Oil and Gas Oil and Gas Exploration

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  • This industry is the biggest job cutter of 2015 Friday, 4 Dec 2015 | 12:10 PM ET
    A floorhand works on an oil rig in the Bakken shale formation outside Watford City, North Dakota.

    After years of strong employment gains that outpaced total private sector growth, the energy sector is now the biggest job cutter of 2015.

  • Dec 2- Manslaughter charges were dropped against two former BP well site managers involved in the deadly 2010 Gulf of Mexico oil drilling disaster on Wednesday, and one pleaded guilty to an environmental crime, federal prosecutors said. Donald Vidrine pleaded guilty to a misdemeanor violation of the Clean Water Act and "admitted to negligently causing the...

  • Don't hold your breath waiting for energy mergers Wednesday, 2 Dec 2015 | 9:29 AM ET
    A worker with Apache in the Permian Basin in Mentone, Texas.

    Dealmaking in America's oil patch has slowed to a trickle, while organized restructurings have ticked up among drillers.

  • Bond market is starting to get cold feet about rates Wednesday, 2 Dec 2015 | 6:12 AM ET
    A trader works on the floor of the New York Stock Exchange.

    Fed Chair's appearances Wednesday and Thursday plus Friday's jobs report will all draw attention.

  • Why OPEC's plan to balance oil markets backfired Tuesday, 1 Dec 2015 | 8:44 AM ET
    An oil site in the middle of the Rub Al Khali ("the empty quarter") desert, Saudi Arabia.

    Instead of falling off as OPEC hoped, oil production has increased from where it was last year, and the world is still swimming in crude.

  • More Russian oil drilling shows its resolve to OPEC Monday, 30 Nov 2015 | 6:59 AM ET

    MOSCOW, Nov 30- Russian oil firms are drilling more, showing the world's top crude producer is ready for a longer fight for market share with OPEC, as its industry can carry on even if oil prices reach $35 per barrel. As OPEC prepares to meet on Friday in Vienna, Russia is sending a low key delegation for talks which are very unlikely to result in any output deal.

  • SINGAPORE, Nov 26- Brent crude oil futures eased but U.S. crude extended gains on Thursday on light trading due to the Thanksgiving holiday, after a smaller-than-expected inventory build in the United States and a fall in the number of U.S. rigs actively drilling for oil. Brent lost 11 cents, or 0.2 percent, to $46.06 a barrel as of 0525 GMT. Brent has been weighed down...

  • *U.S. oil rig count down by 9 this week, Baker Hughes says. NEW YORK, Nov 25- Crude futures erased early losses to settle steady on Wednesday after a smaller-than-expected supply build in the United States and drop in the number of U.S. rigs actively drilling for oil. Benchmark Brent crude futures settled up 5 cents at $46.17 on Wednesday, after falling more than $1 to a...

  • NEW YORK, Nov 25- Crude futures steadied on Wednesday, recovering from the lows of the day, after a smaller-than-expected supply build in the United States and drop in the number of U.S. rigs actively drilling for oil. WTI futures were down 15 cents at 42.72 a barrel by 1:39 p.m. EST, after plumbing an intraday low at $41.72. Benchmark Brent futures traded 25 cents...

  • Oil prices have moved into 'super contango' Wednesday, 25 Nov 2015 | 10:22 AM ET
    A pump jack operates at a well site leased by Devon Energy Production Co. near Guthrie, Oklahoma.

    Volatility in the oil markets continue, with prices set to plunge over the holidays, says John Kilduff. Here's why crude could fall to $30 a barrel.

  • Chart: $29 oil? Technician says that's the target Wednesday, 25 Nov 2015 | 3:34 AM ET
    Rusted out 'pump-jacks' in the oil town of Luling, Texas.

    Nymex oil may have a prolonged sideways consolidation between $38 and $48 but charts suggest that, long-term, it has further to fall.

  • OSLO, Nov 17- Norwegian oil major Statoil said on Tuesday it will pull out of Alaska's Chukchi Sea, just weeks after Royal Dutch Shell abandoned the treacherous waters there after spending billions on oil exploration work. Statoil said it will exit 16 leases it operates and its stake in 50 leases operated by ConocoPhillips. When it pulled out in late September,...

  • Melting Arctic is like 'discovering a new Africa' Thursday, 12 Nov 2015 | 5:36 AM ET

    There are great benefits to developing the Arctic's amazing wealth of resources, if done carefully, according to Iceland's president.

  • NEW YORK, Nov 10- U.S. oil and gas exploration and production company Anadarko Petroleum Corp has approached Apache Corp with a potential acquisition as low crude oil prices prompt companies to seek merger partners, according to a person familiar with the matter. On Sunday, Bloomberg News reported that Houston, Texas based Apache, which has operations in Egypt,...

  • U.S. fracking boom added 725,000 jobs -study Friday, 6 Nov 2015 | 3:20 PM ET

    BOSTON, Nov 6- A U.S. oil and gas drilling boom fueled by hydraulic fracturing technology added about 725,000 jobs nationwide between 2005 and 2012, blunting the impact of the financial crisis, according to a study released on Friday. "Supporters and opponents of fracking have been debating over the degree to which fracking is benefiting the economy versus...

  • Gov. Jerry Brown's oil research on own ranch Thursday, 5 Nov 2015 | 10:00 AM ET
    Gov. Jerry Brown's oil research on own ranch

    Governor Jerry Brown had state workers research, map and report back on any oil drilling potential for his private family land.

  • Nov 5- The U.S. natural gas boom centered around the Marcellus shale fields has probably hit a peak for now, Philadelphia Federal Reserve President Patrick Harker said on Thursday. "The robust natural gas drilling that carried this region through the worst of the Great Recession has likely plateaued in the past few years," Harker said in prepared remarks to be...

  • Lipow: Is oil ready for a rebound? Monday, 2 Nov 2015 | 12:10 PM ET
    Crude oil refinery

    While some might see crude oil falling to $30 or less, I think market sentiment may be starting to change, says Andy Lipow. Here's why.

  • CAIRO, Nov 2- Egypt aims to start natural gas production from its massive offshore Zohr field in 2017, a year ahead of schedule, oil minister Tarek El Molla said. The Zohr gas field, discovered by Italy's Eni, is the biggest in the Mediterranean, and with an estimated 30 trillion cubic feet of gas it is expected to plug Egypt's acute energy shortages and save it...

  • Oil prices should recover next year: Hess CEO Thursday, 22 Oct 2015 | 7:10 AM ET
    Pipelines and oil storage tanks in Cushing, Okla.

    Continued demand growth and falling production next year may end a protracted slump in energy prices, John Hess says.