Permian Basin

France’s Engie Delays Finalizing U.S. LNG Deal With NextDecade Over Emissions Concerns

France’s Engie Delays Finalizing U.S. LNG Deal With NextDecade Over Emissions Concerns

French energy company Engie SA has indefinitely postponed signing a long-term deal to buy liquefied natural gas (LNG) from the proposed Rio Grande LNG facility in Texas because of French government concerns over hydraulic fracturing (fracking), a person close to the matter told NGI on Friday. “What is very clear is that Engie postponed discussions…

October 26, 2020
Permian Giants Pioneer, Parsley Agree to Join Forces in $7.6B All-Stock Transaction

Permian Giants Pioneer, Parsley Agree to Join Forces in $7.6B All-Stock Transaction

Dallas-based Permian Basin pure-play Pioneer Natural Resources Co. agreed late Tuesday to join forces with competitor Parsley Energy Inc. in an all-stock deal valued at $7.6 billion including debt. The combined company would hold substantial sway in the Permian, with an estimated 930,000 net acres with no federal leases. At the end of June, the…

October 20, 2020
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
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