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Precision’s Canada Rig Count Usurps 2019 Levels, with U.S. E&P Demand Emerging

Precision’s Canada Rig Count Usurps 2019 Levels, with U.S. E&P Demand Emerging

Precision Drilling Corp., whose operations extend across Canada, the Lower 48 and overseas, is running more rigs today than in the pre-pandemic days of 2019, with activations now underway, according to CEO Kevin Neveu. Speaking to investors during the 2Q2021 conference call, Neveu said the Calgary-based oilfield services giant delivered higher-than-expected revenue during 2Q2021.  In…

July 27, 2021
Whale of Oil, Gas Reserves Forecast to Flow by 2024 as Shell Sanctions Deepwater GOM Field

Whale of Oil, Gas Reserves Forecast to Flow by 2024 as Shell Sanctions Deepwater GOM Field

Shell Offshore Inc. on Monday pulled the trigger to develop Whale, its 12th deepwater host in the Gulf of Mexico (GOM), which could see peak production of 100,000 boe/d. The Alaminos Canyon field in Block 773, about 200 miles southwest of Houston, was discovered in 2017. The Royal Dutch Shell plc subsidiary operates the field…

July 27, 2021
Canadian Oilsands Player Meg Energy Back in Black on Stronger Prices, Gulf Coast Exports

Canadian Oilsands Player Meg Energy Back in Black on Stronger Prices, Gulf Coast Exports

Increased production, improved prices and strong exports to the United States turned Canadian oilsands specialist Meg Energy Corp. profitable in the first half of 2021, reversing deep losses inflicted a year ago by the Covid-19 pandemic. The Calgary firm’s bitumen production in northeastern Alberta grew to a first-half 2021 average of 91,326 b/d from 83,622…

July 26, 2021
CNX Resources Says E&P, Midstream Operations are Carbon Negative

CNX Resources Says E&P, Midstream Operations are Carbon Negative

Appalachian pure-play CNX Resources Corp. said Wednesday that it’s net carbon negative for Scope 1 and 2 emissions, stressing a “tangible” accomplishment at a time when its peers are advancing ambitious goals to cut environmental footprints in the future.  Announced along with the release of its corporate responsibility report, the company said it believes it’s…

July 24, 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
Ohio Oil and Gas Production Saw Steep Declines During Pandemic

Ohio Oil and Gas Production Saw Steep Declines During Pandemic

Ohio’s oil and natural gas production dropped last year as operators shut in volumes and curbed activity amid the Covid-19 pandemic, according to the Ohio Oil and Gas Association’s (OOGA) annual Debrosse Memorial Report.   Natural gas production fell by 10% year/year to 2.4 Tcf in 2020, according to estimates included in the report. Oil production…

July 23, 2021
Permian Leads Surge in Land Activity as U.S. Rig Count Rises to 491

Permian Leads Surge in Land Activity as U.S. Rig Count Rises to 491

A ramp-up in oil drilling, especially in the Permian Basin, sent the U.S. rig count surging seven units higher to 491 for the week ended Friday (July 23), the latest numbers from oilfield services provider Baker Hughes Co. (BKR) show. All of the net gains domestically for the week occurred in the oil patch, with…

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
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