North America ///

Mexico seeks new home for its oil amid weak Gulf Coast demand

Shipments of crude to the U.S. from Mexico fell to a new low last week, extending a trend that goes back to when the Energy Information Administration began compiling preliminary weekly import data in June 2010.

White House's Cohn wants to see `more and more' U.S. LNG terminals

If Gary Cohn gets his way, the U.S. could be the biggest exporter of liquefied natural gas in the world.

Pence hails $10 billion in Indonesia deals, from Exxon to GE

Vice President Mike Pence announced 11 major deals valued at more than $10 billion between U.S. and Indonesian companies, mostly in energy and defense.

Oil set for biggest weekly loss since early March on U.S. supply

Oil headed for its biggest weekly loss since early March as signals from OPEC that it will persevere with output cuts failed to offset evidence that U.S. supplies are plentiful.

Patterson-UTI Energy completes merger with Seventy Seven Energy

Patterson-UTI Energy announced today that it has closed its merger with Seventy Seven Energy Inc. stockholders of Seventy Seven Energy are entitled to receive 1.7851 shares of newly issued Patterson-UTI common stock in exchange for each share of Seventy Seven Energy.

BP Gulf oil spill damage valued at $17.2 billion in new study

BP Plc’s 2010 Gulf of Mexico oil spill caused damage to beaches, animals, fish, and coral that the public values at $17.2 billion, according to a financial accounting released on the seventh anniversary of the disaster.

Exxon gets backing of GOP-led states in fight over climate probe

Texas Attorney General Ken Paxton and 10 of his Republican counterparts are joining forces in court to help derail a probe into whether Exxon Mobil Corp. misled investors about climate change.

Gulf of Mexico is equally important as Permian for U.S. oil production, Rystad says

Since the early days of U.S. shale development, we have observed impressive efficiency and well productivity gains realized by E&P companies. These gains were triggered by a gradual learning process, optimization of completion techniques and well configuration, and high grading of drilling locations and equipment.

Encana reports plans to maximize value of condensate-rich Montney asset

Encana continues to successfully advance its five-year plan, which it expects will deliver industry-leading cash flow growth and returns. The company's Montney asset plays an integral part in this plan and will contribute significant high-value condensate, non-GAAP cash flow and margin growth

Oil trades near two-week low as OPEC plans vie with supply gain

Oil traded near its lowest in two weeks as comments from some OPEC producers that the group will extend output cuts were undermined by signs of rising supply.

EPA chief takes first step in reversing Obama-era methane rule

U.S. environmental chief Scott Pruitt announced plans to roll back an Obama-era methane rule expected to cost oil and natural gas operators $320-$530 million a year.

Energy Transfer's latest woe is 50,000-bbl spill

Add almost 50,000 bbl of drilling fluids released into Ohio wetlands to the issues that have plagued Energy Transfer Partners LP’s $4.2 billion Rover natural gas pipeline.

Oil falls to two-week low as gasoline supply rises, dollar gains

Oil dropped to a two-week low after a report showed U.S. gasoline supplies gained for the first time in nine weeks as crude output rose.

Abu Dhabi's Taqa seeking to sell energy assets in North America

Abu Dhabi National Energy is generating cash from overseas oil and natural gas operations and wants to sell some higher-cost wells in North America after reporting a record $5.2 billion loss last year.

Energy Transfer's latest pipeline woe is a 50,000-bbl spill

Add almost 50,000 bbl of drilling fluids released into Ohio wetlands to the issues that have plagued Energy Transfer Partners LP’s $4.2 billion Rover natural gas pipeline.

Oil falls to one-week low on signs of rebound in U.S. production

Oil dropped to the lowest in more than a week on signs U.S. output is rebounding, undermining OPEC’s efforts to clear a global glut.

Operators finally embrace digital technologies to improve production efficiency

The counterbalanced pumping unit is still working hard lifting oil out of the ground. However, algorithms now adjust flow based on computer monitoring.

Patterson-UTI's Siegel takes advice from Roy Disney, to prove share sellers wrong

You wouldn’t think an oilman would draw inspiration from Roy Disney, whose uncle turned a cartoon mouse into a U.S. icon, when things get tough. But that’s exactly what Mark Siegel, the chairman of Patterson-UTI Energy Inc., said he did on Dec. 13, when his company’s value plunged the day after it announced a $1.4 billion deal for rival Seventy Seven Energy Inc.

AADE ’17: Constructing better wells can increase integrity during fracturing, reduce production problems

As the North American shale revolution has evolved, spawning new technologies and strategies for drilling and completing horizontal wells with longer laterals and increased frac staging, the upstream oil and gas industry is still learning how to construct wells for maximum, long-term production.

BP kills Alaska well after capping oil, natural gas leaks

A BP well on Alaska’s North Slope is no longer leaking crude oil or natural gas, a spokeswoman said Monday. Environmentalists, describing the well as "out of control,” called on the state to investigate.