US upstream news
ConocoPhillips cuts production and spending
The measures include a reduction in output of 225 000 bpd.
Covid-19 and low oil prices could cancel over half of 2020’s licensing rounds globally, predicts Rystad Energy
New licensed offshore acreage is likely to fall by about 60% and onshore acreage by 30% compared with 2019 levels, according to Rystad Energy.
Rystad Energy: US crude oil stock builds break records
US crude oil stock builds hit a new weekly record in the week ending April 10 (week 15) as about 17.2 million bbl was sent into storage.
Weatherford provides update on expected results for 1Q20
The company has also announced its intention to delist from the New York Stock Exchange.
ExxonMobil field testing methane detection technologies
Field trials of eight emerging methane detection technologies, including satellite and aerial surveillance monitoring, are being conducted at nearly 1000 sites in Texas and New Mexico, US.
Chevron awards Subsea 7 Anchor field contract
Subsea 7 will provide subsea installation services at the Anchor field in the Green Canyon area of the Gulf of Mexico.
Geolog to acquire Nabors' US mudlogging assets
Geolog has been present in the US market since 2014.
IHS Markit predicts 36% spending cut for North American E&P Companies in 2020
The predicted spending reductions translate to a US$24.4 billion cut in 2020 compared to last year.
Rystad Energy: third of available crude storage capacity in the US will already be filled in April
With additional oil coming, the largest production shut-ins in the country’s history are not far off, according to Rystad.
Marathon Oil revises 2020 spending
The revised 2020 capital budget of US$1.3 billion or less includes the implementation of 2Q20 frac holidays in the Bakken and Eagle Ford.