Rigzone's Top 20 Upstream Articles of 2020 - Part III
Here is a list of Rigzone’s top upstream stories of 2020, just in case you missed them…
10/ Which US Oil Companies Are Going to Struggle?
Back in March, Edison - an investment research, investor relations and consulting firm with offices in North America, Europe, the Middle East and AsiaPac - predicted that U.S. shale companies that were highly leveraged would struggle with low oil prices due to the nature of their business model. During the month of March, Brent crude prices dipped below $25 per barrel and WTI prices fell below $22 per barrel.
This article was originally posted on March 12. Read the full article here
9/ Oil Industry Experts Say Shale Will Rise Again
Oil industry experts said shale would rise again. That’s what Bloomberg reported in an article posted at the end of March this year. Bloomberg highlighted that the comeback trail would be steep and long, however, adding that as many as 70 percent of the 6,000 shale drillers may go bankrupt.
This article was originally posted on March 27. Read the full article here
8/ What Happens to McDermott Stock?
Following McDermott’s delisting from the New York Stock Exchange earlier this year, McDermott confirmed that its shares would continue to trade in the immediate term in the over the counter marketplace. In a statement at the time, however, the company warned that they were proposed to be cancelled as part of McDermott’s restructuring.
This article was originally posted on February 11. Read the full article here
7/ Schlumberger Job Cuts to Top 21,000
In July, Bloomberg reported that Schlumberger had posted its weakest sales in 14 years and that the company was cutting one-fifth of its workforce. It was revealed that more than 21,000 workers were being let go.
This article was originally posted on July 24. Read the full article here
6/ Apache Responds to Low Oil Prices
Back in March, Apache Corporation announced multiple actions in response to the oil price environment at the time. The company revealed that it was reducing its Permian rig count to zero and outlined that activity reductions were planned in Egypt and the North Sea.
This article was originally posted on March 13. Read the full article here
Rigzone’s top 20 upstream articles series lists the top 20 upstream articles, in terms of views, as of December 20. The remaining five articles in the series will be revealed on December 31.
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