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U.S. Natural Gas Drilling Rises in Latest Baker Count as Oil Activity Surges

U.S. Natural Gas Drilling Rises in Latest Baker Count as Oil Activity Surges

The U.S. natural gas rig count climbed two units to 109 for the week ended Friday (Jan. 14), while big gains in Texas sent the overall domestic drilling tally higher by double digits, according to updated figures published by Baker Hughes Co. (BKR). Including a net gain of 11 oil-directed rigs, the combined domestic rig…

January 14, 2022
U.S. Drilling Total Increases by Double Digits as Activity Climbs in Eagle Ford, Haynesville

U.S. Drilling Total Increases by Double Digits as Activity Climbs in Eagle Ford, Haynesville

On the strength of sharp gains in the Eagle Ford and Haynesville shales, the U.S. rig count surged 13 units higher to 601 for the week ended Friday (Jan. 14), according to the latest numbers from Baker Hughes Co. (BKR). Net gains in the United States included 11 oil-directed rigs and two natural gas-directed rigs,…

January 14, 2022
Global Oil, Natural Gas Investments Seen Rising 4% in 2022

Global Oil, Natural Gas Investments Seen Rising 4% in 2022

Global oil and gas investment is expected to grow by $26 billion this year as the industry continues to recover from the worst of the coronavirus, according to new analysis from Rystad Energy. Overall oil and gas investment is forecast to climb by 4% to $628 billion this year from $602 billion in 2021. “The…

January 11, 2022
Repsol Acquires Marcellus Assets in Rockdale Bankruptcy

Repsol Acquires Marcellus Assets in Rockdale Bankruptcy

Repsol SA is bolting on acreage in the Marcellus Shale after successfully bidding for 43,000 net acres in Northeast Pennsylvania in a bankruptcy auction. The Spanish energy company has agreed to pay $222 million, including $2 million in debt, for Rockdale Marcellus LLC’s assets in Tioga, Lycoming and Bradford counties, according to court documents. The…

January 6, 2022
OPEC-Plus Agrees to Ramp Up Oil Output Despite Omicron

OPEC-Plus Agrees to Ramp Up Oil Output Despite Omicron

A coalition of major oil producing countries agreed on Tuesday to further boost output to meet expectations for strong demand, despite concerns about the rapidly spreading Omicron variant of the coronavirus. Policymakers from the Organization of the Petroleum Exporting Countries (OPEC), headed by Saudi Arabia, and a Russia-led group of allies known as OPEC-plus, said…

January 5, 2022
Eni FPSO Arrival Shifts Flagship Mexico Offshore Project Into Ramp Up Mode

Eni FPSO Arrival Shifts Flagship Mexico Offshore Project Into Ramp Up Mode

Italy’s Eni SpA, one of Mexico’s leading private sector oil producers, said a floating production, storage and offloading (FPSO) vessel had arrived offshore Tabasco allowing for production to ramp up in the Area 1 development. In mid-2019, Eni became the first private sector operator to record offshore oil production in Mexico at its Area 1…

January 4, 2022
Mexico Private Sector Oil Output Surges to Record High as Bid Rounds Still Shelved

Mexico Private Sector Oil Output Surges to Record High as Bid Rounds Still Shelved

Private sector oil production in Mexico averaged 73,479 b/d in November, up from 51,907 b/d in November 2020, according to the latest figures from upstream regulator Comisión Nacional de Hidrocarburos (CNH). The 42% year/year increase marks the highest monthly average for non-state firms since the 2013 constitutional energy reform opened the upstream segment to private…

December 27, 2021
Colombia’s Oil, Natural Gas Reserves Said Rapidly Dwindling

Colombia’s Oil, Natural Gas Reserves Said Rapidly Dwindling

Colombia’s oil and gas production along with its proven reserves are falling and investment will likely fail to recover to pre-Covid-19 pandemic levels this decade, according to new analysis from Rystad Energy. Colombia is Latin America’s third-largest oil and gas producer behind Brazil and Mexico, but crude oil production this year is on track to…

December 21, 2021
Natural Gas Drilling Total Declines in U.S.; Canadian Count Down Too

Natural Gas Drilling Total Declines in U.S.; Canadian Count Down Too

The U.S. natural gas rig count fell one unit to 104 for the week ended Friday (Dec. 17), while an expansion in the oil patch lifted the overall domestic count three units to 579, according to updated figures published by oilfield services provider Baker Hughes Co. (BKR). Four oil-directed rigs were added for the week…

December 17, 2021
U.S. Drilling Activity Increases as Permian, Haynesville Add Rigs in Latest Baker Tally

U.S. Drilling Activity Increases as Permian, Haynesville Add Rigs in Latest Baker Tally

The U.S. rig count rose three units to 579 during the week ended Friday (Dec. 17), including upticks in activity in the Permian Basin and the Haynesville Shale, according to the latest tally from oilfield services provider Baker Hughes Co. (BKR). Four oil-directed rigs were added for the week in the United States, partially offset…

December 17, 2021
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