North America
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.
Artificial Lift , Well Stimulation
mCloud, nybl Partner to Jointly Optimize First 2,000 Oil Wells in Kuwait, North America
Included in this agreement is cooperation with nybl to deliver a joint solution that will connect and optimize an initial 2,000 oil wells in North America and Kuwait. Cooperation on this solution is now underway.
Investment , Unconventional , Legislation
Renaissance Oil Founder Frustrated by Mexico’s Fracking Ban
Ian Telfer, who in 2014 founded Canadian-based Renaissance Oil, noted that earlier this week the company announced it would begin to diversify away from Mexico's energy sector.
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.
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.
Investment , Trade , Tankers , Storage
API Says Mexico Violating New Trade Deal, Hurting Investors
API said U.S. investors have faced difficulties getting permits in Mexico for fuel stations, storage facilities, imported fuel and terminals.
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.
Drilling
Simmons Edeco Completes First Mexican Drilling Contract for Newpek
Simmons Edeco, a leading supplier of onshore drilling and workover services to the global oil and gas industry, successfully completed its first drilling contract for Mexico oil and gas operator Newpek, a division of Grupo Alfa, a major player in the food, IT, and automotive sectors in Mexico on June 2.