Repsol SA is bolting on acreage in the Marcellus Shale after successfully bidding for 43,000 net acres in Northeast Pennsylvania in a bankruptcy auction. The Spanish energy company has agreed to pay $222 million, including $2 million in debt, for Rockdale Marcellus LLC’s assets in Tioga, Lycoming and Bradford counties, according to court documents. The…
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OPEC-Plus Agrees to Ramp Up Oil Output Despite Omicron
A coalition of major oil producing countries agreed on Tuesday to further boost output to meet expectations for strong demand, despite concerns about the rapidly spreading Omicron variant of the coronavirus. Policymakers from the Organization of the Petroleum Exporting Countries (OPEC), headed by Saudi Arabia, and a Russia-led group of allies known as OPEC-plus, said…
Eni FPSO Arrival Shifts Flagship Mexico Offshore Project Into Ramp Up Mode
Italy’s Eni SpA, one of Mexico’s leading private sector oil producers, said a floating production, storage and offloading (FPSO) vessel had arrived offshore Tabasco allowing for production to ramp up in the Area 1 development. In mid-2019, Eni became the first private sector operator to record offshore oil production in Mexico at its Area 1…
Mexico Private Sector Oil Output Surges to Record High as Bid Rounds Still Shelved
Private sector oil production in Mexico averaged 73,479 b/d in November, up from 51,907 b/d in November 2020, according to the latest figures from upstream regulator Comisión Nacional de Hidrocarburos (CNH). The 42% year/year increase marks the highest monthly average for non-state firms since the 2013 constitutional energy reform opened the upstream segment to private…
Colombia’s Oil, Natural Gas Reserves Said Rapidly Dwindling
Colombia’s oil and gas production along with its proven reserves are falling and investment will likely fail to recover to pre-Covid-19 pandemic levels this decade, according to new analysis from Rystad Energy. Colombia is Latin America’s third-largest oil and gas producer behind Brazil and Mexico, but crude oil production this year is on track to…
Natural Gas Drilling Total Declines in U.S.; Canadian Count Down Too
The U.S. natural gas rig count fell one unit to 104 for the week ended Friday (Dec. 17), while an expansion in the oil patch lifted the overall domestic count three units to 579, according to updated figures published by oilfield services provider Baker Hughes Co. (BKR). Four oil-directed rigs were added for the week…
U.S. Drilling Activity Increases as Permian, Haynesville Add Rigs in Latest Baker Tally
The U.S. rig count rose three units to 579 during the week ended Friday (Dec. 17), including upticks in activity in the Permian Basin and the Haynesville Shale, according to the latest tally from oilfield services provider Baker Hughes Co. (BKR). Four oil-directed rigs were added for the week in the United States, partially offset…
Inclusive Energy Gains Williston Foothold for OFS Across Canada, U.S. Region
Calgary-based Inclusive Energy Ltd. has secured a market for its oilfield services (OFS) with an agreement to fund drilling in the northeastern corner of the Williston Basin, both in the United States and Canada. The agreement announced Wednesday by the oilfield services (OFS) company is to provide services in Manitoba and Saskatchewan, as well as…
Natural Gas Activity Rises as U.S. Drillers Turn in Another Strong Week of Gains
The U.S. natural gas rig count rose three units to finish at 105 as of Friday (Dec. 10), while more growth in the oil patch rounded out another week of gains in domestic drilling activity, the latest numbers from Baker Hughes Co. (BKR) show. Four oil-directed rigs were added in the United States alongside the…
Shell to Simplify Business with ‘Resounding Support’ by Shareholders
Royal Dutch Shell plc is moving forward with an overhaul and name change after shareholders on Friday overwhelmingly supported a plan to simplify the business structure. On the resolution to adopt the new Articles of Association, 99.8% of the voting shares were in favor of the move. The overhaul could be completed in early 2022.…