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Sold! Auctioneers Race to Unload Oil Equipment as US Drilling Dries Up

2020-06-12 11:10:00| OGI

Cutbacks by E&Ps have prompted auctions for oilfield equipment from Odessa, Texas, to Alberta, Canada. Even if oil prices remain in the high-$30s, that will not be enough to spur much in the way of additional drilling.

Tags: up equipment sold oil

 

Oil Prices Slump as Coronavirus-related Demand Concerns Resurface

2020-06-11 23:30:00| OGI

Brent crude futures fell $3.18, or 7.6%, to settle at $38.55/bbl. U.S. WTI crude fell $3.26, or 8.2%, to settle at $36.34/bbl. Brent and WTI posted their worst daily drops since April 21 and 27, respectively.

Tags: prices oil demand concerns

 
 

Galvanizing Technology for Crisis Recovery in Oil Sector

2020-06-11 21:30:00| OGI

When the oil and gas industry is faced with a collective crisis, demand for new solutions and ways of working increase as challenges are grappled with. Crisis is the mother of invention, after all.

Tags: technology oil sector recovery

 

Northern Oil and Gas to Acquire Core Williston Acreage Operated by WPX

2020-06-10 23:45:00| OGI

The acquisition, while modest in size, highlights Northern Oil and Gass competitive advantage as an actively managed nonoperator, COO Adam Dirlam says.

Tags: core gas oil northern

 

ConocoPhillips CEO Sees Bumpy Months Ahead For Oil Sector

2020-06-10 22:00:29| OGI

Eyes are focused on demand, refinery utilization, storage and the pace of bringing wells back online, according to ConocoPhillips CEO Ryan Lance.

Tags: months oil sector ahead

 

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