Carolyn Davis

Halliburton Co. isn’t reporting much impact to its North American business from plunging oil prices yet, but adjustments are likely to occur through 2015 as operators recalibrate, CFO Mark McCollum said Wednesday.

The liability limit for natural gas and oil spill-related damages has been boosted 79% to $134 million from the previous level of $75 million, consistent with recommendations from a federal commission that investigated the Macondo well blowout, the Bureau of Ocean Energy Management (BOEM) said Thursday.

BP plc had begun restructuring its global businesses following the Macondo well blowout in 2010, and the blowout in oil prices is going to require more belt-tightening, executives said Wednesday

Advances in technology to develop unconventional oil and natural gas resources will help lift global liquid supplies to 115 million b/d in 2040 from 89 million b/d in 2010, an increase of almost 30%, ExxonMobil Corp. said Tuesday. Unconventional gas output from North America alone should nearly triple, the oil major said.

The United States should account for about 15% of the global growth in natural gas use for heavy-duty vehicles by 2040, with a 10% share of the domestic market sector, ExxonMobil Corp. is forecasting.

Southwestern Energy Co. COO Bill Way has been promoted to president. Way was hired as COO in September 2011 and would continue also in that role. “Since joining the Southwestern team, Bill’s dedication and leadership have been key in consistently delivering results for the company and creating value for shareholders,” CEO Steve Mueller said. Way previously worked for BG Group plc and ConocoPhillips. He holds a bachelors degree in industrial engineering from Texas A&M University and a masters degree from the Massachusetts Institute of Technology.

A small group of natural gas wells in the U.S. onshore may account for a majority of the methane emissions linked to two major sources — pneumatic controllers and liquid unloadings — researchers at the University of Texas at Austin (UT) said Tuesday.

North America’s natural gas production is projected to grow by about 75% from 2010 to 2040 to around 140 Bcf/d, as unconventional output nearly triples, ExxonMobil Corp. said Tuesday. Within five years, North America should surpass the Russia/Caspian region as the largest gas-producing region in the world.

The U.S. Supreme Court on Monday rejected BP plc’s plea to allow it to block payments for damage claims that could not clearly be traced to the 2010 Macondo oil spill in the Gulf of Mexico.