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Natural Gas Poised for Continued Growth Under Biden, Experts Say

Natural Gas Poised for Continued Growth Under Biden, Experts Say

The domestic and global outlook for natural gas remains relatively bright under a Joseph R. Biden Jr.  presidency, despite increasingly negative sentiment toward fossil fuels, according to experts. Although the president-elect is calling for a carbon-free power sector by 2030, gas-fired generation is needed to accommodate growing penetration of intermittent wind and solar energy in…

December 4, 2020
Growth in Oil Drilling Spurs U.S. Rig Count Higher; Natural Gas Rigs Decrease

Growth in Oil Drilling Spurs U.S. Rig Count Higher; Natural Gas Rigs Decrease

Another week of growth in the oil patch lifted the U.S. rig count three units to 323 for the week ending Friday (Dec. 4), according to the latest figures published by oilfield services provider Baker Hughes Co. (BKR). The United States saw a net increase of five oil-directed rigs for the week, offsetting a decline…

December 4, 2020
Latest NGI Hub & Flow Podcast Examines Election Impacts on Natural Gas, Oil Industry – Listen Now

Latest NGI Hub & Flow Podcast Examines Election Impacts on Natural Gas, Oil Industry – Listen Now

Click here to listen to the latest episode of NGI’s Hub & Flow podcast in which NGI associate editors Kevin Dobbs and Andrew Baker discuss the presidential election and its impacts for the natural gas and oil industry.  Dobbs and Baker discuss President-elect Biden’s priorities with respect to energy, climate and infrastructure, as well as…

November 16, 2020
U.S. Energy Industry Bracing for Change as Biden Becomes President-Elect

U.S. Energy Industry Bracing for Change as Biden Becomes President-Elect

Joseph R. Biden Jr. has become the president-elect and will take office in January, heralding a seismic shift in energy and climate policy from the executive branch. However, any major legislation could be stymied by a divided Congress, assuming Republicans retain their majority in the Senate, while executive actions could be challenged by a more…

November 9, 2020
EOG’s 21 Tcf Natural Gas Discovery in South Texas Competitive with ‘Premium Oil Plays,’ Says CEO

EOG’s 21 Tcf Natural Gas Discovery in South Texas Competitive with ‘Premium Oil Plays,’ Says CEO

Super independent EOG Resources Inc. has identified 21 Tcf net natural gas resource potential with an estimated 1,250 net locations in the South Texas formations of the Austin Chalk and Eagle Ford Shale. The discovery on the Dorado prospect is in Webb County, where EOG has 163,000 net acres, were in 700 feet of stacked…

November 6, 2020
Pioneer Natural Sees Federal Oil, Natural Gas Drilling Ban as Biggest Industry Exposure if Biden Hangs On

Pioneer Natural Sees Federal Oil, Natural Gas Drilling Ban as Biggest Industry Exposure if Biden Hangs On

Permian Basin heavyweight Pioneer Natural Resources Co.’s executive team sees a possible drilling ban on federal property as the biggest exposure facing the oil and gas industry if Joseph R. Biden Jr. hangs on to win the presidency, management said Thursday. Assuming that Republicans maintain a majority in the Senate, there “should be no effect…

November 5, 2020
ConocoPhillips Touts Concho Tie-Up, but Warns Election Results May Delay Alaska Project

ConocoPhillips Touts Concho Tie-Up, but Warns Election Results May Delay Alaska Project

ConocoPhillips swung to a third quarter loss, as oil and gas production curtailments made in response to the coronavirus pandemic’s impact on energy demand curbed revenue. The Houston-based super independent, however, has recovered ground in recent months and is going on offense in the Permian Basin with its planned acquisition of Concho Resources Inc., a…

October 30, 2020
E&P Mergers Creating Potential Headwind for OFS Sector, Says RPC Chief

E&P Mergers Creating Potential Headwind for OFS Sector, Says RPC Chief

U.S. oilfield activity has begun to tick higher from the historic lows last spring, but even stronger oil and natural gas prices are not enough to generate sustainable returns, RPC Inc. CEO Richard A. Hubbell said Wednesday. During the third quarter conference call, Hubbell said conditions have improved since bottoming in 2Q2020, but they are…

October 29, 2020
Canada’s Cenovus, Husky to Swap Shares, Combine in C$23.6B Deal

Canada’s Cenovus, Husky to Swap Shares, Combine in C$23.6B Deal

Cenovus Energy Inc. announced Sunday it would take over Canadian oil and gas rival Husky Energy Inc., combining two of the country’s top producers, in a share swap valued at C$3.8 billion ($2.85 billion). Total estimated value of the transaction, including debt, is C$23.6 billion ($17.7 billion). The run rate synergies achieved by the corporate…

October 26, 2020
Latest Hub & Flow Podcast Delves into U.S. E&P Earnings Forecasts for Third Quarter — Listen Now

Latest Hub & Flow Podcast Delves into U.S. E&P Earnings Forecasts for Third Quarter — Listen Now

Click here to listen to the latest episode of NGI’s Hub & Flow podcast. In the latest podcast, NGI’s Patrick Rau, director of Strategy & Research, provides his analysis into how the third quarter earnings season is expected to play out for U.S. exploration and production companies in the weeks ahead.  Believing that transparent markets…

October 15, 2020