oil and gas production

ExxonMobil CEO Darren Woods on Tuesday made a compelling case for continuing to produce the globe’s natural gas and oil along with using technologies to eliminate emissions. Carbon capture and storage (CCS) may be one way to successfully sequester carbon dioxide (CO2) emissions from fossil fuel production, Woods said at CERAWeek by S&P Global. He…

Guyana is fast becoming a regional oil powerhouse, and the country’s vice president Bharrat Jagdeo thinks natural gas is the next step for the small nation at the northern tip of South America. Jagdeo spoke during CERAWeek by S&P Global in Houston on Monday. “The gas to energy program is going to start producing by…

Overshadowing gains in natural gas drilling, a third consecutive weekly decline in the oil patch dropped the U.S. rig count four units to 749 for the week ended Friday (March 3), according to the latest tally from Baker Hughes Co. (BKR). Net changes domestically for the period included an eight-rig decline in oil-directed rigs. In…

Diamondback Energy Inc. has no plans to accelerate oil production growth despite signs of impending tightness in the global market, according to management. CEO Travis Stice hosted a conference call to discuss the Permian Basin pure-play’s fourth quarter and full-year 2022 results. “I don’t think the macro conditions are dictating any kind of production growth…

The U.S. natural gas rig count climbed one unit to 151 for the week ended Friday (Feb. 17), a period of generally minor adjustments to overall domestic upstream activity levels, updated numbers from Baker Hughes Co. (BKR) show. The uptick in natural gas rigs partly offset a two-rig decline in domestic oil-directed drilling for the…

Devon Energy Corp. is planning to focus a majority of its capital on the Permian Basin’s Delaware sub-basin this year, management said Wednesday. Oklahoma City-based Devon, a leading Lower 48 independent, operates primarily in the Permian Delaware, Anadarko, Williston and Powder River basins, along with the Eagle Ford Shale. Devon has set a 2023 capital…

With gains in natural gas-directed drilling countered by declines in the oil patch, the U.S. rig count finished unchanged overall at 771 for the week ended Friday (Jan. 27), according to the latest numbers from Baker Hughes Co. (BKR). Domestic changes for the period included an increase of four natural gas-directed rigs and a decline…

The U.S. natural gas rig count dropped two units to finish at 150 for the week ended Friday (Jan. 13), while gains in the oil patch lifted the combined domestic tally three units higher to 775, according to the latest figures from oilfield services provider Baker Hughes Co. (BKR). Domestic drilling activity on land was…

Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process. January 2023 brings with it new hope for Mexico’s natural gas industry. It is an illusion to think that the environment for…