NorthAmOil - North America Oil & Gas

Tourmaline makes two acquisitions

Canada’s Tourmaline Oil has agreed to acquire Jupiter Resources in an all-stock deal valued at around CAD626mn ($480mn) and has already acquired Modern Resources in a cash and stock deal worth CAD144mn ($110mn).

Chevron, ExxonMobil report third-quarter losses

US-based super-majors Chevron and ExxonMobil have reported their results for the third quarter of 2020, with both announcing losses as they continue to be affected by the industry downturn and ongoing coronavirus (COVID-19) pandemic.

Diamondback not seeking to add scale through acquisition

Diamondback Energy’s CEO, Travis Stice, said during his company’s third-quarter earnings call that the firm saw no need to purchase a competitor in order to boost its performance.

MPLX starts up main segment of Wink-to-Webster pipeline

MPLX said this week that it had brought the main segment of its Wink-to-Webster oil pipeline in Texas into service.

Engie backs out of proposed US LNG deal

French utility Engie has abandoned talks with US-based NextDecade over a proposed LNG supply deal involving gas from the planned Rio Grande LNG terminal in South Texas.

i3 shares rise after UK junior "envisages" maiden dividend

NRG: Balancing optimism with caution

US extends handful of LNG export authorisations

Last week, the government of US President Donald Trump extended the terms of several long-term LNG export authorisations until 2050. This was followed by the extension of three further export authorisations until 2050 this week.

Hess reports wider-than-expected third-quarter loss

US independent Hess has reported a net loss of $243mn, or $0.80 per common share, for the third quarter of 2020 compared with a net loss of $212mn, or $0.70 per share, in the same quarter of 2019.

AMLO dismisses US legislators’ critique of Mexican energy policy

Mexican President Andres Manuel Lopez Obrador has dismissed claims that his government’s energy policy puts US-based companies at an unfair disadvantage.

US approves ConocoPhillips’ Willow project in NPR-A

The government of US President Donald Trump has approved ConocoPhillips’ Willow project in the National Petroleum Reserve-Alaska (NPR-A).

LLOG makes Gulf discovery ahead of more storm-related disruptions

Privately owned LLOG Exploration has reported a second discovery at its Spruance find in the US Gulf of Mexico, which has allowed it to further delineate the prospect and finalise a development plan for the field.

Alberta to end mandatory oil production curtailments early

The provincial government of Alberta has announced that it will end mandatory production curbs on oil at the start of December, a month earlier than previously scheduled.

Consolidation continues with Canadian mega-merger

Canada’s Cenovus Energy and Husky Energy have agreed to combine in the latest major North American oil and gas deal.