Fall

June natural gas forward prices fell an average 8 cents from April 28 to May 2 as bearish near-term weather and producer selling pressured the markets, according to NGI Forward Look.

Fall redetermination season for U.S. exploration and production (E&P) companies is about to begin, with lenders more optimistic about borrowing levels, while exploration and production (E&P) companies appearing to accept that low commodity prices may be sustained.

Baker Hughes Inc. executives on Friday said the total U.S. rig count should fall on average by 8% this year from 2012, but with better drilling efficiencies, the onshore well count may only decline by 4% to around 35,000.

Oilfield services giant Nabors Industries Ltd. last week warned that operating results for the second quarter will fall below consensus estimates because of a “pronounced” shortfall in the pressure pumping and top drive completion service lines.

Oilfield services giant Nabors Industries Ltd. on Tuesday warned that operating results for the second quarter will fall below consensus estimates because of a “pronounced” shortfall in the pressure pumping and top drive completion service lines.

Onshore drilling efficiencies in domestic shale gas plays continue to increase, per-unit costs continue to fall, and together, they given a big boost to operators’ proven reserves, by one calculation.

Onshore drilling efficiencies in domestic shale gas plays continue to increase, per-unit costs continue to fall, and together, they given a big boost to operators’ proven reserves, by one calculation.

Low natural gas prices didn’t deter U.S. operators from boosting upstream spending in 2012, according to data compiled by Ernst & Young.

Following an unsuccessful open season, Kinder Morgan Energy Partners LP (KMP) has shelved plans for the Freedom Pipeline, which would have carried Permian Basin crude oil from Texas to California refineries.