COVID-19

The shale industry could shoulder 65% of $100-billion 2020 global E&P spending cut. Can oilfield services providers afford to cut their fees further to prop up hard-hit operators?

Equinor announced that one person at the Martin Linge field in the North Sea offshore Norway has tested positive for the coronavirus. The company says the person is not seriously ill.

SPE is actively monitoring the situation and potential impacts on future activities. The health and safety of our members, attendees, and staff is our highest priority, and that will guide our decision-making.

The prescribed treatment for market- and virus-induced oil price collapse is to quickly slow production growth. Two US shale companies moved swiftly to cut the pace of drilling and completions, but it is too soon to know if that will have any impact.