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Buddy Clark Executive Q&A: Chapter 2020

Restructurings

Buddy Clark Executive Q&A: Chapter 2020

Energy banking in a pandemic that has diminished global oil and gas demand by at least 25%? A 38-year energy finance attorney and author of a history of oil and gas finance describes what the space looks like today.

The Midstream 50: Consolidation Rattles the Rankings

Public Capital

The Midstream 50: Consolidation Rattles the Rankings

The long-running contraction in the number of midstream players accelerated in 2019.

E&P Offshore Advances: Upstream Industry Joins COVID-19 Fight

Business

E&P Offshore Advances: Upstream Industry Joins COVID-19 Fight

An offshore service provider develops a testing facility for homeless communities.

MarketsSee More

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Kremlin: Putin, Trump Discussed G-7, Oil Markets in Call

Leaders talked about OPEC+ actions on production cuts.

oilcuts

Kremlin: Putin, Saudi Crown Prince Agree Further Coordination on Oil Output Cuts

Online OPEC+ conference will discuss production reduction in mid-June.

LNG Exports Drop 41%

Cargoes have been canceled as the pandemic cuts into demand worldwide.

traffic

Demand Rise, Output Cuts Could Mean Oil Market Balance in June

Analysts, banks cite a return to traffic congestion around the world.

BusinessSee More

E&P Stocks to Watch: Looking for Gain, Not Pain

E&P Stocks to Watch: Looking for Gain, Not Pain

A year from now, which E&P stocks will oil and gas investors wish they’d bought in 2020’s summer doldrums?

Long-serving Exxon Mobil Upstream Executive Steve Greenlee to Retire

In conjunction with Greenlee’s retirement, Linda DuCharme was appointed as his successor while also retaining her current position as president of ExxonMobil Upstream Integrated Solutions Co.

Hedge Fund Angelo Gordon Reportedly Raising $1.5 Billion for Distressed Energy Debt

Hedge fund Angelo Gordon & Co. LP aims to raise as much as $1.5 billion to buy the debt of distressed oil and gas companies, according to a person familiar with the matter.

In Memoriam: Oil Industry Legend David L. Bole

Throughout his 50-year career in the oil and gas industry, David L. Bole was best known as a tireless networker and business builder.

TechnologySee More

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Investing in Energy’s Digital Future Will Deliver Long-Term Returns

Developing a strategic road map for the digital transformation awards significant value for energy companies.

NOW Inc. Appoints David Cherechinsky as CEO

NOW Inc. said that its board of directors, on June 1, has appointed David (Dave) Cherechinsky to lead the company as full-time CEO, effective immediately.

Halliburton Launches Real-Time Wireless Depth Correlation System

The DynaTrac system takes static measurements to determine the position of the bottomhole assembly before and after setting the retrievable packer.

US Treasury Unveils Rules for Carbon Capture Tax Credits

The U.S. Treasury Department has released rules guiding how companies use a federal tax credit designed to spur investment in carbon capture and sequestration projects.

Exploration & ProductionSee More

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US Shale Producers Begin Restoring Output as Oil Prices Turn Higher

Parsley Energy plans to restore all of the 26,000 bbl/d it cut earlier this year and an EOG Resources executive told investors it would reopen shuttered wells and add new ones in the second half of the year.

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Patterson-UTI Looks to Future by Growing Technology Focus

Patterson-UTI is counting on its balance sheet to get it through tough times and its technology to push toward potential market share gains.

Colorado School of Mines Researchers Unveil Reservoir Characterization Study Results

Colorado School of Mines Researchers Unveil Reservoir Characterization Study Results

Research from this year’s Colorado School of Mines’ Reservoir Characterization Program includes a field project in the Eagle Ford Shale conducted in Gonzales County, Texas.

Burning Tree State Pumpjack

Born in the Bakken

U.S. tight rock oil production exceeded 9 million barrels per day in March, according to the U.S. Energy Information Administration. The story began 20 years ago in Richland County, Mont., with a prospector, two wildcatters, Halliburton and a bold venture: land a lateral in the middle Bakken—and frac it.

TransactionsSee More

PATH FORWARD: Jefferies’ Bill Marko On Demand Destruction, ‘Slow Awakening’

PATH FORWARD: Jefferies’ Bill Marko Talks A&D’s ‘Slow Awakening,’ Big Changes for US Shale

Bill Marko, managing director at Jefferies, says he sees permanent changes to the U.S. shale business resulting from the destruction to oil demand over the past several months.

Trump Administration Shelves More Oil Lease Sales

The BLM, the arm of the Interior Department that oversees lease sales, postponed a sale of seven oil and gas leases on more than 10,000 acres in Nevada that had been scheduled for June 9.

Marketed: EnerVest 593-well Package, Leasehold Across North Texas

EnergyNet has been retained by EnerVest Energy Institutional Co-Investment XII-1A LP to offer for sale a 593-well package and leasehold acreage in North Texas through an auction closing June 10.

ConocoPhillips Completes $1.39 Billion Sale of Northern Australian Business

ConocoPhillips had previously announced the sale of its Australia-West assets and operations to partner Santos in October 2019.

Policy & RegulationsSee More

Permian Basin Gas Pollution Halves in Upside of Oil Crash

Permian Basin Gas Pollution Halves in Upside of Oil Crash

Fall in crude oil demand leads to temporary environmental respite as flaring declines in the prolific Permian Basin.

Investors, Scientists Urge IEA Head to Take Bolder Climate Stance

Groups want the organization to align its June report with Paris accord goal.

Norway Plans $369 Million Green Industry Investments

The Norwegian government proposes spending 3.6 billion Norwegian crowns (US$369 million) on investments to make its economy greener as it gradually emerges from coronavirus lockdowns, the government said on May 29.

Chevron Shareholders Approve Push for More Transparency on Climate Lobbying

Chevron shareholders on May 27 voted to approve a proposal demanding that the company issue a report on its climate change related lobbying activities.

MidstreamSee More

Midstream Projects: Cloudy, with a Chance of Free Falls

Midstream Projects: Cloudy, with a Chance of Free Falls

The March market meltdown may have unnerved some oil and gas investors, but plenty of midstream projects either opened or moved forward.

Analysts: Keystone XL Court Ruling Another Blow to Big Pipelines

Atlantic Coast and Mountain Valley will likely be delayed for several more months.

Pipeline Operator Energy Transfer Warns of Coming Job Cuts

Marshall McCrea, chief commercial officer for Dallas-based Energy Transfer, said in a recorded message to employees the cuts would begin June 1 and affect about 6% of the company's staff.

saudi

COLUMN: US Crude Stocks Swell as Saudi Tankers Unload

If the increase is a one-off, it won’t affect a market that is quickly rebalancing.