oil and gas production

Amid a historic natural gas price downturn and uncertainty around the future of LNG exports, the Mexico market remains a relative bright spot for bulls. Pipeline flows of U.S. natural gas to Mexico have averaged 6.09 Bcf/d year-to-date through March 27, up 552 MMcf/d versus the same period last year, according to Wood Mackenzie data.…

In its second transaction in less than a week, SLB Ltd. agreed Tuesday to buy ChampionX Corp., considered a leader in oilfield reservoir optimization. The all-stock merger with ChampionX, headquartered in The Woodlands north of Houston, was valued at nearly $8 billion. Once the transaction is completed, now expected by year’s end, ChampionX shareholders would…

The U.S. Department of the Interior’s Bureau of Land Management (BLM) has finalized a rule designed to curb methane pollution from oil and natural gas production on federal and Tribal lands, in part by collecting royalty payments on flared gas. The Waste Prevention, Production Subject to Royalties, and Resource Conservation rule, which was proposed in…

Natural gas and oil lease sales in the Gulf of Mexico (GOM) should continue, but there’s room for wind development, as well as carbon capture and sequestration (CCS), according to exploration and production (E&P) companies.  Both supporters and opponents of federal leasing in the offshore made their comments on the national leasing program, published late…

Mexico’s natural gas production averaged 4.05 Bcf/d in February 2024, compared to 4.29 Bcf/d in the same month a year ago.  State oil company Petróleos Mexicanos (Pemex) supplied 3.84 Bcf/d or 95% of the total, down from 4.07 Bcf/d in February 2023, data from upstream regulator Comisión Nacional de Hidrocarburos (CNH) show.  Associated gas tied…

Energy operators were cautiously optimistic during their recent quarterly conference calls that Lower 48 natural gas activity would improve in anticipation of increasing LNG demand, but the startup of more export projects is not yet a certainty, according to some analysts. Evercore ISI’s James West, senior managing director, said the U.S. gas rig count jumped…

Click here to listen to the latest episode of NGI’s Hub and Flow, in which NGI’s Chris Lenton, senior editor of Mexico and Latin America, sits down with Rosanety Barrios, who heads the energy team for Mexican presidential candidate Xóchitl Gálvez.  Barrios details how Mexico’s energy sector, including state companies Comisión Federal de Electricidad (CFE)…

ExxonMobil is trying to put a stop to Chevron Corp. and its bid to enter the lucrative Guyanese offshore oil and natural gas patch. The company has filed for arbitration, claiming Chevron’s bid to snap up Hess Corp.’s Guyana assets goes against a contract clause that grants ExxonMobil a right of first refusal. Last October,…

Steady global demand for crude and ongoing OPEC production reticence could motivate U.S. oil producers to keep output near record levels this year. In doing so, they could also continue to deliver robust amounts of associated natural gas from the Permian Basin, countering efforts elsewhere to curb supply in the face of low prices. The…