Upstream

Mexico’s natural gas production averaged 4.05 Bcf/d in April, up from 3.74 Bcf/d in April 2021, according to new data from the country’s upstream regulator. State oil company Petróleos Mexicanos (Pemex) supplied 4.05 Bcf/d or 95% of the total, up from 3.53 Bcf/d a year ago. Private sector production, meanwhile, averaged 220 MMcf/d, up from…

Latin America’s national oil companies (NOCs) posted quarterly profits that would delight any investor, but with the exception of Argentina this hasn’t so far translated into significant oil and gas production increases. The oilfield services firms touted strong growth from Latin American operations in the first quarter. Halliburton Co. reported first-quarter revenue from Latin America…

The U.S. natural gas rig count climbed one unit to 150 for the week ended Friday (May 20), while Texas led a surge in oil drilling that lifted the combined U.S. tally 14 units higher to 728, according to the latest figures from Baker Hughes Co. (BKR). Alongside the one natural gas-directed rig, 13 oil-directed…

A big surge in oil-directed drilling, headlined by gains in the Permian Basin and Eagle Ford Shale, helped lift the U.S. rig count 14 units higher to 728 during the week ended Friday (May 20), according to the latest figures published by Baker Hughes Co. (BKR). Thirteen oil-directed rigs were added in the United States…

Colombian national oil company Ecopetrol SA and a unit of Occidental Petroleum Corp. (Oxy) have signed a deal to jointly explore four deepwater areas in the Caribbean. Blocks COL 1, COL 2, COL 6 and COL 7 are located, on average, about 150 kilometers or 93 miles off Colombia’s northern coast. The companies, which also…

The U.S. natural gas rig count rose three units to 149 for the week ended Friday (May 13), while rising numbers in the oil patch rounded out another week of healthy gains for domestic drilling activity, the latest numbers from Baker Hughes Co. (BKR) show. Six oil-directed rigs were added along with the three natural…

After a down period in the Mexico oil and gas industry, exacerbated by the Covid-19 pandemic, there’s a renewed push for exploration and drilling activity given the elevated hydrocarbon price environment, Marco Cota, CEO and founder of Talanza Energy, told NGI’s Mexico GPI. “We’re seeing a lot of drilling plans for this year and next…

Projections of Lower 48 oil production growth this year are “way too high,” Pioneer Natural Resources Co. CEO Scott Sheffield said Thursday. Irving, TX-based Pioneer is among the largest producers in the Permian Basin, with operations focused on the Midland sub-basin. As evidence, Sheffield pointed to comments by oilfield services CEOs, including Halliburton Co.’s Jeff…

The U.S. natural gas rig count rose two units to 146 for the week ended Friday (May 6), while the Gulf of Mexico (GOM) added three rigs to raise its tally to 16, according to updated figures published by Baker Hughes Co. (BKR). Including the addition of five oil-directed rigs, the combined domestic rig count…