oil and gas production

Mexico’s natural gas production averaged 4.1 Bcf/d in July, up from 4.04 Bcf/d in June and 3.86 Bcf/d in July 2021, according to the latest figures from upstream regulator Comisión Nacional de Hidrocarburos (CNH). The figure represents the third straight sequential increase for monthly gas output in the country. State oil company Petróleos Mexicanos (Pemex)…

Natural gas production from seven key U.S. onshore regions is set to surge to slightly shy of 94 Bcf/d from August to September, with the largest share of incremental output growth expected from the Haynesville Shale, according to updated projections from the Energy Information Administration (EIA). Total natural gas output from the seven regions tracked…

The U.S. natural gas rig count eased one unit lower to 159 for the week ended Friday (Aug. 19), while oil activity held steady, according to updated numbers from oilfield services provider Baker Hughes Co. (BKR). Total domestic oil-directed rigs went unchanged week/week at 601. The combined U.S. count dropped one unit to 762, versus…

Warren Buffett’s Berkshire Hathaway Inc. on Friday was given federal approval to acquire “up to 50%” of Occidental Petroleum Corp.’s common shares. In the filing to FERC initially in July, Berkshire noted that it already owns 18.72% of the outstanding shares of Oxy, as it is commonly known (No. EC22-87-000). The purchases would be completed…

A small net decline in natural gas-directed activity saw the U.S. rig count ease one unit lower to finish the week ended Friday (Aug. 19) at 762, according to the latest figures from Baker Hughes Co. (BKR). Total domestic natural gas-directed rigs declined by one to 159, while the oil-directed rig count held steady week/week…

Despite inflationary pressures, Denver-based Civitas Resources Inc. and PDC Energy Inc. expect continued strong oil and natural gas production levels through 2022 as each capitalizes on acquisitions and strong demand. Civitas Resources Inc., the largest producer in the Denver-Julesburg (DJ) Basin, on average produced 175,223 boe/d — 46% oil, 30% natural gas and 24% natural…

Chord Energy Corp. executives, in an inaugural earnings call after emerging from the merger of two key Bakken Shale players, said the firm’s core assets beat production expectations during the second quarter of 2022 and helped set a course for the new company. Chord was formed by the merger of independents Whiting Petroleum Corp. and…

Houston-based Coterra Energy Inc., created from a merger between Cabot Oil & Gas Corp. and Cimarex Energy Co., surpassed natural gas and oil production guidance in the second quarter, setting the independent up for higher-than-forecast volumes this year. Total production from three Lower 48 plays – the Anadarko and Permian basins and the Marcellus Shale,…

ExxonMobil’s ability to invest through the pandemic enabled the supermajor to ramp up supply quickly as demand soared this year, with Permian Basin and LNG supply expanding, CEO Darren Woods said Friday. On the back of the Permian and a flood of investments in Guyana and liquefied natural gas projects worldwide, ExxonMobil’s deep pockets have…