president, Barak Obama, press briefing, White House, Keystone, pipeline, rejection, TransCanada

Since its initial application nearly seven years ago, Transcanada’s Keystone XL pipeline has become a symbol for politicians and environmental groups—for different reasons.

mexico, round one, second phase, oil, production, Gulf of Mexico

Three of five Gulf of Mexico blocks offered were awarded during the second phase of Mexico’s Round One.

Shell, drilling, offshore, Arctic, Alaska, Burger, exploration

Shell has spent about $7 billion on exploration in the waters off Alaska so far and said it could take a hit of up to $4.1 billion for pulling out of the Chukchi Sea for the "foreseeable future".

Energy XXI, John Schiller, Barclays Energy Power Conference, oil, production, Gulf of Mexico

The major Gulf of Mexico player plans to reduce its capital spending in 2016 by 78% to between $130 million and $150 million, while maintaining production levels.

Wood Mackenzie, costs, cuts, reductions, conventional, unconventional, oil, price

Oil and gas companies continue looking for cost cuts as $50 oil makes pre-sanctioned projects uneconomic, an energy consultancy says.

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. 


The oil fields, located in Howard and Borden counties, will be bought from Tall City Exploration LLC and Plymouth Petroleum LLC, Yantai Xinchao Industry Co. Ltd. said in the filing to the Shanghai Stock Exchange.

Geotechnical field operations, laboratory testing and geoconsulting activities will support exploration drilling activities in the Bay of Campeche and deepwater locations in the Perdido area, a news release said.

The deal is valued at about C$6.6 billion including Canadian Oil Sands' debt of C$2.3 billion as of June 30.

The licensed approved 19.597 line km survey is positioned toward Mexico’s recently announced five-year plan for leases, Dolphin Geophysical said.

Halliburton's proposed acquisition of Baker Hughes ran into regulatory hurdles with the U.S. antitrust enforcers who believe the $35 billion merger will lead to higher prices and less innovation.


"The State Department has decided the Keystone XL pipeline would not serve the national interests of the United States. I agree with that decision," President Barack Obama said, Reuters reported.

Mexico will take part in a technical meeting of OPEC on Oct. 21 in Vienna but will not cut oil production, energy minister Pedro Joaquin Coldwell said, Reuters reported.

The National Energy Board of Canada granted the company a 25-year permit to import as much as 312 Bcf of natural gas per year by pipeline from the U.S. and western Canada and then convert it.

Output has dropped by nearly a third since peak production of 3.4MMbbl/d in 2004. Lower oil output this year has weighed on growth in Latin America's second-largest economy, Reuters said.

Shale producers can save 30% of the drilling cost with walking rigs, which can move from one wellbore to another--10 meters in less than an hour, Reuters said.


Terms of the license will allow Pemex's commercial arm, Pemex Comercio Internacional, to import U.S. light crude from October for one year, with the limit capped at 75Mbbl/d, Reuters reported.

The U.S. National Hurricane Center said the Category 5 storm was the strongest ever recorded in the Western Hemisphere.

April 1 blast at offshore Abkatun A Permanente processing platform operated by Pemex in shallow water at southern edge of the Gulf of Mexico also left 45 injured, Reuters said.

Total said the 120-day period is inordinately long and exposes it to an unacceptable level of risk in the current market conditions.

Energy Information Administration estimates Mexico has more than 60 billion barrels of shale resources. This would provide more than 35 years of Mexican oil supply at current U.S. production levels.