oil and gas production

Bolstered by modest gains in both natural gas and oil drilling, the combined U.S. rig count climbed three units to 782 for the week ended Friday (Nov. 18), according to updated numbers published by Baker Hughes Co. (BKR). Changes in the United States for the week included gains of two natural gas-directed rigs and one…

North Dakota reported record high natural gas production of 3.18 Bcf/d in September, up 2.8% from August, according to the latest data from the state’s Department of Mineral Resources (DMR). Producers captured and marketed 3.02 Bcf/d or 95% of the total, another all-time record amid efforts to curb routine gas flaring, said DMR’s Lynn Helms,…

The U.S. natural gas rig count dropped one unit to 155 for the week ended Friday (Nov. 4), while an uptick in oil drilling nudged the combined domestic tally two units higher to 770, according to updated numbers from Baker Hughes Co. (BKR). Domestic land drilling increased by two units for the week, while the…

Marathon Oil Corp. has entered a deal to acquire the natural gas and condensate-weighted Eagle Ford Shale assets of Ensign Natural Resources for $3 billion in cash. The assets span 130,000 net acres in South Texas’ Live Oak, Bee, Karnes and Dewitt counties across the condensate, wet gas and dry gas phase windows of the…

Mexico’s state oil and gas giant Petróleos Mexicanos (Pemex) had a strange third quarter. Amid record commodity prices, the company posted a massive loss. But it also produced more hydrocarbons, in particular natural gas. In an earnings call last week, executives tried to put a positive spin on the results. They highlighted that Pemex liquids…

Luis Inácio Lula da Silva, the 77-year-old leftist icon and former president of Brazil from 2003 to 2010, secured a return to the country’s top job on Sunday, narrowly defeating incumbent Jair Bolsonaro in a bitterly contested presidential runoff election. The victory by da Silva, known to supporters and detractors alike simply as Lula, marks…

Amid modest declines in both oil- and natural gas-directed drilling, the U.S. rig count fell three units to 768 for the week ended Friday (Oct. 28), according to the latest tally from oilfield services provider Baker Hughes Co. (BKR). Changes in the United States for the week included a two-rig decrease in oil drilling, with…

Deliveries from Chevron Corp.’s two operated Australian LNG export facilities, both through spot sales and contracts, helped propel third quarter profits, and executives are considering ways to expand exports from the Atlantic Basin and the Eastern Mediterranean. During the quarterly conference call on Friday, CEO Mike Wirth said the international upstream results benefited from “record”…

Strong demand for natural gas, combined with soaring realizations, helped drive record breaking profits for ExxonMobil in the third quarter.  Natural gas realizations jumped 22% because of European supply concerns and efforts to build inventory ahead of winter. That more than offset decreasing crude realizations, which fell 12% on modest supply increases.  The “strong gas…