Gas

The U.S. natural gas rig count rose two units to 102 for the week ended Friday (Nov. 12) as gains both on land and offshore headlined continued gains in domestic drilling activity for the period, the latest Baker Hughes Co. (BKR) data show. Four oil-directed rigs were also added in the United States for the…

The U.S. rig count continued to nudge higher during the week ending Friday (Feb. 12), adding five units to end at 397 on growth in oil-directed drilling, according to the latest figures from Baker Hughes Co. (BKR). A seven-rig increase in oil-directed drilling offset a two-rig decline in natural gas-directed rigs, leaving the combined domestic…

The world’s leading natural gas and oil producers on Thursday set an even bigger target to reduce more carbon from their upstream operations over the next five years. The Oil and Gas Climate Initiative (OGCI), led by the CEOs of the largest producers in the world, said the higher targets to lower the carbon dioxide…

Latin America oil and natural gas companies will cut close to $8.3 billion in capital expenditures (capex) in 2020, or about 30% from original guidance for the year, according to Moody’s Investors Service. Brazilian national oil firm Petróleo Brasileiro SA, or Petrobras, Colombian state firm Ecopetrol SA and Mexico’s national oil company Petroleos Mexicanos (Pemex)…

Mexico’s Energy Ministry (Sener) has ordered the unification of the Zama discovery offshore Mexico and has given Houston-based exploration and production company Talos Energy Inc. and Mexican state company Petróleos Mexicanos (Pemex) 120 days to come up with terms of how to carry out joint development of the field. In May, Mexico upstream regulator Comisión…

After curtailing output by 70% in May in response to a pandemic-driven market downturn, Continental Resources Inc. said Thursday it would bring some production back in July, although about 50% of output is to remain offline.

Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process.

After finishing flat a day earlier, Natural gas futures mustered new momentum on Friday, ending the week in positive territory as mid-range forecasts for more heat outshined persistently weak demand for liquefied natural gas (LNG) amid fallout from the coronavirus pandemic.

Rains and relatively mild temperatures across much of the eastern half of the Lower 48, along with festering fallout from the coronavirus pandemic, curbed weekly spot gas prices for the June 15-19 period.