US oil closed at nearly a 3-week high after the US cut output forecasts and big producers signaled joint action to support the market.» Read More
While the number of rigs operating is down more than 50 percent, oil production in the U.S. actually upticked last week, John Kilduff said.
LONDON, May 14- U.S. shale producers are the new "swing producers" in the oil market, as many analysts have noted, but the status of swing producer is hugely misunderstood. Between the 1930 s and the 1970 s, the role fell to small, independent well owners of Texas, who were forced to limit their production to balance the global oil market. The swing producer role has now...
WILLISTON, N.D., May 13- North Dakota posted a surprising jump in oil and natural gas output in March, as producers leaned on newer technologies and processes to offset a slump in commodity prices. "We scratched our heads in the month of March" as to why production increased, Lynn Helms, director of the state's Department of Mineral Resources, said during a conference...
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They came from companies as large as Occidental Petroleum, which pumped nearly 200,000 bpd or over 2 percent of U.S. crude in the first quarter, and as small as Carrizo Oil& Gas Inc., which produced about a tenth as much. Bellwether shale firms including EOG Resources and Whiting Petroleum Corp maintained production forecasts from earlier this year, sticking to...
Energy companies increased by one each the number of oil rigs in the Permian basin of West Texas and eastern New Mexico- the biggest and fastest growing U.S. shale oil field- and in the Barnett in Texas. That was the first increase in the Permian since December and the first in the Barnett since March, oil services company Baker Hughes Inc said on Friday.
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Oil has been enjoying a recent rally, but it very well may have peaked and could be headed lower, analyst John Kilduff said.
Discussing the value in energy stocks like EOG Resources and Pioneer Resources, with the FMHR traders, and Rich Pzena, Pzena Investment Management. Terranova thinks EOG Resources is one of the "survivors" in the oil market.
U.S. oil prices are heading into a sweet spot that could spur the fracking industry to crank up some of the drilling it shut down.
Some of the names on the move ahead of the open.
WILLISTON, N.D., May 4- Oil and natural gas producer EOG Resources Inc plans to begin fracking hundreds of wells in North Dakota and Texas later this year if oil prices stabilize around $65 per barrel, executives said on Monday after reporting a better-than-expected adjusted profit. Whiting Petroleum Corp said last week it would add drilling rigs to its...
WILLISTON, N.D., May 4- Oil and natural gas producer EOG Resources Inc posted a better-than-expected adjusted profit on Monday as hedges and cost cuts helped offset low oil prices. It was the continuation of a theme for U.S. shale oil producers, including Whiting Petroleum Corp and Hess Corp, who have aggressively curtailed spending and relied in varying degrees...
U.S. stocks closed higher, following positive momentum from Europe, as investors looked to Fed speeches and data for signals on rate hike timing.
David Einhorn, a hedge fund manager who successfully bet against Lehman Brothers and others, found his next target: oil fracking companies.
Energy stocks should move higher this year, providing a great opportunity in these names, money manager Jerry Castellini said.
A new report from an economic research firm makes a surprising case for crude oil to eventually fall to $20 a barrel over the coming years.
The assumption is that oil firms will finish work on those wells, known as "ducks" in the industry jargon, once oil prices recover further and North Dakota activates its tax relief in response to a long market slump. "You know you have an 800- pound gorilla that is potentially going to come after you if the price goes up," Jackson Hockley, an analyst at wealth manager...