Halliburton to reduce 2020 spending
The company will significantly reduce spending this year below its original US$1.2 billion budget.
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The company will significantly reduce spending this year below its original US$1.2 billion budget.
The oilfield services company is anticipating a rapid reduction in active drilling and hydraulic fracturing activity.
The Maersk Venturer drillship has been working for Tullow offshore Ghana.
US onshore drilling and completion activities are being halted by Equinor.
The two affected sites are the Heather and Thistle/Deveron fields.
i3 Energy will utilise either the Borgland Dolphin or Blackford Dolphin semi-submersible drilling rig for a minimum 82-day programme.
The reductions to the company’s 2020 capital budget will be primarily achieved by shifting from a six rig programme to one rig in the Bakken, which is expected to be completed by the end of May.
Drilling activities at the SH-13 well have been suspended due to Covid-19.
Well 35/10-5 will be drilled from the West Hercules drilling facility.
A Rystad Energy impact analysis shows that US drilled but uncompleted wells will be the first assets to be threatened by the newly formed low price environment, as their breakeven costs are now only dollars away from market prices.
The company anticipates West Barracouta gas flowing to the Australian domestic gas market by early 2021.
Logan will provide turn-around upgrade and repairs to a fleet of wireline tensioners onboard five active drilling and completion vessels.