Lower 48

One Natural Gas Rig Added in U.S. as Oil Patch Paces Growth in Domestic Drilling Activity

One Natural Gas Rig Added in U.S. as Oil Patch Paces Growth in Domestic Drilling Activity

The U.S. natural gas rig count increased one unit to 94 during the week ended Friday (April 16) as gains in the oil patch paced a week of healthy growth in domestic drilling activity, according to the latest data from Baker Hughes Co. (BKR).  Along with the addition of one gas rig, an increase of…

April 16, 2021
U.S. Rig Count Down One Amid Small Declines in Marcellus, Haynesville

U.S. Rig Count Down One Amid Small Declines in Marcellus, Haynesville

The U.S. rig count eased one unit lower to 402 for the week ending Friday (March 12) as increases in the Permian Basin and Utica Shale partially offset declines in the Marcellus and Haynesville shales, according to updated data from Baker Hughes Co. (BKR). The total number of domestic natural gas-directed rigs remained unchanged at…

March 12, 2021
U.S. Natural Gas Rig Count Flat; Small Gain for Oil Patch

U.S. Natural Gas Rig Count Flat; Small Gain for Oil Patch

The U.S. natural gas rig count finished unchanged at 92 for the week ending Friday (March 5), while gains in the Permian Basin offset declines in the Gulf of Mexico to push the overall domestic count slightly higher, according to the latest figures from Baker Hughes Co. (BKR). Including a net increase of one oil-directed…

March 5, 2021
Northern Oil Builds Permian Portfolio, Expects ‘Steady Improvements’ to Natural Gas Realizations

Northern Oil Builds Permian Portfolio, Expects ‘Steady Improvements’ to Natural Gas Realizations

Minnetonka, MN-based independent Northern Oil and Gas Inc. is looking to expand its Lower 48 oil and natural gas production this year after a slew of dealmaking in the final three months of 2020, including four transactions in the Permian Basin. Management said in an update on activity that it saw “steady and continued improvement…

January 8, 2021
Slowdown in Oil Patch Sees U.S. Rig Count Ease Lower

Slowdown in Oil Patch Sees U.S. Rig Count Ease Lower

Driven by declines in the oil patch, the U.S. rig count fell two units to 310 for the week ending Friday (Nov. 20), according to the latest numbers from Baker Hughes Co. (BKR). After a five-rig decrease in oil-directed drilling, partially offset by the addition of three natural gas-directed rigs, the overall domestic tally finished…

November 20, 2020
U.S. E&P Sector Slammed for Excessive Executive Compensation, Lack of Oversight

U.S. E&P Sector Slammed for Excessive Executive Compensation, Lack of Oversight

Upstream investor Kimmeridge Energy Management Co. LLC has the U.S. exploration sector in its sights and is calling out the industry for its “lack of alignment” between the executive management teams and their shareholders. The New York City-based private equity (PE) firm said in a white paper that executive compensation for the exploration and production…

November 19, 2020
Oil Leads U.S. Count to Fourth Straight Gain; One Natural Gas Rig Exits

Oil Leads U.S. Count to Fourth Straight Gain; One Natural Gas Rig Exits

The U.S. natural gas rig count fell one unit to finish at 73 for the week ending Friday (Oct. 9), while a rise in oil drilling kept the combined domestic tally on a modest upward trajectory from recent pandemic-induced lows, the latest numbers from Baker Hughes Co. (BKR) show. With a four-rig increase in oil-directed…

October 9, 2020
Natural Gas Rigs Down, but Overall U.S. Count Sees First Post-Covid Increase

Natural Gas Rigs Down, but Overall U.S. Count Sees First Post-Covid Increase

The U.S. natural gas rig count fell one unit to 69 during the week ending Friday (Aug. 21), a small decline overshadowed by a decisive uptick in oil-directed activity, the latest data from Baker Hughes Co. (BKR) show. For the first time since the widespread adoption of measures to limit the spread of Covid-19 began…

August 21, 2020
In Victory for Lower 48 Pipelines, U.S. Supreme Court Reinstates Key Water-Crossing Permits

In Victory for Lower 48 Pipelines, U.S. Supreme Court Reinstates Key Water-Crossing Permits

The U.S. Supreme Court on Monday issued a unanimous order reinstating the use of a permit employed to fast-track oil and gas pipeline construction, but the ruling specified that it did not apply to the U.S. leg of the hotly contested Keystone XL crude oil pipeline that is at the center of the debate. The…

July 7, 2020
Despite Headwinds, Summer Heat Props Up Weekly Natural Gas Prices

Despite Headwinds, Summer Heat Props Up Weekly Natural Gas Prices

Newly intensified coronavirus outbreaks threatened energy demand, but rising summer temperatures across much of the Lower 48 boosted cash prices for the June 22-26 period. NGI’s Weekly Spot Gas National Avg. for the June 22-26 period climbed 9.5 cents to $1.520. Stronger summer conditions took hold during the week – following a relatively mild stretch…

June 26, 2020
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