Oil And Gas

Comstock Resources Inc. plans to fund a boost in completions activity at its Haynesville Shale assets in Louisiana and Texas using the proceeds from selling properties in North Dakota. The Frisco, TX-based independent said Thursday it would exit the Bakken Shale, selling its assets to Northern Oil & Gas Inc. for $154 million in cash.…

Energy shortages and price spikes suggest the world needs more oil to meet global needs in the near term. Just how much more – and how quickly – remains a moving target. With Lower 48 producers hesitant to boost output in the pandemic’s wake, the Organization of the Petroleum Exporting Countries (OPEC) and its allies,…

Ever since coming to power at the end of 2018, Mexico President Andrés Manuel López Obrador has promised to kill the energy reform of his predecessor Enrique Peña Nieto. With his recent proposal to drastically overhaul the energy sector through a constitutional amendment, is this on the cusp of happening? Analysts at political risk group…

Citing rising global energy needs, the Organization of the Petroleum Exporting Countries (OPEC) and its allies on Monday affirmed a plan to increase crude production through November. The cartel stopped short of further boosting output levels, however, a decision that fueled supply concerns and sent oil futures to seven-year highs. OPEC, led by Saudi Arabia,…

Solid growth continued across some of the biggest oil and natural gas production regions in the country during the third quarter, but supply costs are rising and executives are a bit more wary than earlier this year, the Federal Reserve Bank of Dallas said Wednesday. The Dallas Fed, as it is known, collected data across…

Privately held Chisholm Energy Holdings LLC plans to install air emissions monitors at some Permian Basin production facilities in southeastern New Mexico as it works toward becoming certified by Project Canary. Sponsored by Warburg Pincus and Ontario Teachers’ Pension Plan, the Permian exploration and production (E&P) company expects to become the first independent working in…

The U.S. natural gas rig count went unchanged at 99 during the week ended Friday (Oct. 1), while increased activity in the oil patch lifted the combined domestic tally seven units to 528, according to the latest figures from Baker Hughes Co. (BKR). Total domestic oil-directed rigs rose seven units to 428 for the week.…

Increased drilling activity in the Permian Basin and in the Gulf of Mexico (GOM) helped lift the U.S. rig count seven units higher to 528 for the week ended Friday (Oct. 1), according to the latest numbers from Baker Hughes Co. (BKR). The total number of natural gas-directed rigs operating domestically was unchanged for the…

U.S. independents Cimarex Energy Co. and Cabot Oil & Gas Corp. have completed their closely watched merger, bringing together more than 700,000 net acres across the Marcellus Shale and the Permian and Anadarko Basins. The previously announced transaction was completed on Friday after both companies’ shareholders approved it earlier this week. The combined company operates…