natural gas production

With two big transactions completed in a matter of months, Pioneer Natural Resources Co. has become the largest producer in the Permian Basin and should produce up to 700,000 boe/d-plus in 2022, CEO Scott Sheffield said Wednesday. The Dallas-based independent this week completed a $6.4 billion purchase of privately held West Texas competitor DoublePoint Energy…

After fetching $4.61/Mcf for its Permian Basin natural gas in the first quarter, APA Corp. is stepping up its activity in some prospects and extending its exploration in Texas, executives said Thursday. The gassy Alpine High development in the Permian Delaware sub-basin of West Texas had been the Houston-based explorer’s No. 1 global play. As…

Haynesville Shale giant Comstock Resources Inc. should see “moderate” production growth this year as market conditions improve, executives said Wednesday during a first quarter earnings call. The Frisco, TX-based independent has 323,000 net acres in the Haynesville/Bossier formations across East Texas and North Louisiana, one of the gassiest regions of the country. Production this year…

EQT Corp. agreed Thursday to acquire Alta Resources Development LLC in a $2.9 billion deal that would add another 300,000 net Marcellus Shale acres and give it entry into Northeast Pennsylvania.  The nation’s largest natural gas producer said the acquisition would push its volumes to 5.6 Bcfe/d from 4.6 Bcfe/d. Once completed, the company would…

Tapping liquids-rich Canadian unconventional natural gas and a continent-wide marketing program paid off for Tourmaline Oil Corp. in the first three months of this year. As the top natural gas producer drilling only in Canada, the Calgary explorer scored a 30% gain to 1.91 Bcf/d in the quarter from 1.47 Bcf/d a year earlier. Liquids…

Improved prices for increased oil, natural gas and liquids volumes, achieved in part on corporate takeovers, fueled a return to profitability by Canadian producer Whitecap Resources Inc. in the first three months of this year. Whitecap oil production volumes grew year/year to 64,795 b/d from 56,631 b/d, with natural gas volumes hitting 129 MMcf/d from…

Mexico’s president Andrés Manuel López Obrador cited oil production, hydroelectricity and a tree-planting program as pillars of his country’s climate strategy during the Leaders Summit on Climate organized by the White House. In contrast to his fellow world leaders, López Obrador made no mention of specific emissions targets, nor did he mention wind and solar…

Natural gas futures continued riding high in early trading Wednesday, adding to their recent gains as analysts noted continued tightness in the supply/demand balance. The expiring May Nymex contract was up 3.7 cents to $2.910/MMBtu at around 8:45 a.m. ET. June was up 3.5 cents to $2.977. The May contract surged 8.3 cents in Tuesday’s…

Estimates showing a day/day drop in production helped natural gas futures extend their recent gains in early trading Tuesday. After picking up 6.0 cents in the previous session, the May Nymex contract was up 3.0 cents to $2.820/MMBtu at around 8:45 a.m. ET. The latest daily production estimate from Wood Mackenzie Tuesday showed a 2.4…