Exclusives

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.

At CERAWeek Justin Trudeau Says US Needs Canada Oil Patch

The Canadian Prime Minister also said the Trans Mountain, Keystone XL and Line 3 pipeline projects will ensure North American energy security for years to come.

John Schultz, president of Direct Energy

CERAWeek panel expresses concern over the ability to serve regions if projects cannot move forward.

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

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.

TAQA’s North American oil and gas business is based in Calgary with some of its properties in its South Area extending into Montana, North Dakota and Wyoming in the U.S.

Chevron is exploring the sale of its 20% stake in Canada's Athabasca Oil Sands project, which could fetch about $2.5 billion, according to people familiar with the situation.

Private equity firm Waterous Energy is targeting companies in Canada and the U.S. and is finding Canada particularly appealing, said Adam Waterous.

The JV will offer 'one of the broadest multistage completions portfolios in the market combined with one of the largest hydraulic fracturing fleets in the industry,' according to the release.

Production

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.

Drillers added 10 oil rigs in the week to April 7, bringing the total count up to 672, the most since August 2015, energy services firm Baker Hughes Inc. (NYSE: BHI) said on April 7. During the same week a year ago, there were 354 active oil rigs.

Drillers added 10 oil rigs in the week to March 31, bringing the total count up to 662, the most since September 2015, energy services firm Baker Hughes Inc. (NYSE: BHI) said March 31. During the same week a year ago, there were 362 active oil rigs.

Drillers added 21 oil rigs in the week to March 24, the biggest weekly increase since the week to Jan. 20, bringing the total count up to 652, up from a six-year low of 316 in May, energy services firm Baker Hughes Inc. (NYSE: BHI) said March 24. During the same week a year ago, there were 372 active oil rigs.

Technology

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.

By approving the Keystone XL pipeline without public input and an up-to-date environmental assessment, the Trump administration violated the National Environmental Policy Act, the groups said in their legal filing.

Drillers added 14 oil rigs in the week to March 17, bringing the total count up to 631, the most since September 2015, energy services firm Baker Hughes Inc. (NYSE: BHI) said March 17. During the same week a year ago, there were 387 active oil rigs.

The increase came despite a collapse in crude futures this week to a three-month low because the rigs activated this week were based on decisions made a couple of month ago when oil prices were higher.

Canada sends 75% of exports, including almost all of its crude, to the U.S., and U.S. President Donald Trump's vow to renegotiate NAFTA could negatively affect the country.