NorthAmOil - North America Oil & Gas

OPEC+ allows Kazakhstan to raise output by 10,000 bpd in Feb and March

A long, strange year: 2020 in review

NewsBase’s editors are marking the start of 2021 with a review of how each of the regions covered by our organisation was affected by the events of the past 12 months.

NRG: Energy markets edge cautiously into a new year

Concerns about energy demand and OPEC+ production quotas continue to exert pressure on oil prices, despite the debut of the COVID-19 vaccine

Texas players make midstream moves

Several separate midstream developments have been reported in Texas in the past few days, focused on natural gas gathering and transmission.

BP buys majority stake in leading US carbon offset player

Super-major BP has acquired a majority stake in Finite Carbon, the largest developer of forest carbon offsets in the US.

Another step forward for New Jersey LNG-by-rail project

The Delaware River Basin Commission (DRBC) voted last week to approve a permit for construction of Delaware River Partners’ LNG export terminal in Gibbstown, New Jersey.

Trudeau steps up decarbonisation efforts

Canadian Prime Minister Justin Trudeau has unveiled a decarbonisation plan that will see the carbon tax gradually rise over the coming decade, with implications for the oil industry.

Parsley prepares to lay off staff as part of merger

Parsley Energy will lay off most of its Austin, Texas workforce as part of its takeover by Pioneer Natural Resources.

ExxonMobil unveils new emissions reduction targets

ExxonMobil has set a deadline of 2025 for reducing the intensity of upstream emissions by 15-20% compared with 2016 levels, methane intensity by 40-50% and flaring intensity by 35-45%.

Calcasieu Pass LNG construction ahead of schedule

Construction on Venture Global LNG’s Calcasieu Pass export terminal is reported to be ahead of schedule, while the company anticipates cargoes for a second project to be fully contracted by the middle of 2021.

NRG: Brent soars to nine-month high

Total expands LNG footprint with ECA LNG equity stake purchase

France’s Total has agreed to buy an equity stake in Sempra Energy’s Energía Costa Azul LNG project, further expanding its already extensive LNG footprint.

Cheniere reportedly loads commissioning cargo from Corpus Christi Train 3

Leading US LNG exporter Cheniere Energy has reportedly loaded the commissioning cargo from the third liquefaction train at its Corpus Christi terminal in Texas.

Tough times for Alberta

Alberta’s oil producers are battling to survive a particularly challenging year, and the province is now considering ways to embrace greener industries, with implications for the provincial oil industry’s future.

Whitecap buying Torc for $442mn

Canada’s Whitecap Resources announced this week that it had struck a deal to acquire Torc Oil & Gas in an all-stock deal valued at around CAD565mn ($442mn).

Newfoundland and Labrador government offers lifeline to West White Rose

The government of the Canadian province of Newfoundland and Labrador announced last week that it would provide CAD41.5mn ($32.4mn) worth of funding for Husky Energy’s stalled West White Rose project.

88 Energy prepares to drill at Project Peregrine following farm-out

Australia-based 88 Energy is making progress with its Project Peregrine development in the National Petroleum Reserve-Alaska (NPR-A) on the state’s North Slope.

NRG: Oil market strategising

Policy decisions made this past week will have both long and short-term ramifications for the wider energy sector.

Chevron follows ExxonMobil in capex cut

Chevron followed rival super-major ExxonMobil in announcing a cut to its capital expenditure budget last week.

Despite friction, OPEC+ reaches output compromise

Maverick acquires FourPoint in all-equity deal

Maverick Natural Resources announced this week that it had acquired FourPoint Energy, the largest producer in the Western Anadarko Basin, spanning Oklahoma and Texas.

Fight over Enbridge’s Line 5 intensifies as Line 3 replacement receives final permit

The fight over Enbridge’s Line 5 has intensified in recent weeks, with Enbridge filing a legal challenge against a Michigan order to shut down the pipeline as a review of its proposed tunnel under the Straits of Mackinac is extended.

Suncor raises spending, production guidance for 2021

Suncor Energy, like fellow major Canadian producer Imperial Oil, Suncor is cautiously planning to raise capex and production next year.

ExxonMobil cuts capex amid $17-20bn write-down

ExxonMobil unveiled reduced capital expenditure plans for the coming years this week, as it warned of write-downs worth $17-20bn on assets across the Americas in its fourth-quarter earnings.

Sempra to combine US, Mexican LNG subsidiaries

California-based Sempra Energy has announced this week that it is simplifying its energy infrastructure business – a plan that entails combining its two LNG subsidiaries into a single unit.