The U.S. natural gas rig count dropped one unit to 155 for the week ended Friday (Nov. 4), while an uptick in oil drilling nudged the combined domestic tally two units higher to 770, according to updated numbers from Baker Hughes Co. (BKR). Domestic land drilling increased by two units for the week, while the…
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Devon Touts LNG Partnership, Lower 48 Acquisitions After Strong Third Quarter
With LNG exports seen driving U.S. natural gas demand growth over the coming years, Devon Energy Corp. is positioning itself to capitalize on premium global gas prices, management said Wednesday. In a call to discuss the Lower 48 producer’s third quarter earnings, CEO Rick Muncrief highlighted a partnership with Delfin Midstream Inc. that would see…
Williston Rig Gains Lead Small Increase in Latest U.S. Drilling Tally
On the strength of gains in the oil patch, including in the Williston Basin, the U.S. rig count rose two units overall to finish the week ended Friday (Nov. 4) at 770, according to the latest tally from Baker Hughes Co. (BKR). Net changes domestically included a three-rig increase in oil-directed drilling, partially offset by…
BP CFO Predicts Continued Natural Gas Price Volatility as Trading Unit Generating ‘Exceptional’ Results
BP plc is forecasting continued high prices and volatility in the natural gas market through year-end, following an “exceptional” third quarter for its gas marketing and trading business, management said Tuesday (Nov. 1). Breaking down the supermajor’s quarterly results on a conference call, CFO Murray Auchincloss said that reduced Russian pipeline imports to Europe “led…
Mexico’s Pemex Posts Loss Despite High Pricing Environment, Steady Output
Mexico’s state oil and gas giant Petróleos Mexicanos (Pemex) had a strange third quarter. Amid record commodity prices, the company posted a massive loss. But it also produced more hydrocarbons, in particular natural gas. In an earnings call last week, executives tried to put a positive spin on the results. They highlighted that Pemex liquids…
Shale, Offshore Natural Gas Development Could Offset Mexico Dependence on U.S., Says Rystad Exec
“For Mexico to diversify away from U.S. natural gas imports in the medium to long term, the answer is potentially shale,” W. Schreiner Parker, senior vice president and head of Latin America at Rystad Energy, said in an interview with NGI’s Mexico GPI. “The other interesting area of domestic supply is offshore gas,” he said.…
Natural Gas Drilling Total Eases Lower in Latest BKR Count, Oil Down Too
The U.S. natural gas rig count dropped one unit to 156 for the week ended Friday (Oct. 28), while a two-rig decline in oil drilling saw the combined domestic tally fall three units to 768, according to the latest figures from Baker Hughes Co. (BKR). Changes in the United States for the week included a…
U.S. Oil, Natural Gas Drilling Activity Slows in Latest BKR Count
Amid modest declines in both oil- and natural gas-directed drilling, the U.S. rig count fell three units to 768 for the week ended Friday (Oct. 28), according to the latest tally from oilfield services provider Baker Hughes Co. (BKR). Changes in the United States for the week included a two-rig decrease in oil drilling, with…
Chevron Looking to Move LNG Beyond Pacific, with Eye on Atlantic, Eastern Med
Deliveries from Chevron Corp.’s two operated Australian LNG export facilities, both through spot sales and contracts, helped propel third quarter profits, and executives are considering ways to expand exports from the Atlantic Basin and the Eastern Mediterranean. During the quarterly conference call on Friday, CEO Mike Wirth said the international upstream results benefited from “record”…
Mexico Natural Gas Production Up in September, but Outlook Mixed
Natural gas production in Mexico continued its winning streak in September, according to the latest statistics from upstream regulator Comisión Nacional de Hidrocarburos (CNH). Gas production hit 4.180 Bcf/d during the month, compared to 4.060 Bcf/d in August and 3.894 Bcf/d in September of last year. Natural gas production has seen a consistent rise this…