Exploration and Production (E&P)

Canacol Energy Ltd. Provides Gas Sales and Drilling Update

Canacol Energy Ltd. Provides Gas Sales and Drilling Update

CALGARY, Alberta, July 16, 2020 (GLOBE NEWSWIRE) — Canacol Energy Ltd. (“Canacol” or the “…

California Resources Corporation Agrees on Comprehensive Balance Sheet Restructuring with Key Creditors
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California Resources Corporation Agrees on Comprehensive Balance Sheet Restructuring with Key Creditors

Transaction to be implemented in pre-arranged Chapter 11 case Finally resolves leve…

GeoPark Announces Second Quarter 2020 Operational Update
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GeoPark Announces Second Quarter 2020 Operational Update

Getting Back to Business With Production and Drilling Resuming In 2H2020 GeoPark Limit…

Diamondback Energy, Inc. Recommends that Stockholders Reject Below-Market “Mini-Tender” Offer by TRC Capital Investment Corporation

Diamondback Energy, Inc. Recommends that Stockholders Reject Below-Market “Mini-Tender” Offer by TRC Capital Investment Corporation

MIDLAND, Texas, July 15, 2020 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (…

Courtesy of Woodside

Australian LNG major Woodside takes $4.3 bln impairment hit

Offshore Energy


Australian LNG major Woodside is bracing for a $4.37 billion impairments hit following an asset value review.

The company is expected to take a $2.76 billion hit in its financial statements for the half-year ended June 30, 2020, …

Ensco 8503 - Courtesy of EnscoRowan
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Talos Energy Receives Official Instruction To Unitize The Zama Field Within 120 Working Days

HOUSTON , July 9, 2020 /PRNewswire/ — Talos Energy Inc. (“Talos,” or the “Company”) (NYS…

Noble Energy to bring back majority of curtailed oil production by July end

Noble Energy to bring back majority of curtailed oil production by July end

BIC


Noble Energy Inc said on Thursday it expected to bring back online majority of curtailed oil production volume by the end of July, as oil prices have recovered from their historic lows, as reported by Reuters.

Shares of …

Lilis Energy voluntarily files for Chapter 11 bankruptcy

Lilis Energy voluntarily files for Chapter 11 bankruptcy

Oil & Gas 360


FORT WORTH, Texas, June 29, 2020 (GLOBE NEWSWIRE) — Lilis Energy, Inc. (NYSE American: LLEX) (the “Company”), an exploration and production company operating in the Permian Basin of West Texas and Southeastern New Mexico, announced today …

CNOOC Limited Announces a Significant Discovery of Huizhou 26-6 in Eastern South China Sea

CNOOC Limited Announces a Significant Discovery of Huizhou 26-6 in Eastern South China Sea

HONG KONGJune 29, 2020 /PRNewswire/ — CNOOC Limited (the “Company”, SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that the Company made a significant discovery of Huizhou 26-6 in Eastern South China Sea. It is expected to become …

Chesapeake Energy Corporation Commences Voluntary Chapter 11 Process

Chesapeake Energy Corporation Commences Voluntary Chapter 11 Process

OKLAHOMA CITYJune 28, 2020 /PRNewswire/ — Chesapeake Energy Corporation (NYSE: CHK) today announced that the Company has voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas (“the Court”) to facilitate …

Oil firms slam brakes on return-to-work as virus cases soar

Oil firms slam brakes on return-to-work as virus cases soar

Reuters.


U.S. energy companies slammed the brakes on returning staff to their Houston offices as COVID-19 cases soared and top hospitals warned they could soon run out of beds for the most severely ill patients, as reported by Reuters

Source: Reuters

Oil falls on fears over rising virus cases worldwide

Reuters


LONDON – Oil prices fell on Monday as concern grew that a record rise in global coronavirus infections could stall recovery in fuel demand, outweighing tighter supplies from major producers.

Brent crude LCOc1 was down 24 cents, or 0.6%, …

Continental Resources Announces Update On Voluntary Production Curtailments

Continental Resources Announces Update On Voluntary Production Curtailments

OKLAHOMA CITYJune 18, 2020 /PRNewswire/ — Continental Resources, Inc. (NYSE: CLR) (“Continental” or the “Company”) today announced an update on its voluntary production curtailments.

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Image: Kizonga deepwater project, off northern Angola coast. Source: ExxonMobil

ExxonMobil restores Guyana oil production

Argus


Kingston, 18 June (Argus) — ExxonMobil has restored crude production offshore Guyana to 80,000 b/d after correcting a technical glitch, according to the head of the country’s environmental agency EPA Vincent Adams.

problem with compression equipment had slashed …

June 18, 2020 - 1:09 pm Crude Oil News, Exploration and Production (E&P)
Shale producer Devon Energy curtails 10,000 bbls per day of oil production

Shale producer Devon Energy curtails 10,000 bbls per day of oil production

BIC


Shale producer Devon Energy Corp has curtailed roughly 10,000 barrels per day of oil production, its chief executive said at an energy conference on Tuesday, but said Devon still expects to end the year with output flat with 2019 …

U.S. shale companies to boost oil output by 500,000 bpd by month-end

U.S. shale companies to boost oil output by 500,000 bpd by month-end

BOE Report


U.S. shale producers are expected to restore roughly half a million barrels per day (bpd) of crude output by the end of June, according to crude buyers and analysts, amounting to a quarter of what they shut since …

Brazil: Petrobras releases E&P teaser of assets in the state of Alagoas

Brazil: Petrobras releases E&P teaser of assets in the state of Alagoas

Energy-pedia


Petrobras has started the opportunity disclosure stage (teaser), referring to the sale of its entire stake in a set of seven onshore and shallow water concessions located in the state of Alagoas.

