North America ///

Exxon cuts 2015 spending 12% to $34 billion

Exxon Mobil Corp. anticipates capital spending of about $34 billion in 2015—12% less than in 2014—as it continues to bring major projects online, the company reported Wednesday.

Oil holds above $50 as Saudis signal demand before supplies data

Oil held above $50/bbl as investors weighed Saudi Arabia’s signal that demand is improving against data forecast to show U.S. inventories expanded from a record.

Chevron, Linn ordered to shut California wells on water concerns

California regulators ordered oil drillers including Chevron and Linn Energy to halt operations at 12 injection wells in the state because of concerns they may taint groundwater.

Oil production in federal GoM to continue increasing, EIA says

Because of the long timelines associated with Gulf of Mexico (GoM) projects, the recent downturn in oil prices is expected to have minimal direct impact on GoM crude oil production through 2016, according to the U.S. Energy Information Administration's Today in Energy report..

Halliburton opens new Integrated Completions Center in Louisiana

Halliburton officially opened its new Integrated Completions Center (ICC) in New Iberia on February 26, 2015.

Halliburton introduces Quasar Pulse M/LWD service

Sperry Drilling, a Halliburton business line, announced the release of Quasar Pulse Service, the only M/LWD service capable of operating in harsh environments up to 392°F and 25,000 psi.

Magnetrol expands company sites on three continents

Magnetrol International, Inc., has recently expanded and opened several key locations: Aurora, Ill., Zele, Belgium, and Dubai, UAE.

Oil exports could sustain benefits of U.S. energy renaissance, ConocoPhillips CEO says

ConocoPhillips Chairman and CEO Ryan Lance delivered an energy policy speech at the U.S. Chamber of Commerce Tuesday that appealed to the congressional and executive branches of federal government to lift the outdated and economically constraining national ban on crude oil exports.

Glencore sees ‘blowout’ year for oil traders as volatility surges

Glencore Plc, the world’s biggest listed commodities trader, said 2015 could be a boom year for oil amid the biggest price swings in six years.

PetroShare acquires acreage in Wattenberg field

CENTENNIAL, Colorado -- PetroShare Corp. announced Monday that under its strategic land and leasing services agreement with Kingdom Resources, LLC, it has accepted an assignment of approximately 309 net acres covering all depths in parts of Township 1 South, Range 67 West, Adams County, Colorado.

U.S. Gulf to receive flood of oil from Midwest as glut spreads

The flood of oil inundating the U.S. Midwest is about to cascade down to the Gulf Coast.

Obama says Keystone decision may be announced in weeks or months

President Barack Obama said a decision on whether to approve the Keystone XL pipeline is possible in weeks or months.

U.S. to offer all available acreage in Western GoM in August lease sale

BOEM Director Abigail Ross Hopper has announced that the bureau will offer more than 21 million acres offshore Texas for exploration and development in a lease sale that will include all available unleased areas in the Western Gulf of Mexico Planning Area.

WPX Energy cuts workforce, trims Denver office

WPX Energy is trimming its company-wide workforce by approximately 8% and consolidating most of its regional office staff in Denver, Colorado, together with personnel at the company’s headquarters in Tulsa, Oklahoma.

McDermott bags EPCI project offshore Qatar

McDermott International has been awarded a large project for a new jacket, temporary deck and replacement umbilical by Qatar Petroleum for the North Field Alpha gas development, offshore Qatar.

Parsons acquires T.J. Cross Engineers

Engineering firm Parsons has acquired T.J. Cross Engineers, Inc., a privately held oil and gas industry professional services firm specializing in engineering, design, and consulting services.

BP joins Occidental in Mexican hesitation after crude plunge

Mexico’s hopes of replicating the U.S. offshore oil boom rest on authorities sweetening contract terms after prices collapsed, according to prospective drillers, as preliminary terms being offered by Mexico “need to be a little more competitive,” according to the CEO of BP.

Brent oil retreats from 2015 high; premium over WTI narrows

Crude fell from its highest close this year in London on concern a global surplus will linger. U.S. oil futures narrowed their discount to Brent after an industry survey was said to report a slowdown in stockpile gains.

Oil drops as gain in Saudi Arabian output boosts OPEC production

Oil fell after the first monthly gain since June as Saudi Arabia stepped up production, lifting OPEC’s output beyond its collective quota for a ninth month.

RWE plans to close sale of Dea unit to LetterOne

RWE, Germany’s second-largest utility, said it will proceed with the sale of its oil and gas unit to a Russian billionaire on Mar. 02 and may buy back the U.K. business should the new owner face sanctions.