US upstream news
Hess downsizes 2020 capital and exploratory budget
The reductions to the company’s 2020 capital budget will be primarily achieved by shifting from a six rig programme to one rig in the Bakken, which is expected to be completed by the end of May.
Pioneer Natural Resources to reduce 2020 capital spending
The company has reduced its drilling, completion and facilities capital budget by approximately 45%.
ExxonMobil aiming to "significantly" reduce spending
The company is aiming to reduce spending as a result of market conditions caused by the Covid-19 pandemic and commodity price decreases.
OTC 2020 postponed
The event, due to be held in May in Houston, Texas, has been postponed to the third quarter of 2020.
SPE/ICoTA Well Intervention Conference and Exhibition cancelled due to Covid-19
The event was due to be held in The Woodlands in Texas, US, from 24 - 25 March.
Apache Corp. reduces 2020 capital investment plan
Activity reductions are planned in the Permian Basin, Egypt and the North Sea.
McDermott reorganisation plan approved
The US Bankruptcy Court for the Southern District of Texas has confirmed the company's Plan of Reorganization.
EIA: US crude oil exports reached nearly 3 million bpd in 2019
The growth in US crude oil exports in 2019 has been attributed to increasing US crude oil production, expanding domestic infrastructure, and increasing global demand for light, low-sulfur crude oils.
Stress Engineering launches digital flex joint angle monitoring system
The system is for monitoring real time drilling operations.
Murphy Oil reduces 2020 CAPEX plans
Murphy’s revised 2020 budget is now approximately US$950 million, a nearly 35% revision.