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Popular News – Top 5 from this past week

April 6, 2020
| Weekly Rundown

This past week we had 23k page views and the top 5 grabbed up 13.6k of them, below are our top 5 articles for the week of March 29 – April 4! Everyone stay safe and healthy out there! #1 with 4,977 views Schlumberger cuts executive salaries, reduces workforce amid oil price crash #2 with 3,599 views BP CEO response to market:

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A world without paper, Cleargistix is delivering the solution

April 3, 2020
| Business Spotlight

Rig Lynx founder Greg Williams sits down with Steven Toups, President and CEO of Cleargistix LLC, a company that attacks the #1 enemy of efficiency and effectiveness in the oilfield, the paper service ticket. Click play to hear the conversation!   Greg: Tell us a bit about yourself, your background and how you managed to find yourself offering up the

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Oil’s surge continues as production cut gains traction

April 3, 2020
| Archives

Oil advanced above $32 a barrel in London as OPEC+ scheduled an urgent meeting next week to try and stem the crude market’s rout, with an output cut of 10% of global production being discussed. The coalition will hold a meeting of its members by video conference on Monday. It will be open to all producers — not

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TechnipFMC to reduce capex spending by 30%

April 3, 2020
| Archives

TechnipFMC plc today announced that it remains focused on taking all necessary steps to ensure the health and well-being of its employees, contractors and partners, and it is taking decisive actions in response to the current market environment. These actions include the following: 30% reduction in 2020 capital expenditures to $300 million – a reduction of $150 million when

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Petrobras and Sete Brazil bury the hatchet

April 3, 2020
| Archives

Petrobras reports that it has entered into a settlement agreement to end an arbitration filed by an investor in Sete Brasil under judicial reorganization, seeking compensation from Petrobras for alleged damages related to its investment in the Sondas Project. In the 1Q2020 Petrobras will revert a provision of R$ 634 million related to the disputes arising from the

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Brazil’s ANP suspends oil, gas bidding rounds due to coronavirus

April 3, 2020
| Archives

Brazil’s oil and gas regulator ANP on Wednesday approved the temporary suspension of the 17th round of auction bids for exploration and production rights planned for this year due to the coronavirus health crisis. In a press release, the ANP said its action followed the Mines and Energy Ministry’s decision to suspend pre-auction procedures such as the drafting

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OTC Houston 2020 Cancelled

April 3, 2020
| Archives

After significant consideration and in light of the COVID-19 pandemic, the difficult decision was made to cancel the 2020 Offshore Technology Conference. Amid continued health and travel concerns during this uncertain time, the OTC Board of Directors felt this decision was the most feasible and responsible for staff, exhibitors, partners, attendees, and the Houston community. “As we navigate

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Southeast Asia rig utilization targeted for 18% drop

April 1, 2020
| Archives

Southeast Asia’s rig market, which was poised for growth in 2020, is now set for decline. Several oil companies have already made significant cuts to their 2020 capex budgets due to the impact of the Covid-19 pandemic and the ongoing price war, a Rystad Energy’s analysis shows. E&Ps in Southeast Asia have been very cautious by locking in

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