Oil & Gas News

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Drilled Well Count Set to Hit 20-year Low

Industry Headlines

Buffett Sees NatGas Sticking Around for Long Time Share your comments
Thursday, July 16, 2020Warren Buffett's $9.7 billion bet on natural gas looks even more contrarian today.

OGCI Lays Down Carbon Intensity Target Share your comments
Thursday, July 16, 2020The Oil and Gas Climate Initiative announced Thursday a target to reduce the collective average carbon intensity of its member companies' aggregated upstream oil and gas operations.

Oil Retreats from High on OPEC+ Taper Share your comments
Thursday, July 16, 2020Oil retreated from a four-month high after the OPEC+ alliance confirmed it would start tapering output cuts from next month.

G20 Commits $Billions to Energy Share your comments
Thursday, July 16, 2020G20 countries have committed at least $267.1 billion to support different energy types through new or amended policies since the beginning of the pandemic.

Oil Prices Get Boost from Trump China Move Share your comments
Wednesday, July 15, 2020Oil jumped to a four-month high after U.S. President Donald Trump indicated that he doesn’t want to add more sanctions against Chinese officials.

Oil Market Heading in Right Direction Share your comments
Wednesday, July 15, 2020The oil market is heading in the right direction, for now.


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Exploration

Drilled Well Count Set to Hit 20-year Low Share your comments
Thursday, July 16, 2020A Rystad Energy analysis projects the number of oil and gas wells drilled globally will approach 55,350 this year.

Weatherford Signs 20-well Iraq Contract Share your comments
Tuesday, July 14, 2020Weatherford International reported late Monday that it has signed an 18-month contract with Iraqi Drilling Co. (IDC).

MOL Discovers Significant Reserves in Pakistan Share your comments
Tuesday, July 14, 2020MOL revealed Tuesday that it has discovered 'significant' gas and condensate reserves in Pakistan.

ExxonMobil Resumes Guyana Drilling Share your comments
Monday, July 13, 2020Two of Exxon's four drillships went back to work, according to data published Friday by Baker Hughes Co.

Baker Hughes Shows Mixed Rig Counts Share your comments
Friday, July 10, 2020The number of rotary rigs operating in the U.S. decreased over the past week but increased in Canada, Baker Hughes Co. reported Friday.

Weatherford Secures Four-year Eni Contract Share your comments
Friday, July 10, 2020Weatherford International has signed an exclusive four-year contract with Eni for downhole casing isolation valves.


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Production

Modec FPSO Contracts Go to Keppel Share your comments
Thursday, July 16, 2020Above is an aerial view of the Keppel’s Tuas Shipyard in Singapore. PHOTO SOURCE: Keppel O&M

Restored OPEC+ Output to Be 'Barely Felt' Share your comments
Wednesday, July 15, 2020The decision was widely expected but still carries some risks for the cartel.

Heavier Middle East Crudes Getting Pricier Share your comments
Tuesday, July 14, 2020Middle East producers are banking on robust demand from Asia for its more sulfurous and dense crude.

OPEC Projects 2021 Surge in Crude Demand Share your comments
Tuesday, July 14, 2020OPEC expects demand for its crude oil to rebound sharply next year.

Saudi Official Offers Sign of Less OPEC+ Cheating Share your comments
Monday, July 13, 2020Saudi Arabia commended Iraq for implementing almost all of its oil production cuts last month.

$463MM Deal to Boost Iran Oil Field Output Share your comments
Monday, July 13, 2020Iran's Persia Oil and Gas Industry Development Co. signed a $463 million agreement with state-run National Iranian Oil Co. to operate and further develop Yaran oil field.


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Finance and Investing

Woodside Warns of $4.3B Post Tax Hit Share your comments
Wednesday, July 15, 2020Woodside Petroleum has warned that it expects to take a post-tax hit of $4.37 billion in its financial results for the first half of the year.

BP Investing $70MM in GGEF Share your comments
Wednesday, July 08, 2020BP is investing $70 million in India's Green Growth Equity Fund.

FAR in Default on Senegal Project Share your comments
Thursday, June 25, 2020On top of the default announcement, FAR also revealed more job losses and executive pay cuts.

Hamm Adds $57MM of Faith In Continental Share your comments
Thursday, June 25, 2020Billionaire wildcatter Harold Hamm bought more shares in the shale drilling company he controls as oil prices recover from their historic plunge.

Primeline Energy Insolvent Due to CNOOC Debt
Tuesday, June 23, 2020Its arbitration claims for breaches of contract and damages were dismissed.

Extraction Oil & Gas Files Bankruptcy Share your comments
Monday, June 15, 2020It's the latest producer to succumb to the energy industry's slump.


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Company Operations

Trident Buys 10 Concessions from Petrobras Share your comments
Thursday, July 16, 2020Trident Energy has closed the acquisition of the Pampo and Enchova clusters offshore Brazil from Petrobras.

BW LPG Sells Vessel Share your comments
Thursday, July 16, 2020BW LPG Limited has concluded the sale and delivery of its Berge Summit vessel to an unnamed new owner.

Trump Admin Overhauling Environmental Reviews Share your comments
Wednesday, July 15, 2020Changes to the National Environmental Policy Act (NEPA) will apply to new oil wells, pipelines, highways and other projects.

Pemex Reveals Virus Death Toll Share your comments
Wednesday, July 15, 2020Bloomberg reports that no company has disclosed a worse death toll than Mexico's state-owned oil producer.

Fracking Services Company Files for Chapter 11 Share your comments
Wednesday, July 15, 2020Hi-Crush Inc has voluntarily filed petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code.

Virus Speeds Up Eni Oil Refining Exit Share your comments
Tuesday, July 14, 2020The coronavirus pandemic will accelerate Eni SpA's pivot away from conventional refineries to investing in greener facilities.


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