Equinor stops drilling in US shale plays for remainder of 2020
Wednesday, September 2, 2020
Norway’s Equinor will not drill any more shale wells in the United States this year, continuing to adjust to lower oil prices, a spokesperson for the company said, according to OilPrice.com.
Equinor halted drilling in the Bakken and the Marcellus shale fields in March this year, as it slashed billions in spending in response to the oil price collapse. Months later, Equinor has also decided to cut jobs. It has yet to specify how many.
Despite the cuts, Equinor has no asset sale plans, which means it could still have long-term plans for its shale oil and gas operations in the U.S.
Learn more: OilPrice.com > Oil Major Equinor Stops Drilling in U.S. Shale Patch
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