Oil

U.S. oil and natural gas producers cut methane and overall greenhouse gas (GHG) intensity significantly in 2021, according to the latest analysis of publicly available data by the Clean Air Task Force (CATF) and its partners. The intensity of both, or a measure of emissions relative to production, declined by roughly 30% between 2019 and…

Strong demand for industrial chemistry, from drilling fluids to additives that smooth pipeline flows for natural gas and oilfields, lit up first quarter earnings for CES Energy Solutions Corp. Improved results versus the same period last year resulted from “high levels of revenue underpinned by industry stabilization, and continued strong market share,” the oilfield services…

Ovintiv Inc. balanced its focus between its Permian Basin program and maximizing earnings from its Montney Shale assets during 1Q2023, exceeding production expectations and increasing revenue despite falling U.S. natural gas prices during the quarter. The Denver-based company made good on its word from the previous quarter about its goal to make Permian growth in…

Devon Energy Corp. has a bundle of opportunities from which to choose when it allocates its capital in the Lower 48, but it has always come down to the price of natural gas and oil, a top executive said this week. COO Clay Gaspar, speaking with analysts during the first quarter 2023 conference call, explained…

Canada’s largest natural gas producer, Tourmaline Oil Corp., is aiming to maximize its exposure to volatile North American markets, such as California, as well as global LNG pricing, management said last Thursday. CEO Michael Rose hosted a conference call to discuss first quarter results for Calgary-based Tourmaline, which operates throughout the Western Canadian Sedimentary Basin.…

Led by incremental growth from the Haynesville Shale, natural gas production from seven key Lower 48 regions is poised to climb above 97 Bcf/d in May, updated projections from the Energy Information Administration (EIA) show. In its latest Drilling Productivity Report (DPR), published Monday, EIA said it expects combined output from seven major U.S. onshore…

The weekly U.S. rig count reports may look cut-and-dried, but the seesaw in oil and natural gas activity doesn’t tell the full story. Just ask Patterson-UTI Energy Inc. CEO Andy Hendricks. It’s one thing to denote how many rigs are in operation and in what basins. A more pertinent question, though, is what type of…

U.S. associated natural gas output – a byproduct of oil production – is expected to grow through 2050, continuing and amplifying a long-term trend, according to a federal outlook. The Energy Information Administration (EIA) said in a research note this month that, in its benchmark scenario that considers only the laws and regulations adopted through…

U.S. oil producers ramped up output last week even as near- and long-term demand grew increasingly uncertain amid recession fears and a new push to shift American drivers to electric-powered cars and trucks. Domestic exploration and production (E&P) firms generated 12.3 million b/d of oil for the week ended April 7, according to the U.S.…