North America ///

For OPEC, this year’s painful oil slump will bring gains in 2016

While OPEC’s fight to snatch market share from rival oil producers might look like a costly failure as prices languish below $50/bbl, an entirely different picture could emerge next year.

Oil surges most in six years on faster U.S. economic growth

Oil jumped the most in more than six years, caught up in a relief rally that swept the globe as the U.S. economy grew more than predicted.

EIA expects near-term decline in natural gas production in major shale regions

Natural gas production across all major shale regions in EIA's Drilling Productivity Report (DPR) is projected to decrease for the first time in September. Production from these seven shale regions reached a high in May at 45.6 Bcfd and is expected to decline to 44.9 Bcfd in September.

Schlumberger's $14.8-billion Cameron purchase could inspire more deals

Schlumberger Ltd.’s takeover of Cameron International Corp. could inspire more dealmaking.

Oil industry needs to find half a trillion dollars to survive

At a time when the oil price is languishing at its lowest level in six years, producers need to find half a trillion dollars to repay debt. Some might not make it.

Global energy deals now surpass dawn of oil ‘supermajors’ era

If there was any question over whether this year’s oil crash would give rise to a new era of energy megadeals, there isn’t anymore.

Danos wins contract for Shell’s deepwater Appomattox project

Danos has been selected by Shell Offshore Inc. to fabricate three boarding valve skid assemblies for its deepwater Appomattox project.

Eagle Ford production remains resilient, Wood Mac says

Despite the slowdown, production growth in the Eagle Ford remains resilient as sweet spots emerge across all active sub-plays according to Wood Mackenzie's North America Key play analysis.

Oil industry crash leaves Wall Street playing catchup

Bad news is pouring down on the U.S. oil industry so quickly that analysts can’t keep up.

Oil trades below $40 as China turmoil adds to oversupply concern

Oil swung between gains and losses in New York as further declines in China’s stock market fanned concern that its fuel demand may slow while global crude markets remain oversupplied

Transocean targets dividend payout as asset writedowns mount

Transocean Ltd., the offshore oil-rig operator that lost two-thirds of its value in the past year, plans to cancel its dividend and record 2 billion Swiss francs ($2.1 billion) in asset impairments as free-falling crude prices slash demand for drilling vessels.

Blame oil glut on investors who still love drilling over profits

Investors sent a surprising message to U.S. shale producers as crude fell almost 20% in August: keep calm and drill on.

Encana to sell Haynesville natural gas assets

Encana Oil & Gas (USA) Inc. has reached an agreement to sell its Haynesville natural gas assets, in northern Louisiana, to GEP Haynesville, LLC.

Energy companies cheaper than assets after rout, Oil Search says

Oil and gas companies are looking more attractive to buy than individual assets following the plunge in share prices, according to Oil Search Ltd., Exxon Mobil Corp.’s partner in Papua New Guinea.

Out in the real world, oil market is much better than it looks

The global oil market is healthier than it looks, signaling that crude’s plunge to six-year lows has probably gone too far.

Hydrocarb completes well at 1,500 Mcfgd

Hydrocarb Energy Corporation disclosed Monday that its Galveston Bay State Tract 246 well #181 has been completed at a rate of 1,500,000 cfgd, through a 12/64-in. choke, from the Frio 7 formation.

Bullish oil bets sink to 5-year low as futures flirt with $40

It’s pretty lonely being an oil bull these days.

Brent slides below $45 as Iran pledge worsens oil-supply outlook

Oil in London slid below $45/bbl for the first time since March 2009 as Iran reiterated it will boost production and U.S. drillers showed no signs of slowing.

Congress likely to repeal oil export ban in 2016, Evercore says

Legislation to repeal a 40-year ban on most domestic oil exports will probably become law in the first quarter of next year, according to analysts at Evercore ISI.

Oil poised for longest weekly losing streak since 1986 amid glut

Oil headed for the longest run of weekly declines in almost three decades on signs the supply glut that drove prices to a six-year low will be prolonged.