Oil And Gas

The U.S. natural gas rig count climbed two units to 118 for the week ending Friday (Oct. 6), while a pullback in oil-directed drilling lowered total domestic rigs by four to 619, according to the latest tally from Baker Hughes Co. (BKR). The U.S. oil rig count fell by five to 497 for the period,…

ExxonMobil is signaling it will post stronger results during the third quarter because of higher commodity prices, while rival Shell plc also is expecting rebounding profits but lower LNG output because of scheduled maintenance. In Form 8-K filings with the U.S. Securities and Exchange Commission, the integrated majors outlined their projections for the third quarter,…

The U.S. natural gas rig count eased two units lower to 116 for the week ending Friday (Sept. 29), while declines in the oily Permian Basin sent the combined domestic tally tumbling seven units overall to 623, according to the latest count from Baker Hughes Co. (BKR). Oil-directed drilling declined by five in the United…

Pro-business opposition candidate Xóchitl Gálvez of Mexico’s Frente Amplio coalition could give Claudia Sheinbaum of the ruling Morena party a run for her money in the country’s 2024 presidential election, according to Rice University’s Tony Payan. Payan, who directs the Center for the United States and Mexico at Rice’s Baker Institute for Public Policy, broke…

Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process. As Mexico prepares for its presidential elections next June, it is no exaggeration to say that the nation is at a crossroads…

The U.S. oil and gas rig count pulled back sharply during the week ending Friday (Sept. 22), falling 11 units to 630 amid notable losses in the Permian Basin and the Haynesville Shale, according to the latest Baker Hughes Co. (BKR) data. A three-rig decline in natural gas rigs domestically partially reversed an eight-rig increase…

Regulators in Mexico approved a modified development plan submitted by state oil company Petróleos Mexicanos (Pemex) for the Maloob shallow water field. Pemex expects capital expenditures (capex) to total $9.8 billion between 2023 and 2034 at Maloob, which is part of the Ku-Maloob-Zaap complex. Operating expenditures are expected to reach $4.36 billion, bringing total investment…

After a three-year wait, the U.S. Army Corps of Engineers has released a draft environmental impact statement (EIS) for the Dakota Access Pipeline (DAPL), marking another chapter in the drawn-out fight over a pipeline that began flowing Bakken Shale crude in 2017. The Army Corps prepared the EIS in response to a 2020 court decision…

“Bid rounds, including farmouts, can bring new investment, new ideas and new technology while creating diversity in energy resources and supply options. Of course, it is Mexico’s full right to develop its energy resources as it chooses,” Chris Sladen, a decorated executive of the international energy industry, told NGI’s Mexico GPI. “I also think there…