Canada
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.
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.
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.
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.
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.
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.
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.
Pipelines
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.
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.
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.