oil and gas production

Private sector oil production in Mexico averaged 73,479 b/d in November, up from 51,907 b/d in November 2020, according to the latest figures from upstream regulator Comisión Nacional de Hidrocarburos (CNH). The 42% year/year increase marks the highest monthly average for non-state firms since the 2013 constitutional energy reform opened the upstream segment to private…

The U.S. natural gas rig count fell one unit to 104 for the week ended Friday (Dec. 17), while an expansion in the oil patch lifted the overall domestic count three units to 579, according to updated figures published by oilfield services provider Baker Hughes Co. (BKR). Four oil-directed rigs were added for the week…

The U.S. rig count rose three units to 579 during the week ended Friday (Dec. 17), including upticks in activity in the Permian Basin and the Haynesville Shale, according to the latest tally from oilfield services provider Baker Hughes Co. (BKR). Four oil-directed rigs were added for the week in the United States, partially offset…

Canada’s natural gas, oil and coal mining corporations have reduced exploration and development expenses since 2014 because of economic factors and policy changes, which in turn has cut into annual federal tax revenue, the country’s government watchdog said in a new report.  The Parliamentary Budget Officer (PBO), similar to the U.S. Government Accountability Office, reviewed…

Higher-than-expected oil and natural gas production, as well as stronger prices, are giving New Mexico’s coffers a boost, the state’s Legislative Finance Committee (LFC) recently reported. The committee also anticipates Fiscal Year (FY) 2021 oil output of 408 million bbl, or 1.12 million b/d — a 10.8% year/year increase. “Global consumption and demand for oil…

The plethora of oil and natural gas discoveries in the rich Perdido thrust belt of the deepwater Gulf of Mexico (GOM) has yielded yet another discovery for Royal Dutch Shell plc. Houston-based Shell Offshore Inc. made a “material discovery at the Blacktip North prospect” in U.S. waters. The well encountered about 300 feet net oil…

Lofty oil and natural gas prices played outsized roles in fueling spikes in inflation this year. November proved no exception, with price increases reaching a pace last recorded nearly four decades ago. The U.S. Bureau of Labor Statistics (BLS) said Friday the consumer price index surged 6.8% in November from the same month a year…

The U.S. natural gas rig count rose three units to finish at 105 as of Friday (Dec. 10), while more growth in the oil patch rounded out another week of gains in domestic drilling activity, the latest numbers from Baker Hughes Co. (BKR) show. Four oil-directed rigs were added in the United States alongside the…

Royal Dutch Shell plc is moving forward with an overhaul and name change after shareholders on Friday overwhelmingly supported a plan to simplify the business structure. On the resolution to adopt the new Articles of Association, 99.8% of the voting shares were in favor of the move. The overhaul could be completed in early 2022.…