Episode 155 - Oil major budget cuts | Chesapeake files for bankruptcy | RRC rejects cuts

This week, Josh and Ryan talk about budget cuts for oil majors, market rebalancing, and production drops as rig counts in the Permian go below 200. We also touch on the Texas Railroad Commission rejecting production cuts, Chesapeake filing for bankruptcy (Jason is dead, it seems) and the political fallout of the Coronavirus.

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This week's articles:

https://www.mrt.com/business/oil/article/In-historic-oil-shutdown-hard-part-is-picking-15246248.php

https://www.mrt.com/business/oil/article/Oil-recovery-task-force-crafts-recommendations-to-15257124.php

https://www.hartenergy.com/exclusives/lending-helping-hand-oilfield-workers-187481

https://www.hartenergy.com/news/falling-diesel-use-makes-us-oil-industry-snake-biting-its-own-tail-187503

https://www.mrt.com/business/oil/article/Oxy-takes-1-4-billion-writedown-cuts-budget-15249567.php

https://seekingalpha-com.cdn.ampproject.org/c/s/seekingalpha.com/amp/article/4343166-exxon-mobil-acquisition-offer-made-see-deals,

https://www.wsj.com/articles/occidental-seeks-to-lessen-roughly-40-billion-debt-load-11588705437

https://pubs.spe.org/en/jpt/jpt-article-detail/?art=7014

https://pubs.spe.org/en/jpt/jpt-article-detail/?art=7011

https://www.mrt.com/business/energy/article/BP-Profit-Plunges-Debt-Rises-on-Effects-of-15231216.php

https://www.hartenergy.com/news/shale-producer-eog-resources-shut-existing-wells-187482

https://www.hartenergy.com/news/pioneer-natural-resources-boosts-spending-cuts-oil-slump-bites-187452

https://www.hartenergy.com/news/apache-posts-quarterly-loss-value-oil-assets-drops-187453

https://pubs.spe.org/en/jpt/jpt-article-detail/?art=6997

https://truthout.org/articles/the-fed-just-changed-its-own-rules-to-bail-out-the-fossil-fuel-industry/

https://www.oilandgas360.com/covid-19-disrupts-global-supply-of-critical-minerals/

https://www.mrt.com/business/oil/article/Oil-Economics-101-Part-2-Changes-in-crude-oil-15259522.php

https://www.mrt.com/business/oil/article/Crude-oil-climbs-24-percent-this-week-15257884.php

https://www.mrt.com/business/energy/article/Oil-Falls-on-Ample-Supply-as-Investors-Shun-15244529.php

https://www.mrt.com/business/oil/article/Oil-rises-on-hope-that-Saudi-price-hike-will-aid-15253917.php

https://www.mrt.com/business/oil/article/Permian-Highway-Pipeline-continues-to-progress-15259449.php

https://www.mrt.com/business/oil/article/Drilling-sinks-to-record-U-S-low-15257279.php

https://www.mrt.com/business/oil/article/Permian-rig-count-drops-below-200-15257911.php

https://www.rigzone.com/news/2020_oil_demand_expected_to_drop_11_percent-08-may-2020-162028-article/

https://www.mrt.com/business/oil/article/Shale-producers-hint-at-possible-fracking-revival-15248231.php

https://www.mrt.com/business/oil/article/OPINION-Don-t-mistake-higher-oil-prices-for-a-15260045.php

https://www.mrt.com/business/oil/article/Morningstar-sees-inevitable-recovery-in-oil-15259427.php

https://www.hartenergy.com/news/ceo-top-us-shale-producer-sees-oil-price-recovery-continuing-187470

https://www.rigzone.com/news/oil_metric_shows_demand_comeback-08-may-2020-162031-article/

https://www.mrt.com/business/oil/article/RRC-votes-against-requiring-cuts-15248682.php

https://pubs.spe.org/en/jpt/jpt-article-detail/?art=7004

https://www.mrt.com/business/energy/article/Getting-oil-to-flow-again-won-t-easy-15256337.php

https://www.rigzone.com/news/wire/permian_drillers_slash_output_themselves-04-may-2020-161979-article/

https://www.npr.org/2020/05/05/850105225/texas-was-the-model-for-opec-but-its-not-likely-to-limit-oil-production-now

https://www.mrt.com/business/oil/article/Permian-Drillers-Slash-Output-Even-More-After-15247995.php

https://www.mrt.com/business/oil/article/Shale-Drillers-Risk-Relapse-Into-Rampant-Oil-15251232.php

https://www.hartenergy.com/news/basic-energy-launches-automated-water-management-solution-permian-operator-187489

https://www.hartenergy.com/exclusives/waterbridge-names-co-ceos-founder-stephen-johnson-steps-new-role-187505