OPEC+ Wages War on US Shale Sector
Here are some of Rigzone’s top stories during the last week, just in case you missed them…
OPEC+ Going to War with US Shale
77彩票注册官网In a television interview with Bloomberg on Sunday, Sandhill Strategy co-founder Kartie Bays outlined that OPEC+ is going to war with U.S. shale. Bays told Bloomberg that the move is something the group has “avoided doing since they cut production in 2016”.
Which US Oil Companies Are Going to Struggle?
77彩票注册官网Rigzone asked investment research, investor relations and consulting firm Edison which U.S. oil companies are worst placed to deal with the recent oil price crash. One company representative revealed that U.S. shale companies that are highly leveraged will struggle.
Oil Prices Will Eventually Rebound
77彩票注册官网According to Jack Allardyce, an oil and gas research analyst at Cantor Fitzgerald Europe, oil prices will eventually rebound as current levels are below the marginal cost of production for the majority of operators. Sub-$40 isn’t sustainable for any longer than a short period, Allardyce said.
Oil Workers Test Positive for Virus
77彩票注册官网One Equinor worker and one Shell worker tested positive for the coronavirus this week. The Equinor employee was at the Martin Linge field in the North Sea. The Shell worker is a member staff from Aberdeen.
ConocoPhillips Divests Niobara and Permian Assets
ConocoPhillips revealed that it had completed two transactions to sell its Niobara and Waddell Ranch assets. It did not identify the buyers of the U.S. Lower 48 assets, however.
Here’s What’s Coming
Keep an eye out for these articles on Rigzone later today…
- Saudi-Russia Price War Drives Rough Week for Oil
- Ovintiv Dropping 16 Rigs
- Pacific Drilling Wins Two-Well Mexico Contract
- Murphy Oil to Delay Some Gulf of Mexico Wells
- ONEOK Suspends Select Expansion Projects
- TC Energy to Acquire Pioneer Pipeline
- Offshore Norway Project Propels Automation Progression
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