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.
Drilling & production - 25 March 2020
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 oilfield services company is anticipating a rapid reduction in active drilling and hydraulic fracturing activity.