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Basic Energy Services Implements Actions in Response to Recent Market Volatility
March 27, 2020
Basic Energy Services, Inc. is implementing several cost control and capital preservation measures in response to the rapidly changing market outlook in a lower commodity price environment as well as market uncertainty related to the impact of the COVID-19 virus.
Texas-based ProPetro Implements Strategic Actions Amid COVID-19 Pandemic
March 27, 2020
ProPetro Holding has made a number of strategic actions to align its cost structure to better reflect currently expected lower activity levels resulting from recent economic and industry forces beyond its control, including the effects of the COVID-19 pandemic, the
Firms Snap Up Parcels at BLM Oil and Gas Lease Sale, Wyoming
March 26, 2020
Oil and gas developers placed bids on nearly 72,000 acres of public land in Wyoming during this year’s first quarterly lease sale Tuesday, with about 72 percent of available leases receiving offers, according to results posted on the digital marketplace
Alberta to Declare Oil Sands Workers Essential as Province Prepares COVID-19 Response
March 26, 2020
Oil sands workers will be declared essential in Alberta as the province prepares a list of who will keep working should it need to ratchet up its response to the COVID-19 pandemic. Ontario and Quebec shuttered all non-essential businesses Monday
Bipartisan Lawmakers Urge Assistance for Oil and Gas Workers
March 26, 2020
A bipartisan group of lawmakers wrote to congressional leadership asking for assistance for oil and gas industry workers as oil prices have plunged amid the coronavirus pandemic and international disputes. “We write to ask you to help address the unique
Husky Energy Suspends West White Rose Project Amid Coronavirus Outbreak, Canada
March 26, 2020
Husky Energy has suspended the $1.52 billion West White Rose Project offshore Newfoundland and Labrador in Canada owing to the prevailing coronavirus outbreak. In this connection, the Canadian energy company said that it is commencing a systematic and orderly suspension
Energy Companies Slash Another $19 Billion from Budgets
March 26, 2020
Eleven energy companies over the past several days said they would cut a combined $18.6 billion dollars from their budgets as oil prices remain near 20-year lows, setting the stage for tens of thousands additional layoffs. West Texas Intermediate crude
Crusoe Energy Systems Donates Computing Resources to Coronavirus Vaccine Research and Discovery
March 25, 2020
Crusoe Energy Systems has deployed more than twenty energy-intensive computing modules throughout America’s oil and gas fields as part of its Digital Flare Mitigation™ system, which captures otherwise flared or wasted natural gas to power computing processes at the wellhead.
Phillips 66 Responds to Challenging Business Environment
March 25, 2020
Phillips 66 will be taking actions in response to the challenging business environment. “Phillips 66 is well positioned to manage through the challenging environment with our high-quality, diversified asset base and strong balance sheet,” said Greg Garland, chairman and CEO
Chevron Releases Actions in Response to Market Conditions
March 25, 2020
Chevron Corporation has made several steps in response to market conditions. “With an industry leading balance sheet and a flexible capital program, we believe Chevron is resilient and positioned to withstand this challenging environment. Given the decline in commodity prices,
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