Oil And Gas

National oil companies (NOCs) in Latin America enjoyed record profits in the second quarter on the back of high oil and gas prices, but they remain under pressure from governments facing economic crises. The high oil and gas price environment “has come with a downside which is that in the domestic market, it is very…

The U.S. natural gas rig count rose four units to 162 for the week ended Friday (Sept. 2), while a sharp pullback in the Permian Basin saw the overall U.S. rig count fall five units to 760, according to the latest tally from oilfield services provider Baker Hughes Co. (BKR). Net changes domestically for the…

Driven by a sharp pullback in the Permian Basin, the U.S. rig count dropped five units to 760 for the week ended Friday (Sept. 2), according to the latest tally from oilfield services provider Baker Hughes Co. (BKR). Net changes domestically for the week included a nine-rig decline in oil-directed drilling, partially offset by a…

International asset management group IKAV has agreed to acquire Bakersfield, CA-based independent Aera Energy LLC from joint owners Shell plc and ExxonMobil, the energy companies reported Thursday. Accounting for nearly one-quarter of California’s oil and gas output from about 13,000 wells, Aera is 51.8% owned by Shell and 48.2% by ExxonMobil. Shell said it expects…

Led by growth in oil-directed drilling in the Permian Basin, the U.S. rig count rose three units to 765 for the week ended Friday, according to updated figures published by Baker Hughes Co. (BKR). A four-rig increase in oil-directed drilling in the United States was partially offset by a one-rig decrease in natural gas-directed activity.…

A rebound in Permian oil and gas permitting, along with a lift in the Haynesville and Marcellus shales, lifted the Lower 48 count in July to a three-year high, according to state and federal data. The “midsummer boost” compiled by Evercore ISI analysts, found that permitting overall rose by 707 month/month (m/m) and was 63%…

Texas banned local and state government entities from holding stakes in 10 financial companies and nearly 350 investment funds for allegedly boycotting the oil and natural gas industry. Texas Comptroller Glenn Hegar on Wednesday posted a list of companies and funds that his department determined had shunned oil and gas companies as part of a…

Mexico’s natural gas production averaged 4.1 Bcf/d in July, up from 4.04 Bcf/d in June and 3.86 Bcf/d in July 2021, according to the latest figures from upstream regulator Comisión Nacional de Hidrocarburos (CNH). The figure represents the third straight sequential increase for monthly gas output in the country. State oil company Petróleos Mexicanos (Pemex)…

Natural gas production from seven key U.S. onshore regions is set to surge to slightly shy of 94 Bcf/d from August to September, with the largest share of incremental output growth expected from the Haynesville Shale, according to updated projections from the Energy Information Administration (EIA). Total natural gas output from the seven regions tracked…