Federal guidance updating how climate impacts should be assessed during environmental reviews for permitting energy infrastructure is drawing criticism from the oil and natural gas industry. The White House Council on Environmental Quality (CEQ) earlier this month released updated Guidance on Consideration of Greenhouse Gas Emissions and Climate Change. The interim guidance, which is under…
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Crestwood Says Harsh Winter Weather, Shut-ins to Impact 4Q Earnings
Crestwood Equity Partners LP is expecting a one-off hit to its fourth quarter earnings because of extreme weather that caused well freeze-offs and production shut-ins across multiple Lower 48 basins, management said Wednesday. The harsh winter weather “adversely impacted volumes and well-connect activity across Crestwood’s gathering and processing assets during the quarter,” the Houston-based midstream…
Global Reshuffle Presents 2023 Opportunities for Risk-Takers in Mexico’s Natural Gas Sector
In 2023, Mexico’s natural gas industry will be shaped by public-private partnerships and the shifting landscape brought about by Russia’s invasion of Ukraine. Political risk for private and international firms, meanwhile, remains high. Last year, President Andrés Manuel López Obrador’s team said they would carry out costly infrastructure works in conjunction with the private sector.…
Column: Regulatory Risk Big Unknown in Mexico 2023 Energy Outlook
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. January 2023 brings with it new hope for Mexico’s natural gas industry. It is an illusion to think that the environment for…
Natural Gas Drilling Activity Slides to Open 2023, BKR Count Shows
The U.S. natural gas rig count fell four units to 152 for the week ended Friday (Jan. 6), while a three-rig decline in the oil patch helped lower the overall domestic tally seven rigs to 772, updated numbers from oilfield services provider Baker Hughes Co. (BKR) show. Land drilling declined by eight rigs domestically for…
Haynesville Activity Slows as U.S. Drilling Numbers Pull Back in Latest BKR Count
Including a drop-off in Haynesville Shale activity, declines in both natural gas and oil drilling saw the U.S. rig count drop seven units to 772 for the week ended Friday (Jan. 6), according to the latest count from Baker Hughes Co. (BKR). Four natural gas-directed rigs exited the patch domestically, alongside three oil-directed rigs. Land…
What’s the Outlook for Latin America’s Energy Sector in 2023? – Listen Now to NGI’s Hub & Flow
Click here to listen to the latest episode of NGI’s Hub & Flow, which looks into the crystal ball and offers predictions for this year’s energy themes in Latin America. NGI Latin America Senior Editor Christopher Lenton chats with Rice University’s Francisco Monaldi about the major natural gas and oil trends from Mexico to Argentina,…
China Continuing to Boost Domestic Natural Gas Production From Top Fields
Oil and natural gas output from two of China’s leading fields again crept upward last year, according to reports that cited data from China National Petroleum Corp. (CNPC) and China Petroleum and Chemical Corp. (Sinopec). Oil and gas production in the Tarim Oilfield, China’s largest ultra-deep onshore play, hit a record 33.1 million tons (Mt)…
What’s in Store for Latin America Natural Gas in 2023? – Listen Now to NGI’s Hub & Flow
Click here to listen to the latest episode of NGI’s Hub & Flow, which looks into the crystal ball and offers predictions for this year’s energy themes in Latin America. NGI Latin America Senior Editor Christopher Lenton chats with Rice University’s Francisco Monaldi about the major natural gas and oil trends from Mexico to Argentina,…
Mexico’s Pemex Eyeing Substantial Natural Gas Production Increase in 2023
Mexico’s national oil company Petróleos Mexicanos (Pemex) is targeting full-year average natural gas production of 4.67 Bcf/d in 2023, up 20% from the 3.88 Bcf/d averaged in the third quarter of 2022. The growth is expected to be led by new fields such as Quesqui and Ixachi, Pemex said in its recently released 2023-2027 business…