Exploration And Production

U.S. Natural Gas Drilling Count Inches Higher as Permian Expansion Continues

U.S. Natural Gas Drilling Count Inches Higher as Permian Expansion Continues

The U.S. natural gas rig count climbed one unit to 138 for the week ended Friday (April 1), while continued expansion in the Permian Basin helped propel a two-rig increase in the oil patch, according to the latest numbers from Baker Hughes Co. (BKR). The overall U.S. rig count climbed three units to 673 for…

April 1, 2022
Permian E&Ps Not Fooling Around as U.S. Drilling Activity Continues to Rise

Permian E&Ps Not Fooling Around as U.S. Drilling Activity Continues to Rise

Amid continued expansion in the Permian Basin, the U.S. rig count climbed three units overall to reach 673 for the week ended Friday (April 1), according to the latest numbers from Baker Hughes Co. (BKR). Two oil-directed rigs and one natural gas-directed rig were added in the United States for the period, putting the combined…

April 1, 2022
AMLO Gasoline Subsidies Could Negate Oil Price Benefits for Mexico’s Pemex, Says Fitch

AMLO Gasoline Subsidies Could Negate Oil Price Benefits for Mexico’s Pemex, Says Fitch

Mexico President Andrés Manuel López Obrador’s pledge to subsidize gasoline prices could partially negate the windfall of high oil prices for state oil company Petróleos Mexicanos (Pemex), according to new analysis by Fitch Ratings Inc.  Pemex “will benefit from higher oil prices although these pose risks to federal government revenue, since the government has committed…

March 30, 2022
Mexico’s Pemex to Operate Zama Oil Discovery Made By ‘Disappointed’ Talos Energy

Mexico’s Pemex to Operate Zama Oil Discovery Made By ‘Disappointed’ Talos Energy

Mexican state oil company Petróleos Mexicanos (Pemex) will be the operator of the Zama oilfield offshore Mexico, which was discovered in 2017 by a consortium led by Talos Energy Inc. The decision culminates one of several high-profile skirmishes between President Andrés Manuel López Obrador’s government and the private energy sector. Talos said Monday it had…

March 28, 2022
With U.S. Output Flat and War in Ukraine Stoking Fresh Global Supply Worries, Oil Prices Surge

With U.S. Output Flat and War in Ukraine Stoking Fresh Global Supply Worries, Oil Prices Surge

U.S. crude production was flat last week, as it has been throughout 2022, even as the Russia-Ukraine conflict drags on and global supply worries intensify. Output for the week ended March 18 held at 11.6 million b/d, even with the prior week and a month earlier, the U.S. Energy Information Administration (EIA) said Wednesday. American…

March 23, 2022
Schlumberger, Baker Hughes, Halliburton and Weatherford Halt New Russian Investments

Schlumberger, Baker Hughes, Halliburton and Weatherford Halt New Russian Investments

The top global oilfield services companies announced over the weekend that they would suspend their investments in Russia, in another blow to the country’s oil and gas operations. The No. 1 operator, Schlumberger Ltd., was joined by Baker Hughes Co., Halliburton Co. and Weatherford International plc, which separately agreed to cancel new investments. “We have…

March 21, 2022
Will Russia-Ukraine Crisis Prompt Biden Administration Reset for Natural Gas and Oil Policy?

Will Russia-Ukraine Crisis Prompt Biden Administration Reset for Natural Gas and Oil Policy?

The backdrop of the Russia-Ukraine conflict could be an opportune time for the Biden administration to improve the United States’ oil and gas investment climate and bolster domestic energy security, the North Dakota Petroleum Council (NDPC) and other industry organizations told NGI. NDPC’s Brady Pelton, vice president, said that Biden “has not really been a…

March 18, 2022
Small Uptick in Haynesville as U.S. Drilling Activity Steady Overall

Small Uptick in Haynesville as U.S. Drilling Activity Steady Overall

A small uptick in Haynesville Shale activity marked a week of minor adjustments in the U.S. oil and gas patch, with the overall domestic rig count holding flat at 663 for the period ended Friday (March 18), according to updated figures from Baker Hughes Co. (BKR). Increases of two natural gas-directed rigs and one miscellaneous…

March 18, 2022
E.ON Sees Risk for Nord Stream 1 Stakes, but No Plans to Divest

E.ON Sees Risk for Nord Stream 1 Stakes, but No Plans to Divest

German power supplier E.ON SE has indicated its minority stake in one of Europe’s vital routes for Russian natural gas is at risk, but for now, it has no plans to divest. The utility holds a 15.5% stake in Nord Stream AG, a subsidiary of Russian state-owned Gazprom PJSC, which  operates Nord Stream 1 (NS1).…

March 18, 2022
Appalachia on Pace to Lead Lower 48 Natural Gas Output Growth in April, Says EIA

Appalachia on Pace to Lead Lower 48 Natural Gas Output Growth in April, Says EIA

Led by incremental growth in the Appalachian Basin, major Lower 48 drilling regions are set to raise natural gas output by more than 500,000 MMcf/d in April, according to updated modeling from the Energy Information Administration (EIA). Total natural gas production from seven key U.S. regions will grow by 594 MMcf/d month/month to reach an…

March 14, 2022