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Range Resources Reports Highest Ever NGL Premium Amid Booming International Demand

Range Resources Reports Highest Ever NGL Premium Amid Booming International Demand

Appalachian pure-play Range Resources Corp. reported the highest natural gas liquids (NGL) premium to the Mont Belvieu, TX, benchmark in its history during the second quarter and recorded its best NGL price since 2014 as demand for fuels like ethane and propane has soared this year.  Range’s unhedged realized NGL price for the quarter was…

July 27, 2021
Schlumberger Sees International Activity Leading Post-Covid Recovery, while North America Growth Moderates

Schlumberger Sees International Activity Leading Post-Covid Recovery, while North America Growth Moderates

The head of oilfield services (OFS) giant Schlumberger Ltd. said the company is “seizing the beginning of the upcycle,” with international activity expected to lead growth — and North America set to moderate — in the continued recovery from Covid-19. On the 2Q2021 earnings call with investors Friday, CEO Olivier Le Peuch said that while…

July 24, 2021
Baker Hughes Bullish on Global Natural Gas Market; Investment in Energy Transition Continues

Baker Hughes Bullish on Global Natural Gas Market; Investment in Energy Transition Continues

Baker Hughes Co. (BKR) has made investment in “new energy frontiers” a key part of its strategy moving forward, but management for the oilfield services provider still sees a bright outlook for the global natural gas market. Remarking on the company’s recently released 2Q2021 financial results, CEO Lorenzo Simonelli struck an optimistic tone when discussing…

July 23, 2021
Colorado Health Department Launches Airborne Methane Emissions Monitoring

Colorado Health Department Launches Airborne Methane Emissions Monitoring

Last week, Colorado’s Department of Public Health and Environment (CDPHE) went airborne to survey methane emissions at major oil and gas sites in the Denver-Julesburg Basin.  This was the first of many flights scheduled for 2021, according to CDPHE. Aerial monitoring will continue over Boulder, Weld and Larimer counties, with more concentrated aerial surveys in…

July 23, 2021
TSA Adds More Stringent Cybersecurity Requirements for U.S. Natural Gas, Oil Pipelines

TSA Adds More Stringent Cybersecurity Requirements for U.S. Natural Gas, Oil Pipelines

The Transportation Security Administration (TSA) on Tuesday handed down another set of directives aimed at protecting critical pipelines that transport hazardous liquids and natural gas against cyber attacks. The second security directive, issued two months after the initial orders were put out, requires owners and operators of TSA-designated critical pipelines to implement specific mitigation measures…

July 23, 2021
Halliburton Anticipating ‘Multi-Year Upcycle’ After Improving on Income, Revenue in 2Q2021

Halliburton Anticipating ‘Multi-Year Upcycle’ After Improving on Income, Revenue in 2Q2021

Following a second quarter of across-the-board sequential improvement for the company’s financial metrics, including a 12% increase in revenue for its North America segment, management for Halliburton Co. sees itself at the start of a “multi-year upcycle.” Reported quarterly losses in 2020 were steep, but after getting back into the black financially in the first…

July 22, 2021
More U.S. Natural Gas Rigs Added as Count Reaches 104

More U.S. Natural Gas Rigs Added as Count Reaches 104

The U.S. natural gas rig count climbed three units to 104 during the week ended Friday (July 16) as domestic drillers turned in another week of steady gains, the data from oilfield services provider Baker Hughes Co. (BKR) show. Three natural gas-directed rigs and two oil-directed rigs were added during the week as the overall…

July 16, 2021
E&Ps to Repeat Capital Discipline Mantra in 2Q Results, but OFS May Signal Price Increases

E&Ps to Repeat Capital Discipline Mantra in 2Q Results, but OFS May Signal Price Increases

Look for North America’s oil and natural gas producers to keep the capital discipline message going when second quarter results roll out, with oilfield services (OFS) operators alerting customers that equipment and supply prices are going to increase. Three of the world’s top OFS companies kick off quarterly results in the coming days, with the…

July 16, 2021
Lower 48 Natural Gas Output to Rise in August on Permian, Haynesville Growth, Says EIA

Lower 48 Natural Gas Output to Rise in August on Permian, Haynesville Growth, Says EIA

The Permian Basin and Haynesville Shale are expected to spur an overall increase in natural gas production among seven key U.S. onshore producing regions in August, according to updated projections from the Energy Information Administration (EIA). The agency said in its latest Drilling Productivity Report, released Tuesday, that it expects natural gas output from seven…

July 13, 2021
NGI’s Hub & Flow Podcast Dives into What’s Moving Mexico Natural Gas Market

NGI’s Hub & Flow Podcast Dives into What’s Moving Mexico Natural Gas Market

Click here to listen to the latest episode of NGI’s Hub & Flow podcast in which the fundamentals impacting the Mexican natural gas market are explored. In this latest podcast, NGI’s Mexico Gas Price Index Senior Editor Christopher Lenton speaks to renowned Mexico energy expert Gonzalo Monroy about the hottest topics impacting the natural gas…

July 11, 2021
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