Canada

In a flip from the previous week’s rig count, the latest tally from Baker Hughes Inc. (BHI) showed offshore rigs making a comeback, gaining eight units, while the land rig category added just three for a total gain of 11 rigs to 508 active in the United States. Louisiana led the states among gainers, and it’s about time.

The latest tally of rigs from Baker Hughes Inc. (BHI) showed offshore units making a comeback, gaining eight, while the land rig category added just three for a total gain of 11 rigs to 508 active in the United States. Meanwhile, analysts at Societe Generale see oil and natural gas markets tightening.

Canada’s chief natural gas-producing province is feeling the heat of competition from low-cost U.S. shale gas.

Natural gas production from shales will account for 30% of global output by 2040 as shale resources are developed in more countries, particularly Mexico and Algeria, according to the U.S. Energy Information Administration (EIA).

The United States exported 104.63 Bcf (3.38 Bcf/d) to Mexico through pipelines in May, the most of any month on record and a 21% increase compared with 86.81 Bcf (2.80 Bcf/d) exported in May 2015, according to Energy Information Administration (EIA) data.

Canada announced an accelerated safety schedule Monday for stopping railway crude oil deliveries with an old generation of accident-prone tank cars that had a role in a Quebec tragedy three years ago.

Customer optimism returned during the second quarter as prices improved, Precision Drilling Corp. CEO Kevin Neveu said, with drillers adding back rigs in both the United States and Canada in anticipation of a potential recovery heading into 2017.

Royal Dutch Shell plc and its Asian partners late Monday said they are delaying their decision to commit the billions needed for a massive liquefied natural gas (LNG) export project planned for the west coast of Canada.

Illinois-based Dillon Transport, a trucking fleet serving the oil, chemical and asphalt industries among others, helped open its seventh natural gas fueling facility Thursday as a Clean Energy Fuels Corp.-designed and built station was unveiled in Houston.