North America ///

Schlumberger cutting 21,000 jobs on weak Q2 sales, dismal outlook

The second-quarter rout was so bad for Schlumberger that it’s spending $1 billion on job severance in a move that will shrink staffing to an 11-year low. Various restructuring and impairment charges cost it another $2.7 billion, the company said Friday in a statement.

Daily Brief podcast: The impact of oil prices and politics on oilfield service companies

Kurt and Cameron talk about how oil prices, state and federal politics are impacting oilfield service companies, and how positions taken today will affect a market recovery.

Wood to deliver engineering design for Chevron's Anchor development

Wood is delivering a multi-million-dollar engineering design project for Chevron’s Anchor deepwater development in the Gulf of Mexico.

U.S. to sell 12 MMbbl of oil just as virus hits demand

The U.S. will sell up to 12 MMbbl of oil from its emergency government stockpile just as global crude demand takes a hit from the spreading coronavirus.

Natural gas hits four-year low on ‘epic’ U.S. demand failure

Natural gas futures sank to a four-year low as the latest U.S. forecasts all but eliminated bulls’ hopes for a late-winter cold push.

Energy Capital pauses pipeline deals on widening shale despair

Energy Capital Partners LLC is pausing new pipeline deals, according to people familiar with the matter, as the accelerating downturn in shale prompts investors to seek returns elsewhere.

Stress Engineering Services, Optimum Program form RiGUARD JV

Stress Engineering Services, Inc., (SES) the global leader in consulting engineering services and solutions,has entered into an agreement with Optimum Program Ltd, an internationally recognized provider of inspection services, digital data, knowledge and process solutions, to form the RiGUARD joint venture.

Emerald Bay Energy spuds well in Duval County

Emerald Bay Energy Inc. reported today that the Company has spudded the fifth well, #4HC, on the Duval County Ranch Company (DCRC) "E" lease.

Virus has U.S. exporters facing risk of production cuts

A grim situation for U.S. natural gas exporters has gotten even worse as the coronavirus outbreak sends global prices plunging on concern that China’s demand for the fuel will collapse.

Coronavirus impedes Alberta’s drive to reach oil markets in Asia

The coronavirus is hampering the Canadian oil industry’s efforts to build relations with crude buyers in Asia.

A tale of two oil giants, with two strategies that aren’t working

Everyone from environmentalists to investors is beating up on fossil fuels, and American energy giants Exxon Mobil and Chevron are taking increasingly diverging approaches as they try to weather the storm. The problem is, neither strategy is working right now.

U.S. Chamber of Commerce says proposed fracing ban puts Texas economy at risk

The study comes as presidential candidates and activist groups have called for a ban on hydraulic fracturing. Several major candidates have promised to pursue such a ban if elected, and the results would deliver a staggering blow to the economy.

API welcomes North American trade deal, urges Congress to approve new agreement

API joined more than 200 companies and associations covering a wide range of industries in the USMCA Coalition, which has been working to secure the agreement’s approval in Congress.

Billionaires poised to buy U.S. oil and gas assets at distressed prices

Dallas Cowboys owner Jerry Jones is among the billionaires circling the distressed U.S. oil and gas patch, looking to pick up assets on the cheap at a time when the state of the industry is scaring off other investors.

Trump’s EPA to propose retreat on methane rules for oil wells

The U.S. Environmental Protection Agency is set to unveil a proposal that would step back from federal regulation specifically targeting methane emissions at oil and gas facilities, potentially staving off requirements for a million existing U.S. wells.

Big oil’s big bet on natural gas creates a big headache

The world’s biggest oil companies have been steadily shifting investments toward natural gas, driven by an emerging globally traded market and environmental concerns. But they’re taking a hit as prices tank.

EIA: U.S. crude oil production continues to set records

U.S. crude oil production in each of the first five months of 2019 showed increases over their 2018 levels, with April 2019 establishing a new monthly record. Production grew the most in the Permian region and the U.S. Gulf of Mexico.

Permian needs $9-billion worth of new wells – but not for crude, says analyst

As much as $9-billion will be needed over the next decade to dispose of produced water in the world’s busiest shale field, according to Raymond James & Associates Inc.

Shale drilling’s worst yet to come, biggest rig owner says

Shares of America’s biggest owner of drilling rigs fell the most in seven months after the chief of Helmerich & Payne said he called the bottom too soon.

New shale technology detects completion problems, parent/child well interference

Deep Imaging today announced the first and only real-time solution for tracking fluid as it’s pumped through the wellbore and out to the fracture tips during a completion job.