NorthAmOil - North America Oil & Gas

Court ruling delivers mixed fortunes for Dakota Access

A US federal appeals court declined this week to shut down the Dakota Access pipeline, operated by Energy Transfer, but upheld a ruling from a lower court retroactively throwing out a decision that had allowed its construction.

Tellurian’s Souki urges industry to clean up its act

Tellurian’s co-founder and executive chairman, Charif Souki, has urged the oil and gas industry to do more to clean up its act.

Keystone XL’s demise boosts importance of other pipelines

US President Joe Biden’s cancellation of the cross-border permit for the Keystone XL pipeline last week means that other pipeline projects providing takeaway capacity from Canada’s oil sands have assumed greater importance.

Schlumberger, Baker Hughes anticipate recovery

Oilfield services firms Schlumberger and Baker Hughes have both reported better-than-expected results for the fourth quarter of 2020, and have predicted that a gradual recovery will take place over the course of 2021.

Enerplus to buy Bruin in Bakken bet

Calgary-based Enerplus announced this week that it had agreed to buy Bruin E&P HoldCo. for $465mn. Privately owned Bruin is a pure-play company focused on the Williston Basin in North Dakota.

Biden doubles down on climate change mitigation

New US President Joe Biden has announced a moratorium on new oil and gas leasing on federal land and in federal waters as part of a series of measures aimed at slowing climate change.

Biden redoubles effort to slow climate change

In a series of executive orders to slow climate change, President Joe Biden has established the latter as a national security priority.

Hess’ quarterly loss shrinks compared with previous quarter and year figures

US-based Hess has reported a net loss of $97mn in the fourth quarter of 2020. This was up from a loss of $222mn in the same quarter of 2019 and a loss of $243mn in the third quarter of 2020.

NRG NorthAmOil: Biden administration moves to freeze federal oil and gas leasing

The new administration of US President Joe Biden has started taking steps that will affect oil and gas leasing on federal land and in federal waters.

Panama Canal congestion contributes to LNG price spike

Congestion in the Panama Canal delaying shipments of LNG from the US Gulf Coast to Asia is among the factors contributing to record-high spot prices for the super-chilled fuel in Northeast Asia.

Suncor, Husky take White Rose royalty battle to court

Canadian producers Suncor Energy and Husky Energy – now part of Cenovus Energy – have filed a lawsuit against the provincial government of Newfoundland and Labrador, alleging that they overpaid royalties for the White Rose project.

Sore spots in US-Mexico energy relations

Biden takes office in the face of US concerns about competition in Mexico's energy markets – and a Mexican leader’s determination to uphold his own preference for state-owned companies.

Commonwealth LNG tries new approach to contracting

Commonwealth LNG is prioritising flexibility in its newly launched tender for offtake from its planned facility in Louisiana.

Halliburton sees bright spots amid fourth-quarter loss

Oilfield service provider Halliburton reported a net loss for the fourth quarter of 2020, but said that its revenue rose on a sequential basis, with its North American revenue showing the largest increase.

Keystone XL’s fate sealed as Biden takes office

New US President Joe Biden took immediate steps to cancel the Keystone XL pipeline upon taking office this week, despite operator TC Energy’s last-ditch efforts to save the pipeline.

Tellurian hopes to start Driftwood construction this summer

US LNG developer Tellurian is hoping to start construction on its proposed Driftwood LNG terminal in Louisiana this summer, even though a final investment decision (FID) has not been made on the project yet.

US rejoins global Paris Accord in bid to tackle climate crisis

President Joe Biden, sworn into office on 20 January, immediately ordered the US to rejoin the all-important global Paris climate pact. Fighting climate change is a major policy plank of the new president.

Kosmos announces Gulf discovery

Kosmos Energy announced this week that an oil discovery had been made in the US Gulf of Mexico with the Winterfell well, in which it holds a 17.5% interest.

NRG: LNG spikes, political swings and new technologies

NextDecade deal for Irish LNG supply falls through

Summit cleared to proceed with Double E construction

Summit Midstream Partners announced this week that it had been granted its notice to proceed with construction of the Double E gas pipeline in the Permian Basin by the US Federal Energy Regulatory Commission (FERC).

CAPP forecasts 14% increase in Canadian upstream investment

The Canadian Association of Petroleum Producers (CAPP) said this week that it expected investment in upstream oil and gas in the country to rise by 14% in 2021.

Enbridge battles over pipelines on two different fronts

Canada’s Enbridge has been battling over two separate issues related to its Mainline oil pipeline system and its Line 5 pipelines in the Straits of Mackinac in Michigan.

What’s next for the Venezuelan sanctions regime?

The incoming Biden administration is likely to take a softer approach to Venezuelan sanctions, but opposition leader Guaido will continue to play a role in US policy discussions .

Judge approves Chesapeake’s bankruptcy plan

A US judge has approved Chesapeake Energy’s Chapter 11 bankruptcy plan this week, giving lenders control of the firm, whose value has risen since it first filed for bankruptcy protection last year.