Turnaround

After posting a 22% first quarter decline in drilling activity relative to the same period a year ago, U.S. and oil and natural gas drilling staged a turnaround in the second quarter, with well completions rising 38% in the second quarter, according to a new report issued by the American Petroleum Institute (API). But natural gas, which has held the lead in drilling for most of the decade, is now lagging oil.

After posting a 22% first quarter decline in drilling activity relative to the same period a year ago, U.S. and oil and natural gas drilling staged a turnaround in the second quarter, with well completions rising 38% in the second quarter, according to a new report issued by the American Petroleum Institute (API). But natural gas, which has held the lead in drilling for most of the decade, is now lagging oil.

Hints of an economic turnaround weren’t enough to pull natural gas marketing out of the doldrums during the first three months of this year, according to NGI’s 1Q2010 Top North American Gas Marketers Ranking, which found that the 22 reporting marketers that also participated in the 1Q2009 survey transacted 122.85 Bcf/d in 1Q2010, an increase of less than 1% compared with the 121.87 Bcf/d they reported in the year-ago period. Those same 22 marketers reported a less than 1% decrease in NGI’s 4Q2009 survey compared with the year-ago period.

Hints of an economic turnaround weren’t enough to pull natural gas marketing out of the doldrums during the first three months of this year, according to NGI’s 1Q2010 Top North American Gas Marketers Ranking, which found that the 22 reporting marketers that also participated in the 1Q2009 survey transacted 122.85 Bcf/d in 1Q2010, an increase of less than 1% compared with the 121.87 Bcf/d they reported in the year-ago period. Those same 22 marketers reported a less than 1% decrease in NGI’s 4Q2009 survey compared with the year-ago period.

Capital spending by exploration and production (E&P) companies plummeted in 2009, but a turnaround is expected this year, with North American E&Ps boosting their spending on average 22%, IHS Herold reported last week.

Capital spending by exploration and production (E&P) companies plummeted in 2009, but a turnaround is expected this year, with North American E&Ps boosting their spending on average 22%, IHS Herold reported Wednesday.

Capital spending by exploration and production (E&P) companies plummeted in 2009, but a turnaround is expected this year, with North American E&Ps boosting their spending on average 22%, IHS Herold reported Wednesday.

Despite early indicators of an economic turnaround and signs that energy demand is showing signs of a rebound, Canada should have adequate supplies of heating oil, natural gas and electricity to make it comfortably through the 2009-2010 winter, according to the National Energy Board (NEB) in its annual Winter Outlook.

Despite early indicators of an economic turnaround and signs that energy demand is showing signs of a rebound, Canada should have adequate supplies of heating oil, natural gas and electricity to make it comfortably through the 2009-2010 winter, according to the National Energy Board (NEB) in its annual Winter Outlook.