Upstream

The Texas energy sector is making substantial progress to reduce methane emissions, with flared natural gas volumes down by almost three-quarters between June 2019 and May, according to an industry-backed report.  The Texas Methane & Flaring Coalition on Wednesday issued the first edition of its Methane & Emissions Report. The coalition, established in December 2019,…

Anadarko Basin-focused BCE-Mach III LLC is beefing up its natural gas-weighted assets with a deal to add 18,200 net acres and 17 MMcfe/d to its portfolio amid high commodity prices.  The company, a partnership of Houston-based Bayou City Energy Management LLC and Oklahoma City-based Mach Resources LLC, said this week it recently closed on the…

A week after the Gulf of Mexico (GOM) saw its rig count flatline, a partial recovery in offshore activity helped lift the overall U.S. drilling tally six units higher to 503 as of Friday, according to the latest data from Baker Hughes Co. (BKR). Seven oil-directed rigs were added in the United States for the…

Mexico’s energy sector has faced a difficult past three years which have seriously dented investor appetite, but the country still offers opportunities and the future could be bright, industry insiders said Tuesday at the Mexico Gas Summit hosted by Industry Exchange LLC in San Antonio, TX. The Woodrow Wilson International Center’s Duncan Wood said that…

Nearly 130 business and labor groups led by the American Petroleum Institute (API) are urging Congress to oppose a proposed tax on oil and gas methane emissions and instead push for direct federal regulation. Senate Democrats are considering the Methane Emissions Reduction Act of 2021 for inclusion in their $3.5 trillion budget reconciliation bill.  Introduced…

U.S. drilling permit activity slumped across the major Lower 48 basins in August, up sharply from a year ago but down from 2019 levels, according to Evercore ISI. The Evercore team led by analyst James West compiles a monthly report about drilling activity using state and federal data. Permits are usually requested by producers three…

Mexico’s energy sector has faced a difficult past three years which have seriously dented investor appetite, but the country still offers opportunities and the future could be bright, industry insiders said Tuesday at the Mexico Gas Summit hosted by Industry Exchange LLC in San Antonio, TX. The Woodrow Wilson International Center’s Duncan Wood said that…

Hurricane Ida may be long gone, but bitter memories of its torrid march through the Gulf of Mexico (GOM) and into the Lower 48 were slowing recovery efforts by the natural gas and oil industry. Producers that work offshore were struggling to return crews to platforms and rigs on Friday. Extensive damage in Louisiana’s Houma…

A major hurricane and a corresponding dramatic pullback in offshore drilling numbers saw the overall U.S. rig count plummet 11 units to 497 for the week ended Friday (Sept. 3), according to the latest figures published by Baker Hughes Co. (BKR). Net changes in the United States included a 16-rig decrease in oil-directed drilling and…