The Latest

Rig Counts

US Oil Rig Count Plummets Amid Cutbacks

Drillers cut 40 oil rigs in the week to March 27, bringing down the total count to 624, the lowest since March 2017, energy services firm Baker Hughes Co. said in its weekly report.

March 27, 2020

Highlights

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.

March 27, 2020

Business

Cairn Energy Reduces Senegal, UK Spending Plans

Oil and gas producer Cairn Energy on March 27 reduced investment plans by about a fifth, following the fall of oil prices to less than $30 per barrel.

March 27, 2020

Business

Aker BP Eyes Layoffs Amid Oil Price Crash, Coronavirus

Aker BP, 30% owned by BP, said on March 23 it would cut its planned 2020 capital spending by 20% but kept its production guidance unchanged.

March 27, 2020

Investment

Australia’s Woodside Slashes $2 Billion in Spending, Delays Key Gas Projects

Woodside Petroleum halved its forecast spending for 2020 and deferred go-ahead decisions for its two biggest gas projects to ride out the pain of the coronavirus pandemic and plunging oil prices.

March 27, 2020

Exploration & Production

Searcher Seismic Study to Assist Offshore Timor-Leste Bid Round

Searcher reached a marketing and sales agreement with Timor-Leste’s Petroleum Authority, Autoridade Nacional Do Petroleo E Minerals (ANPM) on March 25 for its Offshore Timor-Leste data and study package.

March 27, 2020

Rig Counts

Chart: Eastern Rig Count As Of March 27, 2020

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

March 27, 2020

Rig Counts

Chart: Gulf Coast Rig Count As Of March 27, 2020

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

March 27, 2020

Rig Counts

Chart: Midcontinent, Permian Basin Rig Count As Of March 27, 2020

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

March 27, 2020

Rig Counts

Chart: Western Rig Count As of March 27, 2020

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

March 27, 2020