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Carolyn Davis

Carolyn Davis joined the editorial staff of Intelligence Press Inc. in Houston in May, 2000. Prior to that, she covered regulatory issues for environmental and occupational safety and health publications. She also has worked as a reporter for several daily newspapers in Texas, including the Waco Tribune-Herald, the Temple Daily Telegram and the Killeen Daily Herald. She attended Texas A&M University and received a Bachelor of Arts degree in journalism from the University of Houston.

Noble Energy Brings Back Curtailed DJ, Permian Volumes

Noble Energy Brings Back Curtailed DJ, Permian Volumes

Most of Noble Energy Inc.’s Lower 48 oil and gas volumes that were curtailed as the coronavirus sapped demand are back online as operating costs and netback pricing have improved. The Houston-based super independent, which issued its results Monday, curtailed 30,000 boe/d net during 2Q2020. Most of the reduced volumes, estimated at 80%, were curtailed…

August 3, 2020
ExxonMobil Slashing Permian Rig Count, Forecasting Global Oil Glut Extending ‘Well into 2021’

ExxonMobil Slashing Permian Rig Count, Forecasting Global Oil Glut Extending ‘Well into 2021’

A global oil supply glut and scant demand resulting from Covid-19 pushed ExxonMobil to a historic loss in the second quarter, with nearly every corner of its operations slammed. The quarterly loss of $1.1 billion (minus 26 cents/share) was the deepest in history as transportation and petrochemical demand reversed. During 2Q2019, profits were $3.1 billion…

July 31, 2020
Chevron Warns Pandemic Threatening Through September, but Common Ground in Election

Chevron Warns Pandemic Threatening Through September, but Common Ground in Election

Chevron Corp., savaged in the second quarter by the hurricane-force winds of Covid-19, warned Friday that the pandemic may choke profits through September.  The San Ramon, CA-based major posted an $8.3 billion loss (minus $4.44/share), compared with net profits a year earlier of $4.3 billion ($2.27). U.S. upstream operations lost $2.1 billion, versus year-ago earnings…

July 31, 2020
Apache Curtailing Some Permian Oil Until Prices ‘Well Into the $50s,’ Says CEO

Apache Curtailing Some Permian Oil Until Prices ‘Well Into the $50s,’ Says CEO

Apache Corp. has no plans to raise rigs again in the Permian Basin “unless oil prices recover well into the $50s,” CEO John Christmann said Thursday. The Permian, which in recent years had been the Houston independent’s No. 1 prospect, continues to deliver “highly competitive economics,” Christmann said. However, “other areas within our portfolio offer…

July 31, 2020
ConocoPhillips Reversing North American Curtailments, Monitoring Oil, Gas Prices

ConocoPhillips Reversing North American Curtailments, Monitoring Oil, Gas Prices

Houston-based ConocoPhillips has begun ramping up shut-in oil and gas volumes from across North America, with most output set to be “fully restored” in September. The largest independent in the world issued its second quarter results on Thursday, with CEO Ryan Lance sharing insight during a conference call. He acknowledged what many of his peers…

July 30, 2020
Shell’s LNG, Oil Demand Plunges in Covid-19 Rout, with Energy Impacts Still Uncertain

Shell’s LNG, Oil Demand Plunges in Covid-19 Rout, with Energy Impacts Still Uncertain

Royal Dutch Shell plc swung to a massive loss in 2Q2020, torn down by a historic loss in natural gas and oil demand, with CEO Ben van Beurden warning the long-term energy outlook remains uncertain as long as the global pandemic wreaks economic havoc. The Anglo-Dutch supermajor said the 2Q2020 current cost of supplies (CCS),…

July 30, 2020
Don’t Mess with Texas Oil and Natural Gas, Trump Tells Permian Crowd

Don’t Mess with Texas Oil and Natural Gas, Trump Tells Permian Crowd

President Trump rallied West Texas oil and natural gas workers on Wednesday afternoon during a visit to Midland, in the heart of the Permian Basin, touting American energy dominance and claiming the industry is not only back on track but expanding. The campaign speech of sorts came during a brief visit after the president toured…

July 30, 2020
Ovintiv Touts Permian, Anadarko, Montney Gains, Brings Online 32,000 Boe/d of Shut-In Volumes

Ovintiv Touts Permian, Anadarko, Montney Gains, Brings Online 32,000 Boe/d of Shut-In Volumes

North American explorer Ovintiv Inc. has brought back online substantially all of its shut-in volumes of 32,000 boe/d, including 18,000 b/d of crude and condensate voluntarily curtailed in the second quarter, CEO Doug Suttles said Wednesday. Suttles during the quarterly conference call credited efficiencies achieved by reducing costs and the workforce, as well as financial…

July 29, 2020
Matador’s Results Beat Expectations, Deliver Record Oil Output, Stronger Natural Gas Volumes

Matador’s Results Beat Expectations, Deliver Record Oil Output, Stronger Natural Gas Volumes

Dallas-based independent Matador Resources Co., whose operations span the Permian Basin, Eagle Ford and Haynesville shales, boosted oil and natural gas production in the second quarter using smaller but more efficient operations, management said Wednesday. Even with some output shut-in and with lower commodity prices, average net oil volumes climbed to a record quarterly high…

July 29, 2020
Helmerich & Payne Looking to Performance-Based Rig Contracts as Covid-19 Assaults Activity

Helmerich & Payne Looking to Performance-Based Rig Contracts as Covid-19 Assaults Activity

Tulsa-based Helmerich & Payne Inc. (H&P), which fabricates and operates a fleet of high-performance drilling rigs around the world, is aligning operations toward performance-based commercial models rather than the industry standard dayrates to build customer support, CEO John Lindsay said Wednesday. What historically were separate U.S. Land Operations and HP Technologies business segments have been…

July 29, 2020