Oil And Gas

The U.S. natural gas rig count dropped one unit to finish at 153 for the week ended Friday (March 10), while a slowdown in the Permian Basin helped drop the combined domestic tally three units to 746, according to updated figures from Baker Hughes Co. (BKR). Along with the loss of one natural gas rig,…

“We are working on the first biogas project connected to the natural gas network in Mexico, with the objective to inject green gasses into the distribution network,” Eva Ribera, Vice President of Business Development & Implementation at Engie México, told NGI’s Mexico GPI. “We think that biogas is currently an opportunity in Mexico and we…

Including a sharp decline in the Permian Basin, the U.S. rig count dropped three units to finish at 746 for the week ended Friday (March 10), according to the latest tally from oilfield services provider Baker Hughes Co. (BKR). Domestic declines for the period included two oil rigs and one natural gas-directed unit. Land drilling…

Paramount Resources Ltd. has set its sights on finishing its fifth walking rig after higher natural gas and oil prices more than doubled 2022 earnings. The independent reports earnings in Canadian dollars (C$1.00/US 75 cents). The Calgary firm’s 2023 budget enables subsidiary Fox Drilling to finish building the high-tech rig for $16.8 million. The program…

FERC Acting Chairman Willie Phillips got the memo. The head of the federal regulatory agency tasked with overseeing energy infrastructure development told a cavernous conference hall filled with industry insiders what they had hoped to hear: Phillips has their back when it comes to speeding up decisions on infrastructure projects. “Building new things,” Phillips said…

Shell plc is not going to determine how quickly the energy transition happens, but there is a role for natural gas and oil, the CEO said Thursday. CEO Wael Sawan, who took the helm in January from long-time chief Ben van Beurden, was the opening speaker at CERAWeek by S&P Global in Houston. Asked if…

ExxonMobil CEO Darren Woods on Tuesday made a compelling case for continuing to produce the globe’s natural gas and oil along with using technologies to eliminate emissions. Carbon capture and storage (CCS) may be one way to successfully sequester carbon dioxide (CO2) emissions from fossil fuel production, Woods said at CERAWeek by S&P Global. He…

Natural gas production in Mexico averaged 4.25 Bcf/d in January, up from 3.99 Bcf/d in January 2022. State oil company Petróleos Mexicanos (Pemex) supplied 4.03 Bcf/d of the total, up from 3.77 Bcf/d, according to data from upstream regulator Comisión Nacional de Hidrocarburos (CNH). Production from private sector operators averaged 224 MMcf/d, versus 226 MMcf/d…

Guyana is fast becoming a regional oil powerhouse, and the country’s vice president Bharrat Jagdeo thinks natural gas is the next step for the small nation at the northern tip of South America. Jagdeo spoke during CERAWeek by S&P Global in Houston on Monday. “The gas to energy program is going to start producing by…