production

Natural Gas Production Growth From U.S. Onshore Expected in February, EIA Says

Natural Gas Production Growth From U.S. Onshore Expected in February, EIA Says

U.S. onshore plays are set to increase both natural gas and oil output from January to February, with the gains set to follow a further drawdown in drilled but uncompleted (DUC) wells to close out 2021, according to updated modeling from the Energy Information Administration (EIA). Natural gas production from seven key U.S. producing regions…

January 19, 2022
Lower 48 to Grow Oil, Natural Gas Output in February; DUCs Draw Down in Late 2021

Lower 48 to Grow Oil, Natural Gas Output in February; DUCs Draw Down in Late 2021

U.S. onshore plays are set to increase both natural gas and oil output from January to February, with the gains set to follow a further drawdown in drilled but uncompleted (DUC) wells to close out 2021, according to updated modeling from the Energy Information Administration (EIA). Natural gas production from seven key U.S. producing regions…

January 18, 2022
Triple-Digit Storage Withdrawal Fails to Impress Natural Gas Futures Traders

Triple-Digit Storage Withdrawal Fails to Impress Natural Gas Futures Traders

The U.S. Energy Information Administration (EIA) reported a pull of 179 Bcf natural gas from storage for the week ended Jan. 7, the largest so far this winter and in line with expectations. Nymex natural gas futures, already down in morning trading following a four-day rally, held deep in the red after the print. Ahead…

January 13, 2022
Investing in Oil, Natural Gas Paramount as Energy Mix Transitions, Says Yergin

Investing in Oil, Natural Gas Paramount as Energy Mix Transitions, Says Yergin

Nations may be working to transition to net-zero carbon, but recent events prove that it will be decades before oil and gas are replaced by alternative energies, according to IHS Markit Vice Chairman Daniel Yergin.

January 11, 2022
Southeast Asian Oil and Gas Production Likely to Remain Under Pressure for Years to Come

Southeast Asian Oil and Gas Production Likely to Remain Under Pressure for Years to Come

The dip in oil and gas production that Southeast Asia has seen since 2020 is exacerbating a downward trend in regional volumes that may continue into the decade ahead, according to a recent industry analysis. Analysts with Rystad Energy recently predicted that the region’s combined oil and gas production would likely not push above the…

January 5, 2022
Apache Prioritizing Egypt’s Oil, Natural Gas with Updated Production Contracts

Apache Prioritizing Egypt’s Oil, Natural Gas with Updated Production Contracts

Egypt’s importance to the portfolio of APA Corp. is advancing after the Houston independent and its Chinese partner secured updated production sharing contracts (PSC). The PSCs between exploration unit Apache Corp., 66% owner, and minority joint venture (JV) partner China Petrochemical Corp., aka Sinopec, consolidated 90% of gross production into a single concession and refreshed…

December 28, 2021
Fueled by Vaca Muerta, Argentina Oil, Natural Gas Production Riding Hot Streak

Fueled by Vaca Muerta, Argentina Oil, Natural Gas Production Riding Hot Streak

Argentina continues to ramp up its oil and gas production amid high prices and a push from the government to increase output. November oil production was up 15% year/year to 557,000 b/d, the highest monthly figure in nine years, Energy Secretary Darío Martínez said recently. The improvement is mainly because of the Vaca Muerta formation…

December 27, 2021
North Dakota Oil, Natural Gas Production Slips in October

North Dakota Oil, Natural Gas Production Slips in October

Oil and natural gas production in North Dakota, home to the Bakken Shale, slipped in October versus September. Department of Mineral Resources (DMR) director Lynn Helms issued the monthly Director’s Cut on Friday, which provides information about all of the wells capable of producing, as well as permit activity. Natural gas production in October averaged…

December 20, 2021
Oilsands Specialist Suncor Targeting 5% Production Growth in 2022

Oilsands Specialist Suncor Targeting 5% Production Growth in 2022

With a vow to focus on efficiency, Suncor Energy Inc. set 2022 performance targets of 5% production growth while cutting capital expenditures by 6%. The 2022 corporate budget aims for combined oil and natural gas output of 750,000-790,000 boe/d. Spending goes down by C$300 million ($240 million) to C$4.7 billion ($3.76 billion). “We enter 2022…

December 20, 2021
Colorado Oil, Natural Gas Activity Rising, But Employment Still at 15-Year Low

Colorado Oil, Natural Gas Activity Rising, But Employment Still at 15-Year Low

Colorado’s overall employment should return to pre-pandemic levels for 2022, but the state’s natural gas and oil sector will likely lag behind other industries in regaining jobs, according to a new report from the University of Colorado Boulder (CU Boulder). “Improved prices are clearly what’s driving more drilling and increased production,” Richard Wobbekind, associate dean…

December 13, 2021
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