Quarter

Royal Dutch Shell plc warned Tuesday of “significant uncertainty” regarding commodity prices and demand for oil and natural gas because of Covid-19, but it reiterated that liquidity remains strong.

With record volumes moving across six of Enterprise Products Partners LP’s (EPD) midstream facilities and a slew of new projects recently announced, the company is targeting $3.8 billion in capital expenditures (capex) for 2019 and eyeing $3-4 billion in 2020 spending that would fund organic growth projects.

After setting fresh highs in gathering volumes on its Jackalope natural gas gathering and processing (G&P) system in Wyoming earlier in October, Crestwood Equity Partners LP is looking to add incremental dedications to the system.

Houston-based Patterson UTI Energy Inc. is idling fracturing spreads in the Lower 48 and evaluating the economics of working versus shutting down more equipment through the end of the year as customers drop rigs.

Coming off a strong quarter of growth in its natural gas business, Kinder Morgan Inc. (KMI) remains poised to capture value from connecting the sources of supply and demand burgeoning on either side of Texas.

Oklahoma City-based Roan Resources Inc., which is focused exclusively on the stacked plays within the Anadarko Basin, dropped one rig in the second quarter, bringing the count to three*, and is considering potentially dropping another this year, executives said on a 2Q2019 earnings call.

Houston-based oilfield services operator National Oilwell Varco Inc. (NOV) reported growth in its international and offshore businesses during the second quarter, but the North American land market suffered as producers slashed spending.

U.S. upstream merger and acquisition (M&A) activity rebounded in the second quarter from historic lows earlier this year, but the value was super-sized with Occidental Petroleum Corp.’s $57 billion proposed takeover of Anadarko Petroleum Corp., according to a review by DrillingInfo.

Lower 48 explorers are on track to increase oil production by 16% this year, with growth of around 1.1-1.2 million b/d, according to Rystad Energy.