Exploration

An uptick in global offshore development, combined with expansion of natural gas opportunities overseas, bode well for SLB Ltd. to improve activity in 2023, CEO Olivier Le Peuch said Friday.  All signs point in a positive direction, Le Peuch said, after the world’s No. 1 oilfield services (OFS) operator closed out a “remarkable year.” He…

Minerals firm Sitio Royalties Corp. closed the books on a successful merger with Brigham Minerals Inc., combining “two of the largest public companies in the mineral and royalty sector,” the companies said. The $4.8 billion all-stock transaction has added 15,000 boe/d of oil-weighted pro forma production to Denver-based Sitio’s portfolio, which now stands at about…

On the strength of gains in the oil patch, including in the Williston Basin, the U.S. rig count rose two units overall to finish the week ended Friday (Nov. 4) at 770, according to the latest tally from Baker Hughes Co. (BKR). Net changes domestically included a three-rig increase in oil-directed drilling, partially offset by…

The U.S. natural gas rig count was unchanged at 157 for the week ended Friday (Oct. 21), while oil-directed activity gains helped raise the combined domestic tally two units to 771, according to updated figures from Baker Hughes Co. (BKR). Net changes domestically included a two-rig increase in oil-directed drilling. Total land rigs increased by…

Oil and natural gas permitting climbed in September from August by 26% and rose nearly 60% from a year ago, ending the third quarter on a positive note, according to Evercore ISI. Analysts said there were 809 more requests to drill in September month/month (m/m). The Permian Basin led the way, rebounding by 47% from…

The U.S. natural gas rig count fell four units to 162 for the week ended Friday (Sept. 16), while an eight-rig increase in oil-directed drilling lifted the combined domestic tally four units higher to 763, according to updated figures from Baker Hughes Co. (BKR). The 763 active U.S. rigs as of Friday compares with 512…

Private equity-backed Canes Midstream LLC said Wednesday it has closed on its acquisition of Permian Basin midstream firm Cogent Midstream LLC. Located in the southern portion of the Permian’s Midland sub-basin, the Cogent assets include 520 MMcf/d of natural gas processing capacity, over 800 miles of pipelines, 42 compressor stations, a crude oil gathering system,…

Natural gas production in Mexico averaged 4.05 Bcf/d in March, up from 3.84 Bcf/d in the same month a year ago. State oil company Petróleos Mexicanos (Pemex) supplied 3.81 Bcf/d of the total, versus 3.64 Bcf/d in March 2021, according to the latest data from upstream regulator Comisión Nacional de Hidrocarburos (CNH) Production by private…

“Among the majors, there’s definitely a disillusionment and disappointment for how things are evolving in the sector, which wasn’t what many expected” when they invested in Mexico, said Alfredo García, managing director at Siete Energy and 31-year veteran in oil and gas exploration and development services.  “I think the reasons for inactivity or abandoned projects…