A coalition of state financial officers, many from resource-rich states and all Republicans, is pushing back against climate change-combating banks that have adopted corporate policies cutting off financing for the coal, oil, and natural gas industries. “These industries – which are engaged in perfectly legal activities – provide jobs, paychecks and benefits to thousands of…
Exploration And Production
Articles from Exploration And Production
Lower 48 E&Ps, Midstreamers Eyeing RSG Label for Natural Gas
More Lower 48 producers and increasingly, midstream operators, are looking to Project Canary to earn environmental certification for their natural gas supplies. Related entities Tug Hill Operating LLC and XcL Midstream Operating LLC, which principally operate in West Virginia’s Marshall and Wetzel counties, have partnered to gain the responsibly sourced gas (RSG) designation across all…
U.S. Drilling Activity Increases as Permian, Haynesville Add Rigs in Latest Baker Tally
The U.S. rig count rose three units to 579 during the week ended Friday (Dec. 17), including upticks in activity in the Permian Basin and the Haynesville Shale, according to the latest tally from oilfield services provider Baker Hughes Co. (BKR). Four oil-directed rigs were added for the week in the United States, partially offset…
Shell Reports Another Deepwater Gusher in GOM Perdido
The plethora of oil and natural gas discoveries in the rich Perdido thrust belt of the deepwater Gulf of Mexico (GOM) has yielded yet another discovery for Royal Dutch Shell plc. Houston-based Shell Offshore Inc. made a “material discovery at the Blacktip North prospect” in U.S. waters. The well encountered about 300 feet net oil…
Baker Reports Oil, Natural Gas Drilling Increases as Latest U.S. Tally Rises
A result of gains in both oil and natural gas-directed drilling, the combined U.S. rig count climbed seven units to 576 for the week ended Friday (Dec. 10), according to updated figures from Baker Hughes Co. (BKR). Four oil-directed rigs and three natural gas-directed units were added in the United States for the week, putting…
Crescent Energy Created in Merger by Lower 48 E&Ps Independence, Contango
Texas-based exploration and production (E&P) firms Independence Energy LLC and Contango Oil & Gas Co. have created Crescent Energy Co. after completing an all-stock transaction. Houston-based Crescent, whose assets are across the Lower 48, had pro forma production of about 119,000 boe/d during 3Q2021. The Independence portfolio spanned the Eagle Ford Shale, Rockies, Permian Basin…
Oil, Gas Execs Looking to Texas, Oklahoma for Top Investments, Eschewing Canada
Policies and regulations in the U.S. oil and natural gas patch, led by Texas, are viewed as substantially more favorable to investment than in Canada, according to the latest survey by the Fraser Institute. The 2021 Canada-US Energy Sector Competitiveness Survey by the Vancouver-based think tank asked 71 senior executives in the petroleum sector to…
Natural Gas, Oil Drilling Totals Steady in United States, Says BKR
The U.S. natural gas rig count went unchanged at 102 during the week ended Friday (Dec. 3), while the oil count also remained steady at 467 to leave the overall domestic tally even for the period at 569, according to the latest figures from Baker Hughes Co. (BKR). The combined 569 active U.S. rigs as…
U.S. Drilling Activity Steady Against Backdrop of Omicron Worries
The domestic oil and gas patch turned in a relatively uneventful week in terms of net changes to drilling activity, according to the latest round of Baker Hughes Co. (BKR) data. Both oil and natural gas rig counts went unchanged overall for the week ended Friday (Dec. 3), holding flat at 467 and 102, respectively.…
North Dakota Gains Lift Latest Baker Count as Oil Activity Climbs
An uptick in North Dakota drilling activity helped send the U.S. rig count six units higher to finish at 569 during the abbreviated pre-Thanksgiving period ended Wednesday (Nov. 24), updated Baker Hughes Co. (BKR) data show. All the net gains for U.S. drilling for the period occurred on land and in the oil patch. Total…