Exploration And Production

The U.S. natural gas rig count eased two units lower to 116 for the week ending Friday (Sept. 29), while declines in the oily Permian Basin sent the combined domestic tally tumbling seven units overall to 623, according to the latest count from Baker Hughes Co. (BKR). Oil-directed drilling declined by five in the United…

As the U.S. Congress nears the Oct. 1 deadline to agree on spending legislation, some oil and natural gas industry representatives fear a federal government shutdown would have serious implications for leasing.  Congress has until midnight on Saturday to approve a package of 12 bills needed to fund the government. Eight Republican lawmakers have repeatedly…

Regulators in Mexico approved a modified development plan submitted by state oil company Petróleos Mexicanos (Pemex) for the Maloob shallow water field. Pemex expects capital expenditures (capex) to total $9.8 billion between 2023 and 2034 at Maloob, which is part of the Ku-Maloob-Zaap complex. Operating expenditures are expected to reach $4.36 billion, bringing total investment…

The U.S. rig count nudged one unit higher to finish at 632 for the week ended Friday (Sept. 8), though natural gas drilling activity eased lower for the period, according to the latest tally from Baker Hughes Co. (BKR). Total domestic natural gas-directed rigs finished at 113, down one week/week, while oil-directed rigs increased by…

Crescent Energy Co. is expanding its Eagle Ford Shale footprint in South Texas with a $250 million cash acquisition, management said. The Houston-based independent is purchasing incremental working interest in its operated Western Eagle Ford assets.  The transaction follows a recent $600 million acquisition of operatorship in the assets that was completed in July. That…

Investment firm Peak 10 Energy Holdings LP made its inaugural acquisition of assets in the Permian Basin’s Eastern Shelf, expanding its position as it snaps up and works with operators to develop Lower 48 oil and natural gas assets. The private equity (PE)-backed company made its inaugural purchase of acreage in Fisher and Scurry counties,…

Mexico’s upstream regulator Comisión Nacional de Hidrocarburos (CNH) has approved the development plan for the Trion ultra-deepwater oil and gas project planned by Australia’s Woodside Energy Group Ltd. and Mexican state oil company Petróleos Mexicanos (Pemex) in the Gulf of Mexico (GOM). The plan calls for capital expenditures of $7.2 billion, with first oil targeted…

Mexico’s natural gas production averaged 4.30 Bcf/d in July, compared to 4.35 Bcf/d in June and 4.10 Bcf/d in July 2022. State oil company Petróleos Mexicanos (Pemex) supplied 4.07 Bcf/d of the total, compared to 3.86 Bcf/d in the year-ago month, data from upstream regulator Comisión Nacional de Hidrocarburos (CNH) show. Private sector operators produced…

U.S. upstream activity continued to slow during the week ended Friday (Aug. 25) as total active domestic rigs fell by 10 to 632, largely driven by declines in oil-directed drilling, the latest figures from Baker Hughes Co. (BKR) show. Changes in the United States for the period included a decline of eight oil-directed rigs, alongside…