production

Lower 48 Oil Well Productivity Stumbling, Pointing to Bullish Prices in 2021, Says Raymond James

Lower 48 Oil Well Productivity Stumbling, Pointing to Bullish Prices in 2021, Says Raymond James

U.S. liquids supply growth may struggle to grow more than 500,000 b/d a year as Lower 48 well productivity, particularly in the Permian Basin, declines, according to research by Raymond James & Associates Inc. The analyst team led by Marshall Adkins on Monday said its current base case production forecast for the United States assumes…

August 3, 2020
Southwestern Focused on Dry Natural Gas Production as Prices Seen Increasing

Southwestern Focused on Dry Natural Gas Production as Prices Seen Increasing

Southwestern Energy Co. shifted toward producing more dry natural gas in the second quarter as it anticipates a rebound in prices as the winter nears.  The company had been focused on the wet gas window in West Virginia, but shifted more rigs to Northeast Pennsylvania with planned well counts now divided equally between the two…

August 3, 2020
Mexico Natural Gas Prices, Production Fall in June as Pipeline Imports Rise

Mexico Natural Gas Prices, Production Fall in June as Pipeline Imports Rise

Natural gas prices in Mexico averaged $2.33/MMBtu in June, versus $2.78/MMBtu in June 2019, according to the latest IPGN monthly natural gas price index published by the Comisión Reguladora de Energía (CRE). Marketers transacted 5.88 Bcf/d of the molecule, compared to 7.37 Bcf/d in the year-ago month, CRE data show. CRE used 255 transactions from…

August 3, 2020
Appalachian Stalwart Cabot Sees Natural Gas Outlook Improving as Winter Nears

Appalachian Stalwart Cabot Sees Natural Gas Outlook Improving as Winter Nears

Cabot Oil & Gas Corp. is cautiously optimistic that the natural gas market will improve as winter draws nearer, following a second quarter in which it weathered the ongoing downturn.  “We anticipate that the improving demand outlook for natural gas, in conjunction with accelerated structural declines in supply resulting from significant activity cuts across all…

July 31, 2020
Antero, CNX Sticking to Appalachian Plans as Little Seen Changing for Natural Gas Prices in 2020

Antero, CNX Sticking to Appalachian Plans as Little Seen Changing for Natural Gas Prices in 2020

Appalachian pure-plays Antero Resources Corp. and CNX Resources Corp. said Thursday their activity would remain subdued through most of the year as they work to implement plans crafted  by Covid-19’s impacts on energy markets.  CNX, which announced both liquids and dry gas production shut-ins in April in response to low commodity prices, has yet to…

July 31, 2020
Natural Gas Forward Prices Fueled by Heat, Improving Export Outlook and Lower Production Trajectory

Natural Gas Forward Prices Fueled by Heat, Improving Export Outlook and Lower Production Trajectory

Natural gas traders couldn’t bear the scorching temperatures any longer, as heat indexes surged above 100 degrees across the United States and boosted forward prices for the July 23-29 period, according to NGI’s Forward Look. With the prospect of improving export demand and lower gas production in the months ahead, prices for the winter and…

July 30, 2020
Shell’s LNG, Oil Demand Plunges in Covid-19 Rout, with Energy Impacts Still Uncertain

Shell’s LNG, Oil Demand Plunges in Covid-19 Rout, with Energy Impacts Still Uncertain

Royal Dutch Shell plc swung to a massive loss in 2Q2020, torn down by a historic loss in natural gas and oil demand, with CEO Ben van Beurden warning the long-term energy outlook remains uncertain as long as the global pandemic wreaks economic havoc. The Anglo-Dutch supermajor said the 2Q2020 current cost of supplies (CCS),…

July 30, 2020
Don’t Mess with Texas Oil and Natural Gas, Trump Tells Permian Crowd

Don’t Mess with Texas Oil and Natural Gas, Trump Tells Permian Crowd

President Trump rallied West Texas oil and natural gas workers on Wednesday afternoon during a visit to Midland, in the heart of the Permian Basin, touting American energy dominance and claiming the industry is not only back on track but expanding. The campaign speech of sorts came during a brief visit after the president toured…

July 30, 2020
Hess Sees Bakken Oil Production Climb 26% in 2Q

Hess Sees Bakken Oil Production Climb 26% in 2Q

Hess Corp. saw net production from its acreage in the Bakken Shale increase to 194,000 boe/d in the second quarter compared with 140,000 boe/d in the prior-year quarter, with net oil output up 26% to 108,000 b/d. The New York City-based independent attributed the performance to increased wells online and improved well performance. Total second…

July 30, 2020
National Oilwell Sees Opportunities Amid Mayhem as E&Ps Prize Efficiencies, ‘ESG-Friendly’ Equipment

National Oilwell Sees Opportunities Amid Mayhem as E&Ps Prize Efficiencies, ‘ESG-Friendly’ Equipment

Covid-19’s impact on demand has tossed aside forecasts for the oil and gas industry, but there’s still a solid future for the fossil-fueled world, the chief of National Oilwell Varco Inc. (NOV) said Tuesday. During a conference call to discuss second quarter performance, CEO Clay Williams said the downturn from the coronavirus is unlike anything…

July 28, 2020