Chevron production fell slightly to 2.7 million boe/d By Ernest Scheyder Jan 27 (Reuters) – Helped by rising oil prices, Chevron Corp swung to a quarterly profit on Friday that still fell short of analyst expectations, dragging down the company’s share price, and with it, the Dow Jones industrial average index. The results showed that […]
Chevron profit miss drags down stock, Dow Jones index Read More »
Indiana, environmental groups concerned Peabody Energy fails to address future clean-up costs By Tracy Rucinski ST. LOUIS, Jan 26 (Reuters) – Peabody Energy Corp , the world’s largest private-sector coal miner, defended its bankruptcy exit plan in court on Thursday against opponents including state regulators, shareholders, environmental activists and even former executives. Peabody asked U.S. Bankruptcy
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Saudi Aramco IPO expected to be the world’s biggest, is centrepiece of diversification plan By Rania El Gamal, Reem Shamseddine and Alex Lawler DUBAI/KHOBAR, Saudi Arabia/LONDON, Jan 26 (Reuters) – State oil giant Saudi Aramco has tasked two U.S. industry leaders in oil reserves auditing to review the content of its deposits as it pushes ahead
Saudi Aramco selects U.S. firms to audit its reserves for IPO – sources Read More »
Last peak in hedge funds’ long-short ratio in natural gas heralded the start of big slide in prices By John Kemp LONDON (Reuters) – The threat of liquidation hangs over oil and gas prices in the short term as hedge funds have built the most bullish positions in both commodities since 2014. Hedge funds are
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Baker Hughes posts bigger than expected Q4 loss By Vishaka George and Swetha Gopinath Jan 26 (Reuters) – Oilfield services provider Baker Hughes Inc, which is being acquired by General Electric Co , said crude oil prices would need to rise by roughly another 15 per cent to spur producers to spend more on drilling outside
Baker Hughes says only higher oil prices will spur int’l spending Read More »
Hess Corp expects rebound in activity in 2017 Jan 25 (Reuters) – U.S. oil producer Hess Corp posted a smaller-than-expected quarterly loss on Wednesday, helped by cost cuts, and executives forecast a rebound in activity this year as crude prices edge higher. The cautiously optimistic outlook for 2017 comes as the number of drilling rigs and
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Forbes Energy owns well servicing rigs in TX, LA and PA CHICAGO, Jan 23 (Reuters) – U.S. oilfield services company Forbes Energy Services Ltd said it expected to “promptly” emerge from bankruptcy after filing a Chapter 11 plan on Monday with a prepackaged deal to exchange $280 million of debt for equity. Dozens in the
Forbes Energy eyes quick emergence from prepackaged Chapter 11 Read More »
Halliburton warned of weaknesses in markets outside North America Jan 23 (Reuters) – Halliburton Co, the world’s No. 2 oilfield services provider, reported its first quarterly operating profit in North America in a year as oil producers put more rigs back to work in North American shale fields. The company, however, warned of weakness in
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Schlumberger Q4 revenue down 8 per cent By Swetha Gopinath and Arathy S Nair Jan 20 (Reuters) – Schlumberger NV said on Friday that it does not expect a “dramatic” short-term recovery in international markets, compared with North America where shale producers are already ramping up drilling activity. The world’s No.1 oilfield services provider reported a
Schlumberger expects international markets recovery in late 2017 Read More »
Peabody Energy not ‘hopelessly insolvent’: Hedge fund By Tracy Rucinski ST. LOUIS, Jan 19 (Reuters) – Peabody Energy Corp , the world’s largest private-sector coal producer, is squaring off in court with shareholders who claim their stock should not be wiped out in the company’s $8 billion Chapter 11 bankruptcy, given a rise in prices for
Peabody Energy, shareholders face off in bankruptcy court Read More »
