Oil prices were rising in early Asian trading on Monday after U.S. drillers cut oil rigs for six straight weeks.» Read More
CNBC's Kate Kelly reports natural gas drilling company Samson Resources will file for bankruptcy in September.
An expected drop in crude prices to $30 to $40 a barrel might not be enough to balance global oil markets, analyst Jamie Webster says.
OIL DRILLERS ADD RIGS, EVEN AS PRICE DIVE ANEW- BAKER HUGHES.
Aug 4- Contract oil and gas driller Nabors Industries Ltd forecast a decrease in third-quarter results, saying it expected current depressed market conditions to prevail for an extended period. Revenue from Nabors' drilling operations in the United States- the company's biggest market- fell about 40 percent in the quarter ended June 30. Net loss attributable...
Aug 4- Contract oil and gas driller Nabors Industries Ltd posted a second-quarter loss compared with a profit a year earlier, hurt by depressed drilling activity in North America due to weak oil prices. Net loss attributable to Nabors was $36.8 million, or 13 cents per share, in the quarter ended June 30, compared with a profit of $64.4 million, or 21 cents per share, a...
Chevron earnings fell well below expectations Friday, raising new questions about shareholder returns at a time when oil prices are sliding again.
Michele Della Vigna, head of European energy research at Goldman Sachs, discusses what to look out for in oil stocks and the impact of shale on the industry.
CNBC "Halftime Report" trader Jim Lebenthal is buying an energy stock he believes will move higher regardless of the direction of oil prices.
OIL DRILLERS ADD RIGS THIS WEEK DESPITE CRUDE PRICE COLLAPSE- BAKER HUGHES.
July 23- Hercules Offshore Inc, stung by slumping demand for drilling services in older Gulf of Mexico oilfields, said on Thursday it plans to file for creditor protection in about three weeks and emerge several months later with a restructured balance sheet. The company's balance sheet lists $266 million in current assets and $1.35 billion in current...
Companies are plowing billions into infrastructure projects, making long-term bets that demand for nat gas will keep growing.
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...
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...