Chevron Corp. CEO Mike Wirth urged President Biden on Tuesday to stop criticizing the oil and gas industry to score political points and instead work constructively with energy executives about how to deal with high commodity prices. The letter from Wirth preceded a meeting scheduled on Thursday between oil and gas chiefs and the administration.…
oil and gas production
Articles from oil and gas production
North Dakota Regulator Sees Growing Incentive for Public E&Ps to Go Private
News that Continental Resources Inc. may be taken private should come as no surprise, according to North Dakota’s top oil and gas regulator. Continental is the largest producer in the oily Bakken Shale, which accounts for 96% of the state’s production. Executive Chairman Harold Hamm announced he is seeking to purchase all outstanding shares in…
Colorado’s PDC Raising Capex, Production Forecasts Following Great Western Acquisition
Denver-based independent PDC Energy Inc. has updated its 2022 production and spending guidance to the high side, citing year-to-date performance and the timing of closing its acquisition of Great Western Petroleum LLC. PDC snapped up Great Western, a privately held operator focused on Colorado’s Wattenberg field, in a $1.3 billion cash-and-stock deal announced in February.…
Canes Midstream Snaps Up Sizeable Permian Midland Asset Package
Private equity-backed Canes Midstream LLC said Wednesday it has closed on its acquisition of Permian Basin midstream firm Cogent Midstream LLC. Located in the southern portion of the Permian’s Midland sub-basin, the Cogent assets include 520 MMcf/d of natural gas processing capacity, over 800 miles of pipelines, 42 compressor stations, a crude oil gathering system,…
Ixachi Field Drives Mexico Natural Gas Production Growth as Oil Output Slips
Mexico’s natural gas production averaged 4.05 Bcf/d in April, up from 3.74 Bcf/d in April 2021, according to new data from the country’s upstream regulator. State oil company Petróleos Mexicanos (Pemex) supplied 4.05 Bcf/d or 95% of the total, up from 3.53 Bcf/d a year ago. Private sector production, meanwhile, averaged 220 MMcf/d, up from…
Latin American NOCs Post Lofty Q1 Profits, but Only Argentina’s YPF Boosting Production
Latin America’s national oil companies (NOCs) posted quarterly profits that would delight any investor, but with the exception of Argentina this hasn’t so far translated into significant oil and gas production increases. The oilfield services firms touted strong growth from Latin American operations in the first quarter. Halliburton Co. reported first-quarter revenue from Latin America…
Natural Gas Drilling Steady in U.S. as Texas Leads Surge in Oil Patch
The U.S. natural gas rig count climbed one unit to 150 for the week ended Friday (May 20), while Texas led a surge in oil drilling that lifted the combined U.S. tally 14 units higher to 728, according to the latest figures from Baker Hughes Co. (BKR). Alongside the one natural gas-directed rig, 13 oil-directed…
Big Surge in Texas Drilling Leads U.S. Upstream Oil and Gas Activity Higher
A big surge in oil-directed drilling, headlined by gains in the Permian Basin and Eagle Ford Shale, helped lift the U.S. rig count 14 units higher to 728 during the week ended Friday (May 20), according to the latest figures published by Baker Hughes Co. (BKR). Thirteen oil-directed rigs were added in the United States…
Calgary’s Headwater Riding Oil, Natural Gas Growth Wave, with Capital Jumping 59%
Headwater Exploration Inc. plans to boost its average daily output 33% by the end of this year, the Calgary-based independent said. “Our business continues to evolve with a very strong growth outlook for the foreseeable future,” management said in the earnings report for the first quarter. The producer reported 1Q2022 average output of 12,414 boe/d,…
Colombia’s Ecopetrol, Oxy Teaming Up On Deepwater Exploration as Natural Gas Takes Center Stage
Colombian national oil company Ecopetrol SA and a unit of Occidental Petroleum Corp. (Oxy) have signed a deal to jointly explore four deepwater areas in the Caribbean. Blocks COL 1, COL 2, COL 6 and COL 7 are located, on average, about 150 kilometers or 93 miles off Colombia’s northern coast. The companies, which also…