U.S. Oil, Gas Rigs Fall Below 400 For The First Time Since 1940
Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week by 34, falling to 374, with the total oil and Continue Reading
Halliburton Lays Off Additional Staff in Houston
Approximately 984 employees were affected. As a result of the dramatic downturn in business sparked by the coronavirus and OPEC+ policy, Halliburton has announced another group layoff this week, according Continue Reading
North Dakota Launches Bakken Restart Task Force
The group is carving out ways to secure, strengthen, and stimulate North Dakota’s energy future. North Dakota’s Department of Mineral Resources has established a Bakken Restart Task Force to help Continue Reading
Turning Oil Wells Back on Is Trickier Than Shutting Them Off
With thousands of oil wells choking back or completely shutting off production, companies already are looking ahead to what may prove to be an even bigger challenge: turning wells back on. U.S. Continue Reading
The Glut Drowning the Oil Market
Lockdown measures are crippling demand, and supply isn’t falling quickly enough to keep up. Oil-storage tanks around the world are rapidly filling with crude, leaving the new production coming out of Continue Reading
U.S. Oil Companies Are Cutting Production Much Faster Than Expected
The United States is on track to cut 1.7 million barrels of oil production per day, according to Reuters calculations of state and company data shared on Thursday. It was Continue Reading
Permian Oil Giant Suffers Large First Quarter Loss
Apache Corp became the latest oil major to report a negative net result for the first quarter, booking a loss of $4.5 billion, or $11.86 per share for the period. Continue Reading
Analysis: US oil and gas rig count falls 34 to 398 as Permian collapse extends
The US oil and gas rig count fell 34 to a total of 398 in the week ended May 6, as Permian basin drilling activity continued to decline, rig data Continue Reading
Hess expands 2020 spending cuts, reduces rigs in Bakken
Highlights Bakken output expected to decline Charters VLCCs to store Bakken Defers Payara activities in Guyana New York — Hess is expanding its 2020 spending cuts in response to low Continue Reading
Some Shale Drillers Are Restarting Production At $25 Oil
U.S. oil prices slumped into negative territory less than a month ago as storage space fills up fast. And yet it appears that some producers are ready to start drilling Continue Reading