US upstream news
Devon Energy revises 2020 CAPEX downwards
The US$300 million of incremental capital reductions will be driven by the deferral of activity in the Eagle Ford, improved capital efficiencies in the Delaware Basin and lower service-cost pricing.
BHP awards McDermott contract for Trion FPU pre-FEED design
The pre-FEED scope includes engineering tasks related to the configuration, sizing and preliminary analysis of the FPU, including topsides, hull, risers and mooring.
Global E&P CAPEX to reach 13-year low in 2020, predicts Rystad Energy
Global CAPEX for exploration and production firms (E&Ps) is expected to drop by up to US$100 billion this year, according to Rystad Energy.
Rystad Energy predicts over 1 million OFS jobs will be cut in 2020
The largest job reductions in 2020 are expected to be within shale, according to Rystad.
Chevron reduces 2020 capital spending plan
The reductions include a US$2 billion decrease in spending in upstream unconventionals, primarily in the Permian Basin.
Halliburton to reduce 2020 spending
The company will significantly reduce spending this year below its original US$1.2 billion budget.
Schlumberger cuts spending by 30%
The oilfield services company is anticipating a rapid reduction in active drilling and hydraulic fracturing activity.
Equinor makes CAPEX cuts
US onshore drilling and completion activities are being halted by Equinor.
Aker Solutions secures umbilicals order from Chevron
The contract includes work for the Anchor project in the US Gulf of Mexico.
Talos Energy makes further budget restrictions
The company has said it still continues to expect to generate positive free cash flow in 2020.