US upstream news

An interview with Sabine Busse, President of ABB Measurement & Analytics Division.

Cerebo Force in-bit sensors are designed to capture weight, torque and bending measurements directly from the bit.

Oil prices rose on Wednesday on expectation for a significant draw in US crude oil stocks last week, but Covid-19 remains a concern.

Included in the current quarter were impairments and other net charges of US$1.8 billion primarily associated with downward revisions to the company's commodity price outlook, severance accruals of US$780 million, and a gain of US$310 million on the sale of Azerbaijan assets.

Exxon has said it is undertaking a comprehensive evaluation across the businesses on a country-by-country basis.

The company reported a net loss of US$93 million for 2Q20.

Schlumberger has reported its second straight quarterly loss after recording US$3.7 billion in impairment and restructuring charges.

A Rystad Energy analysis shows that new operations are now set to rise to above 400 wells in July, and recovery will be especially evident in the Permian Basin, where activity has nearly tripled.

The GD 250HDD pump expands Gardner Denver’s pump offerings into the wider horizontal directional drilling space for the first time.

Revenue from Baker Hughes’ oilfield services business, which accounts for about half of total sales, tumbled 26% to US$2.41 billion in 2Q20.