Other Plays

Crescent Point Sees Duvernay Driving Steady Improvement in 2021

Crescent Point Sees Duvernay Driving Steady Improvement in 2021

Crescent Point Energy Corp. regained profitability and emerged as an unconventional natural gas producer during the first three months of this year. The Calgary producer predicted steady improvement for the rest of 2021 would result from the C$900 million ( $720 million) purchase in February of 500 square miles of liquids-rich Duvernay formation acreage from…

May 19, 2021
U.S. Adds Six Rigs on Strength of Oil Activity; Natural Gas Count Steady

U.S. Adds Six Rigs on Strength of Oil Activity; Natural Gas Count Steady

Another round of healthy gains in the oil patch pushed the U.S. rig count six units higher to 417 for the week ended Friday (March 26), according to data from oilfield services provider Baker Hughes Co. (BKR). After adding nine rigs in the previous week, the domestic oil patch picked up an additional six rigs…

March 26, 2021
Canada’s Tourmaline Gets Natural Gas Production Bump After Acquisitions

Canada’s Tourmaline Gets Natural Gas Production Bump After Acquisitions

Canadian independent Tourmaline Oil Corp. broke production records in 4Q2020 after a pair of acquisitions boosted its output. The independent which has assets in British Columbia and Alberta, said recently it exited the quarter producing more than 400,000 boe/d after acquiring smaller Canadian players Jupiter Resources Inc. and Modern Resources Inc. in December. The deals…

March 19, 2021
Chevron Putting Priority on Carbon Reduction, with Onshore Emphasis in Permian, Duvernay and Vaca Muerta

Chevron Putting Priority on Carbon Reduction, with Onshore Emphasis in Permian, Duvernay and Vaca Muerta

Chevron Corp. CEO Michael Wirth during the annual investor meeting on Tuesday said the supermajor’s message to investors could best be summed up in four words: higher returns, lower carbon.  Wirth, together with his executive team, laid out a broad global development plan centered around increasing returns on capital employed while slicing the carbon intensity…

March 9, 2021
Continental Forecasting Sixth Straight Year of Positive FCF as Oil Prices Strengthen

Continental Forecasting Sixth Straight Year of Positive FCF as Oil Prices Strengthen

Continental Resources Inc. expects to generate positive free cash flow (FCF) for a sixth straight year in 2021 amid an improving outlook for oil prices, according to management. During a Feb. 17 conference call to discuss the firm’s 2020 earnings, Executive Chairman Harold Hamm cited “unprecedented challenges” faced in 2020 due to the Covid-19 pandemic,…

February 28, 2021
Oklahoma Natural Gas Prices Hit Fresh $1,250/MMBtu High as Industry Struggles Continue Amid Record Cold

Oklahoma Natural Gas Prices Hit Fresh $1,250/MMBtu High as Industry Struggles Continue Amid Record Cold

Amid a seemingly never-ending wave of Arctic air that crippled infrastructure in the so-called energy capital of the world and across the country’s midsection, resulting in widespread power outages, natural gas prices continued to reach new heights in Oklahoma on Wednesday. Next-day gas prices soared into the thousands in the Sooner State, according to NGI…

February 17, 2021
Natural Gas Prices Hit Historic $999/MMBtu High as Unrivaled Cold Strains Supply, Fuels Record Demand

Natural Gas Prices Hit Historic $999/MMBtu High as Unrivaled Cold Strains Supply, Fuels Record Demand

Natural gas futures soared Tuesday following a historic Arctic freeze that crippled much of the nation’s natural gas infrastructure as demand soared to unprecedented levels. The March Nymex gas futures contract settled at $3.129/MMBtu, up 21.7 cents from Friday. April prices lagged a bit, climbing 10.7 cents to $2.983. Cash prices remained volatile after the…

February 16, 2021
Natural Gas Futures Take Back Seat to Cash as ‘Punishing’ Cold Drives Largest Increases ‘In Years’

Natural Gas Futures Take Back Seat to Cash as ‘Punishing’ Cold Drives Largest Increases ‘In Years’

Intraday natural gas price volatility was on full display midweek as traders assessed the impacts of a substantial, though likely temporary, decline in export demand and the potential for a more moderate end-of-February following some of the coldest weather in years. After tumbling to a $2.741/MMBtu intraday low, the March Nymex gas futures contract bounced…

February 10, 2021
Midcontinent Execs See ‘Substantial’ Jump in Drilling When Oil Averages $56, Natural Gas at $3.28

Midcontinent Execs See ‘Substantial’ Jump in Drilling When Oil Averages $56, Natural Gas at $3.28

Oil and natural gas activity in the Midcontinent expanded moderately in the final three months of 2020, but it still lagged year-ago levels, according to a survey by the Federal Reserve Bank of Kansas City. Energy operators also said they need West Texas Intermediate (WTI) oil to average $56/bbl “for a substantial increase in drilling…

January 11, 2021
Controversial Wyoming Oil, Gas Project in PRB Moving Forward After Favorable BLM Decision

Controversial Wyoming Oil, Gas Project in PRB Moving Forward After Favorable BLM Decision

A Bureau of Land Management (BLM) decision to allow year-round oil and natural gas drilling within 1.5 million acres of federal and Wyoming state land has ended a six-year stalemate among a consortium of producers and regulators. The BLM decision allows the exploration and production (E&P) companies to drill on 1,500 multi-well pads within the…

January 5, 2021
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