Explorers ensure oil and gas resource availability during the energy transition.
Analysts said the most core projects will move forward, while shorter-cycle developments will see the most dramatic investment cuts.
If Saudi Arabia and Russia ramp up production as promised, the increase could total as much as 700 million barrels per month.
Noble Energy retained EnergyNet for the sale of a package of producing assets located in various Texas counties through an auction closing April 30.
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.
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.
Oil producers need to resume cooperation in an effort to stabilize the global market, Russian and OPEC officials said, as the industry reels from a demand and price collapse caused by the coronavirus pandemic and an emerging price war.
An activist group has withdrawn a shareholder resolution urging BP to adhere to the Paris climate agreement after the oil and gas company agreed to work together on a joint resolution.