oil and gas production

Natural gas production from seven key Lower 48 regions would continue rising in April, driven by incremental output gains from a variety of regions, led by the gassy Haynesville Shale, according to updated modeling from the Energy Information Administration (EIA). EIA said in its latest Drilling Productivity Report (DPR), published Monday, that total natural gas…

Bakken Shale natural gas prices remain at pandemic-era lows amid an overall softening of the North American market, according to North Dakota’s Department of Mineral Resources (DMR). The price of natural gas delivered to TC Energy Corp. and Oneok Inc.’s Northern Border pipeline system at Watford City, ND, stood at $2.08/Mcf as of Wednesday (March…

A coalition of business groups is calling on federal officials to expedite applications for carbon dioxide (CO2) injection wells, otherwise known as Class VI wells, citing frustration to advance carbon capture projects.  Eight groups from Illinois, New Mexico, Pennsylvania, Texas and West Virginia sent a letter to Environmental Protection Agency (EPA) Administrator Michael Regan requesting…

Expect more natural gas output from Latin American nations, according to recent earnings calls and presentations from regional government officials and executives. Management at Brazil’s state oil company Petrobras SA said they were working to employ more of the natural gas from the prolific offshore pre-salt deposits. “We will search for new segments for our…

Including a sharp decline in the Permian Basin, the U.S. rig count dropped three units to finish at 746 for the week ended Friday (March 10), according to the latest tally from oilfield services provider Baker Hughes Co. (BKR). Domestic declines for the period included two oil rigs and one natural gas-directed unit. Land drilling…

Shell plc is not going to determine how quickly the energy transition happens, but there is a role for natural gas and oil, the CEO said Thursday. CEO Wael Sawan, who took the helm in January from long-time chief Ben van Beurden, was the opening speaker at CERAWeek by S&P Global in Houston. Asked if…

ExxonMobil CEO Darren Woods on Tuesday made a compelling case for continuing to produce the globe’s natural gas and oil along with using technologies to eliminate emissions. Carbon capture and storage (CCS) may be one way to successfully sequester carbon dioxide (CO2) emissions from fossil fuel production, Woods said at CERAWeek by S&P Global. He…

Guyana is fast becoming a regional oil powerhouse, and the country’s vice president Bharrat Jagdeo thinks natural gas is the next step for the small nation at the northern tip of South America. Jagdeo spoke during CERAWeek by S&P Global in Houston on Monday. “The gas to energy program is going to start producing by…

Overshadowing gains in natural gas drilling, a third consecutive weekly decline in the oil patch dropped the U.S. rig count four units to 749 for the week ended Friday (March 3), according to the latest tally from Baker Hughes Co. (BKR). Net changes domestically for the period included an eight-rig decline in oil-directed rigs. In…