Larry
Prado
HartEnergy.com
Latest News
1 hour ago
US, Canadian Rig Counts Fall to Record Low
Highlights
Best of This Week’s Drilling Activity Highlights (May 29, 2020)
Exxon Mobil’s latest find offshore Guyana and three extended-reach, horizontal producers completed by Gulfport Energy from a Grady County pad in Oklahoma top this week’s drilling activity highlights from around the world.
Subscribe now and get unmatched coverage of the energy industry.
Subscribe
More Top Stories
Latest in Video
See All Videos
Trending Stories
MarketsSee More
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.
Demand Rise, Output Cuts Could Mean Oil Market Balance in June
Analysts, banks cite a return to traffic congestion around the world.
Oil and Gas Investor At Closing: Looking for the ‘V-shape’
We have to bet on pent-up demand. The recovery appears to be ‘V-shaped’ in most markets. We hope to see that in the energy world as well.
BusinessSee More
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.
Basic Energy Services Consolidates US Lower 48 Operations
Similar to its peers in the service sector, Basic Energy Services has made moves over the past several months to protect its balance sheet as oil and gas operators slam the brakes on activity.
Occidental Petroleum Sued by Investors over Anadarko Merger
Occidental Petroleum has been sued by investors who claim they suffered billions of dollars of losses because the heavily indebted company concealed its inability to weather plunging oil prices.
Exxon Mobil Shareholders Reject Splitting Chairman, CEO Roles
Under CEO Darren Woods, Exxon Mobil blocked six climate resolutions from this year's ballot, encouraging activists to seek the split.
TechnologySee More
Oil Industry Faces IT Challenges Amid the ‘New Normal’
Industry experts discuss how the downturn and pandemic are impacting IT and OT for the oil and gas sector.
PGS Completes East Shetlands Basin Survey
PGS has successfully completed the acquisition of its East Shetland Basin 2020 survey and the first results will be available in August, the company said on May 27.
Petrofac Secures Iraq Contract Extension with Basra Oil Company
Petrofac’s engineering and production services division (EPS) has secured a further six-month contract extension with Basra Oil Company (BOC) for its long-standing Iraq crude oil export expansion project (ICOEEP) on May 28.
Acteon Appoints Carl Trowell as New CEO
Acteon Group Ltd., a leading global provider of marine and seabed services to the renewable, infrastructure and oil and gas industries, said May 27 that Dr. Carl Trowell is to be appointed as group CEO, succeeding Richard Higham.
Exploration & ProductionSee More
E&P June Edition: From the Editors
Hear about featured stories in this issue of E&P straight from the editors. Play the video below.
US Energy Department Continues Efforts to Help Oil Companies
Companies of all sizes have been coping with lower oil prices caused by a supply-demand imbalance fueled by the global COVID-19 pandemic.
Looking for Economic Intervals in the Permian Basin?
Experts say electrofacies could prove beneficial for oil companies considering vertically unbounded wells in the Permian Basin.
Oil, Gas Explorers Face Murky Future after Oil Price Crash
Some companies are deferring or canceling plans for wells amid the latest oil price crash, while gearing up for potential change due to a shift toward cleaner forms of energy.
TransactionsSee More
A&D Trends: Climate for Oil Deals at Historic Low
Negative oil futures aren’t the only drag on deals. History, replete with examples of how to deal with bad times, is being made right now.
Marketed: EnerVest Nonop Nora Field Natural Gas Opportunity
EnerVest Energy Institutional Fund XIV-1A LP has retained Detring Energy Advisors to market for sale a 15% nonoperated position in its Nora Field assets located in Virginia and West Virginia.
Energy A&D Transactions from the Week of May 27, 2020
Here’s a snapshot of recent energy deals including the closing of EQT’s $125 million asset sale in Appalachia to Diversified Gas & Oil.
Marketed: Permian Basin Royalties Operated by Diamondback Energy Affiliate
US Mineral Exchange has been retained for the sale of Permian Basin royalties in Reeves County, Texas, operated by an affiliate of Diamondback Energy Inc.
Policy & RegulationsSee More
Survey: Energy Transition to Remain Priority for Oil Industry Leaders
A recent survey revealed the energy transition will likely be immune to COVID-19 as 92% of oil and gas executives reported already having or developing a strategy to reduce reliance on fossil fuels.
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.
Russian Minister, Oil Majors Reported to Discuss Output Cut Extension
The meeting is seen as support for stabilizing oil markets.
Trump Policy Favoring Drilling over Sage Grouse Protection Thrown Out
The order was the latest legal blow to U.S. President Donald Trump's effort to increase oil and gas production on federal lands by rolling back environmental regulation.
MidstreamSee More
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.
Senators Weigh Additional Sanctions on Russia’s Nord Stream 2
Shaheen, Cruz consider broadening the scope of their sanctions legislation.
Blackstone’s EagleClaw Midstream Sues Caprock over Troubled Deal
EagleClaw in 2018 acquired natural gas pipeline operator Caprock Midstream Holdings from Energy Spectrum Capital and Caprock Midstream Management for $950 million.
TC Energy Completes Multibillion-dollar Sale of Pipeline Stake
Private equity firm KKR & Co. Inc. said in December that it and Alberta Investment Management Corp. would jointly buy the 65% Coastal GasLink stake from TC Energy.
