Page 1 - NorthAmOil Week 30
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Issue 614 30•July•2020 Week 30
Bulking up
ConocoPhillips’ $375mn purchase of Montney shale acreage comes despite
the headwinds that North American shale drillers are currently experiencing.
Rig movements
The slight weekly increase in the oil rig count was cancelled out by declines
in the number of gas rigs, but is nonetheless seen as a positive sign.
Oil sands losses
Oil sands players Suncor Energy and Cenovus Energy have reported losses
for the second quarter of 2020.
Improved outlook
US independent Hess has raised its production outlook for the whole of 2020
by 10,000 boepd to about 330,000 boepd.
