Upstream

A big bump in Texas drilling led the way during another week of gains in the U.S. oil and gas patch, with the domestic count climbing six units to reach 556 as of Friday (Nov. 12), according to updated figures from Baker Hughes Co. (BKR). Four oil-directed rigs and two natural gas-directed rigs were added…

Imperial Oil Ltd., the 141-year-old elder statesman of Canadian fossil fuel firms, said it is encouraged by the rising global demand for petroleum products, but it also is bracing for potential impacts that could follow the United Nations climate summit in Glasgow, Scotland. The Calgary-based company, majority owned by ExxonMobil, issued its 3Q2021 results on…

Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process. The intention of the López Obrador government to change the constitution to restore vertical integration in the electricity industry is a matter…

The U.S. natural gas rig count climbed one unit higher to finish at an even 100 for the week ended Friday (Oct. 29), matching a modest uptick in the oil patch for the period, according to the latest figures from Baker Hughes Co. (BKR). The combined U.S. rig count climbed two units to 544 for…

Including activity increases in the Denver Julesburg-Niobrara and the Williston Basin, the U.S. rig count inched two units higher to 544 for the week ended Friday (Oct. 29), according to the latest figures from Baker Hughes Co. (BKR). Net increases of one oil-directed rig and one natural gas-directed rig for the period left the combined…

U.S. independent Hess Corp. has added a third rig in the Bakken Shale and may consider a fourth next year amid continued commodity price strength. The New York-based producer is ramping up Bakken activity after curtailments last year from the coronavirus. Net production from the Bakken was 148,000 boe/d in the third quarter compared with…

Privately held ProFrac Holdings LLC has clinched an all-cash agreement worth around $407.5 million to absorb FTS International Inc., which could create one of the largest pressure pumping companies focused in the Lower 48. ProFrac, based in Willow Park, TX, was formed in May 2016 by CEO Ladd Wilks and his brother Matthew Wilks, who…

Texas’ upstream employment figure grew by 2,900 jobs last month to reach 181,100 in September, the Texas Independent Producers and Royalty Owners Association (TIPRO) reported Friday. The September tally marks the Lone Star State’s fifth consecutive month of upstream job growth since April, TIPRO said. The September 2021 figure marks a year/year gain of 23,600,…

The U.S. natural gas rig count inched one unit higher to reach 99 for the week ended Friday (Oct. 22), while the recent steady upward trend in the oil patch stalled for the period, according to the latest numbers from Baker Hughes Co. (BKR). A net decline of two oil-directed rigs dropped the combined U.S.…