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From OGI Editor-in-Chief: Emergency Response to “OPEC-aggedon”
When the three-year Saudi Arabia-Russia production-cut marriage known as OPEC+ ended acrimoniously on March 6, the oil and gas world as we know it ended. For now.
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MarketsSee More
Frac Spread: NGL Prices Rise, but Outlook Joyless
The gloomy forecast will falter if COVID-19 passes quickly and the global economy recovers its appetite for hydrocarbons.
OPEC+ Debates Biggest Ever Cut as Virus Destroys Oil Demand
International producers are seeking cuts from US shale producers as well.
US to Lease Space for Initial 30 Million Barrels in Emergency Oil Reserve
The Trump administration said April 2 it plans to lease space in the country's emergency petroleum reserve for an initial 30 million barrels of oil in a bid to help struggling crude drillers.
Texas Regulator Aims to Wrangle Oil Cuts from Saudis, Russia
A Texas oil and gas regulator on April 2 said he talked with Russian Energy Minister Alexander Novak about the possibility of both Russian and Texan producers' trimming production.
BusinessSee More
Banks Contend with Deep Impact Post Oil Crash on E&P Borrowing
Both the COVID-19 pandemic and the oil price crash have had a deep impact on what E&Ps and their lenders expect compared to what they thought last fall, according to a Haynes and Boone report.
Report: Oilfield Service Spending to Fall 21% as Producers Slash Costs
Oilfield segments with the greatest share of North American revenue will see the biggest hits, with hydraulic fracturing spending down 44% from last year and land contract drilling down 29%.
Texas Oil Industry Launches Alliance to Tackle Flaring, Emissions
Known as the Texas Methane and Flaring Coalition, the new group will collectively identify and promote operational and environmental recommended practices to minimize flaring and methane emissions.
Shell Expects Up to $800 Million Write-down after Oil Crash
Shell said it expects “significant uncertainty” over oil and gas prices and demand as consumption falls due to COVID-19 lockdowns across the globe.
TechnologySee More
Tech Investments Ramp Up as Remote Work Heightens Cybersecurity Risks
An unprecedented shift to remote work has forced U.S. businesses to rethink organizational policy and security measures in response to the COVID-19 outbreak.
Prescient Adopts Blockchain Network for Marine, Energy Insurance Program
With GumboNet, Prescient will enhance its insurance offerings with the cost savings and truth immutability inherent in blockchain transactions.
T.D. Williamson Introduces New Double Block, Bleed Isolation Tool
The ProStopp DS isolation tool achieves a double block and bleed isolation utilizing two plugging heads with a bleed port in between.
Schlumberger Cuts Executive Salaries, Reduces Workforce Amid Oil Price Crash
Oilfield services provider Schlumberger on March 31 said it will implement widespread salary and job cuts as it grapples with a sharp decline in revenue from the oil price collapse.
Exploration & ProductionSee More
Navigating Low Oil: Proactive Actions for E&Ps
Although the industry learned a lot during the last downcycle, oil and gas companies won’t have the same access to capital in the latest slump and will likely only be able to invest the cash they generate.
Best of This Week’s Drilling Activity Highlights (March 27, 2020)
A high-volume Wolfcamp producer by EOG in Loving County, Texas, and results from a Utica Shale well test in Ohio top this week’s drilling activity highlights from around the world.
E&P Market Intelligence: Stimulation Fleet of the Future
Reduced emissions and lower operating costs are objectives for the stimulation fleet of the future.
E&P Momentum: Frac Hit Vexation
A review of frac hits on legacy well production produces unexpected results in the southern Midland Basin.
TransactionsSee More
Oil and Gas Dealmaking Outlook: M&A Gone Mild
In a market environment where buyers and sellers are at odds over price and the public market is openly hostile to deals, E&P shoppers may sit out an uncertain 2020.
Marketed: HVI Cat Canyon California Oil Properties
HVI Cat Canyon Inc. (HVICC) retained TenOaks Energy Advisors for the sale certain conventional oil properties located in the North Belridge Field of California's San Joaquin Valley.
Enbridge Sells Ozark Natural Gas System to Black Bear
Enbridge sold a natural gas pipeline transportation and gathering system in the southeastern U.S., according to Black Bear Transmission, which said it had acquired the assets for an undisclosed amount.
Energy A&D Transactions from the Week of April 1, 2020
Here’s a snapshot of energy deals from the past week including the sale of Ovinitv properties in the Williston Basin plus a $100 million dropdown of a gathering system in the Permian Basin.
Policy & RegulationsSee More
From OGI Editor-in-Chief: Emergency Response to “OPEC-aggedon”
When the three-year Saudi Arabia-Russia production-cut marriage known as OPEC+ ended acrimoniously on March 6, the oil and gas world as we know it ended. For now.
Official: Trump Does Not Plan to Ask Oil Producers for Coordinated Cuts
Administration awaits details of output reductions from Saudi Arabia and Russia.
Report: US Aims to Lease Space in Emergency Oil Stockpile After Buying Plan Canceled
Revised plan would help traders during crisis.
Oil Pipeline, Producer Standoff Prompts New Call for Texas Shale Curbs
Texas Railroad Commission, the state's energy regulator, will weigh a mandated cut at its next scheduled meeting, said Ryan Sitton, the commissioner who first floated 10% cuts two weeks ago.
MidstreamSee More
Women in Energy: Emily Baker, Lotus Midstream
Today’s featured 25 Influential Women in Energy honoree is Emily Baker, chief commercial officer and founding partner of Lotus Midstream based in Sugar Land, Texas.
Pipelines Take on Their Biggest Enemy
The impetus for iPIPES, an industry-wide partnership focused on developing new technologies to prevent and detect pipeline leaks, was the dramatic growth created by the “Bakken boom,” program manager Jay Almlie says.
Shell Exits Lake Charles LNG Project; Energy Transfer Takes Over as Developer
Shell cites market conditions as its reason for withdrawing; Energy Transfer weighs options, including recruiting another equity partner or reducing the size of the project.
Column: Global Oil Storage to Fill Rapidly as Consumption Plunges
If Saudi Arabia and Russia ramp up production as promised, the increase could total as much as 700 million barrels per month.
