Exploration And Production

The U.S. natural gas rig count was unchanged at 157 for the week ended Friday (Oct. 21), while oil-directed activity gains helped raise the combined domestic tally two units to 771, according to updated figures from Baker Hughes Co. (BKR). Net changes domestically included a two-rig increase in oil-directed drilling. Total land rigs increased by…

Bolstered by activity gains in the Denver Julesburg (DJ)-Niobrara Basin, the U.S. rig count rose two units to reach 771 for the week ended Friday (Oct. 21), according to the latest tally from oilfield services provider Baker Hughes Co. (BKR). Net changes domestically included a two-rig increase in oil-directed drilling, with natural gas-directed drilling unchanged…

Natural gas and oil industry bellwether Schlumberger Ltd. has boosted capital spending for 2022 after posting better-than-expected results in the third quarter. The world’s largest oilfield services company issued its quarterly report on Friday, posting the highest profits in seven years as North America and international drilling climbed from ayear ago. CEO Olivier Le Peuch…

BP plc’s Orlando Alvarez, head of gas and power trading in the Americas, sees natural gas and other energy markets heading further into “unprecedented times” of market volatility and regulatory uncertainty, but those changes don’t all have to be challenges for the industry. During a keynote address at LDC Gas Forums’ Gulf Coast Energy Forum…

OPEC is forecasting full-year liquid hydrocarbons production of 2.0 million b/d for Mexico in 2022, flat versus 2021, followed by a slight decline in 2023.  Incremental production in 2022 “is expected to be driven by foreign-operated fields, while minor growth” is also expected in Petróleos Mexicanos (Pemex) operated fields, OPEC said in its latest Monthly…

Mexico needs to focus on ensuring it has adequate energy supplies to meet demand and should try to develop its rich natural gas resources, said Fernando Cruz, Mexico Director of Scotland-based Dolphin Drilling. Cruz added, “I think we must understand that energy security is more important than sovereignty. And as we know, energy security implies…

Driven by gains in the oil patch, the U.S. rig count jumped seven units higher to 769 for the week ended Friday (Oct. 14), according to the latest tally from oilfield services provider Baker Hughes Co. (BKR). Changes domestically included an eight-rig increase in oil-directed rigs, partially offset by a one-rig decline in natural gas-directed…

Private sector producers in Mexico reported record oil volumes of 106,120 b/d in August, up from 63,414 b/d a year earlier, according to upstream regulator Comisión Nacional de Hidrocarburos (CNH). Three private sector-operated shallow water fields – all of which were awarded through the Round 1.2 bidding process in 2015 – reported record oil production…

Despite recent action by the UK government to encourage unconventional natural gas extraction in England, a lasting domestic shale industry would need a dedicated supply chain and reliable support through changing political winds, according to prominent energy prognosticators. “I would just be shocked if anything could happen,” RBN Energy LLC CEO Rusty Braziel said last…