Oil and Gas Oil and Gas Exploration

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  • This energy investment has 30% upside: Analyst Tuesday, 29 Dec 2015 | 12:26 PM ET
    A Chevron petroleum storage tank is seen at Port Everglades in Fort Lauderdale, Florida.

    Investors looking for upside that comes with risk-oriented energy plays can find similar returns in Chevron, Sam Margolin of Cowen said.

  • Oil firms keep wells in reserve on price surge hopes Saturday, 26 Dec 2015 | 9:12 AM ET
    A contractor works in the control room at an Anadarko Petroleum Corp. oil rig site in Fort Lupton, Colorado.

    Some drilled oil and natural gas wells are currently not producing, but are ready to be tapped quickly if prices begin to rise. NYT reports.

  • After-hours buzz: Cal-Maine, Micron, Hess & more Wednesday, 23 Dec 2015 | 5:56 PM ET
    Traders work on the floor of the New York Stock Exchange.

    Check out the companies making headlines after the bell Wednesday: Cal-Maine Foods, Micron Technology, Hess Corporation & more

  • Roughest quarter for oil coming: Former Shell exec Tuesday, 22 Dec 2015 | 11:32 AM ET
    Oil workers make a pipe connection on a drilling rig near Encinal, Texas.

    The recent leg lower in oil prices is no surprise, and the oil rout will get worse before it gets better, John Hofmeister says.

  • Going against the flow: Hamm calls '16 oil rebound Monday, 21 Dec 2015 | 9:04 AM ET
    A floor hand helps line up a pipe while drilling for oil in the Bakken shale formation near Watford City, North Dakota.

    Oilman Harold Hamm says 2016 will be the year that oil markets recover. Here's when he thinks it will happen.

  • Big investors predict catastrophe for oil industry Monday, 21 Dec 2015 | 8:00 AM ET
    An oil and gas well site outside Williston, N.D.

    Hedge fund billionaires Leon Cooperman and John Arnold tell CNBC many energy companies will go bankrupt if oil prices stay low.

  • EDMONTON, Alberta, Dec 21- In an auction room a few dozen potential bidders scan a picture of a used oil drilling rig projected on the wall while an auctioneer raises his voice to drum up enthusiasm. Initial asking price on the rig- complete with water, mud and shale tanks- was C $150,000 and it eventually sold for C $52,500, a fraction of a cost of a new rig that can fetch...

  • SINGAPORE, Dec 21- U.S. crude oil prices dipped in early Asian trading on Monday, heading towards last week's 2015 lows as a rebound in drilling activity, a strong dollar and brimming storage facilities weighed on prices. West Texas Intermediate crude futures were trading at $34.48 per barrel at 0008 GMT, down 25 cents from their last settlement and close to last...

  • SARAJEVO, Dec 17- Australia's Key Petroleum Ltd has expressed interest in oil and gas exploration in Bosnia after Shell Exploration Co, part of Royal Dutch Shell, pulled out, the Bosnian region's energy minister said on Thursday. The minister, Nermin Dzindic, said a Key Petroleum delegation would visit Bosnia in January for talks on getting concessions for...

  • Obama's offshore-drilling mistake Tuesday, 15 Dec 2015 | 7:00 AM ET
    President Barack Obama

    Beyond the Paris climate talks, THIS crucial decision could jeopardize Obama's environmental legacy, says Sierra Weaver.

  • Big oil to slash spending — but not production Friday, 11 Dec 2015 | 10:59 AM ET
    A floorhand operates a Chevron oil drilling rig near Taft, California.

    The projected declines in 2016 non-OPEC crude production will come from shale drillers, not oil majors, analysts tell CNBC.

  • Dec 10- ConocoPhillips, the largest U.S. independent oil company, plans to reduce capital spending by 25 percent next year and sell more non-core assets as it looks to shore up its finances amid a prolonged slump in oil prices. ConocoPhillips expects to spend a bulk of next year's budget on U.S. shale fields in Texas and North Dakota, and on drilling operations in...

  • Arnold: Half of US energy industry may go under Thursday, 10 Dec 2015 | 12:50 PM ET
    John Arnold, founder of Centaurus Advisors LLC.

    Legendary energy trader billionaire, John Arnold, tells CNBC many U.S. energy companies will go bankrupt in 2016. Here's why...

  • After 100 years in NZ, Shell looks at pulling out Wednesday, 9 Dec 2015 | 9:59 PM ET

    Shell said on Thursday it was reviewing its business interests in New Zealand as it seeks to streamline its portfolio amid a slump in energy prices.

  • Dec 9- Chevron Corp said on Wednesday it would slash its budget by 24 percent next year as it aims to control spending after oil prices fell more than 50 percent in the past 18 months. The company plans to spend $26.6 billion in 2016 across the globe, with the bulk of spending on international oil and gas exploration and production projects. Shares of Chevron fell 0.5...

  • Oil output declines significant in 2016: Petrie Wednesday, 9 Dec 2015 | 9:35 AM ET
    Pipeline and crude storage tanks in Cushing Oklahoma.

    One of the biggest factors in oil markets next year will be the impact of capital spending cuts on crude production, Tom Petrie said.

  • Investors pick drilling winners as oil nears $35 Tuesday, 8 Dec 2015 | 4:16 PM ET
    A floor hand helps line up a pipe while drilling for oil in the Bakken shale formation near Watford City, North Dakota.

    A number of drillers saw their stock rise on Tuesday despite oil prices hitting their lowest levels since 2009.

  • NEW YORK, Dec 8- Oil price swings weighed on stocks and exchange-traded funds again on Tuesday, hitting the shares of energy producers for the fifth consecutive trading day. Kinder Morgan lost 4.8 percent, while Exxon Mobil fell 1.9 percent, Chevron Corp was down 0.4 percent and Schlumberger Ltd fell 1.2 percent. The SIG Oil Exploration and Production index hit...

  • Beware oil shorts at this level, experts warn Tuesday, 8 Dec 2015 | 2:04 AM ET
    An oil refinery in Saudi Arabia.

    OPEC's decision to leave its oil production quota unchanged is hammering oil markets, but some experts are skeptical about even lower prices.

  • TOKYO, Dec 8- Japan's Nikkei share average fell on Tuesday, with sharp declines in oil and commodity shares offsetting news that the economy had dodged a recession in the third quarter. Inpex Corp tumbled 5.4 percent and Japan Petroleum Exploration shed 3.5 percent. Mitsubishi Corp dropped 2.3 percent, Sumitomo Corp shed 2.4 percent and Mitsui& Co declined 2.5...