Here are some of Rigzone’s top stories during the last week, just in case you missed them…
Shell and Aker BP Cancel Maersk Drilling Contracts
Maersk Drilling received notice of early termination of two drilling contracts, one with a Shell subsidiary and another with Aker BP. The company said it expects to receive compensation in the form of early termination fees for both contracts.
Read full article here
Schlumberger Revenues Tumble Under Double Black Swan
Schlumberger saw its first-quarter revenue sink 9% sequentially and 5% year-on-year as the pandemic ravaged oil industry activity, and a battle for market share between the world’s largest oil producers took place, during the period.
Read full article here
Historic Oil Rout Poised to Bust Shale
Bloomberg reported that a historic crash in crude prices is driving U.S. shale into full-on retreat. Some 1.75 million barrels a day is at immediate risk of shutting down, according to IHS Markit, Bloomberg highlighted.
Read the full article here
Offshore Drilling Starts for Qatar Mega-Project
Qatar Petroleum has begun the offshore development drilling campaign for its North Field East Project. The North Field is considered the largest single non-associated gas field in the world.
Read full article here
ConocoPhillips Unveils Curtailment Plans
ConocoPhillips is going to voluntarily curtail its output by 225,000 gross barrels of oil per day in Canada and the Lower 48 United States in response to the latest oil market downturn. The company will also dramatically reduce its 2020 cash uses.
Read full article here
Here’s What’s Coming
Keep an eye out for these articles on Rigzone later today…
- Historic Oil Market Event Highlights US Refinery Rejection
- Borr Adds Newbuild Jack-up to Fleet
- Eagle LNG Advances Plans for Regional Export Terminal
- The Next Normal for Oil and Gas Is Unfolding
- Arctic LNG 2 Contracts Go to CCC
- McDermott's Cameron LNG Begins Final Stage of Train 3
- Floatel Delays Charter With Ineos FPS
To contact the author, email andreas.exarheas@rigzone.com
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