North America ///

Pemex evacuates 85 offshore workers after gas leak

Pemex has evacuated 85 workers from a platform in the Bay of Campeche, offshore Mexico, following a gas leak.

U.S. emerging as most attractive LNG supplier to Asian markets

Recent reports by the International Energy Agency note that Canada will fail to have any LNG export projects up and running before 2020, paving the way for U.S. suppliers to dominate.

Strategic Petroleum Reserve is critical to national security: Murkowski

U.S. Sen. Lisa Murkowski (R – Alaska) underscored the importance of maintaining the nation’s Strategic Petroleum Reserve (SPR) at a hearing of the Senate Energy and Natural Resources Committee on Tuesday.

Oil set for longest rally since April as U.S. stockpiles decline

Oil headed for its longest rally in almost six months as U.S. industry data showed crude stockpiles fell in the world’s biggest consumer.

California’s Monterey shale holds 21 MMbbl of recoverable oil: USGS

The Monterey formation in the deepest parts of California’s San Joaquin basin contains estimated mean volumes of 21 MMbbl of oil, 27 Bcf of gas and 1 MMbbl of NGL, according to the first USGS assessment of unconventional, technically recoverable resources in the Monterey formation.

Willbros Group to sell professional services segment

Willbros Group has executed a purchase agreement for the sale of its professional services segment to TRC Companies for $130 million.

Freeport-McMoRan may spin off oil and gas business

Freeport-McMoRan is undertaking a review of strategic alternatives for its oil and gas business, the Phoenix-based company said Tuesday.

Fugro awarded contract extension by Pemex

Fugro, in conjunction with long-time associates, Diavaz, has been awarded an extension of the ongoing offshore geophysical and geotechnical campaign by Pemex.

Oceaneering Executive, Marvin J. Migura to step down to senior V.P. at the end of 2015

Oceaneering International has announced that Marvin J. Migura has decided to relinquish his position as executive V.P. effective Dec. 31.

N.L. licensing area could hold 12 Bbbl of oil in place, Premier says

ST. JOHN'S, Newfoundland and Labrador -- The area covering the 11 parcels currently on offer in the Flemish Pass has an in-place oil and gas resource potential of 12 Bbbl of oil and 113 Tcf of gas, according to the Premier of Newfoundland and Labrador.

BP’s record oil spill settlement rises to more than $20 billion

The value of BP Plc’s settlement with the U.S. government and five Gulf states over the Deepwater Horizon oil spill will rise to $20.8 billion, an increase of $2 billion from an agreement reached in July, said the U.S. Department of Justice.

Suncor in $3.3-billion bid for Canadian Oil Sands

Suncor Energy has made an unsolicited offer to Canadian Oil Sands (COS) shareholders to acquire all of the outstanding shares of COS for a total consideration of approximately C$4.3 billion ($3.3 billion), Calgary-based Suncor said Monday.

Oil patch braces for exploration chill after Canada’s election

As Canada’s oil patch grapples with a price shock, pipeline delays and rising tax rates, the federal election could add another barrier to recovery by reining in a key incentive for development of new wells.

Oil extends gains above $45 as rig fall signals U.S. output cuts

Oil extended gains above $45/bbl after data showed a reduction in the number of rigs drilling for crude in the U.S., signaling output cuts in the world’s biggest consumer.

Exxon, Chevron outlooks cut to negative by S&P in oil slump

Exxon Mobil and Chevron were among several U.S. oil and natural gas producers that had their outlooks or ratings cut by Standard & Poor’s as the industry suffers from weak crude prices, hurting their cash flow and liquidity.

U.S. independent producers: Federal ozone standard is all costs, no benefits

Independent Petroleum Association of America (IPAA) Executive V.P. Lee Fuller released a statement in response to the U.S. Environmental Protection Agency (EPA) tightening federal standards for ground-level ozone levels.

Oil rebounds after U.S. producers reduce rigs to 5-year low

Crude rose after U.S. explorers reduced the number of rigs drilling for oil to a five-year low, signaling further drops in production.

Hurricane Joaquin may threaten East Coast energy infrastructure

Hurricane Joaquin, which strengthened to a Category 4 storm on Thursday, is on track to move north along the East Coast this weekend, potentially bringing torrential rainfall and flooding to the region.

EV Energy Partners closes acquisitions in Appalachian basin, San Juan basin, Michigan and Austin Chalk

EV Energy Partners (EVEP) has closed four acquisitions purchased from certain institutional partnerships managed by EnerVest, Ltd.

Technip wins subsea contract for Shell's Stones development

Technip has been awarded a contract by Shell Offshore for the development of subsea infrastructure for the Stones project. Included in the service are two subsea production tie-backs to the FPSO vessel.