May 6- U.S. oil drillers cut rigs for a seventh week in a row to the lowest level since October 2009, oil services company Baker Hughes Inc said Friday, although as analysts see an end to the nearly two-year slump in drilling for new wells. RIG-OL-USA- BHI> In 2015, drillers cut on average 18 oil rigs per week for a total of 963 for the year, the biggest annual decline since...
The impact of low oil prices and energy layoffs is reverberating across Louisiana — and being felt acutely in the bayou.
CNBC's Brian Sullivan reports from Louisiana about how the state's oil and gas industry is hurting and how unemployed workers are turning to another big industry there: fishing, shrimping and crabbing.
Louisiana's finances were already in doubt when oil prices came crashing down, and now energy layoffs are denting income and tax revenue.
The company's net income attributable to controlling interest was $249 million, or 68 cents per share, in the first quarter ended March 31, compared with a loss of $483 million, or $1.33 per share, a year earlier. Excluding items, the company earned 69 cents per share. Revenue fell 34.4 percent to $1.34 billion.
Halliburton and Baker Hughes announced the termination of their merger agreement in the face of regulatory opposition.
IEA chief Fatih Birol said on Sunday that oil prices may have bottomed, providing that the health of the global economy does not pose a concern.
CNBC's Dominic Chu reports the weekly Baker Hughes U.S. oil and gas rig count data.
CNBC's Michelle Caruso-Cabrera reports from Iran about the country's oil industry after the lifting of the nuclear sanctions.
The company's shares fell 9 percent to $9.86 in after-market trading on Monday. Net loss attributable to Nabors was $398.3 million, or $1.41 per share, in the first quarter ended March 31, compared with a profit of $123.6 million, or 42 cents per share, a year earlier. Excluding items, Nabors reported a loss of 29 cents per share, smaller than analysts' average estimate...
Independent drillers are pioneering new oil production in Alaska's North Slope and could stem a nearly three-decade output decline.
The crash in oil prices has brought a major economic hangover to states that are big energy producers.
CNBC's Scott Cohn reports on how Alaska's Trans-Alaska Pipeline System presents economic and engineering challenges for the Last Frontier.
ZURICH, April 20- Three shareholder advisory firms oppose plans by ABB to appoint Frederico Fleury Curado to its board, saying his existing positions at listed companies would leave him too little time to devote to the Swiss engineer. The 54- year-old Brazilian is already on the boards of U.S.-listed offshore oil driller Transocean and Iochpe Maxion, a Brazil-...
Here's why falling oil prices haven't dampened crude output — even for producers who are losing money on every barrel.
The downward pressure on oversupply is going to remain intense in this market, says John Kilduff, Again Capital Partners, discussing escalating volatility in the oil patch after Saudi Arabia and Iran could not reach an agreement on freeze output.
Helima Croft, Managing Director and Global Head of Commodity Strategy at RBC Capital Markets, and John Kilduff, Partner at Again Capital LLC, discuss whether we'll see a deal coming out of the oil producers' meeting in Doha.
CNBC's Dominic Chu reports the number of oil rigs online in the U.S. falling to 351 this week compared to last week's total.
Jim Cramer explains what to watch ahead of the open including deep-water driller Ensco.
The analyst who called the crude oil glut says the commodity won't make it further than $45 a barrel this year.