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Oil and Gas Exploration

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  • March 11- A federal appeals court upheld a district judge's decision to drop manslaughter charges against two former BP Plc well site managers over their roles in the 2010 Gulf of Mexico oil drilling disaster that killed 11 people. Robert Kaluza and Donald Vidrine were the two highest-ranking supervisors on board the Deepwater Horizon rig when disaster...

  • These oil driller stocks could be winners: Analyst Wednesday, 11 Mar 2015 | 5:00 PM ET
    Atwood Oceanics rig

    If investors know where to look they may find some opportunity in the oil-drilling sector, analyst Ken Sill said.

  • Did lower oil prices help the economy at all? Tuesday, 10 Mar 2015 | 9:35 PM ET
    Oil gas Russia

    The oil price plunge has been touted as a global growth elixir, but so far the economic impact has been subtle and it's unclear when that will change.

  • DUBAI, March 10- Saudi Arabia's King Salman said on Tuesday that the kingdom would continue oil and gas exploration despite the fall in crude prices, and vowed to build a strong, diversified economy.

  • MANAMA, March 9- The steep fall in energy prices will hit investment in oil and gas projects worldwide and the industry may cancel about $1 trillion of planned projects globally in the next couple of years, a senior Saudi Aramco executive said on Monday. At this moment the global industry is poised to potentially cancel about $1 trillion in capital funding, " Amin...

  • Brazil's Supreme Court will probe 34 politicians in connection with a multibillion-dollar kickback scheme at state-controlled oil company Petrobras.

  • *U.S. rig count data at lowest since April 2011. NEW YORK, March 6- Crude oil prices closed down on Friday, with benchmark Brent losing its most in a week since January, as a resurgent dollar and fear of a U.S. rate hike diverted attention from the shrinking number of rigs drilling for oil in the United States. Benchmark Brent oil settled down 75 cents, or 1.2 percent, at...

  • The number of rigs drilling for oil in the United States fell by 64 to 922, oil services company Baker Hughes Inc said in its weekly report. The number of oil rigs in use has fallen in 18 of the past 21 weeks, according to Baker Hughes. Texas, the state with the most rigs, again lost the most this week, shedding 32 to 537, the lowest since 2010, Baker Hughes said.

  • NEW YORK, March 6- Crude prices fell on Friday as a rallying dollar and fears of a rate hike due to strong U.S. jobs growth suppressed the market, diverting attention from a near four-year low in the number of rigs drilling for oil in the United States. Worries about the security of Libyan and Iraq crude supplies, which had put a floor beneath the market in the earlier...

  • Oil firms are swimming in data they don't use Thursday, 5 Mar 2015 | 1:39 PM ET

    The energy industry's failure to use the data it collects means it's not as efficient as it could be, leaving money on the table.

  • These countries the REAL wildcards for oil: Expert Thursday, 5 Mar 2015 | 9:13 AM ET
    A pump jack operates at an oil well in Williston, N.D., Feb. 15, 2015.

    Despite the meltdown in oil, prices are more likely to rise than to fall further because of political instability, an industry consultant tells CNBC.

  • Saudi Arabia expects oil price to stabilize Wednesday, 4 Mar 2015 | 9:03 AM ET
    Saudi Arabian Oil Minister Ali al-Naimi

    Saudi Arabia's oil minister said he expected oil prices, which hit a near six-year low in January, to stabilize, signalling cautious optimism.

  • March 2- Onshore and offshore driller Nabors Industries Ltd swung to a quarterly loss, hurt by a fall in drilling activity amid a slump in global crude prices. Nabors recorded charges of about $1.2 billion in the quarter related to its pending deal with C&J Energy Services Inc and the "current industry downturn." Nabors posted a net loss of $891.1 million, or $3.08...

  • March 2- Onshore and offshore driller Nabors Industries Ltd reported a quarterly loss, hurt by lower drilling activity amid a slump in global crude prices. The company posted a net loss of $891.1 million, or $3.08 per share, in the fourth quarter ended Dec. 31, compared with a profit of $150.6 million, or 50 cents per share, a year earlier. Revenue rose 11.1 percent to...

  • Feb 27- Offshore driller Nabors Industries Ltd swung to a quarterly loss, hurt by a fall in drilling activity amid a slump in global crude prices. Nabors recorded charges of about $1.2 billion in the quarter related to its pending deal with C&J Energy Services Inc and the "current industry downturn." Nabors posted a net loss of $891.1 million, or $3.08 per share, in the...

  • Feb 27- Offshore driller Nabors Industries Ltd reported a quarterly loss, hurt by lower drilling activity amid a slump in global crude prices. The company posted a net loss of $891.1 million, or $3.08 per share, in the fourth quarter ended Dec. 31, compared with a profit of $150.6 million, or 50 cents per share, a year earlier. Revenue rose 11.1 percent to $1.79 billion.

  • *Brent premium over U.S. crude widens to $13. *Baker Hughes data shows pace of rig count drop slows. Both Brent and U.S. futures briefly pared gains after data from Baker Hughes Inc showed its U.S. oil drilling rig count fell only 33 to 986 this week, after a decline of only 37 last week.

  • *Baker Hughes data shows pace of rig count drop slows. Both Brent and U.S. futures briefly pared gains after data from oil services company Baker Hughes showed its U.S. oil drilling rig count fell only 33 to 986 this week, after rigs were only down 37 in the previous week. Brent April crude was up $1.27 at $61.32 a barrel at 1:28 p.m. EST, on pace to post a 15 percent...

  • Harold Hamm: Saudis view US oil as economic threat Friday, 27 Feb 2015 | 8:28 AM ET
    Harold Hamm

    Oilman Harold Hamm says the Saudi hard line on production has turned the Russian "ruble into rubble" while also squeezing U.S. producers.

  • Are oil producers running out of closet space? Wednesday, 25 Feb 2015 | 5:51 PM ET
    Oil tanks and pump jacks are seen in an oil field near Bakersfield, Calif.

    Oil supply running ahead of demand hasn't just pressured prices, it's also filling up storage space, potentially pushing crude toward another leg down.