E&Ps

Lower 48 exploration and production (E&P) firms must resist the urge to dramatically ramp up production as oil prices and demand recover, according to the CEOs of two U.S. heavyweights, ConocoPhillips and Pioneer Natural Resources Co.  “I hope there is discipline in the system,” ConocoPhillips CEO Ryan Lance said Tuesday during a webcast panel at…

Appalachian heavyweights Cabot Oil & Gas Corp. and Range Resources Corp. both plan to keep spending and production flat this year despite an improving outlook for natural gas.  “While a warmer start to the winter heating season and higher storage levels resulted in wider than anticipated differentials across the Appalachian Basin during the fourth quarter,…

Drilling and completions expert Patterson UTI Corp. is running 70 rigs today across the Lower 48, up three from the January average, and more equipment is likely to ramp up in the months to come, CEO Andy Hendricks said Thursday. Hendricks, who discussed the outlook during a fourth quarter conference call, said the company’s rig…

Private firms operating in the Mexican upstream oil and gas sector have maintained their commitment to the country despite the impacts of coronavirus and have even upped exploratory activity this year. This is according to a panel of experts who spoke during a virtual event last week organized by the #WeTweetEnergy group, an online community…

The release of a new five-year plan by Mexican Energy Ministry Sener could be a sign that future exploration and production (E&P) bid rounds for private sector operators are in the offing. That’s according to analysis done by Mexican consultancy Talanza.  E&P bid rounds have been frozen since President Andrés Manuel López Obrador came to…

The oilfield services (OFS) market could lose as much as $340 billion total for the value of purchases over the next eight years, particularly in unconventional plays, as oil and gas investments decline and consumption slows, according to Rystad Energy. Researchers now expect peak oil demand to “arrive earlier and at a lower level than…

Pennsylvania regulators are moving ahead with regulations for conventional oil and natural gas producers, with tentative plans to unveil the rulemaking package next year as legislative efforts continue to fail.  The Republican-controlled general assembly sent another bill last week to establish regulations for legacy exploration and production (E&P) operators to Democratic Gov. Tom Wolf, who…

Gulfport Energy Corp. revealed in a regulatory filing on Friday that it’s having discussions with its lenders about filing for bankruptcy.  The company has entered a 30-day grace period to defer making an interest payment that was due Thursday on its 6% senior unsecured notes due 2024. It took the grace period “while it continues…

Natural gas and oil operators are likely to report a return to normalcy — but not growth — when they unveil their third quarter results in the coming weeks, but the demand forecasts may be hazy amid a historic hurricane season and the expanded wave of damaging Covid-19 infections.  Schlumberger Ltd., the world’s largest oilfield…