North America

Public Capital , Exploration & Production

ConocoPhillips to Revive Shut-in Oil Production in Lower 48

ConocoPhillips, the world's largest independent oil and gas producer, had announced the biggest cuts by any North American producer in April, reducing its output by 460,000 bbl/d by June.

July 1, 2020

Artificial Lift , Well Stimulation

mCloud, nybl Partner to Jointly Optimize First 2,000 Oil Wells in Kuwait, North America

Included in this agreement is cooperation with nybl to deliver a joint solution that will connect and optimize an initial 2,000 oil wells in North America and Kuwait. Cooperation on this solution is now underway.

June 24, 2020

Investment , Unconventional , Legislation

Renaissance Oil Founder Frustrated by Mexico’s Fracking Ban

Ian Telfer, who in 2014 founded Canadian-based Renaissance Oil, noted that earlier this week the company announced it would begin to diversify away from Mexico's energy sector.

June 22, 2020

Rig Counts , Shale Plays

US Rig Count Falls to Record Low for Seventh Week in Row

U.S. oil rigs fell 10 to 189 this week, their lowest since June 2009, while gas rigs dropped by three to 75, their lowest on record according to data from Baker Hughes going back to 1987.

June 19, 2020

Public Capital , People , Unconventional , Shale Plays

Ovintiv Top Exploration Executive Steps Down as Company Trims Workforce

Ovintiv, the oil producer formerly known as Encana, said June 18 it had laid off 25% of its total workforce this month, equally spread across its offices in Calgary, Denver and The Woodlands, Texas.

June 19, 2020

Acquisitions & Divestitures , Trends

Energy A&D Transactions from the Week of June 17, 2020

Here’s a snapshot of recent energy deals including an acquisition by Northern Oil and Gas of core Williston Basin acreage operated by WPX Energy plus the sale of ORRI by Antero Resources.

June 17, 2020

People , Exploration & Production

Investing in Upstream’s Future Amid Oil Industry Crisis

Why it’s essential to maintain hands-on training and support to young upstream professionals during a downturn.

June 16, 2020

Investment , Trade , Tankers , Storage

API Says Mexico Violating New Trade Deal, Hurting Investors

API said U.S. investors have faced difficulties getting permits in Mexico for fuel stations, storage facilities, imported fuel and terminals.

June 15, 2020

Business , Technology , Acquisitions & Divestitures

‘Sold!’ Auctioneers Race to Unload Oil Equipment as US Drilling Dries Up

Cutbacks by E&Ps have prompted auctions for oilfield equipment from Odessa, Texas, to Alberta, Canada. Even if oil prices remain in the high-$30s, that will not be enough to spur much in the way of additional drilling.

June 12, 2020

Drilling

Simmons Edeco Completes First Mexican Drilling Contract for Newpek

Simmons Edeco, a leading supplier of onshore drilling and workover services to the global oil and gas industry, successfully completed its first drilling contract for Mexico oil and gas operator Newpek, a division of Grupo Alfa, a major player in the food, IT, and automotive sectors in Mexico on June 2.

June 11, 2020