E&P

Mexico remains a great bet for long-term energy investment due to its highly strategic geopolitical position, according to Adriana Citlali Sánchez, a seasoned expert in fiscal planning and taxation in the Mexican energy industry, with more than 17 years of experience with major national and international companies. “We must not forget that the current government…

The U.S. active fracture (frack) spread count is climbing, with gains of up to 6% already this month from September, according to Tudor, Pickering, Holt & Co. In a preliminary note to clients, the analyst team said well completions activity is climbing in the Lower 48 since the start of the month. The domestic active…

Bolstered by increased oil drilling, particularly in the Permian Basin, the U.S. rig count climbed for a sixth straight week during the period ended Friday (Oct. 23), picking up five units to reach 287, according to the latest data from Baker Hughes Co. (BKR). A six-rig increase in domestic oil drilling offset a one-rig decline…

After multiple setbacks, liquefied natural gas (LNG) demand ramped up in a big way during the Oct. 15-21 period, tightening up supply/demand balances and boosting natural gas forward prices across the country, according to NGI’s Forward Look. November prices jumped an average 26.0 cents for the period, with double-digit gains extending through the winter months…

EQT Corp., the largest natural gas producer in the Lower 48, said Thursday it has ended another round of curtailments, but management said it won’t hesitate to continue shutting in volumes as low prices warrant.  The Appalachian pure-play had curtailed about 400 MMcf/d beginning Sept. 1, cutting 15 Bcf from third quarter production volumes. The…

Pioneer Natural Resources Co. struck a deal valued at $7.6 billion including debt late Tuesday to join forces with rival Parsley Energy Inc. in the second big Permian Basin tie-up this week. The combined company would hold substantial sway in the Permian, with an estimated 930,000 net acres and with no federal leases. At the…

Breakeven costs for all unsanctioned oil projects have fallen to around $50/bbl on average, down around 10% over the last two years and 35% since 2014.  With oil production less expensive to produce versus six years ago, the “clear cost savings winner” is offshore deepwater development, according to Rystad Energy’s latest assessment.  Rystad’s cost of…

President Trump continues to enjoy overwhelming financial support from the energy sector in the run-up to the Nov. 3 election. However, former Vice President Joseph R. Biden Jr. has gained some ground among industry donors and holds a lead in recent overall donations and in the polls. The president and Democratic nominee Biden are scheduled…

Dallas-based Permian Basin pure-play Pioneer Natural Resources Co. agreed late Tuesday to join forces with competitor Parsley Energy Inc. in an all-stock deal valued at $7.6 billion including debt. The combined company would hold substantial sway in the Permian, with an estimated 930,000 net acres with no federal leases. At the end of June, the…