Oil

Fitch Ratings Inc. has substantially raised its Henry Hub and European natural gas price assumptions through 2022, citing “strong year-to-date prices, recovering demand and supply challenges.” “U.S. gas prices have…benefited from heightened weather-driven demand, as well as U.S. dry and associated gas production discipline,” the credit ratings analysts said, adding that liquefied natural gas (LNG)…

Ida came in like the major hurricane she was, temporarily reversing the course of the Mississippi River and shutting down nearly all of the natural gas and oil produced in the Gulf Mexico (GOM). The aftermath also is looking to be long and difficult as thousands of people may be without power into the fall.…

Associated natural gas production from U.S. onshore oil plays fell in 2020, marking the first year/year decline in output since 2016, the Energy Information Administration (EIA) said in a research note published Monday. Production of associated gas from the Permian and Anadarko basins, as well as from the Bakken, Eagle Ford and Niobrara shales, fell…

Natural gas and oil production is predicted to increase in September month/month in the seven key producing regions of the Lower 48, according to the Energy Information Administration (EIA).  The EIA’s monthly Drilling Productivity Report (DPR), issued on Monday, highlights forecast activity in the Anadarko, Appalachia and Permian basins, Bakken, Eagle Ford and Haynesville shales,…

The U.S. natural gas rig count dropped one unit to 102 for the week ended Friday (Aug. 13), while a surge in the oil patch drove a sharp increase in the combined domestic drilling tally, according to the latest figures from Baker Hughes Co. (BKR). Ten oil-directed rigs were added in the United States for…

The United States gained three drilling rigs for the week ending Friday (Aug. 6), all working in the Lower 48, according to Baker Hughes Co. (BKR).  There were 491 active rigs total in the U.S. onshore and Gulf of Mexico (GOM), compared with 247 for the same period of 2020. The weekly rig tally is…

Increased production and prices of all commodities propelled an improved performance by Canadian independent Tamarack Valley Energy Ltd. during the first six months of this year. As the Covid-19 pandemic faded, Tamarack oil and natural gas liquids production jumped by 37% to average 18,751 b/d during January through June this year. Natural gas output grew…

Global natural gas demand is forecast to recover and eclipse 2019 levels by the end this year, with liquefied natural gas (LNG) consumption set to climb in Asia, according to BP plc. The London-based integrated energy major delivered its second quarter results on Tuesday, offering a robust outlook for natural gas and oil, even as…

NGL Energy Partners LP on Friday launched a binding open season lasting through Aug. 9 for transport capacity on its 550-mile Grand Mesa Pipeline LLC crude oil conduit. From its starting point in Weld County, CO, Grand Mesa connects oil supply from the Denver-Julesburg Basin with the NGL Crude Cushing LLC storage terminal at Cushing,…