Oil and natural gas permitting in the Lower 48 slowed down sequentially in October, although the monthly permit count was up on both a year/year basis and when compared to pre-Covid October 2019 numbers, Evercore ISI data show. Operators filed a total of 3,308 permits last month, down 16% from September but up 25% versus…
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Lower 48 Oil, Natural Gas Permitting Slumps, but Up from Year Ago
August natural gas and oil permitting across the Lower 48 reversed course from July, particularly in the Permian Basin, but activity still was higher than a year ago, according to data compiled by Evercore ISI. New well permitting declined in August by 3,106 month/month (m/m). Still, the tally last month was 27% higher than in…

Lower 48 Oil and Natural Gas Permitting Dips Again in June as Texas, Louisiana Slip
June is usually a strong month for U.S. oil and gas permitting, but activity overall dipped for the second month in a row, according to an analysis by Evercore ISI. The investment firm each month compiles a rundown of permitting activity in the United States using state and federal data. According to Evercore, June saw…

U.S. E&P Capex Said Roaring Higher as Upstream Fundamentals Strengthen
Global oil and natural gas upstream spending is climbing sharply higher from initial 2022 forecasts, with North America likely looking at a 33% jump from last year. Evercore ISI last December in its global upstream capital expenditure (capex) survey, said the average increase over 2021 would be 16%. However, exploration and production (E&P) companies worldwide…

Lower 48 Permitting Slips as Permian Dips, but Haynesville, Eagle Ford, Bakken Rip
The U.S. oil and gas drilling rig count is steadily rising, but permitting activity is a bit more wobbly, as the Lower 48 recorded a double-digit monthly dip in May. According to data compiled by Evercore ISI using state and federal information, Lower 48 permitting plunged by 17% in May, month/month (m/m). The Permian Basin…

U.S. E&Ps Returning Cash to Shareholders, but Is Output Also Set to Climb?
Natural gas and oil demand has risen since Russia invaded Ukraine in late February, but exploration and production (E&P) executives in first quarter conference calls clung to capital discipline, favoring shareholder returns over boosting output. With the quarter now in the rearview mirror, a myriad of questions remains to determine the direction of U.S. activity…

NGI The Weekly Gas Market Report
U.S. LNG Output Tested as Natural Gas Prices Crater Worldwide
Domestic liquefied natural gas (LNG) exports have remained steady and are on track to finish the month well above year-ago levels as the market continues to be tested by word of new cargo cancellations and warning signs for what lies ahead.

NGI The Weekly Gas Market Report
Tellurian Negotiations for Driftwood LNG Deal With Petronet Yet to Bear Fruit, Deadline Extended
Still seeking the commitments it will need to reach a final investment decision (FID) on its proposed Driftwood liquefied natural gas (LNG) export project, Tellurian Inc. said it has extended negotiations with prospective buyer Petronet LNG Limited of India.
Lower 48 Permitting Climbs in January but Down Sharply From Year-Ago Totals
U.S. onshore permits climbed 12% to 2,612 in January from December, mostly from a rebound in the Permian Basin, but overall activity was sharply off from a year ago, according to a recap by Evercore ISI.
Oil, Gas Permitting Slumped Across Lower 48 in December
Capital discipline appeared to creep into the U.S. drilling permit count at the end of 2019, with slumping activity during December seen across the Lower 48, according to data compiled by Evercore ISI.