Oil And Gas

The U.S. natural gas rig count picked up one unit to finish at 118 for the week ended Friday (Nov. 3), while a slowdown in oil-directed drilling dropped the combined domestic count seven units to 618, according to the latest numbers published by Baker Hughes Co. (BKR). Total domestic oil rigs declined by eight to…

ConocoPhillips on Thursday boosted its oil and natural gas production guidance for the remainder of the year and said it expects to spend more now that it has taken full control of the Surmont oilsands site in Alberta.  Full-year oil and natural gas production is now expected to come in at 1.82 million boe/d, up…

International markets including Latin America are now showing more robust upstream activity growth than North America, according to the top oilfield services firms. The management teams of SLB, Halliburton Co., Baker Hughes Co. and Weatherford International plc said exploration and production (E&P) projects outside of North America, particularly in the offshore segment, drove incremental revenues…

Mexico’s state oil company Petróleos Mexicanos (Pemex) held natural gas and oil production steady in the third quarter, but low commodity prices and foreign exchange effects drove another multibillion-dollar loss. Natural gas production averaged 3.959 Bcf/d during 3Q2023, up slightly from 3.88 Bcf/d averaged in 3Q2022, the 100% state-owned firm reported. Crude oil production averaged…

The U.S. natural gas rig count eased one unit lower to 117 for the week ending Friday (Oct. 27), while a modest bump in oil drilling lifted the combined domestic tally one unit overall to 625, according to the latest numbers published by Baker Hughes Co. (BKR). Land drilling increased by one unit for the…

Shareholders of Chevron Corp. and Hess Corp. are largely enthusiastic about the pending $53 billion merger, according to Chevron CEO Mike Wirth. He hosted a conference call Friday to discuss the San Ramon, CA-based supermajor’s third quarter earnings.  Chevron and Hess recently announced the blockbuster deal, which would give Chevron a foothold in the multibillion-barrel…

Appalachian-focused Range Resources Corp. plans to maintain natural gas and natural gas liquids (NGL) production into next year using hedging and efficiencies to capture the forecast surge in demand as Gulf Coast LNG export facilities start up next year. The management team held a conference call to discuss the latest results and the expected growing…

The United States government could request a panel process by February to settle the ongoing energy dispute with Mexico over practices that are considered to be in violation of the U.S.-Mexico-Canada-Agreement, or USMCA. This is according to Vanessa Sciarra, vice president of Trade and International Competitiveness at the American Clean Power Association (ACP), who spoke…

The global energy sector is benefiting today from long-cycle developments, SLB CEO Olivier Le Peuch said Friday, lifted by more carbon capture expansions, offshore exploration and the realization that “natural gas is a critical source for the energy transition.” During a third quarter conference call, Le Peuch offered his insight into results for the world’s…