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Petrobras allots supercomputers in fight against Covid-19

March 26, 2020
| Archives

  The initiative will contribute in studies to develop medication and vaccines against the coronavirus Petrobras will direct part of the processing capacity of high performance computers (HPC) – the so-called “supercomputers†– in order to collaborate with research in fighting the coronavirus, in a partnership with the Chemistry Department of Stanford University, USA. The goal is to contribute

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OXY and Icahn bury the hatchet, agrees to board change

March 26, 2020
| Archives

  Occidental Petroleum agreed to a truce with activist investor Carl Icahn, ending a bitter 10-month campaign by the billionaire activist investor to fire the board and seize control of the company. Now, Chief Executive Officer Vicki Hollub’s future will be in the hands of a new board after surviving Icahn’s calls for her resignation. But her most immediate

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VAALCO announces South East Etame 4H well has been successfully completed and placed on production

March 25, 2020
| Archives

  VAALCO Energy, Inc. provided an update on the successful completion of its 2019/2020 drilling program as well as an operational update. Highlights Successfully completed the South East Etame 4H development well including approximately 750 feet of horizontal section in the Gamba reservoir; Brought the South East Etame 4H well onto production on March 21, 2020 at an initial flow rate

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Nabors Responds to Market Conditions

March 25, 2020
| Archives

  Nabors Industries Ltd. announced it is taking several actions in light of current market conditions, which have arisen from the combination of the COVID-19 outbreak and the ongoing dispute between two of the largest oil exporters. Anthony G. Petrello, Nabors Chairman, CEO and President, commented, "The safety of our employees remains our top priority. In the face of COVID-19,

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Equatorial Guinea Grants Relief to Oilfield Service Companies

March 25, 2020
| Archives

The country has acted to support its services industry and is engaging on an industry-wide dialogue to study other measures for upstream operators and ongoing midstream projects The Ministry of Mines and Hydrocarbons (MMH) of the Republic of Equatorial Guinea decided on the waiving of its fees for service companies in the country. The country says it is the

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More New Mexico public land to be leased to oil and gas industry

March 25, 2020
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Opposition to a sale of public land to the oil and gas industry could be voiced and entered into official record for the next week as the federal Bureau of Land Management opened a protest period Monday for a quarterly lease sale scheduled in May. The sale of federal public land, offered in Eddy, Lea and Chaves counties

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Total gives up rights to deep water block in Mexican Gulf

March 25, 2020
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Mexico’s oil regulator approved on Friday a request by French oil company Total SA to give up its exploration and production rights to a deep water block in the southern Gulf of Mexico that the firm had won at auction in 2016. The regulator said Total decided to return the block due to the results it had obtained

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Fire on the Constellation Alpha Star

March 24, 2020
| Archives

On Thursday night (19), at 10:05 pm, a fire was detected in the Alpha Star rig of Constellation, a company that provides drilling services for onshore and offshore wells. According to information from Constallation, the incident started in the engine compartment of the rig’s starboard crane. Fortunately, there were no casualties or environmental damage. The brigade team was called immediately

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Chevron cuts spending and suspends share buybacks

March 24, 2020
| Archives

Chevron became the latest oil company to take an ax to its budget, cutting capital expenses by $4 billion and suspending its share buybacks. Just weeks ago, Chevron Chief Executive Officer Mike Wirth pledged to keep the buyback through a downturn in oil prices. But this month’s collapse represents such a profound challenge that retaining the shareholder-friendly $5

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Talos Energy announces budget changes and updated 2020 Guidance

March 24, 2020
| Archives

Talos Energy Inc. announced their updated full year 2020 financial guidance, inclusive of $170.0 million of reductions in capital, operating and G&A expenses. The Company will continue to evaluate additional opportunities to further reduce 2020 costs. Those reductions would be incremental to the $170.0 million already identified. Talos continues to expect to generate positive free cash flow in

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