Cimarex Energy Co. and Cabot Oil & Gas Corp. on Monday agreed to combine in an all-stock merger, tying together their extensive operations in the Marcellus Shale, Permian and Anadarko basins. Denver-based Cimarex controls 560,000 net acres combined in the Permian and Anadarko, while Houston-based Cabot has 173,000 net acres in the Marcellus. Cabot CEO…
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Natural Gas Rig Count Down One in U.S. as Oil Patch Notches Further Gains
The U.S. natural gas rig count slid one unit to finish at 99 for the week ended Friday (May 21), while another round of additions in the oil patch lifted the overall domestic tally higher for the period, according to data published by Baker Hughes Co. (BKR). Four oil-directed rigs were added in the United…
Onshore Gains Nudge U.S. Rig Count Higher as GOM Total Shrinks
Gains in land drilling offset a decline in the Gulf of Mexico (GOM) to send the U.S. natural gas rig count two units higher to 455 for the week ended Friday (May 21), according to the latest numbers from Baker Hughes Co. (BKR). Four oil-directed rigs were added in the United States for the week,…
Mexico’s Pemex Claims Majority Interest in Zama Offshore Oil Deposit in SEC Filing
Mexican national oil company Petróleos Mexicanos (Pemex) is claiming a majority interest in the Zama oil deposit discovered by a private sector consortium at offshore Block 7 in 2017. The assertion by Pemex, made in its 20-F annual report filed to the U.S. Securities and Exchange Commission on Monday, appears to contradict a previous assessment…
EIA Modeling June Oil Production Growth on Strength of Permian Output
Driven by the Permian Basin, oil production out of seven key U.S. onshore regions is set to grow from May to June, while natural gas production is on track to decline, according to the updated projections from the Energy Information Administration (EIA). In its latest Drilling Productivity Report (DPR), EIA said it expects the Anadarko,…
U.S. Natural Gas Rig Count Down Three as Oil Drilling Surges
The U.S. natural gas rig count slid three units to finish the week ended Friday (May 14) at an even 100, while oil drilling lifted the overall domestic drilling total higher for the week, according to data from Baker Hughes Co. (BKR). Offsetting the decline in natural gas drilling, eight oil-directed rigs were added in…
Enerplus Expects Bakken Production to Grow After Acquisitions
Canadian independent Enerplus Corp. reported lower year/year production for the first quarter but it is poised to resume growing output in the Bakken Shale of North Dakota following a pair of recent acquisitions. Natural gas production for the firm, which also has assets in the Marcellus Shale, dropped to 255.7MMcf/d in the first three months…
Natural Gas Drilling Activity Down, Oil Up as Five Rigs Added in U.S.
Despite a pullback in the natural gas patch, gains in oil-directed drilling lifted the U.S. rig count five units higher to 453 for the week ended Friday (May 14), according to updated figures from oilfield services provider Baker Hughes Co. (BKR). Eight oil-directed rigs were added in the United States for the week, which was…
Ensign Predicting Multi-Year Recovery for U.S., Canadian OFS
Recovery has begun but will be cautious and only make a slow start in the aftermath of the Covid-19 pandemic across oil and natural gas fields in Canada and the United States, according to the management team of oilfield contractor Ensign Energy Services Inc. “We expect a multi-year recovery cycle,” management said in reporting the…
U.S. Natural Gas Rig Count Surges Past Century Mark
The U.S. natural gas rig count surged seven rigs to 103 during the week ended Friday (May 7), overshadowing gains in the oil patch and helping to power continued growth in overall domestic drilling activity, according to data from Baker Hughes Co. (BKR). Two oil-directed rigs were added in the United States for the period,…