Oil And Gas

U.S. Drilling Total Slides on Drop in Natural Gas Activity

U.S. Drilling Total Slides on Drop in Natural Gas Activity

The U.S. natural gas rig count fell four units to 153 during the week ended Friday (July 1), offsetting a one-rig increase in the oil patch to drop the overall domestic tally three units to 750, the latest numbers from Baker Hughes Co. (BKR) show. The 750 active U.S. rigs as of Friday compares with…

July 1, 2022
Earthstone’s Permian Conquest Marches On with $627M Titus Acquisition

Earthstone’s Permian Conquest Marches On with $627M Titus Acquisition

Earthstone Energy Inc. is continuing its Permian Basin acquisition spree with plans to purchase the assets of privately held Titus Oil & Gas Production LLC in the New Mexico portion of the Permian Basin in a $627 million cash-and-stock deal. Located in the northern portion of the Delaware sub-basin, the assets produced 31,800 boe/d (65%…

July 1, 2022
Natural Gas Drilling Decline Drives U.S. Upstream Activity Lower in Latest Baker Count

Natural Gas Drilling Decline Drives U.S. Upstream Activity Lower in Latest Baker Count

A decline in natural gas-directed drilling saw the U.S. rig count fall three units to 750 for the week ended Friday (July 1), according to the latest figures from oilfield services provider Baker Hughes Co. (BKR). One oil-directed rig was added domestically for the week, while natural gas-directed rigs declined by four. The combined 750…

July 1, 2022
Higher Oil, Natural Gas Prices Push Alberta Budget into Surplus

Higher Oil, Natural Gas Prices Push Alberta Budget into Surplus

A six-year streak of provincial budget deficits in Alberta ended in 2021 thanks to higher oil and natural gas prices that drove a five-fold increase by government royalties, according to an annual treasury review. In the Alberta provincial treasury annual review for the year ended March 31, 2022, Finance Minister Jason Nixon reported record royalties…

July 1, 2022
PDC’s DJ Well Inventory Climbs by 99 in June with Latest Colorado Regulatory Approval

PDC’s DJ Well Inventory Climbs by 99 in June with Latest Colorado Regulatory Approval

PDC Energy Inc. has gained approval by Colorado regulators for a 30-well oil and natural gas development program in Weld County. The Colorado Oil and Gas Conservation Commission (COGCC) approved the Broe Oil and Gas Development Plan (OGDP), PDC said Wednesday. The Denver-based producer acquired the Broe OGDP in Weld County during May, when it…

July 1, 2022
Mexico’s Dos Bocas Refinery Starting Operations Amid Controversy and Fanfare

Mexico’s Dos Bocas Refinery Starting Operations Amid Controversy and Fanfare

Mexican President Andrés Manuel López Obrador’s campaign promise of a refinery for his home state of Tabasco is being delivered this week. The 340,000 b/d Olmeca refinery in Dos Bocas will be inaugurated on Friday, July 1, exactly four years after López Obrador won the presidency. “With president López Obrador inaugurating his flagship Olmeca refinery,…

June 28, 2022
Mexico Private Operators Surpass 100,000 b/d in Oil Production 

Mexico Private Operators Surpass 100,000 b/d in Oil Production 

Oil production by non-state operators in Mexico has surpassed 100,000 b/d for the first time since the 2013-2014 constitutional energy reform ended the upstream monopoly held by state oil company Petróleos Mexicanos (Pemex). Private operators produced 101,044 b/d in May, up from 65,238 b/d in the same month a year ago, data from upstream regulator…

June 27, 2022
U.S. Natural Gas Drilling Up in Latest Baker Tally; Oil Count Surges

U.S. Natural Gas Drilling Up in Latest Baker Tally; Oil Count Surges

The U.S. natural gas rig count added three units to reach 157 for the week ended Friday (June 24), while a surge in oil-directed drilling lifted the combined domestic count 13 units higher to 753, the latest numbers from Baker Hughes Co. (BKR) show. Along with the three natural gas-directed rigs, domestic drilling gains for…

June 24, 2022
Surge in Oil Patch Lifts U.S. Drilling Tally by Double Digits in Latest Baker Count

Surge in Oil Patch Lifts U.S. Drilling Tally by Double Digits in Latest Baker Count

The U.S. rig count surged 13 units higher to 753 during the week ended Friday (June 24), driven by growth in the oil patch, the latest figures from oilfield services provider Baker Hughes Co. (BKR) show. Domestic drilling gains for the week included 10 oil-directed rigs and three natural gas-directed rigs. The 753 active U.S.…

June 24, 2022
Mexico Needs New Policy to Boost Natural Gas Production, Amexhi President Says

Mexico Needs New Policy to Boost Natural Gas Production, Amexhi President Says

“We firmly believe that Mexico can take much better advantage of its national natural gas basins to compensate for the imports and at the same time attend to the increased demand for natural gas,” Juan Manuel Delgado, President of Mexico’s Hydrocarbon Companies Association, AMEXHI, told NGI’s Mexico GPI.  “Mexico has to make a change to…

June 24, 2022
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