Exclusives

The one-day performance tests, which regularly spike company shares on their results, don’t provide enough data to predict future potential, according to a study.

Round One makes available 169 blocks with more than 18 Bboe in prospective resources and proven and probable reserves.

Canada’s ambition to become a top LNG exporter is on track even with oil’s plunge as investment decisions on two megaprojects are set to come next year, British Columbia Premier Christy Clark said.

Companies embrace prescriptive analytics to improve production.

The focus comes as oil and gas operators venture into new frontiers and go deeper into mature ones.

Deepwater International

The emerging Paleogene play in the US Gulf of Mexico continues to offer increasing encouragement for major deepwater discoveries, with Chevron confirming a significant find.

Shell's CEO Ben van Beurden says, "there is a lot more to do" in its North American deepwater sectors. 

Exploration

Encana Corp. has completed the previously announced sale of certain Clearwater assets in Alberta to Ember Resources Inc.

Statoil has agreed to reduce its working interest in the non-operated U.S. southern Marcellus onshore asset from 29% to 23%, following a $394 million transaction with Southwestern Energy, Statoil said in a news release.

Woodside has finalized an agreement with BP to farm in to offshore blocks in the Scotian Basin located off the coast of Nova Scotia, Canada.

EOG Resources Inc. has divested all of its assets in Manitoba and certain assets in Alberta in two separate transactions.

The country plans to offer shallow-water blocks in addition to deepwater and unconventional blocks.

Production

Mexico produced 2.35 MMbbl/d of oil this month through Dec. 28, according to data the Mexico City-based company posted online.

Husky Energy has commenced steam operations at the in situ Sunrise Energy Project in northeast Alberta.

Experts talk about the sector’s past, present and future.

The unconventional revolution is making a big impact, bringing benefits along with concerns. 

Operators in North American shale plays are using more than 5 MMlbs of frack sand per well.

Technology

The company began discussions earlier this year with some contractors to lower rig rates and other services, CFO Mario Beauregard said in a telephone interview. 

Oceaneering International Inc. has entered into a two-year, multiservice vessel charter agreement with Shell Offshore Inc. for use of the Ocean Alliance in the U.S. Gulf of Mexico.

Return To Scene Ltd. has been awarded its first contract for the R2S photographic capture in Canada.

More than 10,000 people working at Mexican oil service companies were laid off this week as state-owned Pemex cut contracts in the face of the global slump in crude prices. More job losses are expected.

DOF Subsea has been awarded several contracts in the GoM.