Drillers added eight oil rigs in the week to May 19, bringing the total count to 720, the most since April 2015, energy services firm Baker Hughes Inc. (NYSE: BHI) said on May 19.
Four industry veterans helm Dallas-based Aspen, which will offer midstream services across North America.
Pieridae Energy Ltd., the company behind a proposed LNG terminal on Canada's east coast, is looking to buy producing assets in western Canada or in the Marcellus Shale in the U.S., its CEO said May 15.
Drillers added nine oil rigs in the week to May 12, bringing the total count up to 712, the most April 2015, energy services firm Baker Hughes Inc. (NYSE: BHI) said on May 12. While that is more than double the same week a year ago when there were only 318 active oil rigs, the pace of those additions has declined with the total over the past four weeks falling to the lowest since March.
Completion of the Rover pipeline, which is being built to boost Marcellus and Utica shale gas production, is not expected to be delayed by a U.S. federal order to stop new drilling to install pipe, Energy Transfer said.
Publicly held midstream operators fared much better in our second annual review of a sector preparing for an active 2017. C corps continued to dominate the little-changed Top 10 of the rankings, while compressor services firms joined the list.
Goldman Sachs commodity strategist Jeff Currie said May 10 if the U.S. government were to introduce a border tax adjustment on crude oil imports, the spread between Brent and WTI would widen dramatically.
Stakes in Iroquois and Portland systems will be dropped down to TC Pipelines.
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.
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.