NorthAmOil - North America Oil & Gas

ConocoPhillips beats expectations with fourth-quarter results

ConocoPhillips has reported earnings of $2.6bn, or $1.98 per share, for the fourth quarter of 2021.

US judge annuls federal Gulf of Mexico lease sale

A US federal judge has annulled the first Gulf of Mexico lease sale held by the administration of US President Joe Biden.

Enbridge partners with indigenous group on Alberta carbon storage hub

Canada’s Enbridge has announced that it is partnering with the First Nation Capital Investment Partnership (FNCIP) – a group formed by four First Nations – to advance the proposed Open Access Wabamun Carbon Hub in Alberta.

Newfoundland and Labrador not ruling out Bay du Nord participation

The government of Newfoundland and Labrador is not ruling out participating in Equinor’s Bay du Nord project in the offshore Flemish Pass Basin.

Earthstone to buy Bighorn Permian for $860mn

Earthstone Energy announced on January 31 that it had agreed to acquire the assets of privately owned Bighorn Permian Resources for around $860mn.

BNEF: global investment in energy transition reached $755bn

Pressure builds on Biden to prioritise climate and energy provisions of Build Back Better

Pressure is building within President Joe Biden’s own party for the White House to prioritise the climate and energy provision of the Build Back Better bill, stalled for more than a month in the US Senate.

OPEC+ makes quick decision but adding production will be harder

ConocoPhillips to sell certain Permian assets to Maverick

US-based ConocoPhillips has agreed to sell certain assets in the Permian Basin to privately owned Maverick Natural Resources for $440mn.

NorthAmOil: ConocoPhillips to sell certain Permian assets to Maverick

US-based ConocoPhillips has agreed to sell certain assets in the Permian Basin to privately owned Maverick Natural Resources for $440mn.

Shell confirms sale of Deer Park refinery stake to Pemex

Shell Oil Co. confirmed last week that it had transferred its stake in the Deer Park refinery in Texas to PMI Norteamerica, a subsidiary of Mexico’s national oil company Pemex.

Russia open to further US security talks but not hopeful

Landmark US climate lawsuit proceeds against fossil fuel companies

A federal appeals court has heard a case in which Baltimore is suing about a dozen major oil and gas companies including BP, ExxonMobil and Shell. The city claims that the companies knowingly contributed to climate change and should pay damages.

Oilfield services giants bullish on fourth-quarter results

The three leading US-based oilfield services firms – Schlumberger, Halliburton and Baker Hughes – have unveiled their results for the fourth quarter of 2021.

Federal report estimates Canadian orphan well clean-up costs

A new federal report from Canada’s Parliamentary Budget Officer (PBO) has estimated that the cost to clean up the country’s orphaned oil and gas wells could reach CAD1.1bn ($865mn) by 2025.

US DoE approves 13.4mn barrel SPR release

The US Department of Energy announced on January 25 that it had approved a release of 13.4mn barrels of crude from the country’s Strategic Petroleum Reserve.

Hess anticipates higher production, spending in 2022

US-based Hess said this week that it expected to raise its capital expenditure budget to $2.6bn in 2022, marking a 37% year-on-year increase.