Latest Headlines

1. ExxonMobil Reduces 2020 Capex By 30%, Cash Opex By 15%; Maintains Long-Term Outlook 4/7/2020

   ExxonMobil said today it is reducing its 2020 capital spending by 30 percent and lowering cash operating expenses by 15 percent in response to low commodity prices resulting from oversupply and demand weakness from the COVID-19 pandemic.

2. TDI-Brooks Completes MSGBC Field Data Acquisition For TGS And Commences Another Offshore Nigeria 4/3/2020

   TDI-Brooks International, Inc (under contract to TGS), has completed the offshore “seep-hunting” surface geochemical analysis and geotechnical campaign of the MSGBC Basin, from Northern Senegal through The Gambia and AGC zone, into Guinea-Bissau down to the Guinea transform fault.

3. ExxonMobil Joins Global Center To Expedite Medical Innovation For Personal Protective Equipment 4/2/2020

   ExxonMobil and the Global Center for Medical Innovation (GCMI) said today that they have initiated multi-sector and joint development projects to rapidly redesign and manufacture reusable personal protection equipment for health care workers, such as face shields and masks, which are in short supply as a result of the COVID-19 pandemic.

4. Crashing Oil Prices And Equity Market Volatility Grind Energy Deals To A Halt 4/2/2020

   Enverus, the leading oil & gas SaaS and data analytics company, has released its Q1 summary of M&A activity, which revealed a substantial collapse as oil prices plunged to 18-year lows. Only $770M in U.S. upstream deals were completed during the first quarter of 2020—less than one-tenth of the ~$8B average for Q1 from 2010-2019.

5. Cryopeak LNG Solutions Breaks Ground On New LNG Production Facility In Fort Nelson, BC 4/2/2020

   Cryopeak LNG Solutions Corporation (“Cryopeak”), based in Richmond BC, has begun construction of a new liquefied natural gas (LNG) production facility located in Fort Nelson, BC, capable of producing up to 90,000 gallons of LNG per day.

6. Whiting Petroleum Corporation Reaches Agreement In Principle With Certain Of Its Noteholders To Pursue Consensual Financial Restructuring 4/1/2020

   Whiting Petroleum Corporation and certain subsidiaries (collectively, “Whiting” or the “Company”) today announced that they had commenced voluntary Chapter 11 cases under the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”).

7. Quality Companies Appoints Derek Bollom As Vice President Of Offshore And Offsite Operations 4/1/2020

   Quality Companies, the global offshore and onshore construction, fabrication and electrical and instrumentation company, has appointed Derek Bollom as vice president of offshore and offsite operations for Quality Construction and Production.

8. EPA Takes Step Toward Granting Wyoming Primacy For Certain Underground Injection Wells 4/1/2020

   Today, the U.S. Environmental Protection Agency (EPA) is asking for public input on the agency’s intent to approve the State of Wyoming’s request to have primary responsibility (primacy) for enforcing regulation of Class VI wells under the Underground Injection Control (UIC) Program.

9. ClockSpring|NRI Launches The TEC Talks Program 3/31/2020

   ClockSpring|NRI, the leading high-performance critical infrastructure solutions company, has launched a series of TEC talks which highlight how our products and services create business value for our customers where shutting down operations is not an option, as well as providing a little light relief to our partners who may be stuck at home during this period.

10. America’s Natural Gas And Oil Companies Lead Multiple Initiatives To Reduce Methane Emissions 3/31/2020

    The American Petroleum Institute today applauded the launch of the Texas Methane and Flaring Coalition, an initiative representing nearly 80 percent of oil production in Texas and formed to minimize methane emissions and flaring in the state of Texas.