North America ///

Oil extends rally after U.S. rigs decline as Iran risks persist

Oil’s rally above $65/bbl is being propelled by a sign that American explorers have curtailed drilling activity as well as speculation that the U.S. could reimpose sanctions on OPEC producer Iran.

Commissioner Christian encourages Congress to review Jones Act

Railroad Commissioner Wayne Christian (R-Texas) today encouraged Congress to review the Jones Act of 1920.

BHGE CEO presents letter to shareholders

Baker Hughes, a GE company, released its first annual report today in its current corporate structure. What follows is the “Letter to Shareholders” from BHGE Chairman and CEO Lorenzo Simonelli.

Canadian GDP unexpectedly shrinks as oil and housing output drop

Canada’s gross domestic product unexpectedly shrank in January, as the economy faces a broad slowdown after surging last year. GDP contracted 0.1% during the month, Statistics Canada reported Thursday in Ottawa, weighed down by sharp declines in oil production and real estate. Economists anticipated a 0.1% gain.

BOEM to open call for information, nominations for proposed Beaufort Sea lease sale

The Bureau of Ocean Energy Management (BOEM) has announced it will publish in the Federal Register a call for information and nominations covering a proposed lease sale in Alaska’s Beaufort Sea Planning Area in 2019.

Texas-sized gas conundrum emerges in America's busiest oil field

America’s most prolific oil field is now its worst market for natural gas.

Pioneer sells Eagle Ford acreage for $102 million

Pioneer Natural Resources Company has announced that it has signed a purchase and sale agreement with Sundance Energy, Inc. to sell approximately 10,200 net acres in the western portion of Pioneer’s Eagle Ford shale acreage position for $102 million, subject to normal closing adjustments.

Eni awarded new E&P license in the Cuenca Salina basin, offshore Mexico

Eni and its partner Lukoil have been awarded rights to Block 28, located in the medium-deep waters of the Cuenca Salina basin, offshore Mexico. This allows Eni to build up and consolidate a new core area with significant operational synergies in the Country.

Who's next in the Permian? A short list of targets after Concho deal

Oil-industry watchers have been predicting a wave of buyouts among U.S. shale drillers for years. Has the starting gun finally fired?

Wellsite announces blockchain integration, launch of Crudecoin token sale

Wellsite, a professional network and collaboration platform for the upstream oil and gas industry, today announced a major blockchain initiative for its flagship platform, Wellsite.com, with the launch of a token sale for its cryptocurrency designed for the oilfield services market, Crudecoin.

Concho Resources' acquisition forms largest unconventional shale producer in the Permian

Concho Resources Inc. and RSP Permian, Inc., announced they have entered into a definitive agreement under which Concho will acquire RSP in an all-stock transaction valued at approximately $9.5 billion, inclusive of RSP’s net debt.

Hunting signs collaboration agreement with Titan Oil Recovery, Inc.

Hunting PLC, international energy services company, announced that it has signed a collaboration agreement with U.S.-based enhanced oil recovery company (EOR), Titan Oil Recovery, Inc.

Former Maersk Oil CEO to join Shell's U.S. leadership team

Royal Dutch Shell (Shell) today announced a series of changes to the makeup of its U.S. leadership team.

EIA: U.S. LNG exports quadtrupled in 2017

U.S. exports of liquefied natural gas (LNG) reached 1.94 Bcfd in 2017, up from 0.5 Bcfd in 2016. As LNG exports increased, shipments went to more destinations. U.S. LNG exports in 2017, all of which originated from Louisiana’s Sabine Pass liquefaction terminal, reached 25 countries.

Pemex, Lewis Energy sign contract for assessment and development of Olmos field

Petróleos Mexicanos and Lewis Energy México signed the first Integrated Exploration and Extraction Contract (CSIEE) for Olmos field, which is located in the state of Coahuila. The purpose is to assess and develop the Eagle Ford field in Mexico.

Oil slumps as worries mount that U.S. stockpiles resumed growth

Oil erased earlier gains as investors worry that American crude stockpiles may have resumed their expansion.

Schlumberger introduces new perforating gun system

Schlumberger has introduced the Tempo instrumented docking perforating gun system at the SPE/ICoTA Coiled Tubing and Well Intervention Conference and Exhibition. This combination of a plug-in gun design with real-time advanced downhole measurements enables and monitors the well’s dynamic underbalance to create clean perforations that boost reservoir productivity.

For some wounded American drillers, the oil rout never ended

More than a year after exiting bankruptcy, SandRidge Energy Inc. is stuck in stock-market purgatory.

UTEC provides operator with real-world, virtual access to Canada's largest FPSO

UTEC, a global survey company in subsea services group Acteon, has delivered a bespoke Virtual Asset Management tool to an offshore Operator in Eastern Canada, to allow its team to remotely access its Floating, Production Storage and Offloading (FPSO), from their desktop.

Trump said to name Energy Department official as top aide

The White House plans to name Wells Griffith, an Energy Department official who worked on Donald Trump’s campaign, as one of the president’s top energy and environmental advisers, three people familiar with the decision said Saturday.