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Baker Hughes Inc

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  • Oil ends up 1.9% after slight fall in US rig count Friday, 5 Jun 2015 | 2:37 PM ET
    Rusted out 'pump-jacks' in the oil town of Luling, Texas.

    Oil seesawed in volatile trade on Friday, with Brent briefly hitting seven-week lows.

  • 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...

  • DRILLERS ADD OIL RIGS IN PERMIAN SHALE, OTHER BASINS, AS TOTAL FALLS THIS WEEK- BAKER HUGHES.

  • WASHINGTON, June 5- U.S. job growth accelerated sharply in May and wages picked up, signs of strong momentum in the economy that bolster prospects for a Federal Reserve interest rate hike in September. Nonfarm payrolls increased 280,000 last month, the largest gain since December, the Labor Department said on Friday. This leaves the Fed on course to start hiking...

  • WASHINGTON, June 5- U.S. job growth accelerated sharply in May and wages picked up, signs of momentum in the economy that bolster prospects for an interest rate hike in September. Nonfarm payrolls increased 280,000 last month, the largest gain since December, the Labor Department said on Friday. "This certainly puts more ammunition in the Fed's plan to start...

  • *Average hourly earnings increase eight cents. WASHINGTON, June 5- U.S. job growth accelerated sharply in May and wages picked up, signs of momentum in the economy that could put a September interest rate hike from the Federal Reserve back on the table. Nonfarm payrolls increased 280,000 last month, the largest gain since December, the Labor Department said on...

  • VIENNA, June 5- When it comes to whether Saudi Arabia will invest billions of dollars to increase its ability to pump more oil, boosting the world's only large stand-by reserve, minister Ali al-Naimi has a quick answer: show me the return. Naimi, speaking informally to reporters in Vienna on Thursday, was asked whether the kingdom needs to lift its capacity now that...

  • WASHINGTON, June 5- U.S. job growth was likely solid in May and wages probably picked up a bit, suggesting sufficient momentum in the economy for the Federal Reserve to raise interest rates later this year. The Labor Department will release its closely followed employment report at 8:30 a.m. on Friday amid concerns over the economy's inability to rebound...

  • LONDON, June 4- The slump in crude prices has jolted the oil industry into deep cost cutting which, unlike the previous downturn, could last for a few years at least. A partial rebound in crude prices this year will give service companies such as Baker Hughes, Schlumberger and Petrofac little respite. "Higher prices have led to cost inflation over the past years and...

  • VIENNA, June 4- When it comes to whether Saudi Arabia will invest billions of dollars to increase its ability to pump more oil, boosting the world's only large stand-by reserve, minister Ali al-Naimi has a quick answer: show me the return. Naimi, speaking informally to reporters in Vienna on Thursday, was asked whether the kingdom needs to lift its capacity now that...

  • 5 oil stocks to buy ahead of key data Tuesday, 2 Jun 2015 | 7:01 PM ET
    An oil pump jack in the oil town of Gonzales, Texas.

    "Fast Money" traders discussed how to play oil stocks ahead of Wednesday's inventories and Friday's rig count.

  • The U.S. oil fracker's dilemma: crouch or pounce? Monday, 1 Jun 2015 | 1:00 AM ET

    HOUSTON, June 1- U.S. shale oil producers, having weathered the worst price plunge in their industry's brief history, now face a dilemma: whether to stay in a defensive crouch after slashing their rig fleets, or start drilling more wells to capture a partial recovery in prices. The June 5 meeting of U.S. rivals in the Organization of the Petroleum Exporting Countries...

  • NEW YORK, May 29- Oil prices jumped almost 5 percent on Friday, their biggest rally in a month and a half, as a steady U.S. dollar and a bigger than expected drop in oil rigs set off a renewed rush of bullish bets. Brent crude settled at $65.56 a barrel, up $2.98, or 4.8 percent, on the day. U.S. crude has risen by as much as $4 a barrel after hitting a one-month low just a day ago,...

  • That was the 25th straight weekly decline, bringing the total rig count down to 646, the lowest since August 2010, oil services company Baker Hughes Inc said in its closely followed report. The market has been eyeing the U.S. rig count and the increases of a few rigs in some basins over the past few weeks ahead of next week's meeting of the Organization of the...

  • DRILLERS ADD ONE OIL RIG IN EAGLE FORD SHALE BASIN IN SOUTH TEXAS THIS WEEK- BAKER HUGHES.

  • *Number of rigs in Marcellus has dropped- Baker Hughes. The U.S. Energy Information Administration says production in the fast-growing field in Pennsylvania and West Virginia is set to remain flat for the next few years before beginning a very slow decline primarily because of depressed gas prices. The number of rigs in the area has dwindled in recent months to...

  • The next fracking boom could be in Saudi Arabia Tuesday, 26 May 2015 | 12:25 PM ET
    Workers at an oil facility near Riyadh, Saudi Arabia.

    Technology made the US oil shale boom. New technology may allow oil giants Saudi Arabia and Norway to become the next fracking boomers.

  • US oil ends lower after weekly rig count falls by 1 Friday, 22 May 2015 | 2:44 PM ET
    An oil pump jack in the oil town of Gonzales, Texas.

    The weekly rig count has fallen every week since Dec. 12, though the pace of declines has fallen in recent weeks.

  • Overall, U.S. drillers reduced the number of active rigs by just one this week, oil services company Baker Hughes Inc said. In the latest week, drillers added three oil rigs in the Niobrara basin in Wyoming and Colorado and two in the Eagle Ford in South Texas, according to the closely followed report. The Permian basin in western Texas and eastern New Mexico, the...