Exclusives

Follow unconventional rig activity across the United States.

Tailored drilling software and optimization services offer cost-effective options.

Chemical producers promote integrated approach that benefits the life of the well.

Mexico oil and gas, Mexico energy reform

How effective Mexican regulators are at managing concerns and informing stakeholders will impact the pace of the country’s energy reformation journey.

petroleum_engineer_-salary-csi-recruiting

While salaries have been slowly recovering, a poll shows that many displaced and laid off workers are coming back to work in the oil and gas industry.

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

Mexico’s leftist presidential front-runner, Andres Manuel Lopez Obrador, may allow more oil and gas fields to be auctioned off if elected on July 1, a top adviser said June 25, striking a moderate tone days before the election.

Canadian oil and gas producer Baytex Energy said it would buy rival Raging River Exploration for about C$2.8 billion (US$2.13 billion) to expand in the oil-rich Duvernay Field in Alberta.

The combined company will operate under the Akita name and have a fleet of 44 high-spec drilling rigs with operations in several major resource basins in the U.S. and Canada.

Shell signed an underwriting agreement for the sale of its entire stake of 97.6 million shares in Canadian Natural, the company said in a statement.

Overall reserves fell by more than 7% at the start of 2018 compared with a year earlier to total 8.483 billion barrels of crude oil equivalent (Bboe), according to data published March 23 by Mexico’s National Hydrocarbons Commission (CNH).

Production

Mexican oil output could return to 2 million barrels per day (MMbbl/d) by about 2022 if the next government pursues plans to auction off development blocks to private investors, Energy Minister Pedro Joaquin Coldwell said June 5.

Vista will pay Monterrey-based Jaguar a further $10 million to compensate the firm for past investments in the projects, or so-called carry costs, the firm said in a statement.

Enhanced completions fuel basin’s steady production.

The four-year exploration plan for the block in the Perdido Fold Basin just south of the U.S.-Mexico maritime border calls for drilling either one or two exploration wells in the block between October and next March, according to the CNH.

U.S. rig count is up six rigs from last week to 990, with oil rigs up 4 to 800, gas rigs up 1 to 189, and miscellaneous rigs up 1.

Technology

Mexican President-elect Andres Manuel Lopez Obrador will seek to end the country's massive fuel imports, nearly all from the U.S., during the first three years of his term while also boosting refining at home.

A U.S. judge has ordered two former finance executives at Penn West Petroleum, now known as Obsidian Energy, to face regulatory charges that they helped engineer a multi-year accounting fraud.

An oilfield service worker shortage is helping drive up service costs for oil producers, especially in the hottest shale fields.

The suit is the latest in a recent series of legal filings seeking to press the cash-strapped oil firm and its refining subsidiary for payment, with actions in recent days by U.S. oil producer ConocoPhillips.

Eight capital analyst Phil Skolnick said he did not see Encana's production miss "as a negative" as production in the larger Permian Basin was up.