North America ///

Oil stocks rallying in 2021, despite Biden’s fossil fuel threats

Companies including Exxon Mobil, Diamondback Energy and Marathon Oil have posted double-digit gains this year as a rebound in oil prices and the prospect of an economic recovery have outweighed risks to the industry from the Biden administration.

Biden pauses onshore and offshore drilling leases, orders subsidy reviews

President Joe Biden took executive action on Wednesday to block new leases for oil drilling on federal lands and waters for one year and ordered a review of fossil-fuel subsidies and other measures to overhaul how the U.S. produces energy.

Baker Hughes expands non-metallic materials with new composite flexible pipe for onshore pipelines

The flexible, lightweight reinforced thermoplastic pipe (RTP) offers an economic and environmentally superior alternative to resource-intensive onshore steel pipes, for optimizing the core structure of flowline and oil and gas pipeline networks.

In the Biden/Harris Presidency, any fracing ban is least of the industry’s worries

David Blackmon, Contributing Editor

While the various and constantly evolving Biden/Harris promises to ban hydraulic fracturing—at one level or another—dominated the narrative during the general election campaign, the approach they will choose to take on a range of oil and gas issues, now that they are in a position of power, will come into sharp relief.

There's something rotten in the state of Denmark's grand energy plans

It's a tale of two cities with the EU's largest oil producer swearing off production by 2050, as OPEC+ stalwarts Saudi Arabia and the UAE grapple over who will lead the group's drive to meet the world's future oil demand.

Asian markets are OPEC+ and U.S. shale’s latest battleground for market control

In the wake of fresh warnings about declining oil demand, a struggle is brewing between key exporters like the U.S. and the OPEC+ alliance to gain market share in the world's last growth region before it’s too late.

U.S. crude may be included in Brent global benchmark pricing

The move reflects the growing importance of U.S. crude internationally -- the country five years ago ended restrictions on oil exports imposed during the energy crises of the 1970s -- and the fact that supplies of some of the North Sea’s key grades are dwindling.

Conoco may dismiss up to 25% of Houston HQ staff as Concho buy closes

“The process to determine the exact number of impacted employees is ongoing,” the company said in an email on December 1. “However, we anticipate the number of reductions in Houston could meet the threshold of 500 or more.”

Oxy CEO says U.S. oil production will never see pre-pandemic levels

America’s oil production will never again reach the record 13 million barrels a day set earlier this year, just before the pandemic devastated global demand, according to Occidental Petroleum Corp.

Schlumberger sells its frac operations to Liberty Oilfield Services for 37% equity stake

Liberty Oilfield Services Inc. and Schlumberger announced an agreement for the contribution of Schlumberger’s onshore hydraulic fracturing business in the United States and Canada, including its pressure pumping, pumpdown perforating, and Permian frac sand businesses to Liberty, in exchange for a 37% equity interest in the combined company.

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.