The furlough program and part-time work status actions impacted more than 30 percent of the company’s US workforce. Noble Energy Inc. Chairman and CEO David L. Stover says the company’s Continue Reading
No one is feeling the pain of an oil collapse more than the shale producers. Except, perhaps, their suppliers. Take Stacy Locke, chief executive officer for Pioneer Energy Services Corp. Continue Reading
ConocoPhillips said Thursday it will cut back its 2020 spending and production volumes more dramatically, slicing its capital spending by 35% and removing a total of 225,000 boe/d from its Continue Reading
Just days after the largest production cut in history, WTI fell below $20 per barrel. The oil world was hyper-focused on what OPEC+ might do over the past week, and Continue Reading
Just days after OPEC and its allies announced their big deal to rescue the global oil industry, it’s becoming brutally clear that all they’ve done is limit the worst of Continue Reading
Global oil production cuts could end up rising to 20 million bpd, including forced reduction of output such as already underway in the United States, the Saudi Energy Minister, Abdulaziz Continue Reading
In Fargo, North Dakota, cheap fuel has never been so unwelcome. The Midwestern city is so awash in gasoline, the fuel last week sold for a record 12 cents a gallon Continue Reading
The American Petroleum Institute (API) has urged the Texas Railroad Commission (RRC) to avoid intervening in oil markets. “U.S. producers in Texas and across the country have already reduced production Continue Reading
Only weeks ago, scores of rating agencies sounded the alarm that the coronavirus credit crunch would set in motion a wave of corporate bankruptcies that would make the 2008 credit Continue Reading
OPEC may have reached a deal to cut 10 million bpd, but for many U.S. shale producers, it is too little, far too late. Much ado has been made about Continue Reading
