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Gom

Helicopter Crashes in GOM with Four Aboard

Helicopter Crashes in GOM with Four Aboard

The U.S. Coast Guard (USCG) paused its search late Thursday for three Walter Oil & Gas Corp. platform workers and a pilot after a helicopter crashed 10 miles off the coast of Southwest Pass, LA, in the Gulf of Mexico (GOM). The USCG’s Eighth District, headquartered in New Orleans, conducted a search for about eight…

December 30, 2022
Natural Gas Drilling Flat in Latest BKR Count; Permian, GOM Totals Climb

Natural Gas Drilling Flat in Latest BKR Count; Permian, GOM Totals Climb

The U.S. natural gas rig count finished unchanged at 155 for the week ended Nov. 11, while gains in the Gulf of Mexico (GOM) and in the Permian Basin helped drive the combined domestic tally nine units higher to 779, according to updated numbers published Friday by Baker Hughes Co. (BKR). Oil-directed drilling accounted for…

November 14, 2022
Halliburton ‘Very Encouraged’ About 2023 North American Oilfield Services Outlook

Halliburton ‘Very Encouraged’ About 2023 North American Oilfield Services Outlook

International natural gas and oil market activity is accelerating, and North American service capacity is tightening, with pricing “moving up in both markets,” Halliburton Co. CEO Jeff Miller said Tuesday. Miller helmed a conference call with analysts to discuss third quarter results, noting the Houston-based oilfield services (OFS) giant is using the technology honed in…

October 31, 2022
Natural Gas Forward Prices Plummet as Supply Growth Seen Improving Storage Outlook

Natural Gas Forward Prices Plummet as Supply Growth Seen Improving Storage Outlook

Dragged lower by an upward swing in production, moderating weather and an ongoing curtailment of feed gas deliveries to the Freeport LNG facility, natural gas forward prices crumbled during the trading period from Sept. 15 to Sept. 21. Steep declines of more than 70 cents extended from the October contract through the winter season (November-March),…

September 23, 2022
Biden Administration Calling for Another Do-Over of Post-Macondo Offshore Safety Rules

Biden Administration Calling for Another Do-Over of Post-Macondo Offshore Safety Rules

President Biden is moving to reinstate the post-Macondo offshore safety rules enacted by the Obama administration, which were partly undone by the Trump administration. BP plc’s deepwater Macondo well explosion in 2010 killed 11 men, destroyed the Deep Horizon drilling rig and led to the largest oil spill in U.S. history. An extensive investigation by…

September 16, 2022
Talos CEO Touts IRA Legislation’s Positives to Advance CCS, Upstream Oil and Gas

Talos CEO Touts IRA Legislation’s Positives to Advance CCS, Upstream Oil and Gas

Houston-based Talos Energy Inc., a major explorer in the Gulf of Mexico (GOM), expects to garner “several favorable provisions” from the Democrats’ Inflation Reduction Act (IRA), which would benefit the upstream business and the low-carbon ventures underway, CEO Timothy S. Duncan said. The independent issued its 2Q2022 results earlier this month, followed by a conference…

August 16, 2022
Natural Gas Forwards Pull Back, but Freeport LNG Timeline Emboldens Bulls

Natural Gas Forwards Pull Back, but Freeport LNG Timeline Emboldens Bulls

A down-then-up stretch in the futures market saw natural gas forwards pull back slightly at most Lower 48 hubs during the Aug. 4-10 trading period, although several western hubs enjoyed basis strengthening on upcoming heat, NGI’s Forward Look data showed. Prices for September delivery at benchmark Henry Hub ended the period at $8.203/MMBtu, a 6.4-cent…

August 12, 2022
Chevron Permian Drilling, Fracturing Efficiency Doubled in Four Years, Says Exec

Chevron Permian Drilling, Fracturing Efficiency Doubled in Four Years, Says Exec

The Permian Basin is driving U.S. oil and gas production growth for Chevron Corp., helped by low development costs, substantial efficiency improvements and low carbon intensity, management said Friday. CFO Pierre Breber and Executive Vice President of Upstream Jay Johnson hosted a conference call to discuss the San Ramon, CA-based major’s second quarter earnings.  Amid…

July 29, 2022
GOM Natural Gas Production Seen Falling for Fourth Straight Year in 2023

GOM Natural Gas Production Seen Falling for Fourth Straight Year in 2023

Natural gas production in the U.S. Gulf of Mexico (GOM) is expected to decline for a fourth straight year in 2023, according to Energy Information Administration (EIA) analysts. GOM gas output is forecast to average 2.1 Bcf/d in 2023, down 0.1 Bcf/d from the expected total in 2022, said EIA analysts James Easton, Kirby Lawrence…

June 24, 2022
Oxy Prepared for Volatile Year, but Some Oil, Gas Producers Not So Lucky, Says Hollub

Oxy Prepared for Volatile Year, but Some Oil, Gas Producers Not So Lucky, Says Hollub

U.S. oil and gas producers that weren’t prepared to get down to business as prices rose may be out of luck, Occidental Petroleum Corp. CEO Vicki Hollub said Wednesday. Hollub helmed a first quarter conference call, joined by CFO Robert Peterson and Richard Jackson, president of U.S. Onshore Resources and Carbon Management. They shared with…

May 13, 2022
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