Oil prices up in choppy trading Oil prices rose slightly in seesaw trading on Tuesday as analysts weighed an expected drop in US crude stocks against doubts about the success of the OPEC supply cut deal. Brent crude was up 50 cents to $52.10/barrel at 1:17 p.m. EST and US crude futures were up 33 cents to $49.56/barrel. Analysts […]
Oil prices rise ahead of US crude stocks data Read More »
Investor says Cenovus Conoco buy dilutes value of shares Cenovus shareholder Coerente Capital Management has filed a complaint with the Ontario Securities Commission, hoping to stop the Canadian oilsands company from purchasing some ConocoPhillips assets. In a Reuters report, Len Racioppo, Coerente’s managing director said the new stock issued to help pay for the deal has significantly
Cenovus shareholder looks to regulator to stop ConocoPhillips assets buy Read More »
Oil prices down about 1 per cent Oil prices fell about 1 per cent in trading on Monday on concerns that an extension of OPEC cuts has not been confirmed, along with Russia’s claims that it will lift its output if the OPEC deal lapses and increasing US shale production. Reuters reports Russian officials and oil firms say Russia’s oil
Oil prices fall on increased US output, lack of OPEC agreement Read More »
Halliburton shares up in morning trading Halliburton is reporting a slightly better than expected quarterly profit and revenue thanks to more oil producers completing nearly as many wells as they drill, a major reversal from recent times when companies would leave wells unfinished and wait for higher oil prices. During the first quarter of 2017,
Halliburton Q1: Better than expected profit from boost in well completion Read More »
Schlumberger re-hiring employees, bringing equipment back online To meet growing demand from US shale producers, Schlumberger is re-hiring employees and reviving equipment that had been left dormant when oil prices dropped in 2014. On Friday, the company’s CEO warned that the renewed activity comes with increased costs, according to a report by Reuters. “We will have some headwinds
Schlumberger: Reactivation costs will likely squeeze margins Read More »
Demand for payment provides Savanna with 5 business days to pay termination fee Western Energy Services Corp. announced it issued a formal demand for payment to Savanna Energy Services Corp. for payment of a termination fee in the amount of $20,000,000 in respect of the arrangement contemplated by between Western and Savanna, according to a Western
Western Energy demands $20 million termination fee from Savanna Energy Read More »
By 2019, Encana expects Montney assets will produce 70,000 barrels per day of liquids Encana says it continues to successfully advance its five-year plan which it expects will deliver industry-leading cash flow growth and returns, according to a press release. The company’s Montney asset plays an integral part in this plan and will contribute significant
Encana: On track to maximize value from condensate-rich Montney Read More »
WTI oil prices down by 17 cents, Brent up by 6 cents Oil prices took a bumpy ride in trading on Thursday and ended mixed after as investors weighed rising US production, geopolitical uncertainties and the possibility that the OPEC supply cut deal will likely be extended. WTI futures were down for the fourth straight
Oil prices mixed due to rising US production, geopolitical uncertainties Read More »
OPEC’s credibility is on the line: stocks need to show significant draw during 2nd and 3rd quarters By John Kemp LONDON, April 20 (Reuters) – OPEC and some of the most important hedge funds active in commodities reached an understanding on oil market rebalancing during informal briefings held in the second half of 2016. OPEC committed to
Hedge fund confidence in OPEC starts to fray: Kemp Read More »
For upstream oil deals valued over $100 million in Permian, 9 were in Delaware Basin versus 5 in Midland Basin Q1 2017 global upstream oil and gas M&A transaction value was $61 billion, the strongest first quarter in the past ten years and almost half the $130 billion in 2016, according to oil and gas
Global upstream oil and gas M&A activity surges to $61 Billion Read More »
