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  • BHP Billiton to reduce US shale rigs

    In response to lower oil prices, BHP Billiton will reduce its US shale drilling spending by reducing the number of rigs by 40%.


    Christmann succeeds Farris (shown here) as Apache president, CEO

    Farris retires as president, CEO of Apache

    Apache's chairman, president, and CEO, Steven Farris (pictured here), is retiring. He will continue as non-executive chairman of the board until May 1. John J. Christmann IV, Apache's executive vice president and COO for North America, succeeds Farris as president and CEO, and joins Apache's board on Jan. 20.  


    15 things to watch in North America upstream in 2015

    The drop in oil prices has led to an unprecedented level of uncertainty going into 2015, especially for the prospects of the North American upstream oil and gas sector. Wood Mackenzie analysts detail some of what the industry can expect.  


    2015 will be 'extraordinarily tough' for oil companies

    The pain limit for US shale drillers was reached when US oil prices dropped below 50 USD/bbl. Without the invisible hand of OPEC, how fast will oil supply adjust and what is the new balancing oil price?


    Can Canadian oil and gas cope at $50 oil?

    The majority of the Canadian oil and gas industry is set for difficult times ahead; less than 20% of the biggest oil and gas companies in Canada have 'sustainable operations' at $50 oil, says CanOils.  


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    Commodity Indices

    Market Indices

    Latest Oil & Gas Industry News

    Santos acquires stake in Deepwater Block R

    January 30, 2015 Inpex Corp., through its wholly owned subsidiary, Inpex Offshore South West Sabah Ltd., has reached an agreement to transfer 10% of its participating interest in Deepwater Block R to Santos Sabah B...

    Total awarded 10% in new 40-year ADCO concession

    January 30, 2015 Total has signed a new 40-year onshore concession agreement with the Supreme Petroleum Council of the Emirate of Abu Dhabi (United Arab Emirates) and the Abu Dhabi National Oil Co. (ADNOC), grantin...

    Eclipse Resources completes $440 million equity raise

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    Kinder Morgan acquires 121 Point Breeze Terminal

    January 30, 2015

    Kinder Morgan has acquired 121 Point Breeze Terminal LLC, owner of a refined petroleum products terminal serving the US Mid-Atlantic region.

    Alta Mesa terminates Eagle Ford PSA

    January 30, 2015

    Alta Mesa Holdings LP has terminated a purchase and sale agreement with ReOil Eagle I LLC related to the divestiture of Alta Mesa's Eagle Ford shale play assets.

    Apco completes merger with Pluspetrol Black River

    January 30, 2015 Apco Oil and Gas International Inc. has completed its merger with Pluspetrol Black River Corp., a wholly owned subsidiary of Pluspetrol Resources Corp., in an all-cash transaction with an equity va...

    DCP Midstream reduces workforce by 20%

    January 30, 2015 In a statement, the company called the move ‘a corporate restructuring’ resulting in the closing of the company’s Oklahoma City regional office, as well as a headcount reduction in the Tulsa and Mi...

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    More News & Updates

    Eclipse Resources completes $440 million equity raise

    Jan 30, 2015 Eclipse Resources Corp. has closed its private placement of 62,500,000 shares of common stock. Th...

    Alta Mesa terminates Eagle Ford PSA

    Jan 30, 2015 Alta Mesa Holdings LP has terminated a purchase and sale agreement with ReOil Eagle I LLC related...

    Rig Count

    Area Count Change
    US 1543 90
    Canada 394 38
    International 1313 11

    Source: Baker Hughes Inc.
    US & Canada rig counts updated weekly. International updated monthly.

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    WoodMac: Five themes that will shape the oil and gas corporate landscape in 2015

    Jan 23, 2015 Assessing the challenges facing oil and gas majors, independents, and national oil companies, Woo...

    Faroe, Lundin, and Cairn awarded exploration licenses in Norway

    Jan 22, 2015 Faroe Petroleum plc, Lundin Petroleum AB, and Cairn Energy have been awarded exploration licenses...

    Óleo e Gás Participações loses two executives, reduces workforce 40%

    Jan 22, 2015 Brazilian oil and natural gas company Óleo e Gás Participações SA has advised its shareholders th...
    Oil Markets

    Fitch: Gas rig uptick illustrates capital allocation optionality

    January 30, 2015 The recent uptick in gas-directed rigs illustrates the capital allocation optionality and potenti...
    Energy Players

    Thulin elected to Chevron board of directors

    January 29, 2015 Chevron Corp. has elected Inge G. Thulin to its board of directors, effective Jan. 28. He will serve on the company’s Board Nominating and Governance Committee and Management Compensation Committee.
    Business Solutions

    Texas-based drilling contractor wins $8.3M verdict

    January 28, 2015 A judge in Kendall County Texas has awarded Drilling Risk Management Inc. (DRMI) $8.3 million in a lawsuit filed against Gemini Insurance Co. and its underwriter, Berkley Oil & Gas Specialty Se...
    Upstream

    Eclipse Resources completes $440 million equity raise

    January 30, 2015 Eclipse Resources Corp. has closed its private placement of 62,500,000 shares of common stock. Th...
    Unconventional

    Eclipse Resources completes $440 million equity raise

    January 30, 2015 Eclipse Resources Corp. has closed its private placement of 62,500,000 shares of common stock. The shares were sold to selected institutional and accredited investors, including affiliates of EnCap...
    Midstream

    CEN to invest $40M in new midstream platform

    January 29, 2015 Center Coast MLP & Infrastructure Fund has agreed to invest up to $40 million, through a limi...
    Capital

    Eclipse Resources completes $440 million equity raise

    January 30, 2015 Eclipse Resources Corp. has closed its private placement of 62,500,000 shares of common stock. Th...
    Analysis

    Fitch: Gas rig uptick illustrates capital allocation optionality

    January 30, 2015 The recent uptick in gas-directed rigs illustrates the capital allocation optionality and potenti...
    Mergers & Acquisitions

    Santos acquires stake in Deepwater Block R

    January 30, 2015 Inpex Corp., through its wholly owned subsidiary, Inpex Offshore South West Sabah Ltd., has reach...

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