Tullow Oil outlines additional cost savings
The company is targeting CAPEX of c.US$300 million in 2020 (down from c.US$350 million) and decommissioning expenditure of c.US$65 million (down from c.US$100 million).
Drilling & production
Murphy Oil to make further cost savings
The company has made an additional reduction in the 2020 capital plan down to the new midpoint of US$780 million from the previously announced US$950 million in March 2020.
Petrobras announces further cuts to production
Oil production will be cut by 200 000 bpd, a volume that includes the reduction of 100 000 bpd announced on 26 March 2020.
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First gas achieved at ONGC project in Krishna Godavari Basin
At 4265 ft (1300 m), the first well that has been opened for early first gas is the deepest water depth opened by ONGC.
BP announces cuts to spending
BP has cut its 2020 spending plans by 25% and will reduce output from its US shale oil and gas business.
Wintershall Dea awards Applied Petroleum Technology global frame agreement
Applied Petroleum Technology will provide geochemical analyses including consultancy services to deliver interpretation of drilling samples and other reservoir data.
ERIELL Group provides 2019 operational update
The company's 2019 projects were mainly concentrated in Russia and Uzbekistan.
ABS to provide classification for Silver Eagle's self-elevating drilling units
Silver Eagle says the self-propelled design is capable of working at greater water depths and in harsh environments.
Key Petroleum responds to Covid-19
Key has made an application a 12-month Suspension and Extension for Permit Year 3 in which the Wye Knot-1 well was to be drilled.
More Drilling & production news
Oil Search completes well tests in Alaska
Mitquq 1 ST1 flowed at a stabilised rate of 1730 bpd from a single stimulated zone, while the Stirrup 1 exploration well flowed at a stabilised rate of 3520 bpd from a single stimulated zone.
Neptune Energy anticipates increase in North Sea produced volumes in 2020
Neptune anticipates 2020 to see produced volumes increase, reflecting production from the Cygnus field and an additional 3000 boe/d from assets set to be acquired from Energean Oil & Gas.
Zenith Energy receives LOI for US$2 million investment
The LOI has been signed with an Arab consortium of strategic institutional investors focused on African development opportunities.
Rystad Energy: rig utilisation could fall by 18% in Southeast Asia in 2020
Southeast Asia’s rig market, which was poised for growth in 2020, is now set for decline, according to analysis by Rystad Energy.
Shell updates 1Q20 outlook
Shell has said that post-tax impairment charges in the range of US$400-800 million are expected for 1Q20.
Devon Energy revises 2020 CAPEX downwards
The US$300 million of incremental capital reductions will be driven by the deferral of activity in the Eagle Ford, improved capital efficiencies in the Delaware Basin and lower service-cost pricing.