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Oilfield Service Companies Cut Jobs, Brace for Bankruptcies

2020-04-07 23:30:00| OGI

Eight oilfield service providers, with a total of $10.9 billion in debt, have filed for bankruptcy this year, including three since prices fell to $20 a barrel in early March.

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Category: Industrial Goods and Services

Shale Producer Continental Resources Suspends Dividend

2020-04-07 23:00:00| OGI

With global oil demand estimated to have been impacted by 30% due to COVID-19, Continental Resources will continue to take decisive action to maximize cash flow generation, CEO Bill Berry says.

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Category: Industrial Goods and Services

SandRidge Energy Names Carl Giesler CEO Amid Cost-saving Initiatives

2020-04-07 22:30:00| OGI

Carl Giesler led the cost and operational turnaround of  Jones Energy, which led to the $201.5 million all-cash buyout of the Midcontinent-focused E&P company in January.

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Category: Industrial Goods and Services

Nexans Leadership to Take Voluntary Pay Cut

2020-04-07 21:03:59| OGI

Nexans CEO, members of the board of directors and management have agreed to take pay cuts as a sign of solidarity and for social cohesion, the company said on April 7.

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Category: Industrial Goods and Services

Oil Price Plunge, Coronavirus Spur Tax Relief for Wyoming Producers

2020-04-07 21:00:00| OGI

Wyoming governor recently signed a bill to help oil and gas producers reduce severance and conservation taxes.

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Category: Industrial Goods and Services

Marketed: Permian Basin Package, Pecos and Ward Counties, Texas

2020-04-07 19:00:00| OGI

Brookdale Land Co. LLC retained EnergyNet for the sale of Permian Basin assets located in Pecos and Ward counties, Texas, through an auction closing April 23.

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Category: Industrial Goods and Services

Exxon Mobil Could Delay Third Guyana Project Amid Low Prices, Spending Cuts

2020-04-07 18:17:28| OGI

Payaras startup had been slated for as early as 2023 and was expected to eventually produce some 220,000 barrels per day (bbl/d) of crude, according to Exxons website.

Tags: low project prices mobil

Category: Industrial Goods and Services

Where Will the Excess Glut of US Oil Go?

2020-04-07 18:00:00| OGI

Excess supply has sparked a fresh dilemma among U.S. drillers, which are being asked to cut oil production as storage space fills up.

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Category: Industrial Goods and Services

Trump: OPEC Hasnt Asked for US Production Cut

2020-04-07 15:43:20| OGI

Sources tell Reuters that without US participation, Saudi Arabia and Russia wont reduce their output.

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Category: Industrial Goods and Services

TechnipFMC Confirms Trion Pre-FEED Work for Genesis Subsidiary

2020-04-07 15:31:37| OGI

Genesis has been awarded a pre-FEED contract from BHP for preliminary design of a semisubmersible FPU for the Trion development in the Mexican waters of the Gulf of Mexico on April 7.

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Category: Industrial Goods and Services

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