OIL DRILLERS ADD RIGS THIS WEEK DESPITE CRUDE PRICE COLLAPSE- BAKER HUGHES.» Read More
July 23- Land rig provider Patterson-UTI Energy Inc swung to a quarterly loss as oil and gas producers cut back on drilling amid a steep drop in crude prices. The company reported a net loss of about $19 million, or 13 cents per share, in the second quarter ended June 30, compared with a profit of $54.3 million, or 37 cents per share, a year earlier. Revenue fell nearly 38...
Halliburton, a provider of drilling services to oil and gas operators, earned $54 million, or 6 cents per share, for the period ended June 30. A year earlier the Houston company earned $774 million, or 91 cents per share. The average estimate of 17 analysts surveyed by Zacks Investment Research was for adjusted earnings of 29 cents per share.
OIL DRILLERS CUT RIGS THIS WEEK AS CRUDE PRICES COLLAPSE- BAKER HUGHES.
As oil slid on speculation of an Iran nuclear deal, Dennis Gartman of "The Gartman Letter" said one group could be a big beneficiary.
OIL DRILLERS ADD RIGS FOR A SECOND WEEK IN A ROW- BAKER HUGHES.
Congress should flip the calendar to 2015 and repeal the ban on crude-oil exports, says CME Group President Terry Duffy.
A sudden oil price downturn puts drillers with weak balance sheets in a tough position ahead of a critical test of their health.
SAO PAULO, July 6- Offshore oil driller Ensco Plc said in a statement on Monday it has found no evidence of wrongdoing by its employees or other representatives in a regular compliance review of operations in Brazil. The statement was in response to comments from Brazilian prosecutor Carlos Fernando dos Santos Lima on Thursday alleging that Jorge Zelada,...
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.
LONDON, June 29- Britain on Monday accused Argentina of a politically motivated and illegal attack on the nascent oil industry around the disputed Falkland Islands, after Buenos Aires said it would seek to seize the assets of drillers operating in region. He said Argentina was conducting a "flagrant and unacceptable campaign to strangle the Falkland Islands...
The sharp drop in oil prices is squeezing drilling operations in North Dakota and the Bakken Formation. Will players in the region survive?
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...