Upstream

Drilling activity in China is expected to intensify over the next five years as the nation’s producers are under pressure to boost domestic natural gas and oil production and reduce reliance on imports. According to a recent report by Rystad Energy, China’s top three national oil companies (NOCs) are expected to spend about $123 billion…

U.S. exploration and production (E&P) companies are completing wells at record rates, outpacing new wells by nearly 250 a month, according to Raymond James & Associates Inc. Analyst John Freeman in a note to clients Monday said the domestic count of drilled but uncompleted wells, aka DUCs, has dropped by nearly 3,300 from nearly 9,000…

U.S. natural gas drilling activity eased lower during the week ended Friday (Sept. 24), while ongoing recovery in the Gulf of Mexico (GOM) helped lift the overall domestic rig count higher for the period, according to updated numbers from Baker Hughes Co. (BKR). Ten oil-directed rigs were added in the United States for the week,…

Propelled by rising activity in the Gulf of Mexico (GOM) amid the recovery from Hurricane Ida-related impacts, the U.S. rig count rose nine units to 521 for the week ended Friday (Sept. 24), according to Baker Hughes Co. (BKR). Ten oil-directed rigs were added in the United States for the week, offsetting a one-rig decline…

Tourmaline Oil Corp., Canada’s largest natural gas producer, plans to boost spending and pull forward some drilling in the Montney Shale originally scheduled for next year into the final weeks of 2021. The company credited “materially reduced drilling times,” particularly at its northeastern British Columbia assets, with the decision.  Tourmaline reported a 20% reduction in…

Chevron Corp. and Enterprise Products Partners LP are evaluating possible projects to store carbon emissions from their U.S. business operations in the Midcontinent and on the Gulf Coast. Chevron U.S.A. Inc., through its Chevron New Energies division, has a framework in place with a subsidiary of Houston-based Enterprise to evaluate opportunities to store carbon dioxide…

The U.S. natural gas rig count slid one unit to 101 for the week ended Friday (Sept. 10), while a partial post-Ida recovery in the Gulf of Mexico (GOM) helped lift the overall domestic drilling tally six units to 503, the latest figures from oilfield services provider Baker Hughes Co. (BKR) show. Offsetting the one-rig…

The Texas energy sector is making substantial progress to reduce methane emissions, with flared natural gas volumes down by almost three-quarters between June 2019 and May, according to an industry-backed report.  The Texas Methane & Flaring Coalition on Wednesday issued the first edition of its Methane & Emissions Report. The coalition, established in December 2019,…

Anadarko Basin-focused BCE-Mach III LLC is beefing up its natural gas-weighted assets with a deal to add 18,200 net acres and 17 MMcfe/d to its portfolio amid high commodity prices.  The company, a partnership of Houston-based Bayou City Energy Management LLC and Oklahoma City-based Mach Resources LLC, said this week it recently closed on the…