North America ///
HOUSTON -- The oil and gas industry’s leading magazine for upstream technology and activity, World Oil, forecasts a sharp drop in drilling, both in the U.S. and internationally, as a direct result of plunging crude oil prices. In its 89th annual forecast and review, World Oil predicts an average WTI oil price of $55.75/barrel (bbl), while Brent will be $58.80/bbl. A Henry Hub natural gas price of $3.35/MMBtu is expected.
U.S. drillers idled oil rigs for an eighth week as crude prices headed for their longest stretch of declines since 2009.
SAN RAMON, California -- Chevron Corp. slashed its drilling budget by the most in 12 years and said it may delay some shale projects as energy producers around the world hoard cash and curtail ambitions in response to free-falling oil prices.
Blackstone Group, the biggest alternative-asset manager, is “scrambling” to invest more than $10 billion in energy companies after the price of oil plunged, the firm’s president said.
WASHINGTON -- The American Petroleum Institute has announced the establishment of a Colorado Petroleum Council that will focus on energy priorities in the state, including hydraulic fracturing and energy infrastructure, as the state seeks to create jobs, generate more revenue to the government, and produce more domestic energy.
U.S. Sen. Lisa Murkowski, R-Alaska, has received confirmation from Christopher Smith, Assistant Secretary for Fossil Energy at the Department of Energy (DOE), that LNG export projects in Alaska are eligible for conditional authorizations.
HOUSTON -- Marine Well Containment Company (MWCC) announced today the completion and delivery of its expanded containment system (ECS), bolstering well containment capabilities and response readiness for operators in the deepwater U.S. Gulf of Mexico. The enhanced system builds on the equipment and technology put into place with MWCC’s Interim Containment System, made available in February 2011.
PARIS -- GE has unveiled its new GE Marine organization, which combines several GE businesses, and will be led by Tim Schweikert, V.P., GE Marine.
ShaleTech Canada 2015 is the premier event for professionals working in the shale oil and gas industry in Canada, which is the world's fifth-largest oil producer.
WPX Energy has completed the disposition of its international interests upon the successful merger of Apco Oil and Gas International with a subsidiary of privately held Pluspetrol Resources Corporation.
STATE COLLEGE, Pennsylvania -- Rex Energy Corporation has announced that Thomas Rajan has been appointed CFO of the company effective Feb. 1, 2015.
ConocoPhillips, the third-largest U.S. energy producer, reported a fourth-quarter loss as new output failed to make up for the worst oil-price crash since 2009.
SAExploration Holdings has announced new project awards for ocean-bottom marine seismic data acquisition services collectively valued at approximately $45 million.
Oil prices will recover as early as the first half of this year as producers cut back, Continental Resources Inc. founder and CEO Harold Hamm said Wednesday.
GE and Statoil have now announced a new collaboration to accelerate the development of more environmentally and economically sustainable energy solutions.
Cenovus Energy is further reducing its 2015 capital spending in order to preserve cash and maintain the strength of its balance sheet.
WASHINGTON, D.C. – The EPA's new proposal to tighten regulations on ozone would be very costly, and would fall on top of current standards that are already improving air quality.
PetroQuip Energy Services has successfully run its Big Foot toe sleeve in a recent horizontal completion for an independent operator in the Anadarko basin.
U.S. Sen. Lisa Murkowski, R-Alaska, has criticized the Obama administration for its continued campaign to shut down oil and natural gas activity in Alaska.
Secretary of the Interior Sally Jewell and Bureau of Ocean Energy Management (BOEM) Director Abigail Ross Hopper have announced the next step in the development of the U.S.'s Outer Continental Shelf (OCS) Oil and Gas Leasing Program for 2017-2022.