Drilling & production

The Japanese company has cuts its annual net profit forecast by 93%.

The operation was conducted from an integrated subsea template structure at the Fenja field in the Norwegian North Sea.

The agreement enables Wellpro Group to enhance its existing well intervention portfolio.

The drilling programme for well 7321/8-2 S relates to the drilling of a wildcat well in production licence 719.

The Wressle oil discovery in Lincolnshire, UK, is expected to flow at a constrained rate of 500 bpd gross.

The farm-out agreement with Georgina Energy is for the exploration permit 155 in the Amadeus Basin in Australia's Northern Territory.

Continental Resources reported a net loss of US$185.7 million, or US$0.51 per diluted share, for 1Q20.

Kosmos Energy generated a net loss of US$183 million, or US$0.45 per diluted share, in 1Q20.

Hess has reported a net loss of US$2433 million, or US$8.00 per common share, in 1Q20.

Apache reported a loss of US$4.5 billion or US$11.86 per diluted common share during 1Q20.

The company has reported a net loss attributable to Murphy of US$416 million in 1Q20.

The two three-year renewals are worth a combined total of more than US$100 million.

The company's IFRS net income was negative US$0.71 billion, following net impairments of US$2.45 billion.

Nigeria will not hold bidding rounds for major oilfields until crude prices recover, and some upstream projects will be completed much later than originally planned.

Cuts in the industry's investment budgets will leave only US$60 billion worth of greenfield tenders for contractors to compete for, the lowest in two decades, according to Rystad Energy.