Exploration And Production

Mexico’s Gas-Rich Lakach, Once Thought Dead, Being Revived as Export Project

Mexico’s Gas-Rich Lakach, Once Thought Dead, Being Revived as Export Project

New Fortress Energy Inc. (NFE) is steaming ahead with another LNG export project in Mexico. On Tuesday, the company said it had finalized a deal with Mexican state oil firm Petróleos Mexicanos (Pemex) to develop and operate a natural gas field and a liquefaction project off the coast of Veracruz. The offshore liquefaction plant at…

November 22, 2022
Two Natural Gas Rigs Added in U.S. in Latest BKR Count

Two Natural Gas Rigs Added in U.S. in Latest BKR Count

The U.S. natural gas rig count rose two units to 157 for the week ended Friday (Nov. 18), while an uptick in the oil patch helped lift the combined domestic drilling total three units higher to 782, according to the latest tally from oilfield services provider Baker Hughes Co. (BKR). Land drilling increased by four…

November 18, 2022
ConocoPhillips Standing Firm on Permian Acquisitions Despite Price ‘Volatility’ on Takeaway Constraints

ConocoPhillips Standing Firm on Permian Acquisitions Despite Price ‘Volatility’ on Takeaway Constraints

Management for Houston-based ConocoPhillips during a quarterly earnings call highlighted the independent’s progress as it expanded its LNG activities while achieving record production. CEO Ryan Lance told investors “the world is going to need investments in medium- and long-term production in addition to U.S. shale plays.” ConocoPhillips’ portfolio is “well positioned to meet these long-term…

November 15, 2022
Mexico LNG Projects, Power Plants Lack Clear Path to Natural Gas Access, Experts Say

Mexico LNG Projects, Power Plants Lack Clear Path to Natural Gas Access, Experts Say

Mexico has big plans to become an LNG export powerhouse, but it might not have the pipelines or available capacity to do so, according to experts. “Is there enough capacity and pipelines to support these projects? I don’t think so,” said the head of the Gadex consultancy, Eduardo Prud’homme, on Monday at the LDC Gas…

November 14, 2022
Coterra Ready to ‘Accelerate or Decelerate’ Oil, Natural Gas Development Heading into 2023

Coterra Ready to ‘Accelerate or Decelerate’ Oil, Natural Gas Development Heading into 2023

Flexibility is key to all that Coterra Energy Inc. is planning for the Lower 48 in 2023, as inflationary headwinds drive up the price for things across the board, executives said. Coterra, formed last year with the merger of Cabot Oil & Gas Corp. and Cimarex Energy Co., focuses on producing natural gas and oil…

November 9, 2022
Crescent Point Boosting Spending for ‘Active’ Oil, Gas Drilling in Kaybob Duvernay

Crescent Point Boosting Spending for ‘Active’ Oil, Gas Drilling in Kaybob Duvernay

Calgary-based Crescent Point Energy Corp. recorded a 10% increase in natural gas production during the third quarter, but the company is focusing on the Kaybob Duvernay formation for liquids growth over the next five years. Management said natural gas output hit 144.3 MMcf/d during the quarter, up from 130.8 MMcf/d a year earlier. Natural gas…

November 8, 2022
Natural Gas Drilling Down, Oil Count Up in Latest BKR Tally

Natural Gas Drilling Down, Oil Count Up in Latest BKR Tally

The U.S. natural gas rig count dropped one unit to 155 for the week ended Friday (Nov. 4), while an uptick in oil drilling nudged the combined domestic tally two units higher to 770, according to updated numbers from Baker Hughes Co. (BKR). Domestic land drilling increased by two units for the week, while the…

November 4, 2022
Williston Rig Gains Lead Small Increase in Latest U.S. Drilling Tally

Williston Rig Gains Lead Small Increase in Latest U.S. Drilling Tally

On the strength of gains in the oil patch, including in the Williston Basin, the U.S. rig count rose two units overall to finish the week ended Friday (Nov. 4) at 770, according to the latest tally from Baker Hughes Co. (BKR). Net changes domestically included a three-rig increase in oil-directed drilling, partially offset by…

November 4, 2022
Southwestern Eyes Upping Supply to LNG Corridor, Secures Additional Transport Service

Southwestern Eyes Upping Supply to LNG Corridor, Secures Additional Transport Service

Southwestern Energy Co. said Friday that it was reinforcing its long term flow assurance to U.S. LNG facilities by adding 500 MMcf/d of new firm transportation starting in 2024. The transport to the Gulf Coast liquefied natural gas corridor would be on Momentum Midstream LLC’s 1.7 Bcf/d New Generation Gas Gathering system and DT Midstream…

November 2, 2022
ExxonMobil Stacking Up Natural Gas, Oil Discoveries in Guyana’s Stabroek

ExxonMobil Stacking Up Natural Gas, Oil Discoveries in Guyana’s Stabroek

Two more discoveries have been made in the massive Stabroek Block offshore Guyana, adding to ExxonMobil’s extensive portfolio of opportunities. With the discoveries at the Sailfin-1 and Yarrow-1 wells, more than 30 discoveries have been made in the block since 2015. Offshore development and production has ramped up “at a pace that far exceeds the…

November 2, 2022
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