Oil And Gas

“The global need for natural gas is going to continue for at least the next 30-40 years, whether for power generation, backup or industrial purposes, particularly in Asia and Europe,” Rogelio Calderón, industry expert and founder of Huasteca Ventures, told NGI’s Mexico GPI.  “If Mexico has an LNG hub with access to that market, we’re…

Amid a number of smaller regional adjustments in drilling activity, the U.S. rig count held steady overall at 779 for the week ended Friday (Dec. 30), according to the latest figures from Baker Hughes Co. (BKR). A net decline of one oil-directed rig in the United States week/week was offset by the addition of one…

The U.S. natural gas rig count climbed one unit to reach 155 for the period ended Dec. 22, while Canada’s drilling total saw a steep drop that mirrored year-earlier declines, the latest numbers from Baker Hughes Co. (BKR) show. Along with the one natural gas-directed unit, two oil-directed rigs were also added in the United…

The U.S. rig count climbed three units to 779 for the period ended Dec. 22, bolstered by gains in the Permian Basin, according to the latest figures from oilfield services provider Baker Hughes Co. (BKR). Two oil-directed rigs and one natural gas-directed rig were added in the United States for the period. Land drilling accounted…

An auction to offer some offshore oil and natural gas leases is planned at the end of this month for Alaska’s Cook Inlet.  The Bureau of Ocean Energy Management (BOEM) is offering 958,202 acres off Alaska’s southcentral coast in a lease sale scheduled for Dec. 30.  The Inflation Reduction Act directed BOEM to hold the…

OPEC last week stuck to its global demand forecasts for full-year 2022 and next year. In its monthly market report, the cartel forecast global oil demand growth this year of 2.5 million b/d and growth in 2023 of 2.2 million b/d. Researchers cited the potential for recently eased pandemic restrictions in China to drive fresh…

Bolstered by an uptick in drilling in the Haynesville Shale, the U.S. natural gas rig count climbed one unit to reach 154 for the week ended Friday (Dec. 16), while a slowdown in the oil patch saw the combined domestic tally retreat four units to 776, according to updated Baker Hughes Co. (BKR) data. Net…

A slowdown in oil-directed drilling overshadowed an uptick in Haynesville Shale activity to send the combined U.S. rig count four units lower to 776 for the week ended Friday (Dec. 16), according to updated figures from Baker Hughes Co. (BKR). Net changes in the United States for the week included a five-rig decline in oil…

Denver-based independent PDC Energy Inc. said state regulators have unanimously approved a drilling plan in Weld County to include about 450 oil and natural gas wells. PDC’s Guanella Comprehensive Area Plan (CAP) in the Denver-Julesburg (DJ) Basin was given the green light earlier this month by the Colorado Oil and Gas Conservation Commission (COGCC). The…