Business/economics
The firm’s latest analysis puts the bulk of the blame on a fragmented supply chain.
The supermajor said the fields are not expected to contribute meaningfully to its production profile by 2030.
Output is rising fast in the South American shale play and putting Argentina on a course to soon reach 1 million B/D.
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Seadrill is seeking options to restructure its $7.3-billion debt. The offshore driller previously emerged from Chapter 11 bankruptcy protection in 2018. -
A former chief operating officer at Exterran Corp. will take the helm of the Houston-based oilfield services company in October.
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Although OFS employment is at its lowest point since March 2017, job losses slowed in August as companies start to recover.
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Enterprise Products Partners publicly acknowledged the deep slump in pipeline demand out of the Permian Basin by canceling a project at a time when most producers have been quietly postponing US projects.
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Facing a minimum 1-year delay to startup, Husky Energy discussed the West White Rose extension project’s challenges and risks with Canadian local and federal governments. Cancellation is a possibility, according to a Husky executive.
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The acquisition and divesture deal includes large-interest positions in nine offshore exploration blocks, several of which Shell may become the operator of.
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The latest updates on the North American shale sector’s efforts to consolidate and restructure.
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Company cites COVID-19-driven decline in fuel demand in move following announcement of Australian layoff plan as latest cost-cutting measure.
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In the first half of 2020, Canada’s production declined 20% from its 2019 average of 5.5 million B/D as a result of low crude oil prices, reduced demand, and continued production curtailments imposed by the government of Alberta.
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A US Supreme Court decision recognizing about half of Oklahoma as Native American reservation land has implications for oil and gas development and raises regulatory and tax questions that could take years to settle.
