US upstream news
Oxford Flow establishes US subsidiary in Houston
The flow control equipment supplier has created a US subsidiary, Oxford Flow Americas, and appointed Andy Ghiz as VP, Americas.
Subsea controls deals boost Proserv at start of 2020
The company secured contracts in the Gulf of Mexico and the North Sea during the second half of 2019.
ExxonMobil releases 4Q19 financial results
The company has announced estimated 4Q19 earnings of US$5.7 billion.
DOF Subsea awarded contracts in North America
DOF Subsea has secured contracts for pre-lay and LBL array installation activities in Guyana, subsea installation work in Trinidad and well-head removal work in Canada.
Chevron announces 4Q19 results
Chevron Corp. has reported a loss of US$6.6 billion (US$3.51) per share - diluted) for 4Q19, compared with earnings of US$3.7 billion (US$1.95 per share - diluted) in 4Q18.
Rystad Energy: potential US fraccing ban would have little immediate impact on nationwide oil and gas production
If fraccing activity were to be eliminated on federal acreage the result would be a widespread shift of capital from federal to private and state-owned acreage in a bid to replace the lost oil volumes, according to Rystad Energy.
2019 year of contraction for Texas upstream industry
Through December 2019, the Texas Petro Index lost 9.4% of its value since the February 2019 cyclical peak.
Gulfstream Services, Inc. announces US expansion in three locations
Formed in 1978, GSI has seven locations in the US and one in Aberdeen, Scotland with a global team of 210.
Hess to focus on Guyana and the Bakken during 2020
Over 80% of the company's 2020 Exploration & Production capital and exploratory budget will be allocated to high return investments in Guyana and the Bakken.
US crude oil production efficiency continues to improve
US oil production from tight formations increased in 2019, accounting for 64% of total US crude oil production, according to the US EIA.