NorthAmOil - North America Oil & Gas
US rig counts have sunk to historic lows for a second consecutive week, but WTI prices avoided another crash as the June contract expired.
The market may be showing early signs of a recovery, but for many oil and gas companies, the worst is still to come
US crude oil producers are reportedly showing strong interest in storage capacity in South Africa.
Pipeline operator Williams announced last week that it had agree to provide offshore natural gas transportation services to the Anchor project in the US Gulf of Mexico.
Shale producer Continental Resources, which operates in North Dakota’s Bakken play and in Oklahoma’s Anadarko Basin, said in its first-quarter results that it would be curtailing 70% of its operated oil production this month.
Norway’s $1 trillion sovereign fund said on May 13 that it had excluded four Canadian oil and gas companies from its investment portfolio for producing “unacceptable” levels of greenhouse gas emissions.
A US federal judge has upheld his previous ruling this week that cancelled a permit covering dredging work for TC Energy’s Keystone XL pipeline.
Chesapeake Energy has said in a filing with US securities regulators that it is considering options, including filing for Chapter 11 bankruptcy protection.
Leading independent shale producers Pioneer Natural Resources and EOG Resources are among those to announce further cuts to spending after seeing their first-quarter earnings fall.