Permian Basin

New Mexico’s Reliance on Fossil Fuels Said Facing Reckoning from Volatile Oil Prices

New Mexico’s Reliance on Fossil Fuels Said Facing Reckoning from Volatile Oil Prices

New Mexico’s fiscal health is undergoing an “unprecedented sea change” with global markets signaling the “beginning of the end” for the state’s financial reliance on fossil fuels, the Institute for Energy Economics and Financial Analysis (IEEFA) reported Tuesday. IEFFA’s Tom Sanzillo, director of finance, co-authored the report with energy policy analyst Suzanne Mattei.  “Leases, royalty…

October 20, 2020
U.S. Patch Sees Modest Uptrend as Oil Activity Rises

U.S. Patch Sees Modest Uptrend as Oil Activity Rises

A bump in oil drilling raised the domestic rig count five units to 266 for the week ending Friday (Oct. 2), according to Baker Hughes Co. (BKR), marking the third straight weekly net increase in activity for a beleaguered U.S. exploration and production industry. A six-rig increase in oil rigs offset a one-rig decline in…

October 2, 2020
Natural Gas-Rich Haynesville, Marcellus Add Rigs as U.S. Posts Small Gain

Natural Gas-Rich Haynesville, Marcellus Add Rigs as U.S. Posts Small Gain

Boosted by gains in the Haynesville and Marcellus shales, the U.S. rig count added one unit overall to finish at 255 for the week ending Friday (Sept. 18), according to the latest figures from Baker Hughes Co. (BKR). The addition of two natural gas-directed rigs in the United States offset the departure of one oil-directed…

September 18, 2020
LNG Uncertainty Weighs Down October Natural Gas, but Better Pricing Seen for Winter, Beyond

LNG Uncertainty Weighs Down October Natural Gas, but Better Pricing Seen for Winter, Beyond

Natural gas exports, hammered by Hurricane Laura only days after reaching levels not seen since pre-Covid-19, were at the forefront of a steep decline in October forward prices during the Aug. 27-Sept. 2 period. The rest of the forward curve fared better, however, as the potential for further production decreases and stronger global demand this…

September 3, 2020
Permian Highway Cleared to Continue Building 2 Bcf/d Texas Pipeline

Permian Highway Cleared to Continue Building 2 Bcf/d Texas Pipeline

The Sierra Club’s allegations “come close” to demonstrating “harm to the environment,” but a district court in Texas still shot down a request to halt construction of the Permian Highway Pipeline (PHP), a conduit designed to move about 2 Bcf/d to the Texas Coast. Sponsor Kinder Morgan Inc. earlier in August reaffirmed the 42-inch diameter,…

August 31, 2020
U.S. Rig Count Steady Overall as Haynesville Up, Permian Down

U.S. Rig Count Steady Overall as Haynesville Up, Permian Down

Gains in natural gas-directed drilling offset a drop in oil activity to leave the U.S. rig count unchanged at 254 during the week ended Friday (Aug. 28), according to the latest data from oilfield services provider Baker Hughes Co. (BKR). The United States added three natural gas rigs and lost three oil rigs for the…

August 28, 2020
Early 2021 Start Still Eyed for Permian Highway Natural Gas System

Early 2021 Start Still Eyed for Permian Highway Natural Gas System

The 2 Bcf/d Permian Highway Project (PHP), designed to move West Texas supply to the Texas coast, remains on schedule for completion in early 2021, according to Kinder Morgan Inc. In an opinion piece published last week in the Houston Chronicle, CEO Steven Kean said management had determined the “best option” for the 42-inch diameter,…

August 19, 2020
Natural Gas Services Sees Permian Horsepower Climbing, ‘Improving’ Opportunities in Lower 48

Natural Gas Services Sees Permian Horsepower Climbing, ‘Improving’ Opportunities in Lower 48

Lower 48 shut-ins are coming back online, bringing a renewed call for more horsepower as operators complete wells, with “stable to modestly improving” activity to the end of the year, the chief of Natural Gas Services Group Inc. (NGSG) said Tuesday. CEO Stephen Taylor discussed the second quarter results during a conference call. The Midland,…

August 19, 2020
New Mexico Court Upholds BLM Oil, Gas Auctions, but Urges Public Participation in Future Sales

New Mexico Court Upholds BLM Oil, Gas Auctions, but Urges Public Participation in Future Sales

A New Mexico district court on Tuesday said recent oil and gas auctions held by federal authorities were properly conducted, but it said the public must be allowed to participate in future sales. The U.S. District Court for the District of New Mexico overall ruled against WildEarth Guardians, which challenged approval by the Department of…

August 19, 2020
Natural Gas Production from Seven Key Plays to Slide to 79.2 Bcf/d in September, EIA Says

Natural Gas Production from Seven Key Plays to Slide to 79.2 Bcf/d in September, EIA Says

Both natural gas and oil production from seven key U.S. onshore plays is set to decline in September, continuing a downtrend that began earlier this year, according to the latest Drilling Productivity Report (DPR) published Monday by the Energy Information Administration (EIA). EIA expects natural gas production from the Anadarko, Appalachian, Denver Julesburg-Niobrara and Permian…

August 18, 2020
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