The U.S. rig count climbed seven units to 740 during the week ended Friday (June 17) on a combination of gains in both oil- and natural gas-directed drilling, according to the latest numbers from Baker Hughes Co. (BKR). Four oil-directed rigs and three natural gas-directed rigs were added in the United States for the week,…
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Continued Uncertainty Has Some Upstream Firms Eying Mexico Exit, Industry Expert Says
In the Mexico energy industry, the prevailing challenge “is the uncertainty about when the rules are going to change again,” said Alma Del Toro, President of Blue Bull Energy. “And because Mexico keeps changing its mind, that creates the worst nightmare for any investor.” Del Toro, who has more than 25 years of experience in…
Natural Gas Upstream Activity Flat in U.S. as Canadian Oil Drilling Surges
The U.S. natural gas rig count held steady at 151 during the week ended Friday (June 10), while an uptick in oil-directed drilling lifted the combined U.S. tally six units to 733, updated numbers from Baker Hughes Co. (BKR) show. Domestically, gains of five land-directed rigs and two rigs in inland waters were partially offset…
Devon Bolts On Williston Leasehold in $865M RimRock Deal
Devon Energy Corp. has agreed to purchase RimRock Oil and Gas LP’s Williston Basin leasehold interest and related assets for $865 million. “This bolt-on acquisition is highly complementary to our existing position and is immediately accretive,” said CEO Rick Muncrief. The deal with RimRock, a portfolio company formed in 2016 by private equity giant Warburg…
Permian, Eagle Ford Lead Gains in Oil Patch as U.S. Drilling Numbers Rise in Latest Tally
The U.S. rig count climbed six units to reach 733 during the week ended Friday (June 10), bolstered by growth in the Permian Basin and Eagle Ford Shale, the latest numbers from Baker Hughes Co. (BKR) show. Total natural gas-directed rigs were unchanged domestically for the week, while oil-directed rigs increased by six. Gains of…
Mexico’s AMLO Says LNG, Oil Projects Moving Forward After Meeting With U.S. Companies
Mexico President Andrés Manuel López Obrador on Friday touted progress on numerous private and public sector energy projects under development in the country. On Thursday, the administration concluded meetings with 16 U.S. energy companies to discuss “matters of electricity as well as oil and gas,” the president told reporters during his morning press conference. Among…
Natural Gas Drilling Steady in U.S. as Oil Count Rises in Canada
The U.S. natural gas rig count went unchanged at 151 during the week ended Friday (June 3) amid minor regional adjustments to domestic upstream activity levels, while the Canadian oil count soared, the latest figures from Baker Hughes Co. (BKR) show. Both oil- and natural gas-directed drilling totals were unchanged in the United States for…
U.S. Drilling Activity Levels Steady in Latest Baker Count
Amid some minor adjustments to drilling totals at the regional level, including a small downtick in the Haynesville Shale, the overall U.S. rig count finished the week ended Friday (June 3) unchanged at 727, according to the latest tally from Baker Hughes Co. (BKR). Both oil- and natural gas-directed drilling totals were unchanged domestically for…
Shell Canada Among Backers of Montney Shale CCS Project
Provincial earth sciences agencies have made an opening move toward introducing carbon capture and storage (CCS) into the prolific Montney Shale gas production region in northeastern British Columbia (BC). Upstream activity has been rising in the gassy Montney. BC is also in the process of changing its natural gas and oil royalty system. Geoscience BC,…
Natural Gas Drilling Sees Small Increase, but GOM Activity Drops in Latest Baker Count
The U.S. natural gas rig count rose one unit to 151 for the week ended Friday (May 27), while a drop in the Gulf of Mexico (GOM) count helped send the combined domestic tally one unit lower overall to 727, according to the latest numbers from Baker Hughes Co. (BKR). Total GOM rigs fell two…