Royal Dutch Shell will cut $15 billion of investment over the next three years as the crash in oil prices saw fourth-quarter profit miss forecasts.
Maersk Drilling has taken delivery of its third ultra-harsh environment jackup, XLE-3, from the Keppel FELS shipyard in Singapore ahead of schedule.
Cenovus Energy is further reducing its 2015 capital spending in order to preserve cash and maintain the strength of its balance sheet.
ConocoPhillips, the third-largest U.S. energy producer, reported a fourth-quarter loss as new output failed to make up for the worst oil-price crash since 2009.
Total has signed a new 40-year onshore concession agreement that covers the fifteen principal onshore oil fields of Abu Dhabi and represents more than half of the Emirate’s production.
Oil prices will recover as early as the first half of this year as producers cut back, Continental Resources Inc. founder and CEO Harold Hamm said Wednesday.
Injection pressures of proppant-laden slurry and proppant-free spacer, using a pulsing approach, were found to be significantly lower than those applied with conventional hydraulic fracturing treatments.
Often a regulatory requirement, contingency plans for an accidental subsea release or blowout require advanced engineering analysis to understand the potential magnitude and consequences, and the use of a containment system.
As the offshore drilling industry continues to move into more challenging environments, well control is becoming increasingly critical.
The year 2014 has been a period of not only great profitability for the global upstream industry but also a time of considerable volatility.
Numbers help to explain Saudi mindset on global production
Don’t turn off the lights; the party ain’t over!
U.S. Natural Gas (Henry Hub): $2.886West Texas Intermediate: $44.55Brent Blend: $48.83
U.S.: 9.057 MMbpd (November 2014)
World: 91.76 MMbpd (November 2014)
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Over the last two years, we’ve seen a marked increase in the number of gas divestments taking place in Canada’s oil and gas sector.
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