Oil & gas news

Oil prices are falling today, with traders ignoring yesterday’s US crude stock news and acknowledging Covid-19’s threat to the demand recovery, while waiting for OPEC’s returned production to hit the market again.

Remote training and monitoring procedures enabled the successful installation of the liner hanger system, cementing products and tubular running services during the COVID-19 lockdown.

Preliminary fluid samples and test results indicate at least 278 m (912 ft) of net oil and volatile oil/gas condensate pay in two intervals.

The drilling programme for well 6407/1-8 S & A relates to the drilling of wildcat wells in production licence 263 D.

Oil prices are seeing modest gains today as surprisingly high oil stock draws are expected in the US, but the rise is capped by concerns over a coming imbalance from August.

The study offers subsurface interpretation for the entire offshore East Coast Canada.

Eni, BP and Total have successfully tested the well drilled on the Bashrush prospect in the North El Hammad concession.

The order from Spirit Energy includes Plexus’ POS-GRIP 5000 psi leak proof “HG” metal to metal sealing surface production wellhead and associated spares and equipment for a new gas well in the UK North Sea.

Petrofac will provide Well Management and Well Operator support for 25 production wells across the Affleck, Balloch, Dumbarton, Flyndre and Lochranza fields in the North Sea.

Oil prices remain largely stable but concerns abound, while the market braces for some OPEC+’s curtailed production to return soon.