Permian Basin

Natural Gas Drilling Total Up Four as Oil Activity Slows

Natural Gas Drilling Total Up Four as Oil Activity Slows

The U.S. natural gas rig count rose four units to 160 for the week ended Friday (Jan. 27), while an offsetting decline in oil-directed drilling left the combined domestic tally unchanged at 771 for the period, according to updated figures from Baker Hughes Co. (BKR). Countering the rise in natural gas activity, domestic changes for…

January 27, 2023
Permian Gains, GOM Declines as U.S. Drilling Total Steady in Latest BKR Tally

Permian Gains, GOM Declines as U.S. Drilling Total Steady in Latest BKR Tally

With gains in natural gas-directed drilling countered by declines in the oil patch, the U.S. rig count finished unchanged overall at 771 for the week ended Friday (Jan. 27), according to the latest numbers from Baker Hughes Co. (BKR). Domestic changes for the period included an increase of four natural gas-directed rigs and a decline…

January 27, 2023
Kinder Morgan’s Haynesville Natural Gas Gathering Volumes Jump 44%

Kinder Morgan’s Haynesville Natural Gas Gathering Volumes Jump 44%

Nearly a year after receiving federal approval, Kinder Morgan Inc. has sanctioned the 2 Bcf/d Evangeline Pass pipeline project that would feed Venture Global LNG Inc.’s Plaquemines LNG export facility. In a call with investors to discuss 4Q2022 earnings earlier this month, CEO Steven Kean said Kinder is moving forward with the $678 million Evangeline…

January 25, 2023
Matador Snagging More Permian Acreage in $1.6B-Plus Deal to Buy Advance Energy

Matador Snagging More Permian Acreage in $1.6B-Plus Deal to Buy Advance Energy

Matador Resources Co. has bolted on its largest deal yet in the Permian Basin in an agreement to acquire Advance Energy Partners Holdings LLC, with assets in New Mexico and West Texas.  The independent is providing an initial cash payment of  $1.6 billion, with an additional $7.5 million total paid monthly in 2023 if the…

January 25, 2023
Vitol Expanding U.S. Upstream Presence with Permian Delaware Acquisition

Vitol Expanding U.S. Upstream Presence with Permian Delaware Acquisition

Swiss commodities giant Vitol Inc. is adding to its Lower 48 upstream portfolio with the acquisition of privately held Delaware Basin Resources LLC (DBR). Vitol affiliate VTX Energy Partners LLC has entered a deal to acquire Midland, TX-based DBR and associated surface and water businesses for an undisclosed sum, management said Thursday. VTX is the…

January 23, 2023
North American E&P Spend to Increase 14% in 2023; Maintain in Appalachia, Grow in Haynesville

North American E&P Spend to Increase 14% in 2023; Maintain in Appalachia, Grow in Haynesville

Only a few U.S.-based exploration and production (E&P) companies have provided formal capital spending plans for 2023, but expenditures overall are forecast to decelerate from a year ago. E&P executives are surveyed twice a year by Evercore ISI to determine the level of capital expenditures (capex) and activity, which often are revised. Respondents indicated that…

January 19, 2023
Lower 48 Natural Gas, Oil Permitting Rebounds in December, Led by Texas and Wyoming

Lower 48 Natural Gas, Oil Permitting Rebounds in December, Led by Texas and Wyoming

U.S. natural gas and oil drilling permit activity ended the year surpassing expectations, climbing 13% in December or up by 389 permits from November, according to Evercore ISI. The energy analyst team led by James West compiles domestic permitting figures using state and federal data. Lower 48 permits often are issued three to six months…

January 18, 2023
Haynesville Still Leading Natural Gas Production Gains in Latest EIA Projections

Haynesville Still Leading Natural Gas Production Gains in Latest EIA Projections

Bolstered by another strong month of growth from the Haynesville Shale, domestic natural gas production from seven key onshore plays should grow to over 96.6 Bcf/d from January to February, updated modeling from the Energy Information Administration (EIA) shows. The agency said in its latest Drilling Productivity Report (DPR), published Tuesday, that it expects natural…

January 17, 2023
Brent to Fall to $78 Next Year as Global Inventories Rise, EIA Says

Brent to Fall to $78 Next Year as Global Inventories Rise, EIA Says

Amid increasing global inventories, Brent crude oil prices are expected to average $83/bbl in 2023, an 18% decline from 2022 levels, before falling further in 2024, according to updated projections from the U.S. Energy Information Administration (EIA). Next year may see prices for the global crude benchmark fall to $78, with rising global inventories expected…

January 12, 2023
Emerging U.S. Pipeline Bottlenecks Cast Shadow on Otherwise Positive Long-Term Outlook for Natural Gas

Emerging U.S. Pipeline Bottlenecks Cast Shadow on Otherwise Positive Long-Term Outlook for Natural Gas

As the United States works toward casting a wider net on the global natural gas market via exports, key domestic markets could be turned upside down in 2023 as midstream bottlenecks leave gas stranded in producing basins. LNG developers on the Gulf Coast are in a race to boost liquefied natural gas exports to capitalize…

January 11, 2023
‹ Previous 1 2 3 176