Oil And Gas

Led by a pullback in Haynesville Shale activity, the U.S. natural gas rig count dropped four units to 115 for the week ended Friday (March 8), according to updated figures from Baker Hughes Co. (BKR). The 115 active U.S. natural gas rigs as of Friday compares with 153 running in the year-ago period, according to…

Steady global demand for crude and ongoing OPEC production reticence could motivate U.S. oil producers to keep output near record levels this year. In doing so, they could also continue to deliver robust amounts of associated natural gas from the Permian Basin, countering efforts elsewhere to curb supply in the face of low prices. The…

North American natural gas prices got a bump earlier in the week when top U.S. producer EQT Corp. announced it was curtailing output, but the rally was short-lived. On Thursday, the New York Mercantile Exchange contract for April settled at $1.818/MMBtu, down 11.1 cents day/day. Mexico pipeline imports of natural gas for the 10-day period…

The total number of active U.S. natural gas-directed rigs eased one unit lower to 119 for the week ended Friday (Mar. 1), while an increase in oil drilling helped lift the overall domestic rig count three units higher to 629, according to updated numbers from Baker Hughes Co. (BKR). The 119 U.S. natural gas rigs…

Natural gas production in Mexico averaged 4.07 Bcf/d in January 2024, down from 4.25 Bcf/d in January 2023 and marking a fourth straight sequential decline.  State oil company Petróleos Mexicanos (Pemex) supplied 3.86 Bcf/d of the total, compared to 4.03 Bcf/d a year earlier, according to the latest data from upstream regulator Comisión Nacional de…

“A lot of the potential developments that nearshoring will bring are going to need access to natural gas,” Diana Pineda, a partner at Gónzalez Calvillo law firm in Mexico City, told NGI’s Mexico GPI.  “And the truth is, we’ve now gone several years without a new natural gas pipeline.” Pineda is one of the leading…

Natural gas-directed drilling activity held steady in the United States for the week ended Friday (Feb. 23) at 120 rigs, down one week/week, while an uptick in oil drilling lifted the combined domestic tally five units to 626, updated Baker Hughes Co. (BKR) data show. Total domestic natural gas rigs ended the period down 31…

Mexican President Andrés Manuel López Obrador said last week that the government waived four months of tax obligations for state oil and gas producer Petróleos Mexicans (Pemex) in an effort to free up cash flow for the debt-saddled company following a downgrade by the credit agency Moody’s.  The credit rating for Pemex — which is…

Mexico’s President Andrés Manuel López Obrador announced a new package of 20 constitutional reforms on Monday evening. They include plans to scrap autonomous regulators such as competition watchdog Comisión Federal de Competencia Económica (Cofece) and energy regulator Comisión Reguladora de Energía (CRE). CRE oversees natural gas regulations and permitting. It also publishes the IPGN monthly…