Upstream

Bolstered by a modest rebound in oil activity, the U.S. rig count rose four units to finish at 758 for the week ended Friday (March 24), according to the latest figures from oilfield services provider Baker Hughes Co. (BKR). Domestic gains were driven by a four-rig increase in oil-directed drilling, raising total U.S. oil rigs…

The decline in U.S. natural gas prices, combined with elevated costs to drill a well, are forecast to slow down drilling and completions (D&C) activity in the gassy basins of the Lower 48. Rystad Energy Vice President Serik Omarov in a note said the gas price decline has created uncertainty for exploration and production (E&P)…

Italy’s Eni SpA, one of Mexico’s leading private sector oil producers, has found more oil and natural gas offshore Mexico. Its most recent find was in the Yatzil exploration prospect in Block 7, located in the mid-deep water of the Cuenca Salina in the Sureste Basin in the Gulf of Mexico. Eni thinks there are…

The U.S. natural gas rig count surged nine units higher to reach 162 for the week ended Friday, while a one-rig decline in the oil patch saw the combined domestic tally rise eight units to 754, according to updated figures from Baker Hughes Co. (BKR). Land drilling increased by five domestically for the week, with…

A sharp increase in natural gas-directed drilling saw the U.S. rig count rise eight units to 754 during the week ended Friday (March 17), according to the latest tally from Baker Hughes Co. (BKR). Total natural gas-directed rigs increased by nine domestically, partially offset by a decline of one oil-directed unit. Land drilling increased by…

Calfrac Well Services Ltd. is projecting steady utilization of 15 completion fleets across the United States and Canada for the rest of this year, management said.  “Even with the constructive long-term outlook for the United States pressure pumping industry, the company expects to navigate any potential activity reduction in its natural gas concentrated regions by…

Expect more natural gas output from Latin American nations, according to recent earnings calls and presentations from regional government officials and executives. Management at Brazil’s state oil company Petrobras SA said they were working to employ more of the natural gas from the prolific offshore pre-salt deposits. “We will search for new segments for our…

The U.S. natural gas rig count dropped one unit to finish at 153 for the week ended Friday (March 10), while a slowdown in the Permian Basin helped drop the combined domestic tally three units to 746, according to updated figures from Baker Hughes Co. (BKR). Along with the loss of one natural gas rig,…

Including a sharp decline in the Permian Basin, the U.S. rig count dropped three units to finish at 746 for the week ended Friday (March 10), according to the latest tally from oilfield services provider Baker Hughes Co. (BKR). Domestic declines for the period included two oil rigs and one natural gas-directed unit. Land drilling…