Upstream

EOG Resources Inc. has unveiled a 21 Tcf net natural gas resource in a familiar play in South Texas, which holds an estimated 1,250 net locations in the Austin Chalk and Eagle Ford Shale formations. The discovery on the Dorado prospect is in Webb County, where EOG has 163,000 net acres, in 700 feet of…

Another week of gains in oil-directed drilling lifted the overall U.S. rig count four units to an even 300 as of the week ending Friday (Nov. 6), according to the latest data published by Baker Hughes Co. (BKR). The BKR numbers, which are based on data provided in part by Enverus Drillinginfo, show a five-rig…

Mexico could prove to be busy for the services sector in the years ahead as its producing wells age and the cost to keep them going mounts. According to new analysis from Rystad Energy, around 75% of Mexico’s oil and gas producing wells are mature, and the cost to keep them pumping could exceed $3…

Despite the anti-competitive atmosphere that has pervaded the government of Mexico President Andrés Manuel López Obrador, private sector upstream operators that jumped at the chance to enter the country as part of its energy reform continue to show results and tout the potential of Mexico’s oil and gas resources. Last week during a conference call…

Further recovery in the oil patch, especially in the Permian Basin, lifted the U.S. rig count nine units higher to 296 for the week ending Friday (Oct. 30), according to Baker Hughes Co. (BKR) data. The addition of 10 oil-directed rigs offset the departure of one natural gas-directed unit in the United States for the…

Management at Mexico’s Petróleos Mexicanos (Pemex) thinks its strategy to focus on 20 new priority fields is starting to pay dividends, with 123,000 b/d of new production added from 15 producing areas by the end of September. Thirteen wells were drilled at the priority fields during the third quarter, and the company will complete and…

Consolidation in the U.S. exploration sector continued to gain steam Monday, with Contango Oil & Gas Co. announcing an all-stock merger with Mid-Con Energy Partners LP one day after a big tie-up in the Canadian oilpatch.  Houston-based Contango works the shallow waters of the Gulf of Mexico (GOM) and across the Lower 48, mostly in…

North Dakota officials last Friday re-allocated $16 million from federal Covid-19 funds to reduce a growing number of drilled but uncompleted wells (DUC) while creating up to 1,000 temporary jobs in the oil and gas sector. The action by the state Emergency Commission chaired by Gov. Doug Burgum was part of an effort to reassign…

The final presidential debate on Thursday crystallized stark differences between the candidates on climate and energy policy, as Joseph R. Biden Jr. stressed the urgency of addressing climate change while President Trump warned that the Democratic nominee’s plans would hurt the economy. Calling climate change “an existential threat to humanity,” Biden said, “We have a…