Denbury said it expects estimated full-year 2020 oil and gas production to go down by approximately 3,000 boe/d from the 54,000 boe/d midpoint of its initial 2020 production estimates, with roughly half of that drop coming from a reduction in spending.

Despite its plans to lower capital spend from $520 million to $430 million, the company still sees the potential for meaningful improvements in natural gas and NGL pricing as US shale goes through significant investment reductions.

The massive North Sea offshore development is expected to reach plateau production in early May, ahead of its previously anticipated summer date. Equinor said that it will increase the plateau by 30,000 bbl/D of oil due to higher plant capacity.

The deal, which will last at least three years, sees Tendeka supply sand screens and autonomous inflow control devices to three Mubadala fields in the Gulf of Thailand: Jasmine, Manora and Nong Yao.

The new cuts bring the company's projected 2020 CAPEX to $1 billion, a 45% drop from its original capital budget. The bulk of savings will come from deferred activity in the Eagle Ford and improved efficiencies in the Delaware Basin.

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...

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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...