North America ///

Shale drillers lose most-precious asset -- the $90 hedge

The insurance protecting shale drillers against plummeting prices has become so crucial that for one company, SandRidge Energy Inc., payments from the hedges accounted for a stunning 64% of first-quarter revenue.

Shell moves ahead with deepwater Appomattox development in Gulf of Mexico

THE HAGUE -- Royal Dutch Shell has announced the final investment decision (FID) to advance the Appomattox deepwater development in the Gulf of Mexico. This decision authorizes the construction and installation of Shell’s eighth and largest floating platform in the Gulf of Mexico.

Canada’s NEB approves Quicksilver's LNG export license

Canada’s National Energy Board (NEB) has approved the application of Quicksilver Resources Canada Inc. for a 25-year natural gas export license with a maximum term quantity of 733 Bcm. The issuance of this license is subject to the approval of the Governor in Council.

OPEC crude production surges as Iraq pumps at record pace

Iraqi crude production climbed to a record this month, helping send OPEC output to the highest level since August 2012.

Oklahoma woman blaming fracing for quake can sue oil firms

New Dominion LLC can be sued by an Oklahoma woman injured when her fireplace fell on her during an earthquake that she blames on disposal wells tied to fracking.

Applus+ awarded trio of contracts on Ichthys LNG project

Applus+ has been awarded a trio of contracts worth $17.35 million (AUS$22.5 million) for work on the Ichthys LNG Project’s onshore LNG facilities.

Oil holds losses below $60 as nuclear talks set to miss deadline

Oil held losses below $60/bbl as investors weighed the prospects of Iran increasing crude exports in an oversupplied market.

DCP Midstream Partners' Lucerne 2 plant now serving DJ Basin

DCP Midstream Partners' new 200 MMcfd Lucerne 2 natural gas processing plant is now in service, increasing the partnership's processing capacity in the DJ Basin to approximately 400 MMcfd.

Xodus secures new ZADCO vibration contract

Xodus Group has been awarded a contract for the vibration assessment and analysis on the oil train piping and structures for Zakum Development company (ZADCO) at Zirku Island, 140 km north-west of Abu Dhabi.

Logan Industries to supply CCTLF system for Maersk drillship

Logan Industries, based in Hempstead Texas, has recently been awarded with an order for a Compensated Coiled Tubing Lift Frame (CCTLF) for Maersk Drilling. The CCTLF system will be designed and built in-house and is expected to be delivered to Maersk in Q2 2016.

New York bans fracing with release of seven-year study

New York state has officially banned hydraulic fracturing. The state, following through on a decision Democratic Governor Andrew Cuomo made in December, released its formal study of the drilling practice Monday after almost seven years of study.

Fugro, Cross Group awarded multi well contract in Gulf of Mexico

Fugro’s dynamically positioned multi-purpose drilling, well intervention and geotechnical vessel, Fugro Synergy, is proving her capabilities on a multi well intervention campaign which recently started in the Gulf of Mexico.

Oil sands prepared to take greater role to tackle climate change, CAPP says

Canada’s oil sands producers are prepared to take a greater leadership role on climate action as part of the growing global intention to reduce greenhouse gas emissions, the Canadian Association of Petroleum Producers (CAPP) said.

CAPP seeks 4-point royalty plan to make Alberta more competitive

The Alberta government should consider four principles to make the province more competitive for of oil and gas investment as it proceeds with its royalty review, the Canadian Association of Petroleum Producers said Friday.

Husky Energy starts production at South White Rose extension

Husky Energy has started production from the South White Rose project in the Jeanne d'Arc basin offshore Newfoundland and Labrador.

U.S. rig count rises as oil-directed rigs drop for 29th week: Baker Hughes

The U.S. rig count has ended a 28-week slide with Baker Hughes reporting the first addition of rigs since Dec. 5.

LLOG awards Otis field subsea tieback contract to McDermott

McDermott International has been awarded a sizeable lump-sum contract by LLOG Exploration Offshore in support of LLOG’s Otis development in the Gulf of Mexico.

Oil holds losses below $60 amid oversupply as volatility sinks

Oil held losses below $60/bbl as near-record U.S. production prolonged an oversupply amid the lowest trading volatility in eight months.

Umbilicals International invests in dynamic cable production

Umbilicals International, part of the Seanamic Group, has invested over $2 millions in new cable manufacturing lines at its Houston production facility. The two lines will streamline cable production, and marks a significant expansion of the company's dynamic cable manufacturing capability.

Patterson-UTI Energy announces passing of co-founder

Patterson-UTI Energy has announced the passing of A. Glenn Patterson, one of the original founders of the company. Patterson served as the president and COO of the company from 1978 until his retirement in May 2006.