E&P

Global energy demand is set to rise as income and population grow, with natural gas, oil and coal in 2050 still meeting more than half of total consumption, in part because of the high cost of new technologies, according to Wood Mackenzie. The consultancy’s 2023 Energy Transition Outlook (ETO) highlights the “energy challenge trinity” impacting…

Regulators in Mexico approved a modified development plan submitted by state oil company Petróleos Mexicanos (Pemex) for the Maloob shallow water field. Pemex expects capital expenditures (capex) to total $9.8 billion between 2023 and 2034 at Maloob, which is part of the Ku-Maloob-Zaap complex. Operating expenditures are expected to reach $4.36 billion, bringing total investment…

Permits to develop natural gas and oil in the Lower 48 slumped in August, with the biggest operating area, the Permian Basin, off by double-digits from July and 12% year-to-date.  “Permian permitting continues to slow,” down by 407 or 37% month/month (m/m), with year-to-date permits declining by 820, according to Evercore ISI analysts led by…

Driven by declines from the Appalachian Basin and the Haynesville Shale, combined natural gas output from seven key Lower 48 regions will trend lower from September to October, according to updated modeling from the U.S. Energy Information Administration (EIA). Combined natural gas output from the seven regions — a group that also includes the Anadarko…

Mexico’s upstream oil and natural gas regulator Comisión Nacional de Hidrocarburos (CNH) and natural gas pipeline operator Centro Nacional de Control del Gas Natural (Cenagas) have agreed to strengthen ties, namely through increased sharing of information and data. Cenagas operates the Sistrangas natural gas pipeline network, which spans some 6,200 miles throughout 20 states in…

More natural gas and oil output is coming ashore from the deepwater Gulf of Mexico (GOM) as Woodside Energy Group Ltd.’s Shenzi North project ramps up in Green Canyon ahead of schedule.  A final investment decision (FID) for Shenzi North, an extension of the Shenzi field, was taken in July 2021, and first output initially…

North Dakota achieved record natural gas production of 3.29 Bcf/d in July, up 1.3% from June, according to the state’s Department of Mineral Resources (DMR). Producers managed to capture and put to market 96% or 3.15 Bcf/d of the output, also an all-time high, highlighted DMR’s Lynn Helms, Oil and Gas Division director. He hosted…

“Bid rounds, including farmouts, can bring new investment, new ideas and new technology while creating diversity in energy resources and supply options. Of course, it is Mexico’s full right to develop its energy resources as it chooses,” Chris Sladen, a decorated executive of the international energy industry, told NGI’s Mexico GPI. “I also think there…

The U.S. natural gas rig count surged eight units higher to reach 121 for the week ended Friday (Sept. 15) in the latest Baker Hughes Co. (BKR) data, prompting an immediate dip in New York Mercantile Exchange (Nymex) futures amid ongoing concerns over ample production levels. The October Nymex contract dropped from just above $2.670/MMBtu…