North America ///

Husky Energy sees potential for acquisitions on smaller second-quarter loss

Canadian oil and gas producer Husky Energy Inc. sees an increased opportunity for asset purchases, but will have a "high bar" for determining whether to buy, company CEO Rob Peabody said on Friday.

After biggest gas leak in U.S. history, Aliso Canyon field set to reopen

Almost two years after the biggest gas leak in U.S. history sprung from a Sempra Energy natural gas storage field in Southern California, the state is ready for the complex to reopen.

Encana exceeds profit estimates, expects strong 2018

Canadian oil and gas producer Encana Corp. on Friday posted a quarterly profit that handily beat estimates and the company said it was expecting a strong 2018, even with current commodity prices.

U.S. fines Exxon Mobil over violations of Russia sanctions

The U.S. Treasury Department on Thursday said it was fining global oil company Exxon Mobil Corp. $2 million for violating sanctions on Russia in May 2014.

2016 SPE President Nathan Meehan to keynote ShaleTech Permian conference

Former SPE President Nathan Meehan (2016), President of Gaffney, Cline & Associates, will deliver the keynote address at World Oil’s inaugural ShaleTechTM Permian conference in October.

Keystone Test Facility enhances efficiencies, reliability with new testing resource

Keystone Test Facility (KTF) brings a new testing resource to the drilling industry with some very useful and innovative features that will enable test engineers a broader range of opportunities.

Oil steadies amid mixed signals on U.S. crude inventories

Oil was steady amid mixed signals on U.S. crude inventories, with industry data showing supplies increased last week while government statistics were expected to indicate a decline.

Top oil market summons Poseidon to U.S.-Mideast crude fight

Poseidon is wading into the battle between U.S. crude and Middle East supplies in the world’s biggest oil market.

API: Modernizing NAFTA to strengthen North American energy markets will benefit consumers

API President and CEO Jack Gerard was pleased to see the administration’s recommendations for modernizing the North American Free Trade Agreement (NAFTA) seek to preserve and strengthen North American energy markets and its benefits for consumers.

Oil edges up towards $49 amid U.S. drilling slowdown

Oil edged up to about $49/bbl on Monday after fewer drilling rigs were added in the United States last week, helping ease concerns that surging shale supplies will undermine OPEC-led production cuts.

Magnitude 4.2 earthquake strikes near Cushing oil storage hub

An earthquake with a preliminary magnitude of 4.2 on Friday struck Stroud, Okla., about 20 mi (32.2 km) from the key oil storage hub in Cushing, Okla., the Oklahoma Geological Survey (OGS) said.

Oil sands seen helping shale counter OPEC efforts to rebalance market

OPEC producers are finding that shale oil drillers aren’t their only adversaries in their battle to drain a three-year crude glut.

Trump administration reduces royalty rates in first U.S. lease sale

The Trump administration on Thursday announced its first offshore oil and gas lease sale, offering 76 million acres (30 million hectares) in the Gulf of Mexico and reduced royalty rates for shallow-water leases to encourage drilling at a time of low oil prices.

BOEM approves Eni Beaufort Sea exploration plan

After a comprehensive review and consideration of comments received from the public, stakeholders, and Federal and state partner agencies and tribes, the Bureau of Ocean Energy Management today conditionally approved a Beaufort Sea exploration plan (EP) it received from Eni U.S. Operating Co. Inc.

Trendsetter Engineering completes live well operations with 15,000-psi subsea hydraulic intervention system

Trendsetter Engineering has successfully completed live well operations with the new 15,000-psi subsea hydraulic intervention system (STIM). The STIM system, which had previously been utilized for subsea hydrate remediation work, has now completed seven subsea projects in the GOM since November 2016, in water depths ranging from 2,500 ft to 7,200 ft.

Canadian oil patch losing Loonie's cushion as Poloz lifts rates

Add costlier debt and thinner profit margins to the list of woes for Canada’s oil patch.

API: Oil and gas drilling sees 62% increase over 2016 levels

API today announced that estimated total wells drilled and completed in the second quarter of 2017 increased 62% compared to the second quarter of 2016.

Abrado operates P&A barrier placement in Gulf of Mexico

Abrado announced today that it has completed the fourth well in a multi-well campaign using the “Investigate, Operate and Validate” system, by performing downhole video pre and post-window inspection as well as multi-string section milling with its proprietary Medusa cutting technology.

Shell purchases Turritella FPSO from SBM Offshore

Shell Offshore, Inc. announces today that its affiliate, Shell E and P Offshore Services B.V., will exercise a contractual right to purchase the Turritella floating, production, storage and offloading (FPSO) vessel from SBM Offshore.

U.S. cuts 2018 crude production forecast amid lower prices

U.S. crude producers are still set to pump record amounts of the commodity next year, but less so than previously projected, according to the latest government estimates.