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Violently Positive Oil Prices and More

Andreas Exarheas
·2 min read
Violently Positive Oil Prices and More
Violently Positive Oil Prices and More

This article was first published on Rigzone here

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

Oil Prices in Violently Positive Reaction

Rystad Energy’s head of oil markets, Bjornar Tonhaugen, outlined that oil prices reacted in a “violently positive” manner on Monday as the market priced in the possibility of a quicker roll-out of a global vaccine.

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Consequences of a Biden Admin for US Energy 

A change of federal government would have several consequences for the U.S. energy industry, according to energy research and consultancy company Wood Mackenzie.

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$455MM in Brazil Contracts Go to Oilfield Services Trio

Baker Hughes, Halliburton and Schlumberger have won contracts for drilling and well services on the Bacalhau field offshore Brazil. The contracts are valued at $455 million and have a firm period of four years and two two-year options.

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Baker Hughes US Rig Count Hits Milestone

The number of rotary drilling rigs operating in the United States hit the 300 mark this week, Baker Hughes Co. reported. The latest U.S. rig count represents a week-on-week jump of four drilling units.

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Trump Statements Help Depress Oil Prices

U.S. President Donald Trump’s statements last Thursday helped depress oil prices the following day due to the unprecedented political turmoil that could be coming, according to Rystad Energy.

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Filing Shows WPX Walked Away from 43% Takeover Premium

Bloomberg reported that WPX, which Devon Energy Corp agreed to acquire in September for $2.56 billion, had walked away from a rival bid valuing its stock at 43 percent above where it was trading.

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Texas Oil Groups React to TXRRC Vote

The Texas Oil and Gas Association and the Texas Independent Producers & Royalty Owners Association  both released comments following Jim Wright’s election to the Texas Railroad Commission.

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To contact the author, email andreas.exarheas@rigzone.com

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