North American

The last North American rig count of 2017 went out with a whimper instead of a bang as the number of rigs actively drilling for oil and gas for the week ending Dec. 29 declined by two units to 929, according to Baker Hughes data.

Tasked with turning around Weatherford International plc, CEO Mark McCollum said Wednesday challenging days still are ahead as management restructures and casts off dead weight.

Halliburton Co. CEO Jeff Miller said the company isn’t concerned about a onshore rig count plateau, viewing it as a sign that customers are trying to ferret out the best opportunities for production. Meanwhile, the largest oilfield services company in North America is navigating through $50/bbl oil, even as global oil production could decline by as much as 1 million b/d by 2021.

Natural gas sales heated up across North America in the first three months of the year, raising volumes and prices of flows between Canada, the United States and Mexico, according to the U.S. Department of Energy (DOE).

Following a two-year oil price war that sharply disrupted global output and bankrupted dozens of North American operators, Saudi Arabia’s energy minister warned Tuesday that the decision by the Organization of the Petroleum Exporting Countries to temporarily reduce output doesn’t mean a free ride for anybody.

Weatherford International plc reported a big uptick in its North American operations during the third quarter, with revenue rising 12% sequentially, which bodes well for strength across other product service lines going forward, the CEO said Wednesday.

The Montney formation in Western Canada, already connected to existing — and unconstrained — pipeline infrastructure, will be called upon to increasingly meet North America’s natural gas demand, Encana Corp. executives said Tuesday.

The Montney formation in Western Canada, already connected to existing — and unconstrained — pipeline infrastructure, will be called upon to increasingly meet North America’s natural gas demand, Encana Corp. executives said Tuesday.

Baker Hughes Inc. expects the North American rig count will “begin to stabilize” in the second half of this year, but things are expected to get worse before they get better, CEO Martin Craighead said Wednesday.