E&P

EQT Corp., the nation’s largest natural gas producer, is swapping some Pennsylvania holdings in the Marcellus Shale in an exchange with Norway’s Equinor ASA, which is handing off its operations in Ohio and paying $500 million to balance the overall transaction. The agreement with Equinor USA Onshore Properties Inc. and affiliates includes 100% of its…

The U.S. natural gas rig count fell one unit to finish at 109 for the week ended Friday (April 12), while a small decrease in oil drilling dropped the combined domestic tally three units to 617, according to the latest numbers from Baker Hughes Co. (BKR). Total domestic natural gas rigs finished the period down…

APA Corp. said Wednesday it curtailed about 35 MMcf/d of U.S. natural gas production during the first quarter, mostly during March. The curtailment was “in response to weak or negative Waha hub prices.” Waha is the hub of record for the Permian Basin, which spans West Texas and portions of southeastern New Mexico. Waha prices…

Canadian oil and natural gas operators are working to manage water use as western provinces face increasingly dry conditions after a mild winter.  Exploration and production (E&P) companies achieved record natural gas production last winter, according to the latest data from the Canada Energy Regulator. Total marketed natural gas production during December was more than…

U.S. natural gas exploration and production (E&P) companies have reduced output in response to high inventories and the low price environment, but now the query is, when might production return? Price will tell, according to analysts. Lower 48 natural gas output has fallen below 100 Bcf/d, down from record highs around 107 Bcf/d early this…

The U.S. Energy Information Administration (EIA) is cutting its projected average Henry Hub natural gas spot price to $2.20/MMBtu for 2024, down 5.2% from the $2.30 average price the agency modeled a month earlier. In the April release of its Short-Term Energy Outlook (STEO), published Tuesday, EIA said it expects spot prices at the national…

Mexico’s state oil company Petróleos Mexicanos (Pemex) said a fire Saturday at the Akal-B offshore platform in Campeche Bay left one worker dead and nine injured, including two in critical condition. The deceased worker was an employee of a contractor company called COTER. The incident occurred in an area where pipelines supply natural gas as…

BP plc expects its natural gas marketing and trading results to be “strong” for the first quarter, following an upbeat result in the final three months of 2023. The London-based major, in a trading update preceding its first quarter report, said upstream production also would be higher in the period. However, lower gas and oil…

TotalEnergies SE CEO Patrick Pouyanné wasn’t born in Texas but as many who have migrated to the state say, he got there as fast as he could. In transactions over the past month, the French-based major has acquired additional Texas stakes in the Eagle Ford Shale, a carbon capture project in the Gulf of Mexico…