Shale Titans Proving OPEC Right and More

Here are some of Rigzone's top upstream stories during the last week, just in case you missed them…

Shale Giants Proving OPEC Right 

Bloomberg reported that Saudi Arabia’s bet that the golden age of U.S. shale is over appears to be a safe one, for now. A round-up of data shows shale drillers are sticking to their pledge to cut costs, return money to shareholders, and reduce debt, according to Bloomberg. 

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Pemex Offshore Discovery Could Hold 1B Barrels 

Bloomberg highlighted that Petroleos Mexicanos discovered what’s expected to be a billion-barrel oil field in Tabasco.

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Will AI Replace People in Oil and Gas?

John Markus Lervik, the CEO and co-founder of Cognite, shares his insights on how the industry’s focus on digitalization has changed and on related trends in the digital evolution of oil and gas operations.

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Federal Legislation Would Hike Onshore Royalty Rate 

New legislation introduced last week would increase the royalty rate for oil and gas production on federal lands by 50 percent.

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Oil and Gas Charter Flight Demand Surging

Bookings for charter flights for oil and gas crews have risen dramatically, according to the global aircraft charter broker Air Charter Service.

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Shell CEO Pay Almost Halves in 2020

Royal Dutch Shell’s CEO, Ben van Beurden, saw his pay almost halve last year, the company’s latest Form 20-F revealed. According to the document, van Beurden’s single total figure of remuneration was $6.9 million (EUR 5,841,000) in 2020.

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North Sea Exploration Ban Impact 

Independent energy research and business intelligence company Rystad Energy and industry body Oil & Gas UK comment on the effects of a potential licensing ban in the North Sea.

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To contact the author, email andreas.exarheas@rigzone.com