Prior to “the big one,” North America was a bit of an energy enigma.

What will be the next big thing in the North American oil patch? Look to “some things old, something new.”

Mexico, seismic, exploration, CNH, SENER, Gulf of Mexico

More than 2 million sq km (772,204 sq miles) of new 2-D and 3-D seismic are expected to lure companies to Mexico’s E&P sector.

ConocoPhillips Attacks Debt With 13 Billion In Canadian Divestitures

Cash proceeds will be used to reduce company debt to $20 billion in 2017 and double existing share repurchase authorization to $6 billion.

Trump Administration Approves Keystone XL Pipeline Permit

TransCanada received approval for the 1,179-mile cross-border pipeline application by the U.S. State Department, ending a years-long battle.

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. 


ConocoPhillips reported a surprise quarterly loss on May 2 as operating costs came in higher than Street estimates, sending its shares down as much as 2.4% in early trade.

Suncor Energy, Canada's largest energy producer, is still evaluating opportunities for oil sands acquisitions in northern Alberta as foreign oil majors exit the high-cost region, CEO Steve Williams said April 27.

The deal, announced in March, effectively doubled the size of Cenovus Energy, but wiped out about a fifth of its market value, with some investors complaining that the price was too high.

Cenovus Energy said it may sell parts of the Deep Basin natural gas assets it recently bought from Houston-based ConocoPhillips, Royal Bank of Canada analysts wrote in a research note.

BP is considering the sale of its stakes in three Canadian oil sands projects, people familiar with the matter told Reuters this week, as part of its strategy of retreating from noncore businesses.


U.S. energy firms added oil rigs for a 16th week in a row, extending a drilling recovery into a 12th month even as the pace of those additions has slowed in recent weeks as crude prices have held below $50 a barrel.

Revenue at the company was up 55% to 349 billion pesos ($18.6 billion), according to a filing with the Mexican stock exchange.

In both tie-ups, Pemex will have a 50% stake, while the partners will have the remaining half and will be designated as the operators of the projects. Both projects feature existing infrastructure due to past Pemex work in the areas as well as ongoing production.

Drillers added nine oil rigs in the week to April 28, bringing the total count up to 697, the most since April 2015, energy services firm Baker Hughes Inc . (NYSE: BHI) said on April 28.

Pemex, which is looking for a partner to develop the block, estimates it to hold reserves of some 500 million barrels of oil equivalent based on data gathered from five wells drilled in the past, the company said in a statement.


A U.S. "border adjustment tax" could slap a tax of up to 20% on imports including crude oil, affecting Canadian companies, which send most of their products southward.

Quarterly revenue fell to $2.26 billion in the first quarter ended March 31 from $2.67 billion. Analysts’ on average had expected revenue of $2.27 billion, according to Thomson Reuters I/B/E/S.

Net loss attributable to Halliburton narrowed to $32 million, or 4 cents per share, in the first quarter ended March 31, from $2.41 billion, or $2.81 per share, a year earlier.

Drillers added five oil rigs in the week to April 21, bringing the total count up to 688, the most since April 2015, energy services firm Baker Hughes Inc. (NYSE: BHI) said on April 21.

Drillers added 11 oil rigs in the week to April 13, bringing the total count to 683, the highest since April 2015, energy services firm Baker Hughes Inc. (NYSE: BHI) said on April 13. At this time a year ago, there were 351 active oil rigs.