Wood Group Estimates Higher Cost Savings From Amec Foster Deal
Wood Group said it expected about 36% more cost savings from its deal to buy Amec Foster for 2.2 billion pounds (US$2.7 billion) than it first estimated when announcing the deal in March.
BP Reportedly Agreed To Cut CEO Bob Dudley's Maximum Pay
Sky News said that Dudley's maximum annual pay over the next three years will now be about 12.2 million pounds (US$15.22 million) including his salary, an annual bonus and a long-term share incentive plan.
Schlumberger, Weatherford JV Creates $3.8 Billion Frack Leviathan
The JV, called OneStim, will rival Halliburton’s frack fleet in the U.S. and Canada and further shrinks the pressure pumping marketplace to the detriment of smaller companies, an analyst said.
Completions & Productivity Gains: McKinsey & Co., PetroNerds (2017)
Joe Quoyeser, senior expert, McKinsey & Co.; and Trisha Curtis, co-founder, PetroNerds LLC
US Oil Rig Count Rises To Most Since September 2015
The increase came despite a collapse in crude futures this week to a three-month low because the rigs activated this week were based on decisions made a couple of month ago when oil prices were higher.
Industry Awaits Legislators’ Next Move Regarding Emissions
Repeal of the U.S. Bureau of Land Management’s waste prevention rule passed the House, but awaits action from the Senate.
Interior Secretary Ryan Zinke Vows 'Bold' Restructuring
The former U.S. congressman addressed employees at the Department of Interior's headquarters on his second full day on the job, assuring them he would not sell off federal lands but also promising change.
EPA Withdraws Request For Methane Information From Oil, Gas Industry
The action can be seen as one of what will be several moves to undo the Obama administration's climate change regulations.
DUC Season: Rockies’ E&Ps Aim At Backlog Of Wells
Many E&Ps are adding capex to complete wells and using new completion techniques in the Williston and Denver-Julesburg basins to improve profitability.
BP Lifts Outlook For Core Oil Business
BP's upstream business is expected to generate free cash flow of $13 billion to $14 billion by 2021, nearly double an outlook presented last year of $7 billion to $8 billion by 2020.