The Latest

Rig Counts

US, Canadian Rig Counts Fall to Record Low

The U.S. oil and gas rig count, an early indicator of future output, fell by 17 to an all-time low of 301 in the week to May 29, according to data from energy services firm Baker Hughes Co. going back to 1940.

May 29, 2020

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.

May 29, 2020

Reservoir Evaluation

Aker BP Contracts Optime’s New Remote Tubing Hanger Technology

Aker BP will be the first user of the new technology Optime Subsea has developed that removes umbilical controlled tubing hanger operations, the company said on May 29.

May 29, 2020

Exploration & Production

OPEC Delivers Three-quarters of Record Oil Cut in May

On average, the 13-member OPEC pumped 24.77 million barrels per day (MMbbl/d) this month, the survey found, down 5.91 MMbbl/d from April’s revised figure.

May 29, 2020

Business

Total Needs to Cover $12 Billion Shortfall due to Crisis, CEO Says

Total had expected the oil price to be about $60 per barrel this year, but as the price is now about $30, it will leave the company with a much bigger shortfall, CEO Patrick Pouyanne said.

May 29, 2020

Rig Counts

Chart: Eastern Rig Count As Of May 29, 2020

Alabama. Florida, Illinois, Indiana, Kentucky, Michigan, New York, Ohio, Pennsylvania, Virginia and West Virginia

May 29, 2020

Rig Counts

Chart: Gulf Coast Rig Count As Of May 29, 2020

Arkansas, Louisiana, Mississippi and Texas RRC Dist. 1, 2, 3, 4., 5, 6, inland, offshore

May 29, 2020

Rig Counts

Chart: Midcontinent, Permian Basin Rig Count As Of May 29, 2020

Kansas, Oklahoma, Texas Dist. 7B, 7C, 8, 8A, 9, 10

May 29, 2020

Rig Counts

Chart: Western Rig Count As of May 29, 2020

California, Colorado, Idaho, Montana, Nebraska, Nevada, New Mexico, North Dakota, Utah and Wyoming

May 29, 2020

Exploration & Production

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.

May 28, 2020