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Tag: oil
Patterson-UTI Sees 60% Decline in Activity as Oil Prices Crater
2020-04-24 15:03:03| OGI
Oilfield service firm Patterson-UTI Energy Inc. on April 23 warned investors it would see a 60% decline in activity this year as shale companies slash spending and halt activity amid an unprecedented decline in oil prices.
Tags: prices
activity
oil
decline
Norway Aims For New Oil Licensing Round After Arctic Plan Approval
2020-04-24 14:57:17| OGI
The government proposed earlier April 24 an updated plan setting a new so-called ice edge, setting new limits for oil exploration in its Arctic waters.
Tech Spotlight: Optimizing Reliability of Oil Facility Equipment
2020-04-23 22:00:00| OGI
Implementation of condition-based maintenance strategies provided increased reliability compared to frequency-based preventative maintenance of mission-critical rotary equipment in oil and gas facilities.
Tags: equipment
tech
oil
facility
Oil Prices Rally on Acceleration of Production Cuts from OPEC Nations
2020-04-23 20:45:00| OGI
Oil prices soared on April 23, extending its rebound after major oil-producing nations said they would accelerate planned production cuts to combat the dramatic slump in demand.
Tags: prices
production
oil
nations
Tullow Oil Exits Uganda Project in $575 Million Sale to Total
2020-04-23 20:30:00| OGI
Total agreed to buy Tullows roughly 33.3% stake in the Uganda Lake Albert development project including the East African Crude Oil Pipeline for $575 million in cash.
Tags: total
sale
project
million
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