North America ///

`This too shall end': Loews CEO Tisch eyes $75 oil in two years

While oil prices remain stubbornly low despite a pledge by OPEC to curb global output, the head of one U.S. conglomerate is eyeing a rebound that’ll bring crude back to $75/bbl.

Hess has announced its 2019 E&P capital and exploratory budget

Hess Corporation has announced a 2019 E&P capital and exploratory budget of $2.9 billion. Of this, approximately 75% will be allocated to high return growth assets in the Bakken and Guyana.

Saturn Oil & Gas Inc. has been named top purchaser in recent Crown land sale

Saturn Oil & Gas Inc. is pleased to announce that the company was the top purchaser of acreage in the Kindersley-Kerrobert area at the recent Crown land sale on December 4th, 2018.

World Oil launches 2018 year-end drilling survey while entering 93rd year of forecasting history

Attention operators! World Oil has launched its 2018 year-end drilling survey, and we need your input to make the upcoming World Oil first-of-year Forecast a success.

Drillers lay down U.S. rigs as oil volatility crushes plans

Oil explorers dialed back on drilling at the fastest pace in 2 1/2 years in U.S. fields as volatile crude prices crippled efforts to plan for growth.

Saudi Arabia juggles Iran and U.S. shale to deliver OPEC deal

Saudi Arabia’s energy minister emerged from days of heated OPEC talks joking that he wasn’t an easy man to be friends with.

Primed-to-pump shale will take OPEC cut but no longer needs it

U.S. shale’s response to OPEC’s decision to cut supply and boost prices: We’ll take it, but we don’t need it.

Premier Oil has completed the Babbage Area sale

Premier has completed the sale of its interests in the Babbage Area to Verus Petroleum SNS Ltd.

OPEC talks end without oil-cuts deal as Russia holds back

OPEC ended talks without a deal on oil production cuts for the first time in nearly five years as Russia flexed its muscles by so far refusing to commit to the big output curb that Saudi Arabia is demanding.

Meet the new Permian, it's double the size of the old one

The U.S.’s fastest growing oil field may have even more to give.

Chevron boosts spending to $20 Billion, first increase since 2014

Chevron Corp. will hike spending by 9.3% next year to $20 billion, its first budget increase since 2014 as it expands investments in the Permian Basin and its Tengiz project in Kazakhstan.

U.S. becomes net oil exporter for first time in 75 years

America turned into a net oil exporter last week, breaking 75 years of continued dependence on foreign oil and marking a pivotal -- even if likely brief -- moment toward what U.S. President Donald Trump has branded as "energy independence."

Oil-sands crisis hits home as Canadian Natural cuts spending

The pipeline shortage that has been strangling the Canadian oil industry is weighing on spending plans for next year, with one major producer slashing its capital budget for 2019 by $750 million (C$1 billion).

OPEC+ recommends oil cuts, but no deal yet on size of curbs

Saudi Arabia, Russia and other members of the OPEC+ group recommended an oil production cut, defying a Twitter plea from President Donald Trump to keep the taps open, but their meeting didn’t agree on how big any reduction should be.

Surging oil drilling in Texas could cause Summer power shortages

Texas oil and gas drillers are soaking up more electricity than generators are planning to add by the time power demand peaks next summer.

Fracing slump deepens as Schlumberger walks oil `tightrope'

The North American fracing market -- already expected to be a downer for the holidays -- is turning out to be even worse than expected, according to the world’s biggest oil-service provider.

OPEC oil decision could undercut U.S. natural gas price surge

A decision by OPEC and its allies to cut oil output in order to bolster prices could, in an odd market twist, undermine a recent price surge for natural gas heading into winter.

Talos Energy has commenced its Zama appraisal program

Talos Energy Inc. has announced that the Zama-2 appraisal well was spud in late November 2018. The spudding of the Zama-2 well marks the commencement of the Zama discovery appraisal program, which will consist of three reservoir penetrations, including two wells and one sidetrack.

Opinion: Qatar leaving is an ominous sign for OPEC

The immediate question raised by Qatar leaving OPEC is, of course, what to call this? Qatarexit, or even Qatexit, sound wrong. Qatar-ta-for-now has a nice ring to it, even if it’s a tad unwieldy. Maybe just go with Qatout.

OPEC's push to cut even deeper shows price warriors were right

Four years ago, the OPEC secretary-general was defending the group’s decision to refuse production cuts and unleash a price war aimed at driving high-cost rivals including U.S. shale out of business.