North America ///

Shell invests in the Vito development in the Gulf of Mexico

Shell Offshore Inc. (Shell), a subsidiary of Royal Dutch Shell plc, today announces the final investment decision for Vito, a deepwater development in the U.S. Gulf of Mexico with a forward-looking, break-even price estimated to be less than $35/bbl.

EIA: Pennsylvania’s natural gas production continues to increase

Pennsylvania’s marketed natural gas production averaged a record 15 Bcfd in 2017, 3% higher than the 2016 level. This production is largely from shale plays in the Appalachian basin. Pennsylvania accounted for 19% of total U.S. marketed natural gas production in 2017 and produced more natural gas than any other state except Texas.

BNK Petroleum reports its best 30-day IP rate of 630 boed in Oklahoma's SCOOP

BNK Petroleum Inc. has announced that the Glenn 16-2H well (100% working interest) averaged over 630 boed, of which 540 bbl are oil, for the last 30 days. The production from the well, which is located in BNK’s Tishomingo field, in the SCOOP region of Oklahoma, is currently producing over 620 boed, of which 515 bbl are oil (85%).

Trump trade war spurs India to import more oil, drones from U.S.

India is seeking more oil, drones and aircraft from the U.S. to help narrow its $28-billion trade surplus amid rising concerns of possible collateral damage to its economy from President Donald Trump’s trade spat with China.

Cheniere upsizes financing for Corpus Christi LNG to $6.4 billion

Cheniere Energy, Inc., has announced that its wholly owned subsidiary Cheniere Corpus Christi Holdings, LLC, has engaged financial institutions to act as Joint Lead Arrangers to assist in the structuring and arranging of up to $6.4 billion of credit facilities.

Schlumberger quarterly profits surge on activity gains, higher oil prices

Schlumberger reported an 88% increase in quarterly profit as rising crude oil prices encouraged North American operators to ramp up drilling.

Becoming a "Permian-bitcoin billionaire" may be just a dream

Could turning flared gas in Texas’s Permian basin into electricity to power bitcoin mining be a solution for shale producers?

California Resources acquires Chevron's remaining interests in Elk Hills field

California Resources Corporation has announced that it has executed and closed a purchase and sale agreement with Chevron to acquire the remaining working, surface and mineral interests in the 47,000-acre Elk Hills field in the San Joaquin basin of California.

TGS expands its onshore seismic activity with third project in the Anadarko basin

TGS further expands its 2018 onshore seismic activity with the announcement of the Gloss Mountain 3D seismic survey. Gloss Mountain is a significant addition to our industry leading geoscience data position in the SCOOP/STACK area of the Anadarko basin.

Fieldwood Energy closes acquisition of Noble Energy’s deepwater assets

Fieldwood Energy LLC has announced the closing of its acquisition of all of Noble Energy, Inc.’s deepwater oil and gas assets located in the Gulf of Mexico with an effective date of Jan. 1, 2018.

Rystad Energy: China’s promise to cut tariffs, open economy allows U.S. producers to breathe easier

During his speech Tuesday at the Boao Forum, Chinese President Xi Jinping gave reassuring words to help calm tariff tensions with the U.S. Xi’s commitment to cut tariffs and open the economy could be a first step in drawing more interest from foreign investment.

Shaletech: Permian Basin

Jim Redden, Contributing Editor

Soaring drilling, production block out irritants

Technical advances solve a variety of offshore problems

As was the case last year, nearly all of this group of new technologies and next-generation improvements on existing products remains split between drilling and production applications.

OTC Spotlight on New Technology Awards: Offshore industry innovates despite muted activity

Offshore investments may still be slow to accelerate, but that hasn’t stopped companies from ramping up R&D efforts to create a safer, more efficient and more productive offshore industry.

Oil surges to three-year high as Middle East tensions intensify

Crude in London and New York are at the highest levels since 2014 after U.S. President Donald Trump warned Russia to “get ready” for U.S. missiles to be fired at Syria and Saudi Arabia intercepted a missile over Riyadh.

Statoil, Total complete acquisition of interest in GOM's North Platte discovery

Statoil and Total have completed their acquisition of Cobalt International Energy’s 60% operated interest in the North Platte discovery in the U.S. Gulf of Mexico (GOM) for an aggregate purchase price of $339 million.

What will it take to keep up with shale gas boom? $170 billion

Bottlenecks on the U.S. natural gas super highway are starting to stack up, raising concerns about whether infrastructure can be built fast enough to meet surging supplies.

U.S. oil debt eases as drillers target next shale play

U.S. oil and gas producers expect their borrowing ability to increase over the next few months, leaving them open to invest in new shale assets, particularly the Eagle Ford in Texas.

China gas giant "confident" U.S. energy ties set to deepen

The head of China’s largest natural gas importer believes the country’s energy ties with the U.S. are set to deepen, despite trade conflict between the world’s two largest economies that has roiled financial markets.

Oil rises after Xi's speech on optimism U.S.-China spat may ease

Oil advanced above $64/bbl after Chinese President Xi Jinping’s conciliatory tone in a closely watched speech raised hopes that U.S.-China trade tensions may ease, lifting risk assets around the world.