Oil And Gas

Mexico’s Pemex said Poorly Positioned to Capitalize on Oil Price Rally

Mexico’s Pemex said Poorly Positioned to Capitalize on Oil Price Rally

As major economies across the globe emerge from the doldrums of the pandemic and travel surges, oil prices could further spike and reach $100/bbl by next year, according to the most bullish Wall Street forecast yet this year. It could also mark the final surge in oil prices, however, as pressure intensifies on energy companies…

June 23, 2021
Latin America Oil, Natural Gas Capex Seen Rebounding in 2021

Latin America Oil, Natural Gas Capex Seen Rebounding in 2021

Upstream oil and gas spending in Latin America is on track for a modest year/year (y/y) recovery in 2021 after a pandemic-driven slowdown in 2020, according to Evercore ISI. Exploration and production (E&P) spending by select firms in the region fell by 14% y/y in 2020, Evercore analysts said in the firm’s 2021 Global E&P…

June 14, 2021
Alberta Set for Strong Economic Comeback on Higher Oil Prices

Alberta Set for Strong Economic Comeback on Higher Oil Prices

Canada’s top oil- and gas-producing province is expected to score the nation’s strongest comeback this year on improved commodity prices after taking the biggest dive in 2020 driven by the Covid-19 pandemic, according to a new report. As measured in 2012 dollars, the “real” trend yardstick used by the Conference Board of Canada, Alberta’s gross…

June 14, 2021
U.S. Natural Gas Rig Count Slides as Oil Patch Sees More Growth

U.S. Natural Gas Rig Count Slides as Oil Patch Sees More Growth

The U.S. natural gas rig count fell one unit to 96 for the week ended Friday (June 11), while the oil patch continued to add to its numbers, lifting the overall domestic drilling tally in the process, the latest data from Baker Hughes Co. (BKR) show. Oil-directed drilling increased by six units in the United…

June 11, 2021
Civitas Looking to Create DJ Beast by Merging Crestone Peak with Bonanza, Extraction Tie-Up

Civitas Looking to Create DJ Beast by Merging Crestone Peak with Bonanza, Extraction Tie-Up

If all goes to plan, Civitas Resources Inc. could become a giant among giants in the Colorado oil and natural gas world as it looks to merge another Denver Julesburg (DJ) Basin producer into its operations. DJ pure-plays Bonanza Creek Energy Inc. and Extraction Oil & Gas Inc. agreed to merge in early May. That…

June 7, 2021
U.S. Rig Count Steady After Small Adjustments in Haynesville, Permian

U.S. Rig Count Steady After Small Adjustments in Haynesville, Permian

The U.S. rig count held essentially flat for the week ended Friday (June 4), dropping one unit overall to fall to 456, including a small net decline in the Permian Basin and a small uptick in the Haynesville Shale, according to data from Baker Hughes Co. (BKR). Oil-directed drilling went unchanged week/week in the United…

June 4, 2021
U.S. Petroleum Demand Eases, but Production Falls and Oil Inventories Recede, EIA Says

U.S. Petroleum Demand Eases, but Production Falls and Oil Inventories Recede, EIA Says

After climbing for two consecutive weeks, U.S. petroleum demand declined during the last week of May, the U.S. Energy Information Administration (EIA) said Wednesday. Still, refinery utilization reached a high for the year to date, and analysts anticipate demand to prove strong this summer. EIA said in its Weekly Petroleum Status Report (WPSR) overall petroleum…

June 4, 2021
Oil Count Up, Natural Gas Down as U.S. Adds Two Rigs in Latest Tally

Oil Count Up, Natural Gas Down as U.S. Adds Two Rigs in Latest Tally

A mix of gains and losses in the U.S. onshore, including an uptick in the Permian Basin and a drop in the Marcellus Shale, saw the domestic rig count finish at 457 units as of Friday (May 28), up two week/week, according to Baker Hughes Co. (BKR). The addition of three oil-directed rigs in the…

May 28, 2021
Cimarex, Cabot Combination ‘Building an Ark, Not a Party Boat’ in Lower 48 Oil, Natural Gas

Cimarex, Cabot Combination ‘Building an Ark, Not a Party Boat’ in Lower 48 Oil, Natural Gas

Cimarex Energy Co. and Cabot Oil & Gas Corp. on Monday agreed to combine in an all-stock merger, tying together their extensive operations in the Marcellus Shale, Permian and Anadarko basins. Denver-based Cimarex controls 560,000 net acres combined in the Permian and Anadarko, while Houston-based Cabot has 173,000 net acres in the Marcellus. Cabot CEO…

May 24, 2021
Oasis Selling Permian Assets for $406M, Doubling Down on Williston

Oasis Selling Permian Assets for $406M, Doubling Down on Williston

Oasis Petroleum Inc. said Thursday it is exiting the Permian Basin to become a Williston Basin pure play. The Houston-based independent is selling its Permian acreage to an undisclosed buyer for total gross consideration of up to $481 million.  Oasis will receive $406 million at closing and up to three $25 million annual contingent payments…

May 21, 2021
‹ Previous 1 2 3 11