oil and gas production

Emissions Performance Said to Vary Widely Among U.S. Oil, Natural Gas Producers

Emissions Performance Said to Vary Widely Among U.S. Oil, Natural Gas Producers

Greenhouse gas (GHG) emissions and emissions intensity vary substantially among U.S. onshore oil and gas producers, according to a new study by nonprofits the Clean Air Task Force (CATF) and Ceres. The report compiled data reported by 295 producers to the Environmental Protection Agency (EPA) under its Greenhouse Gas Reporting Program (GHGRP), and data calculated…

June 7, 2021
Mexico Private Sector Oil Output up 10.5% in April

Mexico Private Sector Oil Output up 10.5% in April

Private sector oil production in Mexico averaged 61,501 b/d during April, up from 55,682 b/d in April 2020, a 10.5% year/year increase, according to data from upstream regulator Comisión Nacional de Hidrocarburos (CNH). This marks the first time that monthly private sector production has surpassed 60,000 b/d since Mexico’s 2013-2014 constitutional energy reform ended state…

May 26, 2021
Onshore Gains Nudge U.S. Rig Count Higher as GOM Total Shrinks

Onshore Gains Nudge U.S. Rig Count Higher as GOM Total Shrinks

Gains in land drilling offset a decline in the Gulf of Mexico (GOM) to send the U.S. natural gas rig count two units higher to 455 for the week ended Friday (May 21), according to the latest numbers from Baker Hughes Co. (BKR). Four oil-directed rigs were added in the United States for the week,…

May 21, 2021
EIA Modeling June Oil Production Growth on Strength of Permian Output

EIA Modeling June Oil Production Growth on Strength of Permian Output

Driven by the Permian Basin, oil production out of seven key U.S. onshore regions is set to grow from May to June, while natural gas production is on track to decline, according to the updated projections from the Energy Information Administration (EIA). In its latest Drilling Productivity Report (DPR), EIA said it expects the Anadarko,…

May 17, 2021
Pembina Sees Green Shoots in Western Canadian Unconventionals as Commodity Prices Improve

Pembina Sees Green Shoots in Western Canadian Unconventionals as Commodity Prices Improve

Western Canada-focused Pembina Pipeline Corp. painted a rosy outlook in its first quarter earnings report for a Canadian industry-wide recovery amid improving commodity prices, with volumes from the Montney Shale and the Duvernay formation expected to grow. “Over the past few quarters, across both the pipelines and facilities divisions, we have seen steady increases in…

May 7, 2021
Vitol Acquiring Hunt Oil Permian Assets, Citing Bright Future for Lower 48

Vitol Acquiring Hunt Oil Permian Assets, Citing Bright Future for Lower 48

Vencer Energy LLC, the upstream subsidiary of global commodities trading giant Vitol, said Friday it has agreed to acquire Hunt Oil Co.’s assets in the Permian Midland Basin for an undisclosed sum. The assets comprise 44,000 acres across five counties with current daily production of about 40,000 boe/d, said Geneva, Switzerland-based Vitol. The acquisition “realizes…

April 30, 2021
U.S. Oil, Gas M&A Activity Sinks in 1Q2021, but Signs of Momentum Ahead, Enverus Says

U.S. Oil, Gas M&A Activity Sinks in 1Q2021, but Signs of Momentum Ahead, Enverus Says

Consolidation in the U.S. upstream sector slowed to a relative crawl in the first quarter after rallying late in 2020. But there have been signs of increased activity in April and potential catalysts for more deals as the year wears on, according to an Enverus analysis. The oil and gas analytics company’s summary of 1Q2021…

April 9, 2021
With Strong Demand and Choppy Supply, Outlook Brightens for NGL Prices, Raymond James Says

With Strong Demand and Choppy Supply, Outlook Brightens for NGL Prices, Raymond James Says

Natural gas liquids (NGLs), a byproduct of oil and gas production, could benefit from global demand and supply disruptions in 2021, paving a path for rising prices as the year wears on, analysts at Raymond James & Associates Inc. said in a new forecast. “We still think U.S. NGLs have a pretty bullish set-up, similar…

April 5, 2021
U.S. E&Ps Reining in Capex, while International Operators Spending More

U.S. E&Ps Reining in Capex, while International Operators Spending More

U.S. oil and gas producers are likely to reduce their capital spending this year by around 8% as they remain “extremely disciplined, yes, really,” based on a global survey by Raymond James & Associates Inc. Analysts Pavel Molchanov, John Freeman and Graham Price compiled the 2021 projections in the firm’s eighth annual capital expenditure (capex)…

April 5, 2021
Mexico Needs Fiscal Framework for Natural Gas Storage, Atlantic Council Energy Chairman Says (Part 2)

Mexico Needs Fiscal Framework for Natural Gas Storage, Atlantic Council Energy Chairman Says (Part 2)

Mexico needs to develop a fiscal framework for natural gas storage, Chairman David Goldwyn of the Atlantic Council Global Energy Center’s Energy Advisory Board told NGI’s Mexico Gas Price Index. “I think the first thing you need is a fiscal framework which compensates people for building and having storage. And so that means you’ve got…

April 1, 2021
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