Amid a ramp-up in both oil- and natural gas-directed drilling, the United States added five rigs to raise its tally to 484 during the week ended Friday (July 16), according to the latest count from Baker Hughes Co. (BKR). Three natural gas-directed rigs and two oil-directed rigs were added domestically during the week. The U.S.…
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Crestwood Reports Strong 1Q Results, Growing Activity in Bakken, Permian, Powder River
Crestwood Equity Partners LP is on track to achieve its 2021 planned guidance and reduce debt after a strong operating quarter, particularly in the Bakken Shale, where higher commodity prices led to double-digit volume growth year/year. The Houston-based midstreamer also closed on one of several strategic transactions aimed at simplifying the corporate structure. The deals…
Foothills Exploration Views Natural Gas as ‘Integral,’ but Energy Transition Projects Also Key
California-based oil and gas explorer Foothills Exploration Inc. is forming New Energy Ventures LLC to participate in the transitioning energy sector. The main focus of the new subsidiary is on alternative power generation and oilfield applications. According to Foothills, New Energy Ventures plans to partner with management teams to develop sustainable and low-carbon technologies. The…
Natural Gas Rigs Down One in U.S. as Oil Count Surges by Double Digits
The U.S. natural gas rig count eased one unit lower to 91 for the holiday-shortened week ended Thursday (April 1), while a spring surge in the oil patch sent the overall domestic tally higher by double digits, according to data published by Baker Hughes Co. (BKR). Thirteen oil-directed rigs were added in the United States,…
Chevron’s Integration with Noble Midstream Looks to Expand Activity in Colorado’s DJ
Colorado’s Denver-Julesburg (DJ) Basin is expected to take the bulk of midstream activity in 2021 by a new affiliate created between Noble Midstream Partners LP and Chevron Corp. Houston-based Noble Midstream said Tuesday it had successfully integrated into a new Chevron affiliate. The integration followed Chevron’s completed merger in October with Noble Energy Inc. “Noble…
Colorado’s Ambitious GHG Reduction ‘Roadmap’ Targeting Energy, Transport Sector Emissions
Colorado is proposing a Greenhouse Gas (GHG) Pollution Reduction Roadmap for the next decade, with fossil fuel use by cars and methane emissions from oil and gas operations squarely in the crosshairs. The draft plan issued Wednesday targets a 26% reduction in total GHG pollution from 2005 levels by 2025, and a 50% reduction by…
Ultra Emerges as a Private Wyoming Natural Gas Explorer with New Brand
Long-time Lower 48 natural gas producer Ultra Petroleum Corp. has emerged from Chapter 11 with a new name and as a private operator, still focused on Wyoming prospects. The Englewood, CO-based producer in May filed for Chapter 11 protection for the second time in four years to eliminate debt exacerbated by low prices and stinging…
Oxy Takes $1.3B for Western Properties, Propels Permian Carbon Capture Project Forward
Occidental Petroleum Corp. on Wednesday padded its bottom line with a big deal to sell a bundle of western properties, while boosting another venture to develop a massive carbon capture facility in its No. 1 Lower 48 play, the Permian Basin. The Houston-based independent, better known as Oxy, agreed to sell some Colorado, Utah and…
Citing Threats to Grouse and Climate, Enviros Sue BLM to Scrap Colorado Drilling Plan
A coalition of environmental groups has filed a lawsuit to jettison a federal plan that would allow oil and gas drilling on public lands in southwestern Colorado. The six western U.S. groups filed the lawsuit against the Department of Interior’s Bureau of Land Management (BLM) in U.S. District Court in Denver. The plaintiffs claim that…
Bonanza Creek, Highpoint Lift DJ Basin Volumes, Rein in Capex Amid Price Pressures
A pair of prominent oil and gas companies active in the Denver-Julesburg Basin (DJ) are keeping capital expenditures (capex) in check while posting modest upticks in sales volumes. Bonanza Creek Energy Inc. and Highpoint Resources Corp., both based in Denver, reported substantial second-quarter losses, however, dinged by lower sales prices in the wake of the…