through 2050

Oil prices will inform the trajectory of U.S. oil and natural gas production moving forward, but supply is on track to maintain record levels through 2050, according to the Energy Information Administration’s (EIA) latest long-term projections. Under the baseline reference case in the agency’s Annual Energy Outlook 2021 (AEO2021), published Wednesday, U.S. oil and natural…

February 5, 2021
Permian, Haynesville, Utica Rig Totals Climb as U.S. Adds Eight Units

Permian, Haynesville, Utica Rig Totals Climb as U.S. Adds Eight Units

Propelled by growing activity across the Permian Basin and the Haynesville and Utica shales, the U.S. rig count rose eight units to 392 for the week ending Friday (Feb. 5), according to the latest numbers from Baker Hughes Co. (BKR). The United States saw a net increase of four natural gas-directed rigs for the week,…

February 5, 2021
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