Industry Trends ///

U.S. DUC shale backlog declines, except in Permian basin

The backlog of DUCs in major U.S. shale plays fell for a fourth straight month, the longest stretch of declines since 2016.

Decommissioning in Shetland expands with the arrival of more North Sea structures

The Dales Voe decommissioning facility in Shetland is one step closer to becoming a center of excellence for recycling offshore structures from the North Sea with the arrival of two new installations for decommissioning by strategic partners Veolia and Peterson.

Callon to acquire Carrizo in $3.2-billion stock transaction

Callon and Carrizo O&G have approved an agreement where Callon will acquire Carrizo in an all-stock transaction valued at $3.2 billion.

Norwegian Petroleum Directorate reports high activity in the first six months of the year

Production on the Norwegian shelf is holding steady at a high level. Many projects are in the development or planning phases.

Britain raises Gulf shipping threat to highest level possible

Britain raised the threat level to the highest possible for ships operating in the Persian Gulf as tensions escalate in a region accounting for a third of seaborne petroleum trade.

Saudis pledge to keep doing OPEC's heavy lifting as shale surges

Saudi Arabia is fulfilling its pledge to make deeper cuts in oil output than the OPEC+ agreement on output requires, according to the first indication of the kingdom’s production since the supplier group extended curbs earlier this month.

Vessels sailing under the radar to ship Venezuelan crude to Cuba

Stopping the flow of Venezuelan oil to its ally Cuba might prove harder than the U.S. expected.

OPEC sees new oil surplus in 2020 as U.S. shale surges again

A week after OPEC agreed to keep oil production restrained until early next year, the group’s first forecasts for 2020 showed it faces an even longer and tougher challenge.

Oil rides to seven-week high on Gulf storm, tightening U.S. supply

Oil rode a tide of bullish news to its highest price in almost two months as a potential hurricane roiled the Gulf of Mexico and U.S. crude inventories dropped.

Giant bank sees natural gas plugging gaps in Europe’s energy shift

One of the world’s biggest clean energy lenders see a future for European natural gas investments.

Mexico’s moratorium on oil auctions gives rival Brazil an edge

Mexico’s moratorium on auctioning off its oil riches to foreign producers is giving a leg up to nearby rivals Brazil and Guyana.

DroneDeploy launches single enterprise solution for all drone operations

DroneDeploy, the leading drone software company, announced today a major expansion across its products, making it a single platform for all drone operations. The launch includes automated drone fleet management, enhanced workflow integrations, a low-altitude inspection mode, and advanced analytic capabilities.

Total, IFPEN team up to accelerate carbon reduction R&D

IFP Energies Nouvelles (IFPEN) and Total announce that they signed a strategic R&D partnership yesterday, that includes an agreement to endow a chair at the IFP School, on carbon capture, utilization and storage (CCUS) and technologies to curb CO2 emissions.

Eco-friendly oilfield chemicals pave the way for increased application use

Frost & Sullivan’s latest analysis of the global oilfield chemical market reveals that the development of innovative, advanced oilfield chemicals that have superior performance characteristics and are eco-friendly have paved the way for increased application use, premium prices, and market growth.

Rice brothers lead showdown with U.S. natural gas giant

The nine-month battle for control of America’s largest natural gas producer has come down to a choice: The old guard, or the “shalennials.”

Developer of oil, gas data services takes over operation of frac data sharing system

PDS Energy Information (PDS), a provider of secure data transfer exchange services for oil & gas drilling, completion, and production data, has announced that it has assumed commercial operation of the Frac Interference Exchange (FracX), a reciprocal data sharing network previously developed and operated by one of the largest operators in the Permian basin to coordinate hydraulic fracturing activity among producers.

Wood Mac: Growth in the Permian may spur fresh wave of infrastructure spending

Growing supply of Permian crude means the basin will need extra crude oil takeaway capacity of up to 500,000 bpd by the end of next decade, according to new research from global natural resources consultancy Wood Mackenzie.

Oil holds above $57 as Iran tension stirs concern over supply

Oil held above $57/bbl as rising tension in the Middle East kept investors wary of potential supply disruptions.

Brent crude short-selling rises to five-month high

Hedge funds are growing more pessimistic about oil prices as sentiment on the global economy sours.

Kenya, Tanzania plan to explore natural-gas trading

Kenyan President Uhuru Kenyatta and his Tanzanian counterpart, John Magufuli, agreed to explore trading in natural gas, which companies including Equinor ASA are looking to develop for export.