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Shale Can Shock the World Again  | Rigzone

Shale Can Shock the World Again  | Rigzone

Here are some of Rigzone’s top stories during the last week, just in case you missed them…

Oil Industry Experts Say Shale Will Rise Again

Bloomberg reported that shale is in a position to rise from the ashes stronger than ever. The comeback trail would be steep and long though, according to Bloomberg.

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Oil Braces for Biggest Idling of Wells Since 1986

Oil was bracing for the biggest idling of wells in decades, Bloomberg reported last Friday. The company reported that oil prices at the well-head were collapsing under the weight of an unprecedented glut.

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10MM bpd of Oil Output Could Vanish 

IHS Markit predicted that up to 10 million barrels per day of world oil output will be cut or shut-in until June. The company also reported that it anticipates oil demand in 2Q to be 16.4 million barrels per day lower than the year-ago level.

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ProPetro Launches Mass Layoff in Midland

Texas-based ProPetro Holding Corp. announced it was planning a mass layoff at its Hydraulic Fracturing Facility located at 2518 FM 307 in Midland. Nearly 400 employees are going to be affected, according to a notice from the company.

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BHP Awards McDermott FPU Contract

BHP awarded McDermott a contract related to its Trion field development in the Gulf of Mexico. The contract calls on McDermott to provide pre-front-end engineering design services for a floating production unit that will be installed at the field in a water depth of approximately 8,200 feet.

Read the full article here

Here’s What’s Coming

Keep an eye out for these articles on Rigzone later today…

  • Already Cheap Crudes May Be Worth Less Than Zero Dollars
  • Jasper Ventures Lays Off Staff at Veritas Facility
  • Exxon Joins Coronavirus Reusable PPE Effort
  • TechnipFMC Cuts Capex 30 Percent
  • OTC Board Cancels 2020 Houston Event  Rigzone Staff
  • Patterson-UTI Energy Cuts Capex 60 Percent YoY
  • Brazil’s ANP Pauses Upcoming Oil, Gas Licensing Round
  • HollyFrontier Welcomes New EVP, COO
  • Cryopeak LNG Breaks Ground on New Facility

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