North America ///

No fast exit from Permian oil for private equity, RS Energy says

Private equity has been ramping up its investment in Permian basin oil and natural gas production, but the old strategy of selling out after a few years is no more, according to RS Energy Group.

Chevron seeks to turn Canada LNG plan into all-electric design

Chevron Corp. is seeking approval to modify its plans for a liquefied natural gas export facility on Canada’s Pacific Coast to an all-electric design that it says will result in the lowest greenhouse-gas emissions per ton of LNG of any large project in the world.

WoodMac, P2 Energy Solutions join forces to deliver data-driven insight to US energy sector

Wood Mackenzie, the global natural resources research consultancy, announced its partnership with P2 Energy Solutions to better analyse current and future well spacing.

Tropical storm races toward Louisiana, curbing oil output

Tropical Storm Barry is barreling toward Louisiana and could hit the coastline as a hurricane by Saturday, causing close to $1 billion in damage and worsening flooding in New Orleans.

Cenovus Energy reaches production milestone in northern Alberta

Cenovus Energy Inc. has announced that on July 10, 2019, the company reached 1 Bbbl of cumulative production from its Foster Creek and Christina Lake oil sands facilities in northern Alberta. Cenovus is the first company to produce 1 Bbbl of oil using steam-assisted gravity drainage (SAGD) technology.

Oil rides to seven-week high on Gulf storm, tightening U.S. supply

Oil rode a tide of bullish news to its highest price in almost two months as a potential hurricane roiled the Gulf of Mexico and U.S. crude inventories dropped.

Tropical Storm Barry could form in Gulf of Mexico, rattling markets

A tropical storm could form in the eastern Gulf of Mexico by Thursday and potentially swirl through offshore oil and gas fields along the coast.

Developer of oil, gas data services takes over operation of frac data sharing system

PDS Energy Information (PDS), a provider of secure data transfer exchange services for oil & gas drilling, completion, and production data, has announced that it has assumed commercial operation of the Frac Interference Exchange (FracX), a reciprocal data sharing network previously developed and operated by one of the largest operators in the Permian basin to coordinate hydraulic fracturing activity among producers.

Wood Mac: Growth in the Permian may spur fresh wave of infrastructure spending

Growing supply of Permian crude means the basin will need extra crude oil takeaway capacity of up to 500,000 bpd by the end of next decade, according to new research from global natural resources consultancy Wood Mackenzie.

McDermott, Cameron LNG announce agreement regarding LNG project in Louisiana

McDermott International, Inc. has announced it and its joint venture member Chiyoda have reached an agreement with Cameron LNG related to the construction of its LNG liquefaction project in Louisiana.

Oil near $57 as smaller U.S. stockpile drop adds to economy woes

Oil declined as a smaller-than-expected draw in U.S. inventories added bearish sentiment to a market already reeling from gloomy economic news.

Shale drilling slips back to one-year low as oil rally falters

American oil explorers cut back on the number of drilling rigs this week, matching a one-year low reached last month, as crude’s rally falters amid growing concerns over demand.

EIA: Fossil fuels continue to dominate U.S. energy consumption

Fossil fuels—petroleum, natural gas, and coal—have accounted for at least 80% of energy consumption in the United States for well over a century. Overall energy consumption in the United States reached a record high in 2018 at 101 quadrillion British thermal units (Btu), of which more than 81 quadrillion Btu were from fossil fuels.

Foothills Exploration acquires additional gas wells, acreage in Montana

Foothills Exploration, Inc., an independent oil and gas exploration company engaged in acquiring and developing oil and natural gas properties in the Rockies, has announced that it plans to acquire natural gas wells and acreage for production and development in Stillwater and Golden Valley counties, Montana.

Incident claims the lives of two people on Shell's Auger platform

Two people were killed and one injured on Royal Dutch Shell’s Auger platform in the Gulf of Mexico on Sunday.

Government report confirms that U.S. output topped 12 MMbpd for first time in April

U.S. crude output soared to new heights in April, highlighting OPEC’s dilemma just days before the producer group meets amid growing geopolitical threats.

GulfSlope Energy launches shallow prospect program in the Gulf of Mexico

GulfSlope has announced the execution of a letter of intent with a privately held oil and gas company to form a joint venture to generate and drill shallow depth prospects in the Gulf of Mexico.

API Ohio: New Sub HB 6 disappointing, Senate should reconsider new energy policy

API Ohio released a statement on the Senate Energy & Public Utility Committee’s new Substitute House Bill 6 (Sub HB 6).

Devon Energy completes sale of Canadian business

Devon Energy Corp. has announced that it has completed the sale of its Canadian business to Canadian Natural Resources Limited for $2.8 billion.

W&T Offshore acquires producing properties in the Gulf of Mexico

W&T Offshore, Inc. has announced that it has entered into a purchase and sale agreement with ExxonMobil Corporation to acquire their interests in and operatorship of oil and gas producing properties in the eastern region of the Gulf of Mexico (GOM), offshore Alabama, and related onshore processing facilities for $200 million.