NorthAmOil - North America Oil & Gas

Industry group forecasts $29.9bn spending for Canadian oil, gas sector in 2024

The Canadian Association of Petroleum Producers (CAPP) forecasts capital expenditures for Canada’s upstream oil and gas sector will reach CAD40.6bn ($29.9bn) in 2024, rising slightly from an estimated actual investment of CAD39bn for 2023.

Hydrogen could have much bigger climate impact than thought, study suggests

Deploying 'clean' hydrogen could lead to significantly different climate outcomes depending on often-overlooked factors in climate impact evaluations.

Cheniere Energy lowers profit forecast for 2024

Cheniere Energy, the largest LNG producer in the US, revealed on February 22 on a conference call that it has lowered the firm’s profit forecast for 2024

Venezuela's PDVSA bonds plunge as New York court ruling casts doubt on validity

State-controlled Petroleos de Venezuela SA bonds plunged following a ruling by New York State's highest court that Venezuelan law will govern the validity of the debt.

NorthAmOil: New era of M&As ushers in ‘Shale 4.0’

New era of M&As ushers in ‘Shale 4.0’, says Rystad

Rystad says that the new “upper-echelon tier” of Permian exploration and production (E&P) players – following Exxon’s purchase of shale driller Pioneer Natural Resources – ushers in Shale 4.0, a new era of unprecedented dealmaking for shale.

Occidental mulls $20bn sale of Western Midstream

Occidental Petroleum is considering selling Western Midstream Partners, a gas-oriented pipeline operator with a market value of almost $20bn, according to sources quoted by Reuters on February 20.

Chesapeake to slash output by almost 20%

Chord, Enerplus to merge into $11bn Bakken-focused company

Chord Energy Corp. and Enerplus Corp. have agreed to combine in an $11bn stock and cash deal. They will focus on the Williston Basin in North Dakota, Montana and neighbouring Canadian provinces.

Oil, gas companies relinquish all permits off Canada's Pacific coast

Oil companies have voluntarily relinquished all oil and gas permits for the federal waters off Canada’ s Pacific coast. Energy and Natural Resources Minister Jonathan Wilkinson announced what he called a milestone on February 21.