NorthAmOil - North America Oil & Gas

Schlumberger, Halliburton report losses as shale slowdown bites

Leading oilfield services firms Schlumberger and Halliburton have both reported declines in quarterly profits, with performance taking a hit in part as a result of the slowdown in shale drilling.

Canada’s energy industry concerned by election result

Canada’s Liberal Party has narrowly held on to power, but will have to rely on the support of the NDP, and potentially the Green Party, in a result that is causing worry for the country’s energy industry.

Pieridae moves closer to building East Coast LNG terminal

Pieridae Energy has completed the purchase of assets from Shell, which secures the majority of the natural gas needed to supply the first train at its proposed Goldboro LNG terminal.

Canadian First Nations show interest in LNG

Four Canadian First Nations in north-west British Columbia have partnered in a climate change initiative that wants to buy into the country’s nascent LNG industry.

All Elba Island units to be in service by mid-2020

Kinder Morgan has said it expects all units at its Elba Island LNG export terminal – which was reported to have entered commercial service last week after several delays – are due to be operational by the first half of 2020.

Goodnight Midstream announces $500mn capital boost

Water infrastructure operator Goodnight Midstream has announced that it has closed a capital investment and an incremental commitment from private equity firm Tailwater Capital.

Indigenous coalition seeking to buy 51% stake in Trans Mountain

The Western Indigenous Pipeline Group, which represents 55 First Nations, has said that it wants to buy a 51% stake in the Trans Mountain pipeline project from the Canadian government.

BP warns of impairment charge related to shale asset sale

Super-major BP has reported that it will record an impairment charge of up to $3bn after agreeing to sell a shale gas asset for less than it was valued on the company’s books.

Norwegian pension fund pulls back from Canada’s oil sands

Norway’s largest pension fund, Kommunal Landspensjonskasse, has dropped four more Canadian energy firms from the list of companies it invests in.

Parsley buying Jagged Peak in Permian mega-merger

Parsley Energy is buying Jagged Peak Energy in a $2.3bn transaction that stands out as one of only a small handful of shale deals this year.

Chevron sets out plan to cut emissions

Chevron has set out new goals to reduce greenhouse gas (GHG) emissions from both its crude oil and natural gas operations.

Investors reportedly interested in Coastal GasLink stake

Potential investors are reportedly showing an interest in buying a stake in TC Energy’s Coastal GasLink pipeline project.

Newfoundland and Labrador boosts offshore resource assessment

The Canadian province of Newfoundland and Labrador has raised its estimate of oil and gas reserves in its waters following the latest independent assessment of its resource potential.

Kinder Morgan starts up first Elba Island unit

Elba Liquefaction, a joint venture between Kinder Morgan and EIG Global Energy Partners, has brought the first unit at its Elba Island LNG project in the US state of Georgia online.

EP Energy files for bankruptcy protection

EP Energy has filed for Chapter 11 bankruptcy protection, aiming to cut $3.3bn in debt under a proposed deal with Apollo Global Management and Elliott Management.

Occidental opens solar facility to power oil operations

Occidental Petroleum has started up a solar facility in Texas that will power an enhanced oil recovery project in the Permian Basin’s Goldsmith field.

USGS boosts Marcellus, Utica reserve estimate

The US Geological Survey has increased its estimate of recoverable reserves in the Marcellus and Utica plays, but producers appear increasingly likely to take a slower approach to tapping these volumes.

BP replaces CEO

Sempra announces potential LNG supply deal with China

Sempra Energy’s MoU with a Chinese company over potential LNG supply co-operation suggests growing optimism that an end to the US-China trade war may be coming

EnCap moves into renewables investments

Houston-based private equity firm EnCap Invesments has launched a new team that will invest in renewables projects.

Gulf Coast Express brought into service ahead of schedule

Kinder Morgan announced last week that the Gulf Coast Express gas pipeline from the Permian Basin to the Texas Gulf Coast was entering service slightly ahead of schedule, on September 25.

NextEra buying Meade Pipeline for $1.37bn

Independent power producer NextEra Energy Partners has agreed to buy Meade Pipeline, which owns a 39.2% interest in the Central Penn Line in Pennsylvania.

Alberta raises oil production limits again

The government of Alberta has once again raised provincial oil production limits, to 3.80mn barrels per day in November and 3.81mn bpd in December.

One step forward, two steps back for Enbridge

Pipeline operator Enbridge has encountered setbacks on several different fronts in recent days, but continues to push ahead with its plans.

Annova LNG pushes FERC for permit decision

Exelon-backed Annova LNG is pushing the US Federal Energy Regulatory Commission to make a decision on a permit for the company’s proposed export terminal at the Port of Brownsville, Texas.