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The publication continues to provide weekly coverage of upstream, midstream and downstream news, spanning shale oil and gas, LNG, oil sands, transport by pipeline and rail, company performance and regional energy policy – on both national and state or provincial levels. NorthAmOil provides regular updates on the status of major proposed projects in both the US and Canada. The publication also looks at more distant prospects, such as offshore Arctic drilling.
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Cheniere reports first-quarter profit, but moderates growth forecast
Cheniere Energy, the US’ leading exporter of LNG, reported this week that its net income in the first quarter of 2020 reached $375mn, but warned that it had experienced an increase in the number of cargo cancellations by customers.
Hopes for resilience of LNG demand
The COVID-19 pandemic is hitting many industries, including LNG, but there are hopes that demand for the fuel will stay resilient despite being dented in the short term.
NGPL declares force majeure on Sabine Pass gas flows following storms
Natural Gas Pipeline Co. of America (NGPL), a subsidiary of Kinder Morgan, said on April 29 that gas transport to the Sabine Pass delivery point was temporarily suspended after “severe” storms damaged the pipeline.
Dispute between Enbridge and certain shippers continues
The fight between Canada’s Enbridge and some of the shippers on its Mainline system continues, with two producers accusing it of behaving like a monopoly in letters filed with the Canada Energy Regulator.
Diamond Offshore files for bankruptcy protection
Houston-based Diamond Offshore Drilling filed for Chapter 11 bankruptcy protection on April 26 in an illustration of the threat low oil prices represent to the industry.
Cuts continue in Canada, but one bright spot emerges
Canadian energy companies continue to cut spending and production, but dry gas producers could benefit as associated gas output drops.
ExxonMobil modifies operations to make hand sanitiser
ExxonMobil announced last week that it had reconfigured its manufacturing operations in Louisiana to make medical-grade hand sanitiser for donation to coronavirus response efforts in several US states.
Continental reportedly halts most shale production, seeks to cancel deliveries
Continental Resources, one of the US’ pioneering shale producers, has reportedly halted most of its production in North Dakota’s Bakken play and is seeking to cancel at least some contracted oil deliveries.
BP revises terms of Alaska asset sale
Super-major BP has reaffirmed its commitment to closing the sale of its Alaska business to Hilcorp Energy, but said that the two companies had renegotiated the financial terms of the deal in response to the current market volatility.
Sempra introduces feed gas to third Cameron LNG train
Sempra LNG, a subsidiary of US-based Sempra Energy, has started introducing pipeline feed gas to the third liquefaction train at its Cameron LNG project on the Louisiana Gulf Coast.
Cargo cancellations coming in
Buyers in Asia and Europe are reported to have cancelled around 20 cargoes of LNG that were due to be loaded in the US.
Leading oilfield services firms report losses
The three leading oilfield service providers – Schlumberger, Halliburton and Baker Hughes – all reported quarterly losses in the past week.
Ottawa unveils funding for orphan well clean-up, emissions cuts
The Canadian government has said that it will provide CAD1.7bn ($1.2bn) to help clean up abandoned oil wells, as well as creating a CAD750mn ($529mn) fund to help energy companies reduce methane emissions.
Shell reportedly postpones Whale FID in Gulf
Royal Dutch Shell has reportedly postponed a final investment decision on its Whale project in the US Gulf of Mexico.
More woes for Canada as SAGD cuts continue
A growing number of oil sands producers using the SAGD method are curtailing output, amid growing fears over the impact of oil price declines.
Examining the WTI collapse
The unprecedented crash in WTI prices into negative territory has been attributed primarily to the mechanics of futures contracts, but nonetheless illustrates an oversupply crisis as storage fills up.
Another setback for Keystone XL as permit revoked
The long-delayed Keystone XL pipeline has suffered another setback with the cancellation of a permit less than three weeks after operator TC Energy announced that it would proceed with the project’s construction.
Pieridae delays FID on Goldboro LNG
Canada’s Pieridae Energy said last week that it had decided to delay a final investment decision on its proposed Goldboro LNG terminal in Nova Scotia until after September 30.
Texas regulators postpone decision on mandatory production cuts
The Railroad Commission of Texas, which regulates oil and gas activity, has postponed a vote on a proposal to impose mandated production limits in the state.
UPDATED: Oil prices fall to less than zero for the first time in history
Oil prices fell to less than zero for the first time in history as producers ran out of places to store crude on April 20.
LNG market bracing for inevitable shut-ins
LNG shut-ins are thought to be looming, and some regions where the fuel is produced are more vulnerable than others.
Texas approves Annova LNG project
The Texas Commission on Environmental Quality (TCEQ) has issued a state permit to the proposed Annova LNG project at the Port of Brownsville, in South Texas.
Devon amends agreement for sale of Barnett assets
US independent producer Devon Energy announced this week that it has amended an agreement it originally struck in December 2019 to sell its assets in the comparatively mature Barnett shale to Thai-backed Banpu Kalnin Ventures (BKV).
Orsted completes Texas wind farm that will supply ExxonMobil
Denmark’s Orsted announced last week that it had completed its Sage Draw wind project in Texas. The majority of the output from the 120-wind turbine project will be sold to super-major ExxonMobil to help power its Permian Basin operations.
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