Industry Trends ///
The backlog of DUCs in major U.S. shale plays fell for a fourth straight month, the longest stretch of declines since 2016.
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 and Carrizo O&G have approved an agreement where Callon will acquire Carrizo in an all-stock transaction valued at $3.2 billion.
Production on the Norwegian shelf is holding steady at a high level. Many projects are in the development or planning phases.
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.
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.
Stopping the flow of Venezuelan oil to its ally Cuba might prove harder than the U.S. expected.
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 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.
One of the world’s biggest clean energy lenders see a future for European natural gas investments.
Mexico’s moratorium on auctioning off its oil riches to foreign producers is giving a leg up to nearby rivals Brazil and Guyana.
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.
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.
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.
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.”
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.
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 held above $57/bbl as rising tension in the Middle East kept investors wary of potential supply disruptions.
Hedge funds are growing more pessimistic about oil prices as sentiment on the global economy sours.
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.