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US upstream news

Weatherford and Safe Influx sign drilling technology MoU

The companies will cooperate globally to focus on revolutionising well integrity during the construction phase by bringing to market the first ever integration of Managed Pressure Drilling (MPD) solutions and Automated Well Control technology.

 
 
 
 

Oil falls as market corrects boosted price levels

Oil prices declined today as the market is correcting the exaggerated price levels reached in yesterday’s session. Meanwhile, Covid-19 demand concerns and US supply return.

 
 

Weatherford appoints new CEO

Effective 12 October 2020, Girish K. Saligram will be the company’s President and CEO.

 
 

Oil prices continue to fall

Oil prices are continuing to fall, with most concerns focusing on the US, where Covid-19 isn’t slowing down and road fuel demand trembles.

 

Valaris files for Chapter 11 restructuring

Valaris has reached an agreement with approximately 50% of its noteholders on a prearranged plan that would reduce debt by more than US$6.5 billion.