NorthAmOil - North America Oil & Gas

Sempra makes LNG progress

US-based Sempra Energy is making progress at both its existing Cameron LNG export project in Louisiana and its planned Port Arthur facility in Texas.

Minnesota regulators issue draft permits for Line 3 replacement

The Minnesota Pollution Control Agency has issued three draft permits that are required by Canada’s Enbridge to build the Line 3 oil pipeline replacement project.

Tellurian struggles with market conditions

Weakening LNG demand is weighing on US LNG developer Tellurian, with two pieces of unwelcome news for the company being announced in the past week.

Ottawa, BC, Wet'suwet'en chiefs reach tentative agreement over land rights

The Canadian and British Columbia governments have reached a tentative agreement with hereditary chiefs of the Wet'suwet'en First Nation to acknowledge land title rights, in a step forward in a dispute relating to the Coastal GasLink pipeline.

Chevron unveils plan to return $80bn to shareholders

Super-major Chevron unveiled a plan this week to return up to $80bn to shareholders through dividends and share buybacks over the next five years.

Shale’s heavy hitters seen weathering the storm

Leading shale-focused independents EOG Resources and Pioneer Natural Resources beat analyst expectations for fourth-quarter profits, and are well-positioned to outperform their peers as the industry downturn continues.

Hopes and fears for Canada’s oil sands

Questions remain over the future of the oil sands, with some projects better positioned than others to proceed.

Ovintiv announces first results since renaming

Ovintiv, formerly known as Encana, has issued its first set of quarterly results since the company completed its renaming and its re-domicile from Canada to the US.

Pioneer’s CEO urges investors to shun high-flaring firms

Pioneer Natural Resources’ CEO, Scott Sheffield, has called on energy investors to punish shale producers with high rates of natural gas flaring by selling shares or pulling funding from them.

Energy Transfer signs NGL agreements, makes midstream progress

Midstream operator Energy Transfer has signed a set of agreements with an unnamed company covering the gathering, processing, transportation and fractionation of natural gas liquids in Texas.

Venture Global makes progress with supply deal, compressor contract

Two separate announcements over the past week show US-based Venture Global making progress with elements of its plans for both the Plaquemines LNG and Calcasieu Pass LNG projects in Louisiana.

Chesapeake hit by quarterly loss

Chesapeake Energy reported its results for the fourth quarter of 2019 this week, with its quarterly and annual losses illustrating how the low commodity price is hammering some shale producers.

Cheniere’s profits balanced by demand concerns

LNG exporter Cheniere Energy has reported rising profits, but has also issued a warning about slowing demand for the fuel in Asia.

Teck withdraws oil sands application prior to federal decision

Canada’s Teck Resources has withdrawn its application to build the Frontier oil sands mine, just days before the federal government was due to make a decision on the project.

South Korea leans more heavily on US oil

South Korea’s imports of crude oil from the US more than doubled in 2019 as refiners sought to diversify their supply portfolios and 2020 is expected to follow a similar trend.

North Dakota continues to struggle with flaring

Flaring of associated natural gas production continues to pose challenges in North Dakota’s Bakken play, with efforts to reduce the practice falling short of state targets.

TC Energy talks up gas pipeline expansion plans

Canada’s TC Energy has said that it will continue to invest in expanding its gas pipeline network across North America but remains cautious on the Keystone XL oil pipeline.

Shale producer results start to roll in

A handful of shale producers released their results for the fourth quarter of 2019 this week, with more set to follow and several trends already emerging.

EIA forecasts slow short-term shale growth

The US Energy Information Administration (EIA) has forecast that short-term output growth will be slow across the country’s leading shale regions between this month and next.

Enbridge to acquire Rio Bravo pipeline from NextDecade

Enbridge has struck a deal to buy the planned Rio Bravo gas pipeline, which will supply the proposed Rio Grande LNG project, from NextDecade.

Coastal GasLink pipeline fight intensifies

Protests against the planned Coastal GasLink pipeline have escalated, disrupting transport networks across Canada in solidarity with hereditary chiefs of a British Columbia First Nation that oppose the project.

US seeks to carve out space for LNG in Europe

Shell boosts Permian production

Royal Dutch Shell increased its production in the Permian Basin – the US’ most productive shale region – to 250,000 barrels per day in December 2019.

Suncor loss widens on impairment charge

Suncor Energy has reported a wider quarterly loss compared to what it achieved a year ago, with the result affected by a one-time impairment charge.

Noble takes $1.2bn charge related to Eagle Ford assets

US independent Noble Energy has taken a $1.16bn charge related to its assets in the Eagle Ford shale play in South Texas.