Near-record Oil Stockpiles at US Gulf Coast Pressure Prices of Domestic Grades
Mars Sour, the benchmark for sour U.S. Gulf Coast grades, was trading at a $1.05 premium to U.S. crude futures on July 1.
2020 Shale Technology Showcase
In this special section, E&P highlights the latest technologies from more than 30 companies, showcasing how these tools are used for developing shale resources and how companies will benefit from the application of these advanced tools on their operations.
Rosehill Resources to Join Growing Number of E&P Bankruptcies
“After exploring all strategic and financial options available to Rosehill,” CEO David French said the company agreed to a restructuring plan with its major creditors, which includes filing for Chapter 11 bankruptcy, .
Exxon Mobil Signals Second Quarterly Loss in a Row
Exxon Mobil last quarter cut oil production by up to 400,000 bbl/d and capex by 30%, much of it in its shale business.
E&P Bankruptcies Move in ‘Very Hairy’ Direction
Court rulings over disputes with midstream operators are no longer easy to predict.
Venezuela’s Oil Exports Sank in June to 77-year Low
The fall in oil exports has starved the socialist government of President Nicolas Maduro of its main source of revenue, contributing to an economic collapse.
US Oil, Gas Rig Count Hits Record Low for 9th Week
The U.S. oil and gas rig count fell by two to an all-time low of 263 in the week to July 2, according to data from Baker Hughes Co.
Marketed: Blackbeard Operating South Texas Regional Exit
Blackbeard Operating retained TenOaks Energy Advisors as its exclusive adviser in connection with the sale of its operated properties in South Texas as part of a regional exit.
Best of This Week’s Drilling Activity Highlights (July 2, 2020)
Powder River Basin Niobrara Shale well completed by EOG Resources in Wyoming’s Converse County plus LLOG Exploration’s results from a U.S. Gulf of Mexico discovery top this week’s drilling activity highlights from around the world.
E&P Last Word: DUCs and Shut-ins—Cost Savings Today, Low Performance Tomorrow?
A study looks at the impact of DUCs and shut-in wells on future rates of production.
New Trade Deal Launches Under Cloud of Disputes, Coronavirus
Tariffs against Canada and labor issues in Mexico raise concerns about USMCA.
Exxon Mobil, Princeton Energy Center Renew Collaboration to Advance Low-carbon Energy Solutions
Exxon Mobil and Princeton University’s Andlinger Center for Energy and the Environment have renewed their collaboration to research lower-emission technologies and energy solutions, the company said on July 2.