Falling U.S. inventories in recent weeks have helped alleviate some concerns about the global crude glut as Saudi Arabia and Russia underscored their commitment to reducing crude supply.
Like many of its peers, Hess is struggling to adapt to the dip in oil prices this year, which was not expected when 2017 capital budgets were crafted.
The company said it signed an agreement to sell its Pinedale assets and closed the sale of noncore Wyoming assets.
Anadarko and the rest of the U.S. shale oil industry have been grappling with how to conserve cash and maintain growth opportunities even as crude prices have slumped since January.
American Midstream expects that substantially all proceeds from the propane sale will be reallocated within the third quarter, including the acquisition of the Viosca Knoll system in deepwater GoM.
Native Exploration will pursue acquisitions of oil and gas assets with scalable exploitation and development upside in the Midcontinent region, specifically in Oklahoma.
ExxonMobil sued the U.S. government on July 20, blasting as "unlawful" and "capricious" a $2 million fine levied against it for a three-year-old oil joint venture with Russia's Rosneft.
Encana has benefited from downsizing its operations to focus on four core North American assets: the Montney and Duvernay in Canada, and the Eagle Ford and Permian in the U.S.
Schlumberger NV, the world’s largest oilfield services company, has agreed to buy a 51% stake in Russia’s biggest oilfield services firm Eurasia Drilling Co. (EDC), the Russian company said late on July 20.
Technology is helping boost production and lower costs for U.S. shale players, but analysts say rising volumes are pressuring oil prices.