Fieldwood Energy LLC expects to be producing 30,000 b/d of light oil at two offshore Mexico fields by the end of the year, Andrés Brügmann, Mexico country manager, told NGI’s Mexico GPI. “The Pokoch and Ichalkil platforms should start producing in September…in the future we expect the project to reach 100,000 b/d and be one of the…
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Natural Gas Rig Count Flat as Oil Drilling Stays on Growth Trajectory
The U.S. natural gas rig count remained unchanged at 97 during the week ended Friday (Aug. 27), while the oil patch kept its growth trend intact, according to the updated figures from Baker Hughes Co. (BKR). The overall U.S. count rose five units to 508 for the week, with oil rigs added on land accounting…
Oil Patch Keeps Uptrend Intact as U.S. Adds Five Rigs in Latest Count
U.S. land drillers turned in another week of gains thanks to continued expansion in the oil patch, according to the latest Baker Hughes Co. (BKR) tally, which showed the overall domestic rig count rising five units to 508 as of Friday (Aug. 27). Oil rigs added on land accounted for the entirety of the net…
China’s Sinopec, CNPC Discover More Oil, Natural Gas Resources
China Petroleum & Chemical Corp., aka Sinopec, has reportedly announced another oil and natural gas discovery in the Tarim Basin. The state-owned company said on Chinese social media that it had discovered 100 million tons of oil and gas resources in the legacy-producing region, according to Reuters. That’s roughly the equivalent of 733 million bbl…
Pemex CEO Says Production Partially Restored After Fatal Offshore Fire, as Two Workers Remain Missing
Mexican state oil company Petróleos Mexicanos (Pemex) had restored 71,000 b/d of the roughly 421,000 b/d of oil production knocked offline by a fatal offshore platform fire as of Tuesday evening, according to CEO Octavio Romero Oropeza. In a video message posted late Tuesday night, Romero said Pemex expected to restore an additional 110,000 b/d…
Pemex Gulf of Mexico Platform Fire Leaves Five Dead, Two Missing
Petróleos Mexicanos (Pemex) CEO Octavio Romero Oropeza said five people died and two people remained missing as of Monday afternoon following a fire on the E-Ku-A2 platform in the Gulf of Mexico. The incident occurred Sunday afternoon in the Ku, Maloob and Zaap (KMZ) megafield. Oropeza said an investigation was underway to determine its cause.…
Pandemic’s Buoyancy Raises New Concerns About U.S. Natural Gas, Oil Demand
The economic impact of the Covid-19 Delta variant already threatens demand for oil and could dampen consumption of U.S. natural gas, particularly exports to Asia, if new restrictions imposed to slow the virus’ spread in China drag deep into 2021. In the United States, overall case totals and hospitalizations remain lower than the highs reached…
Matador Reports Record Permian Natural Gas, Oil Production and Accelerates Well Completions
Matador Resources Co. reported record natural gas, oil and total oil equivalent production during the second quarter, driven by “better-than-expected” performance of 13 new wells in the New Mexico portion of the Permian Basin, according to CEO Joseph Foran. Natural gas production rose 23% sequentially to about 239.1 MMcf/d, while oil output was up 28%…
U.S. Natural Gas Rig Count Drops Five as Oil Drilling Rises
The U.S. natural gas rig count fell five units to finish at 97 for the week ended Friday (Aug. 20), but a surge in oil-directed drilling drove an overall net gain in domestic drilling activity, according to the latest figures from Baker Hughes Co. (BKR). Eight oil-directed rigs were added in the United States for…
Oil Surges, Natural Gas Subsides in Baker’s Latest U.S. Rig Count
After a week of retrenchment in the U.S. natural gas patch, offset by further gains in oil-directed drilling, the combined domestic rig count rose three units to reach 503 as of Friday (Aug. 20), according to the latest figures from Baker Hughes Co. (BKR). Eight oil-directed rigs were added in the United States for the…