Matador Resources Co. is seeing better than expected results from recently completed wells in the Permian Basin’s Delaware sub-basin, according to CEO Joseph Foran. As a result, Dallas, TX-based Matador is increasing the midpoints of its full-year 2022 production guidance from 21.7 to 21.85 million bbl for oil, and from 95.5 to 97.0 Bcf for…
oil and gas production
Articles from oil and gas production
Oilfield Services CEOs Say Latin America Driving Global Oil, Natural Gas Activity Uptick
Oilfield services companies are seeing a steady uptick in upstream activity and revenue across Latin America, both offshore and on land. “Internationally, growth continues to be led by Latin America, West Africa, and the Middle East,” said Baker Hughes Co. CEO Lorenzo Simonelli during the firm’s third-quarter earnings call. “In all of these markets, offshore…
Mexico Natural Gas Production Up in September, but Outlook Mixed
Natural gas production in Mexico continued its winning streak in September, according to the latest statistics from upstream regulator Comisión Nacional de Hidrocarburos (CNH). Gas production hit 4.180 Bcf/d during the month, compared to 4.060 Bcf/d in August and 3.894 Bcf/d in September of last year. Natural gas production has seen a consistent rise this…
Liberty Energy CEO Says Global Natural Gas, Oil Supply Risks Outweigh Recession Threats
Liberty Energy Inc. CEO Chris Wright said threats to the global economy – from inflation and soaring interest rates in the United States and Europe to pandemic-related lockdowns in China – are real and could impact demand for natural gas and oil. However, for exploration and production (E&P) companies and the completion experts such as…
OPEC Sees Mexico Oil Output Dipping in 2023
OPEC is forecasting full-year liquid hydrocarbons production of 2.0 million b/d for Mexico in 2022, flat versus 2021, followed by a slight decline in 2023. Incremental production in 2022 “is expected to be driven by foreign-operated fields, while minor growth” is also expected in Petróleos Mexicanos (Pemex) operated fields, OPEC said in its latest Monthly…
Natural Gas Activity Slows in Latest BKR Count, But Oil Drilling Drives U.S. Total Higher
The U.S. natural gas rig count fell one unit to 157 for the week ended Friday (Oct. 14), while strong growth in the oil patch lifted the combined domestic tally seven units higher to 769, according to updated numbers from Baker Hughes Co. (BKR). Changes domestically included an eight-rig increase in oil-directed rigs. Six rigs…
Some Oil, Gas Execs Cite ‘Hypocrisy’ as Energy Crisis Upends Security, Climate Goals
Since Russia’s unprovoked invasion of Ukraine, countries around the world are shifting their energy priorities, according to a group of experts who spoke in New York City on Wednesday. The last 10 months have brought the issues of energy security, climate change and affordability “into contention,” according to Fahad Alajlan, president of Saudi Arabia’s King…
Citing Prices, Demand, EIA Expects Household Natural Gas Costs to Rise This Winter
A result of both higher retail prices and higher forecast consumption, the Energy Information Administration (EIA) expects U.S. households to spend more on energy this winter compared with the 2021-22 heating season, with the largest increase for homes that heat with natural gas. The agency’s latest Winter Fuels Outlook, included in its updated Short-Term Energy…
Focus Said Shifting to Energy Affordability Amid Soaring Prices, Double Standards
Since Russia’s unprovoked invasion of Ukraine, countries around the world are shifting their priorities toward energy affordability, according to a group of experts who spoke in New York City on Wednesday. The last 10 months have brought the issues of energy security, climate change and affordability “into contention,” according to Fahad Alajlan, president of Saudi…
Tulsa’s Rebellion, Legacy Well Plugging Specialist, Snags Grey Rock Investment
Private equity (PE) firm Grey Rock Investment Partners has agreed to invest in Rebellion Energy Solutions, a Tulsa-based specialist in decommissioning legacy oil and gas wells. “Grey Rock believes there is an underserved market of opportunities in the oil and gas well remediation space to offer near term solutions for positive environmental impacts,” said Grey…