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Mexico’s Carso Developing Sonora-Baja California Natural Gas Pipeline

Mexico’s Carso Developing Sonora-Baja California Natural Gas Pipeline

Mexican conglomerate Grupo Carso SAB has signed a deal with state utility Comisión Federal de Electricidad (CFE) to build and operate a natural gas pipeline in the northwestern portion of the country. The natural gas pipeline would run across the states of Sonora and Baja California for a distance of about 416 kilometers, or around…

December 26, 2023
U.S. E&P, OFS Executives Expect Uncertainty Ahead, with Henry Hub Seen Averaging $3.09 by End of 2024

U.S. E&P, OFS Executives Expect Uncertainty Ahead, with Henry Hub Seen Averaging $3.09 by End of 2024

Oil and natural gas activity across the most prolific area of the Lower 48 in Louisiana, New Mexico and Texas moderated in the final three months of the year, as natural gas production edged up slightly and oil output slowed down. The fourth quarter Dallas Fed Energy Survey, conducted by the Federal Reserve Bank’s Eleventh…

December 20, 2023
Energy Contractors Forecasting Growth for Canadian Oil and Natural Gas Drilling in 2024

Energy Contractors Forecasting Growth for Canadian Oil and Natural Gas Drilling in 2024

The Canadian oil and natural gas well count – chiefly in Alberta, British Columbia and Saskatchewan – will rise to 6,229 in 2024 from 5,748 this year, according to an annual fall forecast by the Canadian Association of Energy Contractors (CAOEC). “A continuation of capital discipline within energy producers will create a ceiling on potential…

November 28, 2023
EIA Modeling June Oil Production Growth on Strength of Permian Output

EIA Modeling June Oil Production Growth on Strength of Permian Output

Driven by the Permian Basin, oil production out of seven key U.S. onshore regions is set to grow from May to June, while natural gas production is on track to decline, according to the updated projections from the Energy Information Administration (EIA). In its latest Drilling Productivity Report (DPR), EIA said it expects the Anadarko,…

May 17, 2021
Ovintiv Moves to Streamline Costs, Debt by Focusing on Anadarko, Montney and Permian

Ovintiv Moves to Streamline Costs, Debt by Focusing on Anadarko, Montney and Permian

Denver-based Ovintiv Inc. streamlined the business during 1Q2021 to focus only on the Anadarko, Montney and Permian basins as it eyes slashing debt to appease restless investors. With long-held but neglected shale properties in Canada’s Duvernay and the South Texas Eagle Ford sold off, the independent has accelerated a $4.5 billion total debt target timeline…

May 3, 2021
ExxonMobil Profits on Strong Natural Gas, Oil Prices, with South Texas Cracker Set for 2021 Start Up

ExxonMobil Profits on Strong Natural Gas, Oil Prices, with South Texas Cracker Set for 2021 Start Up

Recovering natural gas and oil prices, combined with cost cutting measures, sent ExxonMobil profits soaring in the first quarter, sending a strong signal that the global economy’s thirst for energy is rising. First quarter profits jumped to $2.7 billion (64 cents/share), from a loss of $610 million (minus 14 cents) in 1Q2020 and the loss…

April 30, 2021
OPEC Raises Global Oil Demand Forecast as Mexico’s Pemex Set for Modest Production Uptick

OPEC Raises Global Oil Demand Forecast as Mexico’s Pemex Set for Modest Production Uptick

The Organization of the Petroleum Exporting Countries (OPEC) on Tuesday formally raised its expectations for global oil demand in 2021, citing expectations for a recovery from the pandemic and stronger economic growth. In its Monthly Oil Market Report (MOMR), the cartel projected demand would rise by 5.95 million b/d this year, a nearly 7% increase…

April 14, 2021
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
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