Business/economics
Proposed and final notices of sale represent nearly 80 million acres in the Gulf of Mexico and approximately 1 million acres in Alaska’s Cook Inlet.
The US and UK sanctioned Russian independent Lukoil International and state-owned Rosneft in a bid to pressure Russia over Ukraine.
Ranger acquires American Well Services for $90.5 million, adding 39 workover rigs and boosting its fleet by 25%.
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US sanctions appear to have prompted a change in ownership. It is unclear how the new arrangement will impact Venezuela’s diminishing ability to export crude oil. -
The five-year contract is worth an estimated $400 and covers more than 200 offshore assets.
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Oil exploration and production jobs globally are at about the level they were after deep cuts following the 2014 crash. Now companies need to find more to cut.
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Shale producers are pulling completions crews out of the field to respond to the recent price crash, but the contraction has only begun.
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The list of companies that are slashing millions and sometimes billions from their annual spending programs is growing longer as the ripple effects of a price war and pandemic spread across the globe.
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The umbilicals will be designed and manufactured at Aker Solutions’ facility in Alabama.
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Several companies have provided updates on their North American LNG projects, including Pembina, LNG Canada, and Sempra. The outlooks vary from plans to move ahead to others seeking money to stay afloat.
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The international major has lowered its output forecast in the world’s most prolific unconventional basin by 20%.
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Gas demand is expected to grow by just 2 Bcm in 2020, down from previous expectations of 6 Bcm. The Netherlands, UK, Germany, and Spain are expected to see the biggest impact.
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As the fallout deepens from the coronavirus pandemic and the global collapse in oil and gas prices, oil- and gas-producing regions around the world are feeling the pain.
