Oil and Gas Oil and Gas Exploration

  • NEW YORK, Sept 30- U.S. oil drilling has seen its best quarter since crude prices tumbled two years ago mainly due to small operators returning to the well pad, but analysts say the continued recovery in the rig count depends on whether OPEC's output reduction plan can bring the market back to $50 a barrel. "Given oil's move from $50 to $45, this likely hit the cash flows...

  • NEW YORK, Sept 30- U.S. oil drilling has seen its best quarter since crude prices tumbled two years ago mainly due to small operators returning to the well pad, but analysts say the continued recovery in the rig count depends on whether OPEC's output reduction plan can bring the market back to $50 a barrel. "Given oil's move from $50 to $45, this likely hit the cash flows...

  • Efromovich had taken the loans to invest in shipyards in Brazil with his Synergy Group conglomerate, which provides oil exploration services and operates domestic airlines. Latin American airlines have been hit by economic woes and a slump in the value of currencies in the region, and have shifted flights away from countries such as Brazil and Venezuela to...

  • *Company struggling to recover after oil rout, Iraq conflict. LONDON, Sept 29- Tony Hayward, the former BP boss, is set to step down next year as chairman of Genel Energy, which he founded in 2011 and became the biggest oil and gas producer in Iraqi Kurdistan, three sources close to the company said. The 59- year-old, whose tenure at BP ended abruptly following the deadly...

  • Saudi Oil Minister Khaled al-Falih at 15th International Energy Forum in Algiers on September 27. An informal OPEC meeting was held on the sidelines of the forum in Algeria.

    Kicking a production freeze deal down the road was probably the best oil bulls could hope, strategists told CNBC.

  • Film based on 2010 oil rig explosion set for release

    Peter Berg, director of new film Deepwater Horizon, explains the hardest part about making his new film.

  • JERUSALEM— Israel's Delek Group, one of the developers of the country's biggest natural gas reservoir, says it has signed a deal to sell gas to neighboring Jordan. Delek says revenues could amount to $10 billion. Resource-poor Israel announced the discovery of sizeable offshore natural gas deposits about five years ago, and a partnership of Israeli and U.S....

  • A pump jack operates at a well site leased by Devon Energy Production Co. near Guthrie, Oklahoma.

    Oklahoma is now the most earthquake prone state, according to federal data. In this case, the reason appears to be man-made.

  • CARACAS, Sept 23- Venezuela's state oil company Petróleos de Venezuela said on Friday oil service companies that won $3.2 billion in contracts to drill wells in the crude-rich Orinoco Belt would supply $700 million in financing for the projects. Horizontal Well Drillers has a 48- month credit line from Canada's Callidus Capital for $350 million to finance...

  • SINGAPORE/ JAKARTA, Sept 23- Indonesia's removal of taxes on oil and gas explorers is a good first step, but more is needed to lure investment from companies that have cut budgets and laid off staff after a precipitous plunge in prices, industry analysts said on Friday. "Reversing some of the changes introduced with GR79 is a significant step in the right direction,...

  • JAKARTA, Sept 22- Indonesia said on Thursday it will eliminate taxes on oil and gas exploration this week in an effort to bolster investment in the country's flagging oil and gas sector. The government has been trying to revive flagging oil and gas production but investors have been deterred by low global oil prices and regulatory and investment risks in...

  • Oil workers aboard the Agbami floating production, storage and offloading vessel, operated by Chevron Corp., in the Agbami deepwater oilfield in Nigeria.

    BMO Capital initiates its Chevron coverage with an outperform rating.

  • SINGAPORE, Sept 13- Oil prices fell on Tuesday on concerns over increased drilling in the United States and as investors took profits after oil prices rose close to 1 percent in the previous session. Brent crude futures were trading at $47.67 per barrel at 0639 GMT, down 65 cents, or 1.4 percent, from their last settlement. China's industrial output grew the fastest...

  • SINGAPORE, Sept 13- Oil prices fell on Tuesday on concerns over increased drilling in the United States and as investors took profits after oil prices rose close to 1 percent in the previous session. Brent crude futures were trading at $47.67 per barrel at 0639 GMT, down 65 cents, or 1.4 percent, from their last settlement. China's industrial output grew the fastest...

  • Earthquakes and energy in Oklahoma

    CNBC's Brian Sullivan speaks with Todd Halihan, Oklahoma State University Geologist, about the correlation between increased seismic activity in Oklahoma and oil and gas fracking in the state.

  • Exploring the SCOOP and STACK

    CNBC's Brian Sullivan reports on oil production in Oklahoma's SCOOP and STACK regions.

  • Oil is headed back to the $30s, says trader Anthony Grisanti. Here's why he thinks the recent rally won't hold.

  • TIPUTINI, Ecuador, Sept 7- Ecuador began drilling for oil on Wednesday near an Amazon nature reserve known as Yasuni, a site that President Rafael Correa had previously sought to protect from development and pollution under a pioneering conservation plan. Correa in 2007 asked wealthy countries to donate $3.6 billion to offset revenue lost by not drilling in...

  • Traffic drives along US 98 as Hurricane Hermine approaches on September 1, 2016 in Eastpoint, Florida.

    East Coast refiners are built to withstand Cat-3 storms, but operations could still be affected, oil expert John Kilduff says.

  • Oil and gas exploration has potential: Israel Minister

    Israel might soon become a major source of natural gas, says Yuval Steinitz, Minister of National Infrastructure, Energy & Water.