NGI Archives

More than 3,000 people based in Houston have been furloughed by Halliburton Co., while ConocoPhillips and other big producers continue to cut capital spending in an increasingly dire situation, as the coronavirus and oil price war sink 2020 operating plans.

The onslaught of North American producers cutting back spending and activity continued with the start of the week, with EQT Corp., EOG Resources Inc., Whiting Petroleum Corp. and Canadian operators pulling back as oil prices — and demand — are slaughtered.

Natural gas production from seven of the most prolific onshore U.S. unconventional plays is likely to decline in April compared with March, and oil production will remain nearly unchanged, according to the Energy Information Administration (EIA).

The Senate voted 52-40 Thursday to confirm James Danly to be a member of the chronically short-handed FERC.

Mexico Pacific Limited LLC (MPL) has awarded a front-end engineering design (FEED) contract to Technip USA for its planned liquefied natural gas (LNG) project on Mexico’s Pacific Coast.

An expected decline in domestic natural gas production and increased power sector demand will push prices to an average $2.22/MMBtu in 3Q2020, but Henry Hub spot prices will average just $2.11 for the full year, according to the Energy Information Administration (EIA).

With a long-term strategy less tied to commodity prices than global energy demand, ExxonMobil is keying its 2020 plans to a string of opportunities in the Permian Basin, deepwater Guyana discoveries and two big natural gas export projects overseas.

Argentina’s prolific Vaca Muerta shale play is going through a period of uncertainty as the new leftwing government in Buenos Aires devises plans for its energy sector, according to analysts.

U.S. firm New Fortress Energy (NFE) is advancing construction of a liquefied natural gas (LNG) receiving and regasification terminal in the port of Pichilingue, Baja California Sur, Mexico.