NGL

Alberta oilsands specialist Cenovus Energy Inc. staged a recovery during the first three months of this year, fueled by its C$3.8 billion ($3 billion) all-stock takeover of Husky Energy Inc. Oil and natural gas liquids production, 90% dominated by northern Alberta bitumen extraction, jumped by 49% to 620,090 b/d from 416,802 b/d a year earlier.…

The U.S. Environmental Protection Agency (EPA) on Friday took steps to gather input for a proposed rule to reduce methane and other pollutants from new and existing sources in the oil and natural gas industry. The “broad public outreach effort” would include community and stakeholder input. Among other things, EPA is planning listening sessions and…

The U.S. onshore drilling permit count bounced up during April, both month/month (m/m) and compared with a year earlier, with double-digit growth in many major plays. According to the monthly compilation by Evercore ISI, permitting in April jumped 19% from March and was up 13% from April 2020.  The Denver-Julesburg (DJ) Basin in Colorado “experienced…

Harping on the need for storage to meet critical demand during Winter Storm Uri, Oneok Gas Transmission is gauging market interest in more than 1 Bcf of incremental firm storage capacity at its West Texas natural gas storage facilities. Management for the Oklahoma midstream company said the natural gas pipelines segment fetched $105 million in…

Houston-based Shell Offshore Inc. on Tuesday disclosed a “significant discovery” at the deepwater Leopard prospect in the Perdido Corridor of the Gulf of Mexico (GOM). The Royal Dutch Shell plc subsidiary said the Leopard well in Alaminos Canyon Block 691 encountered more than 600 feet (183 meters) net oil pay at several levels. Few other…

Bakken Shale producer Whiting Petroleum Corp. posted higher 1Q2021 revenues despite lower production as commodity prices strengthened. Output declined in the first quarter to 8.1 million boe from 8.44 million boe in 4Q2020. Natural gas production totaled 10.3 Bcf compared to 10.7 Bcf in 4Q2020, while natural gas liquids (NGL) output rose slightly to 1.56…

Permian Basin pure-plays Laredo Petroleum Inc. and Centennial Resource Development Inc. each reported production impacts from the freezing weather wrought by Winter Storm Uri during February, but the storm also resulted in a sharp uptick in revenue from selling more oil and gas.  Tulsa,OK-based Laredo reported Permian volumes were down year/year at 78,989 boe/d from…

Executives at Appalachian pure-play Antero Resources Corp., the nation’s second largest natural gas liquids (NGL) producer, are warning that without an adequate build in propane inventories through the fall, the world would be undersupplied this winter.  “U.S. domestic propane buyers will need to outbid export markets this summer to build sufficient inventories for this upcoming…

Range Resources Corp. got a boost from improved commodity pricing in 1Q2021, including a 44% rise in natural gas prices and a 77% increase in natural gas liquids (NGL) prices. The Appalachian Basin pure-play on Tuesday reported an average realized natural gas price of $2.58/Mcf compared to $1.74/Mcf a year ago.  Range also reported an…