Houston-based Superior Energy Services Inc., which makes its mark in the U.S. onshore with its pressure pumping services and specialized drilling, said a lack of direction regarding overall spending plans by producers and “supply chain stress” have created some uncertainty about the outlook for 2018.
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During the first two weeks that Southern California Gas Co. (SoCalGas) began reinjection operations at its troubled Aliso Canyon natural gas storage facility, the company discovered a gradual pressure buildup at 13 of the 39 injection wells that had been brought back online.
Even as supplies tighten, ample production from U.S. unconventional drilling will pressure commodity prices for years to come, ExxonMobil Corp. CEO Rex Tillerson said Wednesday.
November natural gas is set to open 3 cents lower Friday morning at $2.93 as traders focus on at least another weak of light demand. Overnight oil markets fell.
Calgary-based Trican Well Service Ltd. said late Tuesday it is negotiating to sell its U.S. pressure pumping business to Houston’s Keane Group for an undisclosed amount.
Separate federal and state probes are now underway in California as the Aliso Canyon underground natural gas storage well leak continues to draw the spotlight. The leaking well in the foothills northwest of downtown Los Angeles has officials focusing on unanswered questions regarding the volumes of methane escaping into the atmosphere and the extent to which over-pressurization led to the well failure.
North American onshore pressure pumping pricing has deteriorated to an “unsustainable level,” and the U.S. rig count is going to decline even more into 2016, Patterson-UTI Energy Inc. (PTEN) management said Thursday.
A unit of Patterson-UTI Energy Inc. is growing its Gulf Coast region operations by acquiring pressure pumping assets that will support activities in the Eagle Ford and Haynesville shales.
October natural gas is set to open unchanged Thursday morning at $4.01 as traders get set to factor in another balloon-like addition to natural gas inventories that is expected to be well above historical averages. Overnight oil markets were mixed.
It may not look like much, but a broad area of low pressure tracking over southern Florida Friday may have the potential to strengthen and move toward natural gas infrastructure along the Gulf Coast early next week, according to one forecaster.