Equinor (Statoil) Cutting US Workforce, No New M-U Drilling 2020

Oil and gas drilling giant Equinor (formerly called Statoil) is owned by the Norwegian government. Equinor/Statoil has drilled in the Marcellus/Utica for years. As recently as June 2019 the company reported drilling 9-14 Utica wells per year (see Equinor (Statoil) Drilling Long Utica Laterals, Production Up 5X). But then in March of this year, just prior to the pandemic, the company decided to temporarily suspend it’s Utica (and Bakken) drilling program (see Equinor (Statoil) Stops All U.S. Shale Drilling, Incl. Marcellus). The company is now saying it won’t drill any more new wells this year in the U.S. and is cutting jobs here (and in Canada and the U.K.).

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