Drilling & production

The measures include a reduction in output of 225 000 bpd.

The interests include a 9.57% stake in the Azeri-Chirag-Gunashli oilfield, and an effective 8.9% stake in the Baku-Tbilisi-Ceyhan pipeline that transports crude to the Mediterranean port of Ceyhan.

Zenith has entered into a new conditional Deed of Variation which now includes the acquisition of a 100% interest in AAOG Congo and related intracompany loans for a revised total consideration of £200 000.

The company is investing in Arrow Energy's Surat gas project in Queensland, Australia.

The company has also announced its intention to delist from the New York Stock Exchange.

The North Field East project will increase Qatar’s LNG production capacity from 77 million tpy to 110 million tpy.

The joint venture between the two companies was set up to develop licence blocks in Russia's Yamal peninsula.

The company has also said it has received notices of early termination of contracts from ExxonMobil.

Geolog has been present in the US market since 2014.

The predicted spending reductions translate to a US$24.4 billion cut in 2020 compared to last year.

Currently, all office employees of the company are now working remotely, with 70% in their third week.

The revised 2020 capital budget of US$1.3 billion or less includes the implementation of 2Q20 frac holidays in the Bakken and Eagle Ford.

The company will be reducing its average rig count from 9 to approximately 3 in the Bakken and 10.5 to approximately 4 in Oklahoma.

Of the 100 listed energy service companies analysed by Rystad Energy across the various service segments for this research, more than two-thirds are unlikely to be able to meet their interest payment obligations on time this year.

The contract has been extended until at least March 2022.