Oil And Gas

Mexico President Andrés Manuel López Obrador said during his Thursday morning press conference his government would continue to respect oil and gas laws and existing contracts in the country. He added, however, that if he were somehow unable to “rescue” national oil company Petróleos Mexicanos (Pemex) and state electricity firm Comisión Federal de Electricidad (CFE),…

The Permian Basin is the only one of the seven major producing areas of the Lower 48 forecast to see an increase in natural gas and oil output in October month/month, according to a forecast by the Energy Information Administration. In the monthly Drilling Productivity Report (DPR) issued on Monday, EIA researchers estimated that overall,…

As Lower 48 operators have slashed spending and activity, the Permian Basin has taken the biggest hit to well permitting, according to an analysis of August data by Evercore ISI. Overall permit activity fell nationwide by 28% in August month/month to 1,119 permits, according to the analyst team led by James West. Most of the…

The U.S. oilfield services (OFS) industry through August had lost more than 100,000 jobs since the coronavirus pandemic began eating away at oil and gas demand, according to the Petroleum Equipment & Services Association (PESA).  And the future remains a bit wobbly, according to PESA, which represents OFS operators involved in oilfield equipment manufacturing, drilling,…

Click here to listen to the latest episode of NGI’s Hub & Flow podcast in which NGI’s Mexico GPI senior editor Christopher Lenton talks to FTI energy consultant and El Economista columnist Pablo Zarate about the Mexico natural gas market. Lenton and Zarate discuss the status of liquefied natural gas projects, the state of energy…

Strength in numbers emerged Monday as a survival strategy for depressed fossil fuel prices and the Covid-19 pandemic among independent Canadian oil and gas firms as announcements of a merger and a proposal for a second pairing were made. Whitecap Resources Inc. and NAL Resources Ltd. made a corporate marriage deal valued at C$155 million…

President Trump is betting that, by touting deregulation and deriding his Democratic opponent as an extremist who will raise taxes and throw wrenches into oil and gas development, he will galvanize domestic energy industry support ahead of the November election. Culminating the Republican National Committee (RNC) convention Thursday night in Washington, DC, Trump claimed his…

Gains in natural gas-directed drilling offset a drop in oil activity to leave the U.S. rig count unchanged at 254 during the week ended Friday (Aug. 28), according to the latest data from oilfield services provider Baker Hughes Co. (BKR). The United States added three natural gas rigs and lost three oil rigs for the…

North American completions specialist BJ Services LLC filed for voluntary bankruptcy protection on Monday, indicating it is working with potential buyers for some of its assets as it restructures. The voluntary filing, one of now more than two dozen since the beginning of the year as Covid-19 sent energy demand spiraling, was made Monday in…