The coronavirus pandemic is reducing oil demand. The OPEC+ production restraint agreement fell apart on 6 March and Saudi Arabia is rapidly increasing supply...

Valaris has announced that the company continues actively working to recover or replace the blowout preventer stack on the VALARIS DS-8 following a non-drilling incident earlier this month...

According to a new assessment of oil markets by IHS Markit, current global output levels cannot be sustained throughout Q2 because oil storage capacity will fill up...

Nabors has announced it is taking several actions in light of current market conditions, which have arisen from the combination of the COVID-19 outbreak and the ongoing dispute between two of the largest oil exporters...

Precision Drilling has provided a series of announcements in response to the COVID-19 pandemic and current market conditions...

Chevron has announced several steps it is taking in response to market conditions...

Shelf Drilling has announced that it has received a notification from customer on early termination of the Trident XIV contract. The contract end date for the jackup rig has been changed from February 2021 to July 2020...

Helmerich & Payne (H&P) has announced it is implementing additional cost controls and re-evaluating its capital allocation to proactively preserve its strong financial position in response to a combination of a weakened commodity price environment, broader uncertainties related to COVID-19 and the resulting high market volatility...

Talos Energy has announced updated full year 2020 financial guidance, inclusive of $170 million of reductions in capital, operating and G&A expenses...

Total and its partners have made an encouraging discovery with the Isabella 30/12d-11 well on the license P1820, located in the Central North Sea offshore UK, about 40 km south of the Elgin-Franklin Field and 170 km east of Aberdeen...