Like life, the energy industry’s digital transformation is moving pretty fast.
The U.S. rig count, an early indicator of future output, fell by 21 to a record low 318 in the week to May 22, according to data from energy services firm Baker Hughes Co.
Before the coronavirus pandemic and the oil price war, public investors had already thrown down the gauntlet to E&Ps. Companies, arguably, were learning to adapt, and they must keep doing so to access public capital in the new environment.
Merit Management Partners IV LP retained EnergyNet for the sale of a 190-well package across Oklahoma's Dewey, Ellis, Roger Mills and Woodward counties through an auction closing June 10.
Excess crude inventories are easing, with refined fuel stocks taking longer as consumption lags.
U.S. tight rock oil production exceeded 9 million barrels per day in March, according to the U.S. Energy Information Administration. The story began 20 years ago in Richland County, Mont., with a prospector, two wildcatters, Halliburton and a bold venture: land a lateral in the middle Bakken—and frac it.
The offshore development is in China's Bohai Bay and is expected to reach peak production of 15,681 bbl/d of crude oil in 2022.
BP and Exxon Mobil produce massive amounts of oil in Alaska and have discovered huge gas resources that are stranded in the North Slope, which the proposed LNG project would allow that gas to access markets around the world.
A record Wolfcamp Shale producer completed by EOG Resources in the Permian Basin plus two Haynesville Shale completions in Louisiana’s Bossier Parish top this week’s drilling activity highlights from around the world.
In conjunction with the retirement of CFO Don E. Wallette Jr., ConocoPhillips also said William (Bill) L. Bullock Jr. had been named as Wallette’s replacement.
Kayne Anderson will consolidate its two energy private equity teams and one of the managing partners, Chuck Yates, will exit the firm, a source familiar with the matter told Reuters.
The U.S. Bureau of Land Management (BLM) approved royalty rate cuts on at least 76 federal drilling leases in the state of Utah in recent weeks, according to the database.