Texas

BKV Looking to Expand Further after $430M Texas Natural Gas Power Plant Deal

BKV Looking to Expand Further after $430M Texas Natural Gas Power Plant Deal

Natural gas exploration & production (E&P) company Banpu Kalnin Ventures Corp. (BKV) made a splash earlier this month with an announced deal to acquire a natural gas power plant in Temple, TX, for $430 million.  With independent E&Ps largely focused on the upstream, value chain integration has chiefly been the territory of majors and supermajors.…

August 23, 2021
Strong Week for Eagle Ford, Williston Sends U.S. Rig Count Sharply Higher

Strong Week for Eagle Ford, Williston Sends U.S. Rig Count Sharply Higher

The Eagle Ford Shale and Williston Basin led a surge in U.S. onshore drilling activity during the week ended Friday as the domestic rig count rose nine units to an even 500, according to the latest figures from Baker Hughes Co. (BKR). Ten oil-directed rigs were added in the United States for the week, offsetting…

August 13, 2021
September Natural Gas Prices Trim Early Gains, but Settle Higher on Returning Heat

September Natural Gas Prices Trim Early Gains, but Settle Higher on Returning Heat

Natural gas futures traded both sides of the $4.00/MMBtu mark on Monday as bullish weather forecasts and persistently sagging storage levels quickly reversed the losses from late last week. The September Nymex gas futures contract hit a $4.042 intraday high but ultimately finished the day at $3.935, up only 2.1 cents from Friday’s close. Spot…

August 2, 2021
As Demand Further Strengthens, August Natural Gas Futures Extend Rally; Cash Prices Climb

As Demand Further Strengthens, August Natural Gas Futures Extend Rally; Cash Prices Climb

Natural gas futures on Monday advanced for a seventh consecutive session as robust domestic cooling demand and strong liquefied natural gas (LNG) export levels continued to drive up prices that are at their highest levels since 2018. The August Nymex contract advanced 4.2 cents day/day and settled at $4.102/MMBtu. The prompt month gained nearly 11%…

July 26, 2021
Permian Leads Surge in Land Activity as U.S. Rig Count Rises to 491

Permian Leads Surge in Land Activity as U.S. Rig Count Rises to 491

A ramp-up in oil drilling, especially in the Permian Basin, sent the U.S. rig count surging seven units higher to 491 for the week ended Friday (July 23), the latest numbers from oilfield services provider Baker Hughes Co. (BKR) show. All of the net gains domestically for the week occurred in the oil patch, with…

July 23, 2021
Natural Gas Futures Rally for Second Day, Bolstered by Demand Outlook; Spot Prices Spike

Natural Gas Futures Rally for Second Day, Bolstered by Demand Outlook; Spot Prices Spike

Natural gas futures on Monday cruised higher for a second consecutive session as forecasts pointed to stronger weather-driven demand over the back half of July. The August Nymex contract advanced 10.5 cents day/day and settled at $3.779/MMBtu. The prompt month had gained 6.0 cents on Friday to close out trading last week. The September contract…

July 19, 2021
U.S. Natural Gas Rig Count Up Two as GOM Activity Rises

U.S. Natural Gas Rig Count Up Two as GOM Activity Rises

The U.S. natural gas rig count rose two units to finish at 101 during the week ended Friday, a week that also saw a notable uptick in drilling activity in the Gulf of Mexico (GOM), according to updated data from oilfield services provider Baker Hughes Co. (BKR). Drilling gains in the United States for the…

July 9, 2021
Texas Lawmakers Advance Bills Overhauling Electric Grid, Regulatory Oversight

Texas Lawmakers Advance Bills Overhauling Electric Grid, Regulatory Oversight

As the Texas legislative session drew to a close over the weekend, lawmakers approved bills aimed at overhauling the state’s electric grid — and those who govern it — following February’s massive winter storm that left residents in the dark for days amid record cold temperatures. “This is our response, this body’s response, to the…

June 1, 2021
Texas Freeze Demonstrates Need for Further Mexico-U.S. Energy Integration, Expert Says

Texas Freeze Demonstrates Need for Further Mexico-U.S. Energy Integration, Expert Says

Freezing weather in Texas in February and the subsequent energy supply problems on both sides of the U.S.-Mexico border underline a need for greater energy integration between the two countries, Lorena Patterson, senior energy specialist and strategist, told NGI’s Mexico Gas Price Index.   “I would advocate for greater integration between the markets, and more diversification…

April 16, 2021
Led by Texas, Eight E&Ps, Five OFS Operators Sought Chapter 11 in 1Q

Led by Texas, Eight E&Ps, Five OFS Operators Sought Chapter 11 in 1Q

Eight of North America’s oil and gas producers filed for bankruptcy during the first three months of this year, the highest quarterly total since 2016, according to Haynes and Boone LLC. The law firm, which has monitored North American producer Chapter 11 filings since 2015, on Thursday issued its latest report covering 1Q2021. It also…

April 16, 2021