Oil And Gas

Lower 48 Permitting Stunted Overall in August, with Declines in New Mexico, Texas and Wyoming

Lower 48 Permitting Stunted Overall in August, with Declines in New Mexico, Texas and Wyoming

U.S. drilling permit activity slumped across the major Lower 48 basins in August, up sharply from a year ago but down from 2019 levels, according to Evercore ISI. The Evercore team led by analyst James West compiles a monthly report about drilling activity using state and federal data. Permits are usually requested by producers three…

September 8, 2021
Times are Tough, but Mexico’s Energy Sector Still Awash in Opportunities, Experts Say

Times are Tough, but Mexico’s Energy Sector Still Awash in Opportunities, Experts Say

Mexico’s energy sector has faced a difficult past three years which have seriously dented investor appetite, but the country still offers opportunities and the future could be bright, industry insiders said Tuesday at the Mexico Gas Summit hosted by Industry Exchange LLC in San Antonio, TX. The Woodrow Wilson International Center’s Duncan Wood said that…

September 7, 2021
Ida’s Path of Destruction Dogging Natural Gas, Oil Operations in Louisiana, Offshore

Ida’s Path of Destruction Dogging Natural Gas, Oil Operations in Louisiana, Offshore

Hurricane Ida may be long gone, but bitter memories of its torrid march through the Gulf of Mexico (GOM) and into the Lower 48 were slowing recovery efforts by the natural gas and oil industry. Producers that work offshore were struggling to return crews to platforms and rigs on Friday. Extensive damage in Louisiana’s Houma…

September 3, 2021
TC Energy Granted Insurance Privacy Shield for Natural Gas Pipes by Canada Regulator

TC Energy Granted Insurance Privacy Shield for Natural Gas Pipes by Canada Regulator

TC Energy Corp. has become the second Canadian pipeline firm to secure permission to keep secret the names of its insurance providers. In a Wednesday (Sept. 1) filing, the Canada Energy Regulator (CER) granted the privacy shield to TC for its natural gas lines: TransCanada PipeLines Ltd., Nova Gas Transmission Ltd., Foothills Pipe Lines Ltd.,…

September 3, 2021
U.S. Rig Count Plummets as GOM Falls to Zero Amid Ida Fallout, BKR Says

U.S. Rig Count Plummets as GOM Falls to Zero Amid Ida Fallout, BKR Says

A major hurricane and a corresponding dramatic pullback in offshore drilling numbers saw the overall U.S. rig count plummet 11 units to 497 for the week ended Friday (Sept. 3), according to the latest figures published by Baker Hughes Co. (BKR). Net changes in the United States included a 16-rig decrease in oil-directed drilling and…

September 3, 2021
Montney Producer Advantage Energy Boosts Capex to Accelerate Drilling

Montney Producer Advantage Energy Boosts Capex to Accelerate Drilling

Montney Shale producer Advantage Energy Ltd. is seeking to boost oil and natural gas output this winter after raising its capital spending target for 2021 amid improved commodity prices. The Calgary-based company said it was raising its capital guidance by $20 million to a range of $140 million-$150 million. Advantage plans on using the extra…

September 3, 2021
Pemex Ixachi, Quesqui Fields Missing Production Goals as Natural Gas Prices Soar

Pemex Ixachi, Quesqui Fields Missing Production Goals as Natural Gas Prices Soar

Mexico’s highly touted Ixachi and Quesqui natural gas fields are producing below their stated targets amid historically high natural gas prices, according to the latest data from upstream regulator Comisión Nacional de Hidrocarburos (CNH). Discovered in 2017 by state oil company Petróleos Mexicanos (Pemex), Ixachi had been forecasted to reach peak production of 638.5 MMcf/d…

September 1, 2021
Enerplus Skims Off Some Williston Oil, Gas Properties in $115M Sale

Enerplus Skims Off Some Williston Oil, Gas Properties in $115M Sale

Calgary-based Enerplus Corp. is selling off a small bundle of oil and natural gas interests in Montana and North Dakota for $115 million, but the Williston Basin remains a priority, the CEO said.   Stakes are being sold in Montana’s Sleeping Giant field and North Dakota’s Russian Creek area of the Williston, home to the Bakken…

September 1, 2021
Crude Futures Climb in Wake of Ida’s Destruction; Production, Pipeline and Refining Uncertainty Persists

Crude Futures Climb in Wake of Ida’s Destruction; Production, Pipeline and Refining Uncertainty Persists

Oil and natural gas companies scrambled on Monday to determine the extent of damage to refineries, pipelines and offshore platforms in the immediate aftermath of the former Hurricane Ida, which made landfall in Louisiana packing winds near 150 mph. Ida battered Louisiana Sunday night as a Category 4 hurricane, delivering storm surges and flooding rains.…

August 30, 2021
Texas Upstream Jobs Sector Expanding, but Threats from Delta Variant Looming

Texas Upstream Jobs Sector Expanding, but Threats from Delta Variant Looming

The Texas oil and natural gas industry through July had seen a continued uptick in job growth, particularly in the Houston area, but the deadly Delta variant of Covid-19 poses near-term threats. An employment analysis of the upstream sector by the Texas Independent Producers and Royalty Owners Association (TIPRO) showed a net increase of 1,500…

August 30, 2021