Lower 48

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
Noble Energy Expects Rising Summer Natural Gas Demand in Eastern Med, but Shut-ins, DUCs in Lower 48

Noble Energy Expects Rising Summer Natural Gas Demand in Eastern Med, but Shut-ins, DUCs in Lower 48

Super independent Noble Energy Inc., whose vast U.S. portfolio extends across Texas and Colorado, plans to move cautiously through the year in the Lower 48 by shutting in wells and clawing back activity, while it works to build natural gas infrastructure overseas.

May 8, 2020

E&P Capital Discipline Pressuring Lower 48 Oil, Gas Permitting

The capital discipline instilled by many exploration and production (E&P) companies has put the squeeze on permitting in the Lower 48, with a “more opaque outlook” expected in the near term, according to Evercore ISI.

May 15, 2019
EIA Says U.S. Natural Gas Storage Capacity Increases 1% in 2017

EIA Says U.S. Natural Gas Storage Capacity Increases 1% in 2017

Underground natural gas storage capacity in the Lower 48 grew by less than 1% year/year to November 2017, with most of the new capacity coming from expansions made to facilities in the East storage region, according to the U.S. Energy Information Administration (EIA).

April 5, 2018
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