Lower 48

October Natural Gas Futures Skyrocket Ahead of Expiration, Reach New 2021 High

October Natural Gas Futures Skyrocket Ahead of Expiration, Reach New 2021 High

Natural gas futures sailed higher on Monday, rallying for a third straight session ahead of prompt month expiration and amid a potential global energy supply crunch. The October Nymex contract spiked 56.6 cents day/day and settled at $5.706/MMBtu. October rolls off the board as the prompt month at the close of trading Tuesday. November jumped…

September 27, 2021
FERC, NERC Inquiry into February Freeze Spotlights Natural Gas Failures

FERC, NERC Inquiry into February Freeze Spotlights Natural Gas Failures

Natural gas-fired electric generators made up a majority of the failures identified by FERC during an inquiry into the extreme cold weather that rattled power markets in Texas and the Midwest in February. The Federal Energy Regulatory Commission, in a joint effort with the North American Electric Reliability Corp. (NERC), found freezing generator components and…

September 23, 2021
Lower 48 E&Ps in Turf War as Efficiencies, Low Costs Rule

Lower 48 E&Ps in Turf War as Efficiencies, Low Costs Rule

The battle to become a top oil and natural gas producer is no longer being waged by Jett Rink-like roustabouts toiling in the sun off of caliche roads in West Texas, but rather by algorithm experts sitting in darkened, air-conditioned offices in Houston. Exploration and production (E&P) companies looking for the edge to elevate their…

July 19, 2021
U.S. Oil, Natural Gas M&A on Torrid Pace in 2Q, while Canada Led International Dealmaking

U.S. Oil, Natural Gas M&A on Torrid Pace in 2Q, while Canada Led International Dealmaking

After a cold start to the year, North American upstream merger and acquisition (M&A) activity heated up in the second quarter, with U.S. dealmaking alone hitting more than 40 deals valued at around $33 billion. Energy data analytics expert Enverus on Monday issued its 2Q2021 report on U.S. exploration and production (E&P) activity. Finbrook Pte…

July 12, 2021
Natural Gas Rig Count Up as Overall U.S. Activity Flat in Latest Tally

Natural Gas Rig Count Up as Overall U.S. Activity Flat in Latest Tally

The U.S. natural gas rig count climbed one unit to finish at 98 for the week ended Friday (June 25), while a small decline in oil rigs left the overall domestic tally flat for the period, according to data from Baker Hughes Co. (BKR). One oil-directed rig exited the patch in the United States during…

July 2, 2021
U.S. Adds One Natural Gas Rig as Numbers Rising in Oil Patch

U.S. Adds One Natural Gas Rig as Numbers Rising in Oil Patch

The U.S. natural gas rig count increased one unit to 97 for the week ended Friday (June 18), while a surge in oil-directed drilling lifted the combined domestic tally to 470 for the period, according to the latest figures from Baker Hughes Co. (BKR). The United States added nine rigs overall for the week, including…

June 18, 2021
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