Compulsory abandonment savings that Canadian natural gas and oil pipelines must raise to shut, safely seal and clean up their operations after flows end are forecast to jump by 79%, according to a national regulatory decision. The Canada Energy Regulator (CER) set the increase (C$1.00/US 76 cents) to $18.6 billion from a previous requirement of…
Tag / Oil And Gas
SubscribeOil And Gas
Articles from Oil And Gas
Australian Energy Giant Gives Green Light to $7B Deepwater Oil, Gas Project Offshore Mexico
Australia’s largest oil and gas producer Woodside Energy Group Ltd. has made a final investment decision on the massive Trion development offshore Tamaulipas in northeastern Mexico. First production at the $7.2 billion deepwater project is expected in 2028, executives said. Regulatory approval and commitment from Mexican state firm Petróelos Mexicanos, aka Pemex, is expected at…
U.S. Natural Gas Rig Count Slides Further, with Permian and Marcellus Leading the Way
Losses in the North American natural gas and oil rig count accelerated for the week ending Friday (June 16), with the total number falling by nine, according to the latest tally from Baker Hughes Co. (BKR). In the United States, five natural gas-directed rigs were dropped, with four lost in the oilfield. Land drilling accounted…
Mexico ‘Needs to Move Fast’ to Shore Up Energy Grid, Snag Nearshoring Opportunity
Mexico is at a pivotal moment as it gears up for an election next year amid a global rearrangement of supply chains. Ensuring reliable and affordable energy is key to the nation’s success, said participants at the Mexico Gas Summit in San Antonio, TX last week. The country needs investment in its natural gas supply…
Mexico Natural Gas Policy Needs ‘Change of Mindset,’ Expert Says
A new government in Mexico in 2024 should reconsider its position regarding the importance of domestic natural gas in the energy mix, according to Erick Sánchez, vice president for Business Development in Mexico and Central America at Rystad Energy. “With all of the development in the southeast around the fields that everyone has identified as…
BLM Nets $79M for Oil, Natural Gas Leases in New Mexico and Kansas
The Bureau of Land Management (BLM) garnered almost $79 million from a recent natural gas and oil lease sale in New Mexico and Kansas. Forty-five parcels totaling 10,123 acres were auctioned across Cheyenne County, KS, and in Chaves, Eddy and Lea counties, NM. The New Mexico counties are in the heart of the Permian Basin’s…
Mexico Natural Gas Production Rises for Fourth Straight Month
Mexico’s natural gas production averaged 4.4 Bcf/d in April, up from 4.05 Bcf/d in April 2022. The figure was up from 4.35 Bcf/d in March, marking the fourth straight sequential increase in output, according to the latest figures from upstream regulator Comisión Nacional de Hidrocarburos (CNH). State oil company Petróleos Mexicanos (Pemex) supplied 4.18 Bcf/d…
Mexican Billionaire Carlos Slim Snaps Up Zama Stake as Oil-Rich Project Awaits Sanctioning
Mexican conglomerate Grupo Carso SAB has bought into the Zama shallow water oil and gas field, considered to be one of the country’s richest hydrocarbon assets. Carso subsidiary Zamajal SA de CV will acquire a 49.9% interest in the Mexican subsidiary of Houston-based Talos Energy Inc. The purchase price was $124.75 million. The transaction is…
Mexico LNG Buildout Poses Risks for Internal Natural Gas Market, Says Energy Policy Expert
Mexico’s decision to construct LNG plants to export natural gas may risk the country’s energy security and may be more costly than beneficial, a research associate at Columbia University’s Center on Global Energy Policy (CGEP) told NGI’s Mexico GPI. “I think that there is a risk that these projects represent a burden for Mexico’s energy…
Haynesville Declines Pace in Another Week of Retrenchment in U.S. Natural Gas, Oil Drilling
Continued retrenchment in domestic drilling activity saw the U.S. natural gas rig count fall four units to 137 for the week ended Friday (May 26), the latest numbers from Baker Hughes Co. (BKR) show. A decline of five oil-directed rigs saw the combined U.S. rig count drop to 711, down nine week/week and off 16…