Exploration And Production

The U.S. natural gas rig count added one unit to finish at 92 for the week ending Friday (Feb. 26), helping to extend an uptrend in domestic drilling led by gains in the oil patch, the latest figures from Baker Hughes Co. (BKR) show. Along with the one gas-directed unit, four oil-directed rigs were added…

Oil production from the vaunted Vaca Muerta shale deposit in the Neuquén basin in Western Argentina has come roaring back after months of slower exploration and production activity. Vaca Muerta reached a record high of 124,000 b/d in December, and it can continue toward 145,000–150,000 by the end of 2021 if current activity levels continue,…

Natural gas flaring from the Texas portion of the Permian Basin is likely to increase in the coming years but the industry may be able to eliminate most of the routine emissions at little cost, according to a new analysis. The Rystad Energy analysis, commissioned by the Environmental Defense Fund, found that the flaring is…

The U.S. rig count increased five units to 378 for the week ending Friday (Jan. 22), with gains distributed across both oil- and natural gas-focused drilling, according to the latest figures from oilfield services provider Baker Hughes Co. (BKR). The United States saw a net increase of three natural gas-directed rigs, along with two oil-directed…

A surge in oil-directed drilling led by the Permian Basin sent the U.S. rig count 13 units higher to 373 for the week ending Friday (Jan. 15), according to data published by Baker Hughes Co. (BKR). The latest BKR numbers, which are based on data provided in part by Enverus, showed an increase of 12…

After a relatively solid run, U.S. natural gas dealmaking in 2020 slumped sharply, as oil deals, nearly all revolving around the Permian Basin, took off, according to Enverus. The consultancy reported the findings in its summary of top domestic upstream mergers and acquisitions (M&A) by exploration and production (E&P) companies for the fourth quarter and…

ConocoPhillips on Tuesday announced a new oil find offshore Norway that it estimated could generate between 75 million and 200 million recoverable boe. It marked the second “significant” discovery in the region in as many months, the company said, building upon earlier successes near Norway. The latest discovery well was drilled in 1,165 feet of…

Extending a downtrend that began early in 2020, natural gas production from seven major U.S. producing regions is set to continue declining in the first month of 2021, according to updated projections from the Energy Information Administration (EIA). Gas production from the Anadarko, Appalachian and Permian basins, as well as from the Bakken, Eagle Ford,…

Notable increases in both oil and natural gas drilling sent the U.S. rig count surging 15 units higher to 338 during the week ending Friday (Dec. 11), according to figures from oilfield services provider Baker Hughes Co. (BKR). The United States added 12 oil-directed rigs along with four natural gas-directed, partially offset by a decline…