Drilling & production - 25 March 2020

The company's total net oil and gas production in 2019 amounted to 506.5 million boe, exceeding 500 million boe for the first time.

The reductions include a US$2 billion decrease in spending in upstream unconventionals, primarily in the Permian Basin.

The drilling of Perseverance #1, the company's first exploration well in The Bahamas, has been suspended by the Covid-19 pandemic.

The company will significantly reduce spending this year below its original US$1.2 billion budget.

The oilfield services company is anticipating a rapid reduction in active drilling and hydraulic fracturing activity.

The Maersk Venturer drillship has been working for Tullow offshore Ghana.

US onshore drilling and completion activities are being halted by Equinor.