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.
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.
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.
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.
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.
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.
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
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
Rig Counts
Chart: Midcontinent, Permian Basin Rig Count As Of March 27, 2020
Kansas, Oklahoma, Texas Dist. 7B, 7C, 8, 8A, 9, 10
Rig Counts
Chart: Western Rig Count As of March 27, 2020
California, Colorado, Idaho, Montana, Nebraska, Nevada, New Mexico, North Dakota, Utah and Wyoming