Exploration And Production

More Signs of Post-Ida Recovery in Latest Tally of GOM Drilling Activity

More Signs of Post-Ida Recovery in Latest Tally of GOM Drilling Activity

Propelled by rising activity in the Gulf of Mexico (GOM) amid the recovery from Hurricane Ida-related impacts, the U.S. rig count rose nine units to 521 for the week ended Friday (Sept. 24), according to Baker Hughes Co. (BKR). Ten oil-directed rigs were added in the United States for the week, offsetting a one-rig decline…

September 24, 2021
ConocoPhillips Snapping Up Shell’s Permian Portfolio for $9.5B

ConocoPhillips Snapping Up Shell’s Permian Portfolio for $9.5B

Houston-based ConocoPhillips on Monday agreed to pay $9.5 billion to buy Royal Dutch Shell plc’s Permian Basin portfolio, which a Shell executive said reflected “our focus on value over volumes” as it accelerates its energy transition from fossil fuels. Shell’s Permian business includes ownership in 225,000 net acres with current production of around 175,000 boe/d.…

September 20, 2021
Shell Says ‘Significant’ Damage from Ida Pummels Oil, Gas Services in Deepwater GOM

Shell Says ‘Significant’ Damage from Ida Pummels Oil, Gas Services in Deepwater GOM

An offshore oil and natural gas complex in the deepwater Gulf of Mexico (GOM) is likely to be offline for repairs for months because of damage inflicted by Hurricane Ida, Royal Dutch Shell plc said Monday. A “comprehensive damage assessment” was conducted by Shell Offshore Inc. following Ida, which stormed through the GOM at the…

September 20, 2021
BP’s Matapal Project Expands Natural Gas Supply for Trinidad and Tobago

BP’s Matapal Project Expands Natural Gas Supply for Trinidad and Tobago

More natural gas is flowing from the Matapal project offshore the dual island nation of Trinidad and Tobago (T&T), BP plc said Monday. The three-well subsea development by BP Trinidad and Tobago LLC (bpTT) ramped up ahead of schedule and under budget. Matapal ties back to the bpTT’s existing Juniper platform, which is about 80…

September 20, 2021
U.S. Rig Count Climbs on Partial GOM Recovery

U.S. Rig Count Climbs on Partial GOM Recovery

A week after the Gulf of Mexico (GOM) saw its rig count flatline, a partial recovery in offshore activity helped lift the overall U.S. drilling tally six units higher to 503 as of Friday, according to the latest data from Baker Hughes Co. (BKR). Seven oil-directed rigs were added in the United States for the…

September 10, 2021
Lower 48 Permitting Stunted Overall in August, with Declines in New Mexico, Texas and Wyoming

Lower 48 Permitting Stunted Overall in August, with Declines in New Mexico, Texas and Wyoming

U.S. drilling permit activity slumped across the major Lower 48 basins in August, up sharply from a year ago but down from 2019 levels, according to Evercore ISI. The Evercore team led by analyst James West compiles a monthly report about drilling activity using state and federal data. Permits are usually requested by producers three…

September 8, 2021
Ida’s Path of Destruction Dogging Natural Gas, Oil Operations in Louisiana, Offshore

Ida’s Path of Destruction Dogging Natural Gas, Oil Operations in Louisiana, Offshore

Hurricane Ida may be long gone, but bitter memories of its torrid march through the Gulf of Mexico (GOM) and into the Lower 48 were slowing recovery efforts by the natural gas and oil industry. Producers that work offshore were struggling to return crews to platforms and rigs on Friday. Extensive damage in Louisiana’s Houma…

September 3, 2021
U.S. Rig Count Plummets as GOM Falls to Zero Amid Ida Fallout, BKR Says

U.S. Rig Count Plummets as GOM Falls to Zero Amid Ida Fallout, BKR Says

A major hurricane and a corresponding dramatic pullback in offshore drilling numbers saw the overall U.S. rig count plummet 11 units to 497 for the week ended Friday (Sept. 3), according to the latest figures published by Baker Hughes Co. (BKR). Net changes in the United States included a 16-rig decrease in oil-directed drilling and…

September 3, 2021
Montney Producer Advantage Energy Boosts Capex to Accelerate Drilling

Montney Producer Advantage Energy Boosts Capex to Accelerate Drilling

Montney Shale producer Advantage Energy Ltd. is seeking to boost oil and natural gas output this winter after raising its capital spending target for 2021 amid improved commodity prices. The Calgary-based company said it was raising its capital guidance by $20 million to a range of $140 million-$150 million. Advantage plans on using the extra…

September 3, 2021
Pemex Ixachi, Quesqui Fields Missing Production Goals as Natural Gas Prices Soar

Pemex Ixachi, Quesqui Fields Missing Production Goals as Natural Gas Prices Soar

Mexico’s highly touted Ixachi and Quesqui natural gas fields are producing below their stated targets amid historically high natural gas prices, according to the latest data from upstream regulator Comisión Nacional de Hidrocarburos (CNH). Discovered in 2017 by state oil company Petróleos Mexicanos (Pemex), Ixachi had been forecasted to reach peak production of 638.5 MMcf/d…

September 1, 2021
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