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Study Finds GOM Offshore Industry at Risk
Thursday, May 28, 2020Potential leasing and drilling bans threaten the GOM oil and gas industry, NOIA-commissioned study finds.
Texas Oil Production Drops
Wednesday, May 27, 2020Crude oil production in Texas dropped year on year in March, according to the Railroad Commission of Texas' latest figures.
GWA JV Gets Lincoln Extension from OGA
Wednesday, May 27, 2020The UK Oil & Gas Authority has extended the deadline for the commencement of the GWA joint venture's commitment well on the Lincoln subarea of license P1368 to June 30, 2022.
Oil CEO Says US Shale Rebound Is At Least a Year Away
Wednesday, May 27, 2020US shale drillers may still take at least a year before moving rigs back into the field.
CNOOC's Latest Penglai Phase Starts Production
Tuesday, May 26, 2020A new wellhead platform has been built, with 47 wells planned in total.
Russia to Ease Cuts From July in Line With OPEC+ Plan
Tuesday, May 26, 2020Russia is going to stick to the terms of the OPEC+ deal struck earlier this year.
Three-year Middle East Contract Goes to Oceaneering
Thursday, May 21, 2020Oceaneering has won an asset integrity contract for onshore and offshore work from a Dubai-based operator.
Shale Output Seen Tumbling to 2018 Low
Tuesday, May 19, 2020Oil production from the top seven shale regions in the U.S. is set to tumble to levels not seen since 2018.
Focus On: Health, Safety & Environment
No One Expected Shale Cuts to Happen So Fast
Monday, May 18, 2020Drillers are laying down rigs and shutting in wells at a frantic pace in response to the plunge in oil prices caused by the coronavirus pandemic.
US Shut-Ins Could Reach 2MMBPD in June
Thursday, May 14, 2020Gross U.S. production cuts could reach two million barrels per day in June, according to Rystad Energy.
Is Rig Count a Reliable Production Gauge These Days?
Wednesday, May 13, 2020The link between oil and gas output and the rig count may have come adrift.
Oil Market Recovery Could Be Erratic
Wednesday, May 13, 2020IHS Markit Energy Advisory Service sees pattern of "stop-and-go rallies and selling cycles."
Pipe Giant Says Drillers Already Reopening Wells
Tuesday, May 12, 2020Some drillers in the biggest North American oil field are reopening wells shut in response to the pandemic-driven price collapse, according to pipeline giant Energy Transfer LP.
2Q To See Most Liquid Production Cuts Ever
Monday, May 11, 2020The second quarter of this year will see the largest volume of liquids production cuts, including shut-in production, in the history of the oil industry, according to IHS Markit.
Continental to Curtail 70 Percent of Oil Output in May
Monday, May 11, 2020It's one of the most aggressive production cuts announced to date among US producers.
Louisiana Layoffs, Shut-ins Happening Faster Than Expected
Wednesday, May 06, 2020Survey by Louisiana oil and gas industry group shows 23-percent layoff and 77.5-percent well shut-in figures.
Vaca Muerta Development Teeters on Virus
Wednesday, May 06, 2020The rush to develop Argentina's giant Vaca Muerta shale field was already wobbling when the Covid-19 pandemic struck.
FPSO Sector Might Show Fast Recovery
Wednesday, May 06, 2020The FPSO sector has not been immune to the oil industry slowdown, but it might be best-positioned to bounce back when the upstream recovers.
Texas Votes No on Proration
Wednesday, May 06, 2020The Texas Railroad Commission voted against government mandated cuts at its latest meeting on May 5.
Coronavirus Downturn May Nullify 10 Years of Oil Demand Growth
Tuesday, May 05, 2020Unprecedented crude oil demand declines over the second quarter of the year will wipe out over a decade of industry growth in barrel terms.
Chevron Down to 5 Permian Rigs
Tuesday, May 05, 2020Chevron is currently running five rigs in the Permian basin, the company's chairman and CEO, Mike Wirth, revealed in a recent Bloomberg television interview.
Shale Producers Eye Potential Fracking Revival at $30 Oil
Tuesday, May 05, 2020Some shale producers said all they need is $30 oil to consider bringing back curtailed crude output.
Amid Oil Rout, Challenge Is Picking Which Wells Close
Monday, May 04, 2020Figuring out which wells to shut, and for how long, is the hard part.
Regulator Says Texas Quotas on Oil Output Are DOA
Monday, May 04, 2020He expects a proposal for mandated production cuts is now dead a day before the state will vote on the measure.
Permian Drillers Slash Output Themselves
Monday, May 04, 2020On the same day OPEC-style oil quotas in Texas were pronounced dead on arrival, shale drillers disclosed more supply cuts.
