Noble said it will curtail 5,000 bbl/d to 10,000 bbl/d in May and 30,000 bbl/d to 40,000 bbl/d in June from the company’s U.S. onshore assets.
The move means shuttering its legacy headquarters office in El Dorado, Ark., where Murphy Oil was formed by its namesake in 1944.
EOG currently plans to bring about 485 net wells on to production for 2020 compared with the original forecast of 800 net wells, with a focus on the Delaware Basin in the Permian and South Texas Eagle Ford.
The company said that in 2020 about 80% of its production is hedged with put options for 130,000 barrels per day at $55 per barrel West Texas intermediate (WTI) crude, and 20,000 barrels per day at $60 per barrel Brent.
Apache Corp. has evaluated its wells and is taking a "targeted approach" to shut-ins and curtailing output, CEO John Christmann said.
Marathon Oil Corp. and Pioneer Natural Resources Co. on May 6 detailed new plans to cut costs, as the U.S. oil producers seek ways to overcome a slump in crude prices.
Both Occidental Petroleum and Devon Energy also announced plans on May 5 to deepen cuts for the third time since March in response to the historic crash of oil prices.
Diamondback Energy and Parsley Energy topped Wall Street profit estimates on May 4 and said they plan to cut expected oil output this month as the shale producers battle an unprecedented slump.
Oceaneering International Inc. said May 4 that, consistent with its commitment to cost reductions during the ongoing public health and energy market crises, its board of directors has approved voluntary base salary reductions of the executive management team and other members of senior management, effective as of May 1, 2020.