E&P

Houston-based Crescent Energy Co. has agreed to tie-up with cross-town rival SilverBow Resources Inc. to create one of the largest exploration and production companies in the Eagle Ford Shale of Texas, loaded with natural gas, liquids and oil opportunities. The estimated $2.1 billion transaction, announced Thursday, comes about a month after activist investor Kimmeridge Energy…

Combined natural gas production from seven key Lower 48 plays is expected to ease lower in June, with declines from gas-weighted plays continuing to offset increasing associated output from the Permian Basin, according to updated projections from the U.S. Energy Information Administration (EIA). In its latest Drilling Productivity Report (DPR), published Monday, EIA said it…

Alberta’s Canadian Natural Resources Ltd. is taking a glass-half-full view of the current natural gas price slump, according to CEO Scott Stauth. Stauth hosted a conference call to discuss first quarter earnings for Calgary-based Canadian Natural, one of the country’s largest independent natural gas producers. The company’s gas-focused operations target the Montney Shale and Alberta…

“My first hope for the next presidential administration in Mexico, whoever wins, is that they are receptive and listen to the voices of the sector,” Beatriz Marcelino, CEO of Grupo CIITA, told NGI’s Mexico GPI. “During the first years of this administration, the doors were closed for us and members of the sector and we…

The U.S. natural gas rig count inched up by one to 103 operating for the week ended Friday (May 10), according to updated figures from oilfield services provider Baker Hughes Co. (BKR). The 103 active U.S. natural gas rigs as of Friday represented a decline of 38 rigs versus the year-earlier count of 141, according…

BP plc will continue to pump out “prolific” natural gas volumes from the Haynesville Shale as hedges are in place pricing the supply at around $4.00/Mcf through this year, CEO Murray Auchincloss said Tuesday.  Auchincloss discussed first quarter performance during a conference call. He was asked why domestic gas volumes continue to be high in…

Canada’s largest natural gas producer, Tourmaline Oil Corp., is using hedging and a diversified marketing strategy to counteract low prices for the commodity in Western Canada, management said.  CEO Michael Rose hosted a conference call to discuss first quarter earnings for Tourmaline, which operates in the Alberta Deep Basin, the Montney Shale and the Peace…

The U.S. Energy Information Administration (EIA) is projecting a Henry Hub natural gas spot price average at $2.20/MMBtu for 2024, unchanged from the average price the agency modeled a month earlier.  In the May release of its Short-Term Energy Outlook (STEO), published Tuesday, EIA said it expects Henry Hub spot prices to average $3.10 for…

Multi-basin exploration and production firm EOG Resources Inc. is managing its natural gas program to align with demand dynamics, management said in its first quarter earnings call. “While we expect the natural gas market to remain soft through the end of this quarter, much like last year, we expect it to strengthen through the second-half…