production

Canadian Natural Expands Natural Gas Production, Gains on Rise in Commodity Prices

Canadian Natural Expands Natural Gas Production, Gains on Rise in Commodity Prices

Calgary production giant Canadian Natural Resources Ltd. (CNRL) scored a comeback in the first three months of 2021, reversing losses inflicted a year earlier by Covid-19 and the slump in oil and gas prices. “As the global vaccine distribution increases and crude oil demand recovers, especially in the United States, we are seeing improved commodity…

May 7, 2021
Diamondback Sees No ‘Clear Signal’ to Boost Permian Output

Diamondback Sees No ‘Clear Signal’ to Boost Permian Output

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…

May 5, 2021
Another Small Drop for Natural Gas Futures Prices as Traders Await Fresh Storage Data

Another Small Drop for Natural Gas Futures Prices as Traders Await Fresh Storage Data

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…

April 21, 2021
NGI’s Hub & Flow Delves into the History and Future of North American Gas Market — Listen Now

NGI’s Hub & Flow Delves into the History and Future of North American Gas Market — Listen Now

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…

April 19, 2021
Continental May Exceed 2021 Oil, Natural Gas Production Guidance in Midcontinent as Net Debt Falls

Continental May Exceed 2021 Oil, Natural Gas Production Guidance in Midcontinent as Net Debt Falls

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…

April 14, 2021
Permian, Haynesville Growth Highlight EIA’s Latest Lower 48 Production Forecast

Permian, Haynesville Growth Highlight EIA’s Latest Lower 48 Production Forecast

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…

April 12, 2021
Brent to Average $65 in 2Q, Retreat to $61 in Second Half of 2021, EIA Says

Brent to Average $65 in 2Q, Retreat to $61 in Second Half of 2021, EIA Says

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…

April 7, 2021
Betting on Mounting Oil Demand, OPEC and Allies Agree to Boost Production

Betting on Mounting Oil Demand, OPEC and Allies Agree to Boost Production

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…

April 1, 2021
ConocoPhillips’ Lower 48 Oil, Natural Gas Prices and Production Strengthen in First Quarter

ConocoPhillips’ Lower 48 Oil, Natural Gas Prices and Production Strengthen in First Quarter

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…

March 31, 2021
Natural Gas Futures Forge Ahead as April Contract Rolls Off Board; Cash Prices Climb

Natural Gas Futures Forge Ahead as April Contract Rolls Off Board; Cash Prices Climb

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…

March 29, 2021
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