Oil And Gas

Exploration and production (E&P) contracts awarded through Mexico’s 2013-2014 energy reform remain on track to reach pre-pandemic oil and natural gas output targets, according to the Asociación Mexicana de Empresas de Hidrocarburos (Amexhi), a local oil and gas trade organization. The group is aiming for natural gas production of 355 MMcf/d and oil output of…

The oilfield services (OFS) market could lose as much as $340 billion total for the value of purchases over the next eight years, particularly in unconventional plays, as oil and gas investments decline and consumption slows, according to Rystad Energy. Researchers now expect peak oil demand to “arrive earlier and at a lower level than…

Not for the first time, private sector energy leaders are holding high-level talks with senior officials of the current Mexican government in an effort to boost investment in oil, gas and power. This comes after Mexico’s government announced five energy projects worth $5 billion as part of a new public-private infrastructure plan. Four of the…

Pennsylvania regulators are moving ahead with regulations for conventional oil and natural gas producers, with tentative plans to unveil the rulemaking package next year as legislative efforts continue to fail.  The Republican-controlled general assembly sent another bill last week to establish regulations for legacy exploration and production (E&P) operators to Democratic Gov. Tom Wolf, who…

The Colorado Oil and Gas Conservation Commission (COGCC) has completed hearings to address sweeping changes to its mission, from “fostering” to “regulating” the industry.   The changes, which among other things also address wildlife mitigation impacts, were required by the state Senate Bill (SB) 19-181 signed into law last year. Hearings began in August to address…

North Dakota officials estimate that 25% of the Bakken Shale’s output could be negatively impacted by a change in energy policy under President-elect Joseph R. Biden Jr., threatening the 7,000 state-drawn, two-square-mile spacing units that contain all of the state’s future drilling sites. Nearly half (48%) of those units include federal-owned land and/or mineral rights,…

Bankruptcies in the North American oil and gas industry slowed to a total of three in October, but more filings are likely before year’s end, according to the latest monthly Oil Patch Bankruptcy Monitor report published Tuesday by Haynes and Boone LLP. “While the pace of bankruptcy filings for producers has slowed from the wave…

A federal district judge has again sent the Interior Department’s Bureau of Land Management (BLM) back to the drawing board on an environmental review of oil and gas leasing in Wyoming, citing inadequate consideration of climate change impacts. In a ruling filed late last week, Judge Rudolph Contreras of the U.S. District Court for the…

High global oil inventory levels and surplus production capacity will keep Brent crude prices near $40/bbl through the end of the year, with prices expected to climb to an average $47/bbl in 2021, according to a recent forecast from the Energy Information Administration (EIA). According to the agency’s latest Short-Term Energy Outlook (STEO), published Tuesday,…