Exploration And Production

Pipeline flows of natural gas from Norway have helped the European Union maintain a tight supply balance, along with demand cuts and record LNG imports, but the country’s oil and gas authority reports that most of the discovered reserves remain untapped. In an updated survey of the natural gas discoveries, the Norwegian Petroleum Directorate (NPD)…

Libertarian Javier Milei swept to victory in Argentina’s presidential elections last month promising drastic change and a radically new way of doing business in the country. The 53-year-old outsider has since vowed to privatize state oil and natural gas firm YPF SA. “Everything that can be placed into the hands of the private sector, will…

Pipeline imports from the United States are accounting for a growing share of Mexico’s natural gas supply this year as volumes provided by Mexican production decline, new data show.  Mexico’s natural gas production averaged 4.34 Bcf/d year-to-date through October, up from a full-year average of 4.09 Bcf/d in 2022, according to the latest figures from…

A more favorable commodities market for oil and gas prices often has led to more U.S. drilling activity, but producers into 2024 may face volatility and less-than-enthusiastic lenders, according to a new survey by Haynes and Boone LLP. The law firm’s semi-annual Borrowing Base Redeterminations Survey found that exploration and production (E&P) companies may not…

The U.S. natural gas rig count eased one unit lower to 117 for the week ending Friday (Oct. 27), while a modest bump in oil drilling lifted the combined domestic tally one unit overall to 625, according to the latest numbers published by Baker Hughes Co. (BKR). Land drilling increased by one unit for the…

Appalachian-focused Range Resources Corp. plans to maintain natural gas and natural gas liquids (NGL) production into next year using hedging and efficiencies to capture the forecast surge in demand as Gulf Coast LNG export facilities start up next year. The management team held a conference call to discuss the latest results and the expected growing…

The U.S. natural gas rig count fell one unit to 117 for the week ended Friday (Oct. 13), while the addition of four rigs in the oil patch lifted the combined domestic tally three units overall to 622, according to the latest figures from Baker Hughes Co. (BKR). Land drilling increased by two in the…

The U.S. natural gas rig count climbed two units to 118 for the week ending Friday (Oct. 6), while a pullback in oil-directed drilling lowered total domestic rigs by four to 619, according to the latest tally from Baker Hughes Co. (BKR). The U.S. oil rig count fell by five to 497 for the period,…

ExxonMobil is signaling it will post stronger results during the third quarter because of higher commodity prices, while rival Shell plc also is expecting rebounding profits but lower LNG output because of scheduled maintenance. In Form 8-K filings with the U.S. Securities and Exchange Commission, the integrated majors outlined their projections for the third quarter,…