US upstream news

Pioneer will acquire all of the outstanding shares of Parsley in an all-stock transaction valued at approximately US$4.5 billion.

Oil prices fell today as a projected rise in US crude oil inventories raised concerns in the market that the supply-demand balance is deteriorating.

Oil prices have swung towards both sides today, due to the uncertainty that the OPEC+ meeting created, and as the US election is coming closer and closer.

ConocoPhillips has agreed to buy US shale oil producer Concho Resources Inc for US$9.7 billion.

PDC Energy successfully installed 22 248 ft of 5.5-in. x 20.00 ppf VA-EP-P110 VAtitan-TC in the Ferguson 23G-202 well located in the Wattenberg Field in the Denver-Julesburg Basin.

SmartFleet gives operators real-time fracture control while pumping by integrating subsurface fracture measurements, live 3D visualisation, and real-time fracture commands.

CNX Resources have successfully installed 27 361 ft of 5.5” 23# VA-EP-P110-NY VAtitan-TC on the Maj-12 pad in the Pennsylvania Utica Shale.

NTS Group has acquired Amega West Services from Carpenter Technology Corporation.

Oil prices declined today as US President Donald Trump halted negotiations on a new stimulus bill that would support the Covid-19 hit economy, while US crude stocks also increased.

C-Innovation has acquired the controlling interest in Caltex Oil Tools, which provides equipment rentals, services and customised engineering capabilities to the offshore industry.