Schlumberger revenue down as recovery in oil patch delayed according to Chairman and CEO Paal Kibsgaard Energy services giant Schlumberger says its revenue continues to drop due to low oil prices and it expects 2016 to be another tough year. The company reported its Q3 earnings late last week and the news was not good. During the […]
Schlumberger takes hit in Q3, expects a rough 2016 Read More »
Some producers are probably too highly leveraged to survive the borrowing cut, says economist Ed Hirs As the fall banking review of oil and gas company credit fast approaches, a new survey shows that most expect borrowing against reserves to be reduced by an average of 39 per cent. The survey by Haynes and Boone, LLP was conducted prior to the fall
O&G producers’ borrowing against reserves chopped 39% in Oct.? – survey Read More »
Shale producers have plenty of room to reduce costs, small OPEC producers need high oil prices As global oil markets continue to roil, OPEC’s weak sisters are panicking and American shale producers are digging in for a long fight. Last week it was news of Algeria circulating a letter within OPEC lobbying oil ministers to restore
American shale producers putting pressure on weaker OPEC members Read More »
Oil and gas industry approval rating goes up as gasoline prices go down Americans’ views of the oil and gas industry continue to improve, with 34 per cent now saying they have a positive view of it. That is up 12 percentage points since 2012, and is one point lower than the 15-year high of 35 per
Gallup: America loving oil and gas industry Read More »
American producers pumping 11% more crude oil than a year ago A barrel of U.S. crude oil fell below $40 per barrel for the first time since the end of the global economic crisis. Friday’s fall, to $39.86, was just the latest indicator of a vast shift in the energy landscape over the past year. U.S. crude oil bounced
Crude oil drops below $40, a first since Great Recession Read More »
Baytex Energy suspending monthly cash dividend after Sept. 15 Baytex Energy Corp. (TSX:BTE) says it is “recalibrating” its business model by reducing costs in the Texas Eagle Ford shale and stoping drilling in the Peace River and Lloydminster areas in Western Canada for the rest of this year. Baytex Energy announced “difficult but necessary steps” to weather
Baytex Energy looks to reduce costs in Eagle Ford shale production Read More »
Shale revolution about to embrace big data, which will lower costs even further A lot of hand-wringing—as well as celebrating—has gone on lately about the reported collapse of the shale revolution. Environmental activists are overjoyed. They see the oil and gas industry getting its comeuppance. U.S. manufacturers, on the other hand, who have been among
Shale Revolution over? Not by a long shot as efficiency improves Read More »
New Mexico gains 3, Louisiana gains 2, Texas, Wyoming, North Dakota, Ohio gain 1 Oilfield services company Baker Hughes Inc.’s latest rig count says the number of rigs exploring for oil and natural gas in the U.S. declined by two this week to 874. Houston-based Baker Hughes said Friday 664 rigs were seeking oil and
Rig count: US down by two to 874 Read More »
Enterprise Products Partners sells Gulf offshore business for $1.5 billion to Genesis Energy Enterprise Products Partners L.P. (NYSE:EPD) announced Friday that it has closed on the sale of its offshore Gulf of Mexico pipelines and services business to Genesis Energy L.P. and plans to expand operations in Texas shale plays. The sale to Genesis netted
Enterprise Products Partners refocuses on Permian, Eagle Ford Read More »
New study shows water volumes used in fracking varies widely across country, Texas shale formations are highest A new study from the US Geological Survey finds that drillers in the Texas shale formations of Eagle Ford, Barnett and Haynesville-Bossier are among the heaviest water users in the American oil patch. The amount of water required to
Texas shale plays among biggest water users – USGS study Read More »
