natural gas production

The Abu Dhabi National Oil Co. (Adnoc) has signed long-term sales agreements to supply two of the United Arab Emirates’ (UAE) leading industrial companies with natural gas over the next 10 years as the company aims to boost output and the nation’s economic growth.  The deals, signed with integrated steel producer Emirates Steel and construction…

Natural gas production from seven key U.S. onshore regions is set to decline from May to June, while oil supply is poised for growth thanks to output from the Permian Basin, according to the Energy Information Administration (EIA). In its latest Drilling Productivity Report (DPR), EIA said it expects the Anadarko, Appalachia and Permian basins,…

No more investments in new oil and gas fields should be sanctioned if the world is to have a shot at achieving net zero greenhouse gas (GHG) emissions by 2050, the International Energy Agency (IEA) said Tuesday. The world’s oil and gas needs in a net zero world can be met by projects greenlit as…

Oklahoma City-based Chesapeake Energy Corp. expects to up the natural gas mix in its production portfolio to 85% in 2022 from 77%, executives said Wednesday in the first quarter earnings call. The recently restructured company expects its gas production to hit 715-735 Bcf this year. Capital expenditures are set at $670-740 million, executives said. At…

Natural gas futures retreated in early trading Monday as forecasts over the weekend advertised milder conditions that would limit early season cooling demand. The June Nymex contract was down 2.3 cents to $2.935/MMBtu at around 8:45 a.m. ET. Changes in the weather data over the weekend pointed to lower overall demand for the next 15…

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…