Producers

Oil and natural gas operations on Wednesday remained untouched by a series of wildfires raging in Colorado, industry representatives told NGI’s Shale Daily.

The United States will become the world’s top producer of oil and natural gas over the next several decades, but China and India will lead a host of developing countries in embracing clean energy technologies for power generation as costs for renewables continue to decline.

With single-digit lows continuing and forecasts calling for temperatures to plunge below zero on Friday and Saturday in the Pittsburgh region, small and large Appalachian natural gas producers were grappling with frigid temperatures in different ways.

With so much new supply hitting the market over the next few years, and with incremental demand from the Gulf Coast, natural gas producers haven’t seen the last of widening basis differentials, according to RBN Energy LLC’s Rusty Braziel.

Producers that have been awarded blocks in Mexico’s historic oil and natural gas upstream auctions should not rest on their laurels, said Talos Energy LLC CEO Tim Duncan.

Oil-directed drilling in the Permian Basin is creating yet another natural gas glut that could keep prices lower for longer and threaten industry growth across the country.

Canadian natural gas producers will cut but not eliminate financial losses until late 2018 as stiff competition continues from U.S. unconventional supply sources, a private Ottawa-based business research agency predicted Monday.

Pennsylvania Republican state Sen. Scott Hutchinson circulated a memo last week seeking co-sponsors for legislation that would redraft the Oil and Gas Act of 1984 to clarify its language and address the current challenges facing legacy producers that operate under it.

Producers and their oil service brethren, looking to nourish their balance sheets after wandering in a price wasteland for two years, are receiving manna for equity offerings from the unlikely source of the oil price debacle in late 2014, the Organization of the Petroleum Exporting Countries (OPEC).