production

Diamondback Energy Inc. CEO Travis Stice said until there’s a “clear signal” to increase oil output, there are no plans to expand volumes this year in the Permian Basin. Stice and his management team discussed first quarter performance and the outlook for the oil and gas market during a conference call. The CEO pointed to…

Natural gas futures continued to peel back midweek as production ticked higher and export demand retreated. Staring down a softer storage injection week/week, traders sent the May Nymex futures contract down another 3.5 cents to $2.692. June slipped 2.7 cents to $2.776. Spot gas prices also declined across most of the country, but dollar-plus gains…

Click here to listen to a new episode of NGI’s Hub & Flow podcast. NGI’s Christopher Lenton, senior editor for Mexico and Latin America, spoke to Mercuria Energy Co.’s Charles Blanchard in the latest episode. Blanchard, head of North American natural gas research, recently published an exhaustive study on the history of natural gas in…

Continental Resources Inc. said Tuesday it is on track to meet or exceed its 2021 full-year oil and natural gas production guidance. The Oklahoma City-based exploration and production (E&P) company also indicated that it has lowered its total debt by 10% since the end of 2020. In an update ahead of its 1Q2021 earnings call…

Despite projected gains from the Permian Basin and Haynesville Shale, overall natural gas production from seven key U.S. onshore regions is set to decline from April to May, according to updated figures released Monday by the U.S. Energy Information Administration (EIA). Total output from the seven regions — the Anadarko, Appalachia and Permian basins, as…

After rising $3/bbl in March on demand optimism, Brent crude oil prices are set to average $65.00 in the second quarter of 2021, according to updated projections from the U.S. Energy Information Administration (EIA). Brent rose to $65.00 in March amid expectations for oil demand to grow on higher Covid-19 vaccination rates and increased global…

The Organization of the Petroleum Exporting Countries and its allies, aka OPEC-plus, agreed on Thursday to ramp up crude production in anticipation of increased demand. The shift comes despite elevated uncertainty about the coronavirus pandemic and its still festering impacts on global travel and economic activity. Saudi Arabia-led OPEC and an allied group of leading…

Houston-based ConocoPhillips said Wednesday its commodity prices climbed, and oil and gas production was more than 29% higher in the first quarter than the final three months of last year as energy demand rose. In an interim update as the first quarter drew to a close, the world’s largest independent said production in 1Q2021 averaged…

Natural gas futures gained ground Monday. April closed out its run as the prompt month amid forecasts for light domestic demand but robust export volumes. The April Nymex contract settled at $2.586/MMBtu, up 2.9 cents day/day. May, which becomes the prompt month on Tuesday, advanced 3.4 cents to $2.653. NGI’s Spot Gas National Avg. gained…