US upstream news

ExxonMobil faces a loss for the quarter of US$2.3 billion.

Oil prices fell this morning, reversing some earlier gains of the week, as new record Covid-19 infections in the US worry traders.

Offshore installation activities are scheduled for 2020.

Oil prices rose this morning, reversing earlier losses, as a crude stockpile relief in the US, still inspires market confidence.

Excluding Libya, and adjusting for closed dispositions and curtailments, production in 2Q20 is expected to be in line with the same period a year ago and approximately 5% below 1Q20.

The Taggart discovery is located on Mississippi Canyon Block 816 in approximately 5650 ft of water.

The shale company has voluntarily filed for Chapter 11 protection in the US Bankruptcy Court for the Southern District of Texas.

The plan released by the Interior Department’s Bureau of Land Management revokes an Obama-era management system for a huge swathe of federal land on the western North Slope, the National Petroleum Reserve in Alaska.

This will be the third consecutive quarter in which Occidental takes a writedown, bringing the total to as much as US$12 billion in the last nine months, more than half of its market capitalisation.

The three-year contract began on 1 May and will employ 144 Danos personnel in a variety of positions.