Feb 26- Offshore driller Ensco Plc said it would shut down an ultra-deepwater rig as demand dwindles due to a slump in crude prices, a day after it slashed its quarterly dividend by 80 percent. Ensco reported a fourth-quarter loss on Wednesday, compared with year-ago profit, hurt mainly by a $3 billion goodwill impairment charge. Ensco cut its quarterly dividend...» Read More
Stifel is recommending clients buy these 10 stocks to bet on an oil rebound.
The first half of 2015 will be "good news for consumers" and bad news for oil producers, says Richard Mallinson, geopolitical and oil analyst at Energy Aspects.
*Staples, Office Depot in advanced merger talks- WSJ. *Stratasys drops after cutting outlook. A source told Reuters that Greek Finance Minister Yanis Varoufakis, in London to reassure private investors he was not seeking a showdown with Brussels over a new debt agreement, said the new left-wing government would spare privately held bonds from losses.
*Staples, Office Depot in advanced merger talks- WSJ. A source told Reuters that Greek Finance Minister Yanis Varoufakis, in London to reassure private investors he was not seeking a showdown with Brussels over a new debt agreement, said the new left-wing government would spare privately held bonds from losses. Shares of offshore contract driller Transocean...
A former top oil executive says the price of gas at the pump could double by year's end, even as consumers are enjoying low prices.
Oil prices are in the midst of a prolonged slump, squeezing bottom lines everywhere. How do sovereign wealth funds cope?
Jan 29- Oil and gas driller Helmerich& Payne Inc said it expects revenue for U.S. land rigs to decrease in the current quarter amid a slump in crude oil prices. Helmerich& Payne said it expected the average rig revenue per day in the U.S. land drilling segment to decrease to between $27,000 and $27,500 in the second quarter, after rising 3.5 percent to $29,457 in the...
Jan 29- Oil and gas driller Helmerich& Payne Inc reported higher quarterly profit due to compensation from early termination of contracts, and warned results for the rest of 2015 would be hurt by a steep fall in oil prices. Net income rose 17 percent to $203 million, or $1.85 per share, in the first quarter ended Dec. 31. Operating revenue rose 18.8 percent to $1.06...
Markets may be expecting oil prices will remain lower for longer, but some analysts are forecasting a quick recovery.
Drillers have slashed capital expenditure budgets and are being pickier about where they plumb for oil as crude prices fall.
MOSCOW, Jan 20- Oil services giant Schlumberger plans to buy a 45.65 percent stake in Eurasia Drilling for about $1.7 billion, potentially paving the way for it to become the sole owner of Russia's most active oilfield services company. The multi-stage deal announced by the companies on Tuesday will see U.S. group Schlumberger, which has been in a strategic...
Here's how West Texas crude got its swagger back—well at least relative to its more worldly cousin Brent—explains John Kilduff.
Lower prices could make oil unprofitable to pull out of the ground. But we're not there yet, according to energy consultant Wood Mackenzie.
Despite anecdotal evidence, a new study is dismissing the U.S. manufacturing renaissance as little more than a "myth."
A twist of fate has made slumping gas prices fuel a discussion once thought to be anathema in a Republican-led Congress: higher gas taxes.
NEW YORK, Jan 8- Sue Ann Arnall, the ex-wife of Oklahoma oil magnate Harold Hamm, has deposited a handwritten $975 million divorce check, Hamm's lawyer said on Thursday, in a move that may end an epic divorce battle over a fortune worth billions. In the November ruling by an Oklahoma County Court judge, Hamm, the chief executive of Continental Resources was allowed to...
Investors who believe in a long-term recovery in oil prices should look to exploration and production companies, said David Tameron.
Trying to pick the bottom of oil's surprise price plunge may be tougher this time around, with analysts turning to non-traditional indicators to make predictions.
In order to stem the free fall in oil prices, one of three key things must be done, says Sabine Schels, a commodity strategist at BofA Merrill Lynch Global Research.
Jan 6- Harold Hamm, the chief executive of oil driller Continental Resources who is embroiled in a bitter divorce, offered to pay his former wife $974.8 million, but she rejected a hand-written check, lawyers for both sides said on Tuesday. Hamm's offer would have paid his ex-wife, Sue Ann Arnall, immediately the full cash value of what he owes based on a November...