Led by growth in the gassy Haynesville Shale, the U.S. natural gas rig count climbed six units to 124 for the week ended Friday (Feb. 18), according to the latest tally from oilfield services provider Baker Hughes Co. (BKR). The natural gas drilling gains helped drive a second straight week of double-digit growth for BKR’s…
Exploration And Production
Articles from Exploration And Production
Continental Execs Tout Multi-Basin Approach, Production Restraint Amid High Oil and Gas Prices
Continental Resources Inc.’s recent expansions into the Powder River and Permian basins have given it the inventory and optionality needed to capitalize on strong oil and natural gas prices, management said. In a conference call to discuss fourth quarter and full-year 2021 earnings, CEO Bill Berry said that “as an unhedged oil producer, we were…
BP, Equinor Pull Out of Mexico Deepwater Block
Mexican upstream regulator Comisión Nacional de Hidrocarburos (CNH) has given the green light for the local subsidiaries of European energy giants BP plc and Equinor ASA to pull out of their participation in a deepwater block offshore Veracruz and Tabasco states. The Mexico branch of France’s TotalEnergies SE will now assume control of the Salina…
Oil Demand Possibly at Record Levels in 2022, IEA Says
Oil consumption could surge more than previously expected and reach record levels this year, a global energy watchdog said, as restrictions to combat the coronavirus ease faster than anticipated, global economic growth mounts and pent-up travel demand unfurls. The International Energy Agency (IEA), in its monthly oil outlook report on Friday, projected global oil demand…
Domestic Natural Gas Drilling Tally Climbs to 115 Amid Gains in Haynesville, Marcellus
Including increases in the Marcellus and Haynesville shales, the U.S. natural gas rig count rose two units to 115 during the week ended Friday (Jan. 28), according to the latest count from oilfield services provider Baker Hughes Co. (BKR). Domestic oil-directed drilling increased by four rigs for the period, lifting the combined domestic tally to…
Court Cites Flawed Emissions Analysis in Rejecting Federal Offshore Oil, Natural Gas Auction
A U.S. district court on Thursday vacated the results from last November’s oil and natural gas auction in the Gulf of Mexico (GOM), citing an outdated emissions analysis by the Trump administration. In the ruling, considered a major victory for environmental groups, U.S. District Judge Rudolph Contreras of the District of Columbia invalidated Lease Sale…
Mexico Natural Gas, Oil Output Flat in 2021 as U.S. Imports Surge
Mexico reported essentially flat growth in natural gas and oil production in 2021 as gas imports from the United States continued to surge. Mexico’s gas output averaged 3.85 Bcf/d for the full year, versus 3.84 Bcf/d in 2020, according to data from upstream regulator Comisión Nacional de Hidrocarburos (CNH). State oil company Petróleos Mexicanos (Pemex)…
Idle Oil, Natural Gas Wells Said to Need Proper Monitoring, Maintenance
The Interstate Oil and Gas Compact Commission (IOGCC) recently released its latest counts of documented idle and orphan oil and gas wells in the United States and Canada. “Many idle wells have potential for future oil or gas production or associated uses,” stated IOGCC. “If not properly monitored and maintained, however, they may pose a…
Natural Gas Drilling on the Rise in U.S. on Marcellus, Haynesville Growth, Baker Says
The U.S. natural gas rig count climbed four units to 113 for the week ended Friday (Jan. 21), while domestic oil drilling saw a small decline for the period, according to updated figures from Baker Hughes Co. (BKR). Including a one-rig decline in oil-directed drilling, the combined U.S. count finished the week at 604, 226…
Natural Gas Drilling Drives U.S. Upstream Activity Growth in Latest Baker Tally
An uptick in natural gas-directed drilling activity, including in the Marcellus and Haynesville shales, lifted the combined U.S. rig count three units overall to 604 for the week ended Friday (Jan. 21), according to the latest tally from oilfield services provider Baker Hughes Co. (BKR). A four-rig increase in natural gas-directed drilling offset a one-rig…