NorthAmOil - North America Oil & Gas

Marathon to purchase Ensign’s Eagle Ford assets for $3bn

Marathon Oil has agreed to acquire the Eagle Ford shale assets of Ensign Natural Resources for $3bn cash. The assets – in the core of the play – nearly double Marathon’s Eagle Ford position and are adjacent to its existing wells.

Services giants beat third-quarter profit forecasts

Oilfield services giants SLB, Halliburton and Baker Hughes beat analyst forecasts with their third-quarter profits, buoyed by a pick-up in drilling activity.

NorthAmOil: Teck to sell share of Fort Hills oilsands project to Suncor for $737mn

Chevron: “Our goal is simple – keep methane in the pipe”

Oil supermajor Chevron has published a methane report detailing its approach to detecting, measuring and reducing methane intensity.

Teck to sell share of Fort Hills oilsands project to Suncor for CAD1bn

Canadian miner Teck Resources will sell its stake in the Fort Hills oilsands project to Suncor Energy for CAD1bn ($737mn).

ExxonMobil to sell refinery in Montana to Par Pacific Holdings

ExxonMobil is to sell its refinery in Billings, Montana, to Par Pacific Holdings for $310mn. Exxon is seeking to reduce its refining business except near the US Gulf Coast and in the Midwest, said Reuters.

Hess production up 32% year on year

Auction of US Gulf of Mexico oil and gas acreage to be held in late March

The Bureau of Ocean Energy Management will offer all as-yet unleased acreage in the US sector of the Gulf of Mexico (GOM). The auction, to be held on 29 March, is for oil and natural gas drilling on the Outer Continental Shelf.

Leadership change in Alberta could cause headaches for Ottawa

New Alberta Premier Danielle Smith looks likely to clash more with Ottawa on energy production and climate change than her predecessor

NorthAmOil: Continental to be acquired by Hamm family in sweetened $4.3bn deal

Shale producer Continental Resources will merge with Omega Acquisition, an Oklahoma corporation owned by Continental's founder, Harold Hamm.

Report: TC Energy could sell Keystone oil pipeline, say analysts

TC Energy Corp. of Calgary could sell billions of dollars in assets for partially funding projects in Western Canada and Mexico and may even seek the divestiture of the Keystone oil pipeline to the US Gulf Coast, according to Bloomberg.

More SPR releases possible, Biden confirms, as midterms loom

The administration of President Joe Biden has announced that another 15mn barrels of oil will be sold from the Strategic Petroleum Reserve (SPR), with the president confirming that more releases may occur in an attempt to rein in petrol prices.

BP to acquire biogas producer Archaea for $4.1bn

bp is buying leading Texas-based biogas producer Archaea Energy for $4.1bn in cash and net debt.

Continental Resources to be acquired by Hamm family in a sweetened $4.3bn deal

Shale producer Continental Resources will merge with Omega Acquisition, an Oklahoma corporation owned by Continental's founder, Harold Hamm. The company, one of the US’s largest independent oil companies, will become private.

New Jersey sues five oil and gas companies over climate claims

The State of New Jersey has sued five oil and gas companies over allegations that they made false climate claims that misled the public.

Canadian oil prices see widening discount

Western Canadian Select crude prices have fallen to their widest discount to US benchmark prices since 2018, but this is not being attributed to takeaway capacity shortages.

NorthAmOil: Diamondback to acquire FireBird for $1.6bn

Diamondback Energy has announced a major Midland Basin acquisition, having agreed to purchase the Permian driller FireBird Energy for $1.6bn in cash and stock.

US, Canada drillers add eight rigs

US drillers added seven oil and gas rigs in the week ended October 14, the fourth time in five weeks that Baker Hughes’ count has risen. This is up 226 from October of last year.

EIA: crude inventories surge by almost 10mn barrels because of SPR release

US crude inventories rose by 9.9mn barrels in the week ended October 7, according to official figures from the Energy Information Administration.

EOG Resources paid $84mn in third quarter to settle hedges

US shale oil and gas producer EOG Resources Inc has disclosed that it paid $847mn during the third quarter of this year to settle hedges on energy prices.

Landmark emissions reduction project with ExxonMobil announced in Louisiana

A landmark emissions reduction project in Louisiana has been announced. ExxonMobil, CF Industries and EnLink Midstream are to collaborate on the largest-of-its-kind commercial agreement to capture and permanently store up to 2mn tonnes of CO2.

ExxonMobil mulls purchase of oil recovery specialist Denbury

ExxonMobil is considering a purchase of the oil recovery specialist Denbury, Bloomberg News has reported, citing anonymous knowledgeable sources. The talks are at an early stage, said Bloomberg.

Diamondback to acquire FireBird Energy

Diamondback Energy has announced a major Midland Basin acquisition. Diamondback has agreed to purchase the Permian driller FireBird Energy for $1.6bn in cash and stock.

Washington expected to soften Venezuelan sanctions soon, sources tell WSJ

The US government may soon scale back sanctions on Venezuela government, a move that would allow for the resumption of crude oil exports from the South American country to the US, Europe and other foreign markets.

Noble, Maersk Drilling complete merger

US-based Noble Corp. said on October 3 that it had completed its merger with Maersk Drilling, creating a new leading offshore drilling contractor.