North America ///

BP’s spill deal is ‘catalyst’ for acquirers as uncertainty ends

BP’s $18.7 billion U.S. legal settlement is being cheered by investors and analysts as it ends five years of financial uncertainty. It also makes the British oil producer a more attractive takeover target.

Oil oversupply meets rising demand in quietest market since 2013

The sleepiest oil market since 2013 will probably limp through the second half of the year as well.

Shale boom shows resilience as rigs rebound with oil under $60

For the first time in almost seven months, America’s shale drillers put rigs in oil fields back to work, and they’re doing it at a lower price.

Drillers boost U.S. oil rigs for first time in 30 weeks

Drillers put rigs in U.S. oil fields back to work for the first time since December, driving down crude futures on speculation that an unprecedented retreat from the country’s prolific shale formations is ending.

Hess completes Bakken midstream sale, establishes joint venture

Hess has completed the sale of a 50% interest in its Bakken midstream assets to Global Infrastructure Partners for a cash consideration of $2.675 billion, the company announced Wednesday.

BP pays record $18.7 billion to settle Macondo claims

BP Plc will pay a record $18.7 billion to resolve claims by the U.S. and five states along the Gulf of Mexico related to the 2010 oil spill.

Summit ESP launches Sentry Well Surveillance service

Summit ESP has launched its Sentry(SM) Well Surveillance services, a real time Electrical Submersible Pump and Optimization Service.

Oil steady after biggest drop since April as U.S. supplies rise

Oil was steady after the biggest decline since April as an unexpected gain in U.S. crude stockpiles signaled a supply glut may persist.

Shale drillers lose most-precious asset—the $90 hedge

The insurance protecting shale drillers against plummeting prices has become so crucial that for one company, SandRidge Energy Inc., payments from the hedges accounted for a stunning 64% of first-quarter revenue.

Shell moves ahead with deepwater Appomattox development in Gulf of Mexico

THE HAGUE -- Royal Dutch Shell has announced the final investment decision (FID) to advance the Appomattox deepwater development in the Gulf of Mexico. This decision authorizes the construction and installation of Shell’s eighth and largest floating platform in the Gulf of Mexico.

Canada’s NEB approves Quicksilver's LNG export license

Canada’s National Energy Board (NEB) has approved the application of Quicksilver Resources Canada Inc. for a 25-year natural gas export license with a maximum term quantity of 733 Bcm. The issuance of this license is subject to the approval of the Governor in Council.

OPEC crude production surges as Iraq pumps at record pace

Iraqi crude production climbed to a record this month, helping send OPEC output to the highest level since August 2012.

Oklahoma woman blaming fracing for quake can sue oil firms

New Dominion LLC can be sued by an Oklahoma woman injured when her fireplace fell on her during an earthquake that she blames on disposal wells tied to fracking.

Applus+ awarded trio of contracts on Ichthys LNG project

Applus+ has been awarded a trio of contracts worth $17.35 million (AUS$22.5 million) for work on the Ichthys LNG Project’s onshore LNG facilities.

Oil holds losses below $60 as nuclear talks set to miss deadline

Oil held losses below $60/bbl as investors weighed the prospects of Iran increasing crude exports in an oversupplied market.

DCP Midstream Partners' Lucerne 2 plant now serving DJ Basin

DCP Midstream Partners' new 200 MMcfd Lucerne 2 natural gas processing plant is now in service, increasing the partnership's processing capacity in the DJ Basin to approximately 400 MMcfd.

Xodus secures new ZADCO vibration contract

Xodus Group has been awarded a contract for the vibration assessment and analysis on the oil train piping and structures for Zakum Development company (ZADCO) at Zirku Island, 140 km north-west of Abu Dhabi.

Logan Industries to supply CCTLF system for Maersk drillship

Logan Industries, based in Hempstead Texas, has recently been awarded with an order for a Compensated Coiled Tubing Lift Frame (CCTLF) for Maersk Drilling. The CCTLF system will be designed and built in-house and is expected to be delivered to Maersk in Q2 2016.

New York bans fracing with release of seven-year study

New York state has officially banned hydraulic fracturing. The state, following through on a decision Democratic Governor Andrew Cuomo made in December, released its formal study of the drilling practice Monday after almost seven years of study.

Fugro, Cross Group awarded multi well contract in Gulf of Mexico

Fugro’s dynamically positioned multi-purpose drilling, well intervention and geotechnical vessel, Fugro Synergy, is proving her capabilities on a multi well intervention campaign which recently started in the Gulf of Mexico.