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eFrac Co-founder Nick Anderson Joins INET as CFO
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MarketsSee More
Kremlin: Putin, Trump Discussed G-7, Oil Markets in Call
Leaders talked about OPEC+ actions on production cuts.
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.
BusinessSee More
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
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
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.
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
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.
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 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
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
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.
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.
