Rystad Energy impact analysis shows that US drilled but uncompleted wells (DUCs) will be the first assets to be threatened by the newly formed low price environment, as their breakeven costs are now only dollars away from market prices
As global markets reel in the wake of the oil price crash, Wood Mackenzie’s Tom Ellacott said, “The price collapse could be the trigger for a new phase of deep industry restructuring - one that rivals the changes seen in the late-1990s
Oil prices have plunged following the collapse of the OPEC/non-OPEC talks on production cuts and Saudi Arabia’s subsequent announcement that it will increase production from next month
Halliburton has been at the forefront of Oman’s oil and gas industry development for more than 55 years
The OPEC Conference has recommended an extension of the adjustment levels agreed at the last OPEC and non-OPEC ministerial meeting and a further reduction of 1.5 mn bpd until 30 June
