oil and gas production

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…

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…

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,…

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…

U.S. onshore producers may be limiting annual production growth to 5% or less, but don’t tell that to Argentina’s 51% state-owned YPF SA. The Vaca Muerta shale play in the Neuquén Basin drove a 16% year/year increase in oil and gas output to 506,000 boe/d during the first quarter for the integrated producer. On a…

The U.S. natural gas rig count rose three units to 149 for the week ended Friday (May 13), while rising numbers in the oil patch rounded out another week of healthy gains for domestic drilling activity, the latest numbers from Baker Hughes Co. (BKR) show. Six oil-directed rigs were added along with the three natural…

U.S. oil and gas producers that weren’t prepared to get down to business as prices rose may be out of luck, Occidental Petroleum Corp. CEO Vicki Hollub said Wednesday. Hollub helmed a first quarter conference call, joined by CFO Robert Peterson and Richard Jackson, president of U.S. Onshore Resources and Carbon Management. They shared with…

The value of cross-border energy trade between the United States and Mexico reached a nine-year high of $42 billion in 2021, according to the U.S. Energy Information Administration (EIA). The figure is the highest ever recorded in U.S. Census Bureau data, which started in 1996, said EIA researchers led by Natalie Kempkey. The immense flow…

Projections of Lower 48 oil production growth this year are “way too high,” Pioneer Natural Resources Co. CEO Scott Sheffield said Thursday. Irving, TX-based Pioneer is among the largest producers in the Permian Basin, with operations focused on the Midland sub-basin. As evidence, Sheffield pointed to comments by oilfield services CEOs, including Halliburton Co.’s Jeff…