Oil prices gain on stock build relief
Oil prices rose this morning as US onshore stock builds fell for the first time since January.
Browse the latest us upstream news news and articles.
Oil prices rose this morning as US onshore stock builds fell for the first time since January.
A Rystad Energy analysis shows that gross US cuts could reach at least 2 million bpd in June, including liquids.
The total horizontal oil rig count fell below 270 rigs last week, a 57% decline from the peak of 624 rigs seen in the middle of March 2020.
Continental Resources reported a net loss of US$185.7 million, or US$0.51 per diluted share, for 1Q20.
Kosmos Energy generated a net loss of US$183 million, or US$0.45 per diluted share, in 1Q20.
US production of 616 000 bpd will be shut during May and 655 000 bpd during June as a result of the supply-demand imbalance that the Covid-19 pandemic has created, according to a Rystad Energy analysis.
Hess has reported a net loss of US$2433 million, or US$8.00 per common share, in 1Q20.
Apache reported a loss of US$4.5 billion or US$11.86 per diluted common share during 1Q20.
The company has reported a net loss attributable to Murphy of US$416 million in 1Q20.
Upwing Energy will be recognised for winning the Spotlight on New Technology® Award for its Subsurface Compressor System™ (SCS) at the 2021 Offshore Technology Conference (OTC), due to the cancellation of the event this year.
The transaction includes the transfer of approximately 450 000 net leasehold acres across Pennsylvania, with approximately 350 producing Marcellus and Utica wells in Tioga County and associated facilities.
The sale includes effectively all of Gyrodata’s directional drilling personnel, as well as its high-performance drilling motors and measurement while drilling (MWD) tools.