NorthAmOil - North America Oil & Gas

Permian consolidation continues as Diamondback to buy Endeavor in $26bn merger

Diamondback Energy is to acquire shale rival Endeavor Energy Resources, the largest remaining independent Permian producer, in a $26bn cash-and stock-deal. The combined company will become the third largest operator in the Permian.

ConocoPhillips to expand in Permian, Lower 48

ConocoPhillips will expand oil production in the Permian and Lower 48, even as it decelerates the growth rate.

US regulators approve extension for Driftwood LNG

US regulators have approved a three-year extension for Tellurian’s long-delayed Driftwood LNG in Louisiana.

Enbridge: Canada’s Mainline pipeline may remain congested despite Trans Mountain Expansion

Even if the Trans Mountain Expansion starts operating in the second quarter, Enbridge’s Mainline pipeline may still ration shipping volumes.

API sues over Biden’s five-year offshore oil and gas leasing plan

The American Petroleum Institute has sued over the most recent offshore leading plan of the administration of President Joe Biden.

US House of Representatives passes bill to reverse Biden's LNG pause

The US House of Representatives will hold a vote on February 16 on a bill that would remove LNG export reviews from the remit of the Department of Energy, Republican lawmakers announced.

NorthAmOil: Carbon capture “fails” says Australian mining titan, Woodmac report casts doubt on giant Canada project

Carbon capture “fails” says Australian mining titan, Woodmac report casts doubt on giant Canada project

Carbon capture is a technology that “fails”, says billionaire Andrew Forrest, executive chairman of Fortescue Metals of Australia. The titan of the metals mining and green energy company was recently addressing the IEA's 50th anniversary meeting.

Chesapeake, Delfin and Gunvor sign long-term LNG deal

Chesapeake Energy, Delfin LNG and Gunvor Group announced on February 13 that the companies have entered into a long-term LNG export contract, which involves a sales and purchase agreement.

US court auction for Citgo encounters bid challenges

In a significant turn of events, the US court auction determining the destiny of Houston-based and Venezuelan state-owned oil refiner Citgo Petroleum has witnessed bids leveraging claims instead of cash.

Energy Transfer opens talks with Woodside on potential stake in Lake Charles project

US firm Energy Transfer has begun discussions with Australia’s Woodside Energy Group on the potential sale of a stake in the company’s Lake Charles LNG facility in Louisiana.

Oil and gas companies to invest over $1 trillion in the next decade expanding production

A report from climate campaign group Global Witness reveals that the fossil fuel sector is anticipated to allocate more than $1 trillion worldwide over the next decade for the expansion of natural gas production.

Shale production buoys supermajors, Chevron sees Permian production booming

Booming US oil production has buoyed supermajors ExxonMobil and Chevron to their second-largest profits in a decade.

Appeals court mulls Biden’s approval of Willow

An appeals court panel in San Francisco is reviewing whether to uphold the Biden administration’s approval of the ConocoPhillips Willow oil project in Alaska.

Shareholder activists withdraw climate resolution, but ExxonMobil fights on

Exxon Mobil is taking a hard line against ESG shareholder activists, even though they withdrew a climate resolution. In a continuation of the fight against ESG interventions, ExxonMobil sued in late January.

Devon Energy is trying to acquire Enerplus, says report

Devon Energy has made a bid to acquire Enerplus, which has a market value of $3bn, Reuters said, citing anonymous sources.

US tightens air quality standards for soot, and oil and gas industry objects

The US Environmental Protection Agency has cut the amount of soot pollution that can be emitted by 25%, from a level of 12 micrograms per cubic metre to 9 micrograms per cubic metre.

Alberta: federal emissions cap could impose a $1 trillion hit on Canada’s economy

Draft regulations regarding Canada’s federal emissions cap are expected to be published this spring, with final regulations to follow in 2025.

Equinor’s Bay du Nord soars past 1.3bn barrels of reserves

The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has updated its estimate of producible oil from Equinor’s Cambriol G-92 discovery to 340mn barrels.