Substantially all activity is focused in Marcellus for 2016, Range Resources expects 8-10% increase in production Fort Worth, TX – Range Resources Corporation says it lost money in Q4 and is cutting its capex by 45 per cent for 2016. “Range continued to perform well operationally during the fourth quarter, despite the challenges from declining […]
Range Resources reports Q4 losses, 2016 capex reduced by 45% Read More »
Oil prices surge Thursday afternoon NEW YORK _ A late-day surge pushed U.S. stocks sharply higher Thursday, propelled by a recovery in energy companies and bank stocks, which have been hit hard this year. Investors were also encouraged by positive economic data, including improved orders for long-lasting goods that served as a sign that businesses
Rising oil prices help US stocks post solid gain Read More »
Helix Energy’s well intervention vessel utilization in Q4 2015 decreased to 47% from 60% in Q3 2015 Helix Energy Solutions Group, Inc. reported a net loss of $403.9 million, or $(3.83) per diluted share, for Q4 2015 compared to net income of $8. million, or $0.08 per diluted share, for the same period in 2014 and net income of $9.9
Helix Energy: Q4 $403 million loss due to reduced offshore drilling Read More »
Repsol reports $2.26B loss in Q4 due to a write-down of assets MADRID _ Spanish energy company Repsol says it posted a net loss of 2.06 billion euros ($2.26 billion) in the fourth quarter of 2015 due primarily to a write-down of assets related to the slump in oil prices. That’s a big change from
Repsol sinks deep into the red in Q4 after oil price hit Read More »
Chesapeake Energy’s 2015 daily production averaged 679,200 boe, year-over-year increase of 8% Chesapeake Energy shares are tumbling after the company announced it lost $14.8 billion in 2015 and plans to cut its capex by 57 per cent for the current year. For the 2015 full year, Chesapeake reported a net loss available to common stockholders
Chesapeake Energy loses $14.8 billion in 2015, cuts capex 57% Read More »
Fitch warns about banks’ exposure to oil field services, commercial loans tied to energy production NEW YORK – Canada’s commodity-reliant economy will be facing challenges that pose new risks to Canada’s major banks if oil prices remain “lower for longer” and/or this creates a macroeconomic shock to the economy, according to Fitch Ratings. “So far Canadian Banks have
Canadian banks vulnerable to oil shock – Fitch Read More »
Basic Energy Services expects further 10% revenue drop in Q1 2016 Forth Worth-based oilfield company Basic Energy Services suffered another tough quarter to close out 2015, but says it is well positioned if prices bounce back in mid-2016 as expected. The company announced its Q4 financial results last week that included a 15 per cent revenue decline
Basic Energy Services Q4 revenue drops 15%, hoping for 2016 relief Read More »
Closure of All American Pipeline in May 2015 cut back Venoco production by 50% Venoco Inc. says the closure of a California pipeline after a huge 2015 leak has affected its operations and is partly to blame for management’s decision to skip a $13.7 million interest payment due Feb. 16. The Denver-based company, which operates in southern
Venoco misses interest payment, blames Calif. pipeline closure Read More »
Deloitte says E&Ps running out of options to battle liquidity crisis as oil prices remain low A new study from consultancy Deloitte finds that one-third of global oil companies are at high risk of bankruptcy as continued low prices strains corporate finances. The study, “The crude downturn for exploration & production companies: One situation, five responses,”
One-third of world’s oil companies risk bankruptcy – Deloitte Read More »
Oil price down after big jumps earlier in the week NEW YORK _ Stocks are inching lower Friday as the price of oil retreats, pulling energy companies down. Tech stocks are edging higher following a strong report from chipmaking equipment company Applied Materials, but retail stocks are sliding further after a disappointing report from department
Oil price retreats, energy stocks edge lower Read More »
