US upstream news

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

Oil prices are losing some of yesterday’s gains as API reports an unexpected stock build in US crude inventories.

Oil prices are having some modest gains today, supported by the EU recovery deal.

Halliburton has announced a net loss of US$1.7 billion for 2Q20, compared to a net loss for 1Q20 of US$1 billion.

The acquisition of Noble Energy provides Chevron with offshore assets in Israel and enhances Chevron’s US unconventional position with acreage in the DJ Basin and 92 000 largely contiguous and adjacent acres in the Permian Basin.

The agreement is designed to advance Halliburton’s digital capabilities in Microsoft Azure.

Lease Sale 256, originally scheduled for August 2020, will include approximately 14 755 unleased blocks – all of the available unleased areas in federal waters of the Gulf of Mexico.

READ is now the selected operator of EV’s downhole video technology in Alaska.

The approval ensures that Ohio’s well plugging regulations address modern industry operations, standards and materials while putting in place better planning and review of plugging operations by the well owner as part of the permitting process.

The four-year contract will provide a minimum of 30 Non-Umbilical Downhole Deployment Valves (NU-DDV™) that will be deployed in Eni’s critical wells.