production

North Dakota Oil, Natural Gas Production Climb in April

North Dakota Oil, Natural Gas Production Climb in April

North Dakota exceeded its monthly production level projections for April, but it may be losing its bragging rights to New Mexico as the second largest oil producing state. Oil production was up 1% in April month/month to 33.6 million bbl, or 1.126 million b/d. Natural gas output grew at a 3.1% rate to 88.89 Bcf,…

June 16, 2021
New Mexico Topples Natural Gas, Oil Production Records in March

New Mexico Topples Natural Gas, Oil Production Records in March

New Mexico, which shares a prolific slice of the Permian Basin with Texas, in March produced the most natural gas and oil production on record, the Energy Information Administration (EIA) reported. Oil output averaged 1.16 million b/d in March, while gas production climbed to 6.19 Bcf/d, EIA researchers led by Emily Geary noted.  The increases…

June 16, 2021
Natural Gas Futures Prices Soar as June Setting Up to be Hottest on Record

Natural Gas Futures Prices Soar as June Setting Up to be Hottest on Record

With a flip of the calendar and a notably warmer outlook for June, natural gas futures prices roared back after the Memorial Day holiday weekend. A sharp decline in supply — though seen as possibly temporary — also influenced pricing, with the July Nymex futures contract settling Tuesday at $3.104/MMBtu, 11.8 cents higher than Friday’s…

June 1, 2021
Vine Energy CEO Says Haynesville Primed for ‘Improving Natural Gas Fundamentals,’ Exports

Vine Energy CEO Says Haynesville Primed for ‘Improving Natural Gas Fundamentals,’ Exports

As U.S. natural gas demand improves, Vine Energy Inc. expects its production in Northwest Louisiana to increasingly be sourced for overseas exports, the company’s CEO said Monday. The Plano, TX-based independent in the spring of 2021 took the company public to secure more investor interest in its 227,000 net acre stronghold in the Haynesville and…

May 19, 2021
North Dakota Reports Higher Natural Gas Production, Lower Flaring in March

North Dakota Reports Higher Natural Gas Production, Lower Flaring in March

Natural gas production outpaced oil in North Dakota’s Bakken Shale during March, according to the state Dakota Department of Mineral Resources (DMR). Gas production was 89.2 Bcf (2.8 Bcf/d), compared to 75.7 Bcf (2.7 Bcf/d) in February. Oil production totaled 34.3. million bbl (1.1 million b/d) from 30.3 million bbl (1.08 million b/d).  The state…

May 17, 2021
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