Public Capital , Exploration & Production

ConocoPhillips to Revive Shut-in Oil Production in Lower 48

ConocoPhillips, the world's largest independent oil and gas producer, had announced the biggest cuts by any North American producer in April, reducing its output by 460,000 bbl/d by June.

July 1, 2020

Rig Counts

US, Canadian Oil, Gas Rig Count Falls to Record Low Again

The U.S. oil and gas rig count fell by one to an all-time low of 265 in the week to June 26, according to data from Baker Hughes Co. going back to 1940.

June 26, 2020

Rig Counts , Shale Plays

US Rig Count Falls to Record Low for Seventh Week in Row

U.S. oil rigs fell 10 to 189 this week, their lowest since June 2009, while gas rigs dropped by three to 75, their lowest on record according to data from Baker Hughes going back to 1987.

June 19, 2020

Public Capital , People , Unconventional , Shale Plays

Ovintiv Top Exploration Executive Steps Down as Company Trims Workforce

Ovintiv, the oil producer formerly known as Encana, said June 18 it had laid off 25% of its total workforce this month, equally spread across its offices in Calgary, Denver and The Woodlands, Texas.

June 19, 2020

Business , Midstream

Canada’s Enbridge Says 800 Workers Take Voluntary Buyouts

Enbridge Inc., Canada’s largest pipeline operator, said on June 17 that about 800 employees have opted for voluntary buyouts, as the company tries to reduce costs to tackle the COVID-19 crisis and the global oil price shock.

June 18, 2020

Acquisitions & Divestitures , Trends

Energy A&D Transactions from the Week of June 17, 2020

Here’s a snapshot of recent energy deals including an acquisition by Northern Oil and Gas of core Williston Basin acreage operated by WPX Energy plus the sale of ORRI by Antero Resources.

June 17, 2020

People , Exploration & Production

Investing in Upstream’s Future Amid Oil Industry Crisis

Why it’s essential to maintain hands-on training and support to young upstream professionals during a downturn.

June 16, 2020


Canada’s Trans Mountain Pipeline Shut after British Columbia Oil Spill

The Canadian government-owned Trans Mountain pipeline has been shut down since June 13 following an oil spill at a pump station in British Columbia, the pipeline company said.

June 15, 2020

Business , Technology , Acquisitions & Divestitures

‘Sold!’ Auctioneers Race to Unload Oil Equipment as US Drilling Dries Up

Cutbacks by E&Ps have prompted auctions for oilfield equipment from Odessa, Texas, to Alberta, Canada. Even if oil prices remain in the high-$30s, that will not be enough to spur much in the way of additional drilling.

June 12, 2020

Acquisitions & Divestitures , Trends

Energy A&D Transactions from the Week of June 10, 2020

Here’s a snapshot of recent energy deals including the closing of Apergy’s multibillion-dollar merger with Ecolab’s upstream business to form ChampionX.

June 10, 2020