Halliburton CEO Dave Lesar Speaks Publicly For First Time Since The Baker Deal Collapse. Halliburton CEO Dave Lesar said: “There is no doubt we are disappointed… but you know what? We are Halliburton. And we will continue to provide the same innovated services and products that we’ve delivered to our customers for more than 97 years.” [Oilpro]
Residents Evacuated As Fires Threaten Canada Oil Sands Town. A fire that forced the evacuation of the Canadian oil sands city of Fort McMurray, Alberta, destroyed 80 percent of the homes in one neighborhood and extensively damaged property in a number of others, and officials warned it could get worse Wednesday. [ABC News]
Iran Seeks EU Support In Accessing US Banks. Despite the majority of sanctions being lifted on 16 January, Iranian officials maintain that some foreign banks are steering clear of transactions with Iran on fears that they might fall foul of remaining US sanctions. [Oilpro, MEES]
Wednesday Earnings
Shell’s 1Q Earnings Beat On Downstream. “Shell’s integrated activities differentiate us, with our Downstream and Integrated Gas businesses delivering strong results and underpinning our financial performance despite continued low oil and gas prices,” CEO Ben Van Beurden said.
Devon Raises Production Guidance. Devon has raised the midpoint of its 2016 guidance by 15,000 boepd, or 3 percent. This incremental production is expected to be delivered without additional capital spending, the company said. [Devon Energy]
Comstock’s Natural Gas Output Up, Oil Output Down. Comstock’s successful Haynesville shale drilling program was cited as the reason for the natural gas output increase. The sale of some of Comstock’s assets in Texas last year, as well as a drilling slowdown in the Eagle Ford, were cited as the reasons for the decline in oil production. [Comstock Resources]
Rowan Secures “Some New Contracts” In This Difficult Market. The offshore contractor’s CEO Tom Burke said, “Our first quarter results reflect our focus on safe and reliable operations with particular attention to careful cost control as we navigate a challenging 2016…I’m pleased with our ability to secure some new contracts in a difficult market.” [Rowan Companies]
The Notorious Zika Virus Is Now An Oilfield Concern, Here’s How To Fight It. Given the inherently global- and outdoor- nature of the oil and gas business, it is essential that workers be prepared and protected from potentially fatal outbreaks of diseases such as the increasingly notorious Zika virus. [Oilpro]
US Oil Industry Bankruptcy Wave Nears Size Of Telecom Bust. The rout in crude prices is snowballing into one of the biggest avalanches in the history of corporate America, with 59 oil and gas companies now bankrupt. [Reuters]
Saipem Wins New Contract In Azerbaijan Worth $1.3bn. Saipem, along with consortium partners Bos Shelf and Star Gulf, have been awarded call-off 007 under the Shah Deniz Stage 2 Master Agreement by BP, the Italian EPC company has announced. [Splash 247, Oilpro]
Meet Gary Sauter Of Calgary, Canada, #HUMANSofOG. He writes, “Freshly graduated in 1976 and safely back from that year in Vienna, Austria – International Music Festival where our Central Memorial High School marching band had captured many top group and solo awards – my father Charlie helped me get hired at Gas and Oil Accounting Ltd. in Calgary.” [Oilpro]
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