The teaser, which includes key information about …

Source: Reuters

Iraq lowers oil exports, gets closer to OPEC+ target: sources

Reuters


LONDON – Iraq’s oil exports have fallen by 8% or 300,000 barrels per day (bpd) so far in June, according to shipping data and industry sources, suggesting OPEC’s second-largest producer is getting closer to meeting its pledge in an …

Touchstone Announces Closing of Trinidad Based US$20 Million Term Loan

Touchstone Announces Closing of Trinidad Based US$20 Million Term Loan

Touchstone Announces Closing of Trinidad Based US$20 Million Term Loan

Source: Reuters

British oil major predicts that the coronavirus pandemic will hurt long-term demand

Bloomberg


BLOOMBERG: 15 JUNE 2020

BP will write down the value of its business by as much as $17.5 billion, as the British oil major predicts that the coronavirus pandemic will hurt long-term demand and accelerate the shift to cleaner

Source: Amplify Energy

Amplify Energy Announces Results of Borrowing Base Redetermination and Provides Liquidity Update

HOUSTON, June 15, 2020 (GLOBE NEWSWIRE) — Amplify Energy Corp. (NYSE: AMPY) (“Amplify” or the “Company”) announced today that it has completed the regularly scheduled redetermination of its revolving credit facility borrowing base and entered into an amendment to its …

Extraction Oil & Gas, Inc. Files for Chapter 11 Protection

Extraction Oil & Gas, Inc. Files for Chapter 11 Protection

DENVER, June 14, 2020 (GLOBE NEWSWIRE) — Extraction Oil & Gas, Inc. (NASDAQ: XOG) (together with its subsidiaries, “Extraction” or the “Company”) announced today that the Company has voluntarily filed for petitions for relief under chapter 11 of the U.S. …

Iraq Asks BP To Throttle Flow In Order To Meet OPEC+ Quota

Iraq Asks BP To Throttle Flow In Order To Meet OPEC+ Quota

Bloomberg


LONDON- Iraq has asked BP to cut crude production at the nation’s biggest field of Rumaila by 10% as part of a push to comply with OPEC+ quotas, according to a person familiar with the matter, who asked not

Source: CNBC

OPEC+ mostly met its cutting targets in May, but future compliance — and its enforcement — looks uncertain

CNBC


The 23 member states of OPEC+, comprised of OPEC and ten of its oil-producing allies, for the most part delivered on record production cuts agreed to by the alliance through the month of May, a new report shows.

“OPEC’s …

Source: Reuters

Oil prices set for worst daily drop since April on inventories, bearish Fed

Reuters


LONDON – Oil prices slumped on Thursday, dragged down by another record build-up in U.S. crude inventories and the U.S. Federal Reserve’s projections that the world’s biggest economy would shrink 6.5% this year.

Brent crude LCOc1 futures erased Wednesday’s …

CNOOC Limited Announces Qinhuangdao 33-1S Oilfield Phase I Project Commences Production

CNOOC Limited Announces Qinhuangdao 33-1S Oilfield Phase I Project Commences Production

HONG KONGJune 11, 2020 /PRNewswire/ — CNOOC Limited (the “Company”, SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that Qinhuangdao 33-1S oilfield phase I project has commenced production.

Source: Reuters

ConocoPhillips Chairman: US shale will come back

Oil&Gas Journal


Shale is not broke, and will come back, said ConocoPhillips Chairman and Chief Executive Officer Ryan Lance as part of a CERAWeek by IHS Markit conversation. Lance talked about the outlook for US shale and the new value …

Chesapeake preps bankruptcy plan to hand control to lenders

Chesapeake preps bankruptcy plan to hand control to lenders

WorldOil


Chesapeake Energy is preparing a potential bankruptcy filing that could hand control of one of the leading lights of the U.S. shale revolution to senior lenders, according to people with knowledge of the matter.

The dwindling options for a …

June 9, 2020 - 8:00 am Exploration and Production (E&P), Finance
Source: Reuters

OPEC+ to meet Saturday on extending cuts, pushing for compliance

Reuters


MOSCOW/DUBAI – OPEC and its allies led by Russia will meet on Saturday to discuss extending record oil production cuts and to push laggards such as Iraq and Nigeria to comply with existing curbs.

The producers known as OPEC+ …

Premier Oil renegotiates deal to buy BP North Sea assets

Premier Oil renegotiates deal to buy BP North Sea assets

Energy Voice


Premier Oil has renegotiated its deal to buy a series of North Sea assets from BP and ended a dispute with its largest creditor.

The firm struck a deal with BP in January to buy the Andrew Area …