Oil And Gas

Mexican state oil company Petróleos Mexicanos (Pemex) has submitted a development plan to authorities for the long-delayed Zama shallow water oil project off Mexico’s southeastern coast. Zama is expected to produce up to 180,000 boe/d of oil and gas at its peak, equal to over 10% of Mexico’s current production. Pemex is the operator of…

The U.S. natural gas rig count was unchanged at 162 rigs for the week ended Friday (March 24), while a modest rebound in oil activity lifted the combined domestic tally four units to 758, according to the latest numbers from Baker Hughes Co. (BKR). Total U.S. oil rigs were up four to finish the period…

Bolstered by a modest rebound in oil activity, the U.S. rig count rose four units to finish at 758 for the week ended Friday (March 24), according to the latest figures from oilfield services provider Baker Hughes Co. (BKR). Domestic gains were driven by a four-rig increase in oil-directed drilling, raising total U.S. oil rigs…

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. The big investment news in Mexico is Elon Musk’s intention to build a ~$5 billion Tesla plant in the thriving northern city…

The global offshore is in the early innings of a multi-year upcycle, with deepwater natural gas production forecast to account for 25%-plus of total output by 2040. Natural gas and oil development is being lifted by several deepwater discoveries, according to analysts. Evercore ISI analysts said a Brent oil price “above $50/bbl is economic for…

Italy’s Eni SpA, one of Mexico’s leading private sector oil producers, has found more oil and natural gas offshore Mexico. Its most recent find was in the Yatzil exploration prospect in Block 7, located in the mid-deep water of the Cuenca Salina in the Sureste Basin in the Gulf of Mexico. Eni thinks there are…

Natural gas production from seven key Lower 48 regions would continue rising in April, driven by incremental output gains from a variety of regions, led by the gassy Haynesville Shale, according to updated modeling from the Energy Information Administration (EIA). EIA said in its latest Drilling Productivity Report (DPR), published Monday, that total natural gas…

The U.S. natural gas rig count surged nine units higher to reach 162 for the week ended Friday, while a one-rig decline in the oil patch saw the combined domestic tally rise eight units to 754, according to updated figures from Baker Hughes Co. (BKR). Land drilling increased by five domestically for the week, with…

A sharp increase in natural gas-directed drilling saw the U.S. rig count rise eight units to 754 during the week ended Friday (March 17), according to the latest tally from Baker Hughes Co. (BKR). Total natural gas-directed rigs increased by nine domestically, partially offset by a decline of one oil-directed unit. Land drilling increased by…