Upstream

ExxonMobil CEO Darren Woods on Tuesday made a compelling case for continuing to produce the globe’s natural gas and oil along with using technologies to eliminate emissions. Carbon capture and storage (CCS) may be one way to successfully sequester carbon dioxide (CO2) emissions from fossil fuel production, Woods said at CERAWeek by S&P Global. He…

Guyana is fast becoming a regional oil powerhouse, and the country’s vice president Bharrat Jagdeo thinks natural gas is the next step for the small nation at the northern tip of South America. Jagdeo spoke during CERAWeek by S&P Global in Houston on Monday. “The gas to energy program is going to start producing by…

Overshadowing gains in natural gas drilling, a third consecutive weekly decline in the oil patch dropped the U.S. rig count four units to 749 for the week ended Friday (March 3), according to the latest tally from Baker Hughes Co. (BKR). Net changes domestically for the period included an eight-rig decline in oil-directed rigs. In…

Amid record profits across the globe for oil and gas giants, Mexico’s national oil company Petróleos Mexicanos, aka Pemex, posted yet another loss in the fourth quarter of 2022. The company reported a fourth-quarter net loss of 172.4 billion pesos ($9.4 billion) after a 52- billion peso loss in the third quarter. In 4Q2021, Pemex…

“We are the first private producers to develop gas in the Burgos Basin and connect to Cenagas,” Roberto Gutierrez, vice president of commercial sales at Verdad Exploration Mexico LLC, told NGI’s Mexico GPI in a phone interview. On February 22, Verdad connected their gas production from a block in the Burgos Basin to the Sistrangas…

The U.S. natural gas rig count held steady at 151 for the week ended Friday (Feb. 24), while a slowdown in the oil patch dropped the combined domestic drilling total seven units to 753, according to the latest numbers from Baker Hughes Co. (BKR). Land drilling fell seven units week/week, while the Gulf of Mexico…

Southwestern Energy Co. said Friday it would drop drilling rigs this year in the Appalachian Basin and Haynesville Shale, joining other natural gas-focused producers that have announced plans to curb activity in response to falling prices. “Given near-term market conditions, we have proactively moderated activity, resulting in slightly lower expected production for 2023, and have…

A slowdown in oil-directed drilling sent the U.S. rig count tumbling seven units lower to 753 for the week ended Friday (Feb. 24), according to updated figures from oilfield services provider Baker Hughes Co. (BKR). Total U.S. natural gas-directed rigs were unchanged week/week at 151, with oil-directed rigs accounting for the entirety of the overall…

The U.S. natural gas rig count climbed one unit to 151 for the week ended Friday (Feb. 17), a period of generally minor adjustments to overall domestic upstream activity levels, updated numbers from Baker Hughes Co. (BKR) show. The uptick in natural gas rigs partly offset a two-rig decline in domestic oil-directed drilling for the…