Shares of Brazilian oil firm Petroleo Brasileiro SA slipped on Thursday after its oil and gas production outlook for next year disappointed analysts, despite ambitious long-term output forecasts in its new five-year strategic plan.
Tullow Oil's stock, which surged on the news from oil discoveries offshore Guyana, shed as much as 22% of its value on Nov. 13.
Companies that fracture wells are cutting workers and idling equipment.
Last year, BHP ended a massive loss-making seven-year foray into shale by selling most of its U.S. onshore shale oil and gas assets to BP for $10.5 billion.
The company said it expects several of its growth projects to be operational in 2019, including the $700-million Gray Oak pipeline.
The company also reported Nov. 6 that oil production grew 12% to 464,100 barrels per day during third-quarter 2019.
Marathon Oil also unveiled a new Delaware Basin oil play with over 60,000 contiguous net acres in Ward and Winkler counties, Texas.
Offshore services provider Subsea 7 cut its 2019 revenue outlook on Nov. 7 but predicted a rebound next year as demand for oilfield services and from renewable energy providers is set to increase, boosting its shares almost 6%.