Weakened natural gas prices failed to deter Haynesville Shale-focused Goodrich Petroleum Corp. during the second quarter, as the independent more than doubled output while it sharply reduced operating expenses.
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Weatherford International plc has begun its next chapter as it emerges from the worst downturn in oilfield history, newly entrenched CEO Mark A. McCollum said Friday.
Houston-based ConocoPhillips is marketing up to $8 billion of assets, primarily natural gas-rich properties in North America, to make way for more global investments elsewhere, including in Texas and North Dakota, executives said Thursday.
A Massachusetts company making natural gas vehicle (NGV) conversion kits on Thursday bought a California company’s Bakken-based natural gas liquid (NGL) processing technology, which it plans to use to fuel trucks and rigs working in the North Dakota oilfields using gas that was previously flared.
Weatherford International plc is laying off another 1,000 people, mostly U.S. support staff, to deal with an energy industry that is “substantially underfunded and substantially underinvested,” CEO Bernard J. Duroc-Danner said Thursday.
National Oilwell Varco Inc. (NOV), which makes and supports advanced drilling systems, has moved into restructuring mode to wait out the eventual upcycle, but until then, it’s going to be a difficult period, CEO Clay Williams said Tuesday.
The fourth largest oilfield services (OFS) company in the world, Weatherford International plc, plans to lay off 5,000 people, almost 9% of its workforce, by the end of March. Last year the company cut more than 6,200 positions.
Chesapeake Energy Corp., with a new CEO leading the way, is beginning a new era for the company as well, moving away from spending to secure big leaseholds in the onshore to living within its cash flow.
EQT Midstream Partners LP agreed to pay up to $650 million for Appalachian-focused Sunrise Partners LP and a new transportation agreement, the company said Monday.
Chesapeake Energy Corp. has begun operating its 850,000 net acre leasehold in the Mississippian Lime jointly with China’s Sinopec International Petroleum Exploration Corp. after the duo completed a $1 billion-plus joint venture (JV) agreement.