Conoco Updates Voluntary Cut Volumes
Friday, May 01, 2020ConocoPhillips estimates its voluntarily production cut in May will amount to 265,000 barrels of oil per day gross.
OPEC Output Surged Most in 30 Years in April
Friday, May 01, 2020Saudi Arabia, the cartel's most powerful member, pumped a record of more than 11 million barrels a day.
Norway Decides to Cut Oil Production
Thursday, April 30, 2020Norway's ministry of petroleum and energy revealed Wednesday that the country has decided to cut its oil production.
Saudi Oil Exports Soar Ahead of OPEC+ Cuts
Thursday, April 30, 2020The oil-price war may be over, but the effects are still rippling through the market.
Petrobras Switches Gears on Production Cuts
Wednesday, April 29, 2020Plans are also underway for initiatives that expand oil export capacity.
The Outlook for US Oil and Gas Production
Wednesday, April 29, 2020Longer-term, the outlook for US production is not all gloom as domestic demand will clearly return.
Neptune Starts Fenja Drilling Campaign
Tuesday, April 28, 2020Neptune Energy announced Tuesday that its drilling campaign on the Fenja field offshore Norway is now underway.
How Much Oil Does OPEC Really Have?
Monday, April 27, 2020With Saudi Arabia as the linchpin, OPEC's importance in the global oil market is clear.
US Fracking Set for Biggest Ever Monthly Drop
Friday, April 24, 2020The Covid-19 pandemic, coupled with low oil prices, is likely to cause the largest monthly drop in fracking activity ever recorded in the United States, according to Rystad Energy.
Eni Cuts Production Forecast, Sees 94 Percent Slump in Profit
Friday, April 24, 2020The bulk of the cuts --eighty percent-- will come from the exploration and production business.
Aker BP's Ærfugl Phase 2 Production Starts Early
Thursday, April 23, 2020The well's production is three years ahead of schedule.
Oil Slump, US Sanctions Push Iran to Desperate Sales Tactics
Thursday, April 23, 2020Dire market conditions and Covid-19 have sent Iran scrambling for ways to monetize its sanction-ridden barrels at a time of historically low prices.
TechnipFMC Wins Offshore Australia Contract
Wednesday, April 22, 2020The Woodside contract covers development of the Lambert Deep and Greater Western Flank fields.
Chevron Banned From Producing Oil in Venezuela
Wednesday, April 22, 2020The US is increasing pressure on Nicolas Maduro's regime as the country reels from Covid-19 and the lowest oil prices in a generation.
Arrow Sanctions First Phase of $10B SGP
Monday, April 20, 2020Arrow Energy has sanctioned the start of the first phase of its Surat Gas Project in southern Queensland.
Russia's Oil Producers Told to Cut Output by Fifth
Monday, April 20, 2020After days of consultations on how to divide the supply curbs, companies were told to split Russia's 2.5 million barrel-a-day cut proportionally.
Saudis and Russia Hint at Further Action
Friday, April 17, 2020Saudi Arabia and Russia signaled they may be open to further output cuts after the latest OPEC+ deal to curb global oil supplies failed to stem crude's downward spiral.
Petrobras Hibernates 62 Platforms
Thursday, April 16, 2020Petrobras has begun hibernating 62 platforms in shallow water fields offshore Brazil.
OPEC Sees its Oil Demand Dropping to Lowest in 30 Years
Thursday, April 16, 2020It hasn't pumped this little crude since early 1989.
API Urges RRC to Avoid Oil Market Intervention
Wednesday, April 15, 2020The American Petroleum Institute has urged the Texas Railroad Commission to avoid intervening in oil markets.
Texas Railroad Commissioner Talks Proration
Tuesday, April 14, 2020RRC commissioner Ryan Sitton gives a statement prior to the group's proration hearing on Tuesday.
OPEC+ Confirms Production Cut Details
Friday, April 10, 2020After much speculation, OPEC+ has finally confirmed what the group agreed to at its latest webinar meeting, which lasted for several hours.
Kosmos' Greater Tortue Ahmeyim Project Hits Delays
Thursday, April 09, 2020First gas is now anticipated in the first half of 2023.
Equinor Plans to Power Offshore Platforms with Wind
Thursday, April 09, 2020A rendering of the Hywind Tampen floating wind farm between the Gullfaks and Snorre licenses in the North Sea. Illustration copyright Equinor AS
North American Associated Gas Output Could Fall 10 Bcfd
Wednesday, April 08, 2020IHS Markit sees big changes on the horizon for the North American natural gas supply.
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