Marvin Odum, Shell Oil President, discusses the company's new project in the Gulf of Mexico. He says this is going to be a profitable project because the breakeven price is about $55 per barrel.» Read More
Bankruptcy and dealmaking has yet to hit the U.S. oil patch, but drillers face another crucial test of their health this fall.
Lower oil prices could exacerbate potential labor shortages in the energy industry, according to The Times-Picayune.
CNBC's Morgan Brennan reports on Exxon Mobil's fielding of questions about fracking activities at a state hearing. Discussing how big of a problem this could be for oil, with Pavel Molchanov, Raymond James.
June 5- U.S. oil drillers boosted activity in four key basins this week, bringing the promise of additional oil to a market that faces OPEC's Friday decision to leave production caps unchanged. In the latest week, drillers added one oil rig in the Permian basin in West Texas and eastern New Mexico, the biggest and fastest growing U.S. shale oil basin.
June 5- U.S. oil drillers boosted activity in four key basins this week, bringing the promise of additional oil to a market that faces OPEC's Friday decision to leave production caps unchanged. With some OPEC countries like Saudi Arabia and Iraq pumping oil at record or near record levels, the group is trying to keep crude prices low enough to support global oil...
OPEC decides to leave oil production levels where they are.
The EPA said in a Thursday report that it found no evidence fracking has a "widespread" impact on drinking water.
T. Boone Pickens says Saudi production is topping out at about 10 million barrels per day and oil prices will return to $70 per barrel by year end.
OSLO, May 28- Seadrill, the world's second biggest offshore oil driller, predicted years of pain for the global rig market on Thursday as energy companies continue to pare spending despite a recent lift in oil prices. It reported first-quarter core earnings, or EBITDA, of $711 million, beating expectations for $638 million. "Drillers are in a something like...
Despite falling Tuesday amid fear of production hikes, crude oil prices may stabilize based on recent trends, an expert said.
Technology made the US oil shale boom. New technology may allow oil giants Saudi Arabia and Norway to become the next fracking boomers.
May 20- Oilfield services provider Halliburton Co and contract driller Transocean Ltd said they have settled all claims with BP Plc related to the 2010 Gulf of Mexico oil spill. Halliburton, which did the cementing work for BP's well, had earlier blamed BP's decision to use only six centralizers for the blowout that spilled millions of barrels of oil for 87 days.
Governments globally charge prices for energy that do not account for its harmful side effects, amounting to a $5.3 trillion subsidy, the IMF said.
Phil Racusin, EnergyFunders CEO, discusses why his company is financing drilling opportunities in small oil.
LONDON, May 12- Oil drillers Falkland Oil and Gas and Rockhopper resumed normal drilling work on Monday at the Isobel Deep well in the Falkland Islands following the repair of a blow-out preventer control system, the companies said. "The Isobel Deep well is expected to take approximately 15 days to complete," said Falkland Oil and Gas in a statement.
With oil prices up, will companies dive back into drilling and fracking? Insight, with John Kilduff, Again Capital, and Dennis Gartman of the Gartman Letter.
May 6- Driller Rowan Cos Plc reported higher-than-expected quarterly profit and revenue, helped by the deployment of three new ultra-deepwater rigs. Rowan's net income more than doubled to $123.7 million, or 99 cents per share, in the quarter ended March 31. Analysts on an average had expected earnings of 70 cents per share and revenue of $533.1 million,...
Justin Rubinstein, seismologist at U.S. Geological Survey, explains why waste water injection is responsible for the rise in earthquakes in the U.S.
Energy stocks have seen a strong bounce over the past month and a half. Have they turned a corner for good?
April 29- Noble Corp Plc reported a better-than-expected quarterly profit as higher margins from contract drilling services helped offset losses from retirement of rigs due to a slump in oil prices. The company, however, said it expected its capital spending to fall to about $585 million in 2015 from $1.9 billion in 2014.. Net income attributable to Noble fell...