NGL

The United States added one natural gas rig to grow its tally to 91 for the week ending Friday (Feb. 19), while the departure of one oil-directed unit left the overall domestic tally unchanged, according to the latest data from Baker Hughes Co. (BKR). The combined U.S. rig count ended the period at 397, which…

Natural gas production from seven key U.S. shale plays is set to fall by a combined 560 MMcf/d from February to March as output from most major producing regions is expected to slow over the next month, according to the U.S. Energy Information Administration (EIA). Combined natural gas output from the Anadarko, Appalachian and Permian…

Major U.S. pipeline operator Energy Transfer LP said Wednesday it would pay $2.6 billion in an all-stock deal to acquire Enable Midstream Partners LP. Including debt, the transaction is valued at $7.2 billion. Energy Transfer, whose plan to expand the controversial Dakota Access crude oil pipeline has been met with repeated court challenges and setbacks,…

Bismarck, ND-based MDU Resources Group Inc. on Thursday reported record 2020 earnings across all of its businesses, including natural gas and power utilities in eight states. CEO David Goodin and senior executives said they expect continued growth in 2021 despite the Covid-19 pandemic as construction materials and services businesses accounted for nearly two-thirds of the…

The U.S. natural gas rig count remained unchanged at 88 during the week ending Friday (Jan. 29), while the ongoing recovery in domestic oil-directed drilling continued, according to the latest figures from oilfield services provider Baker Hughes Co. (BKR). On the strength of growth in the oil patch, the combined U.S. rig count rose six…

On the strength of growth in the oil patch, and in the Permian Basin in particular, the U.S. rig count continued its ascent during the week ending Friday (Jan. 29), climbing six units to 384, according to oilfield services provider Baker Hughes Co. (BKR). All of the net gains on the week were in oil-directed…

Canadian producer Enerplus Corp. has gained more exposure in North Dakota’s Bakken Shale with a $465 million takeover of Houston-based Bruin E&P HoldCo LLC. The deal announced Monday for the North Dakota assets of the Bakken pure-play is forecast to propel a 20% production jump for Calgary-based Enerplus to a combined 103,500-108,500 boe/d.  The acquired…

A two-year trend of rising proved reserves of natural gas and oil in the United States ground to a halt amid a decline in prices in 2019, according to the Energy Information Administration (EIA). Natural gas proved reserves decreased 1.9% year/year in 2019 to 494.9 Tcf from 504.5 Tcf. This is the first annual decrease…

The North American oil and natural gas midstream sector is certainly not “out of the woods,” but 2021 could look relatively “normal” in 2021, according to Raymond James & Associates Inc. Though driven largely by supply, the Raymond James team remains bullish on the price outlook across the hydrocarbon spectrum. The analysts said the demand-pull…