Tag: production

Alaska faces lean budget times as oil prices plunge

Alaska heavily relies on oil revenue to fund the cost of state government, but the fall in prices has contributed to an estimated 80 percent decline in the state’s share of production taxes from last year.  More »

U.S. benchmark oil briefly trades above international oil

Both crudes looked to settle lower on the day and to extend a run of steep losses.  More »

Venezuela, Saudi leaders meet and talk oil prices in Riyadh

The official Saudi Press Agency reported that the leaders discussed areas of cooperation between the two OPEC-member countries and ways to promote bilateral ties  More »

Halcón offers second round of budget cuts as crude continues fall

The Houston-based company said yesterday it will spend between $375 million and $425 million drilling and completing new wells this year.  More »

Crude price slump exposing oil field risk takers

For the biggest explorers, the impacts of slumping prices are dramatic.  More »

U.S. rig count grows despite oil price slump

Future output in the U.S. is at risk with oil trading below $80 a barrel.  More »

Eagle Ford produces billionth barrel

More than 70 percent of that production has occurred in the last two years.  More »

AAA: Expect gas prices to fall at least 15 cents over holidays

Gas prices are dropping to levels not seen in almost five years.  More »

Oil tumbles below $65 as OPEC seen failing to slow shale

OPEC last week resisted calls from members including Venezuela, Iran and Iraq to reduce its production target of 30 million barrels a day at a meeting in Vienna.  More »

Russian oil-output cuts to support OPEC seen as unlikely

Brent crude oil futures rose as much as 0.8 percent to $80.30 a barrel in London trading Tuesday.  More »

Iran vows to guard oil-market share as OPEC to review output

Iran’s crude output has languished under international economic sanctions that deter foreign energy investors and limit its exports to approximately 1 million barrels a day.  More »

Confused OPEC watchers are more divided than ever

To understand just how contentious next week’s OPEC meeting will be, take a look at the confusion it’s created among professionals paid to predict the outcome.  More »

Russian FM rejects intervention in oil production

Sergei Lavrov said both Russia and Saudi Arabia did not want oil production targets to be affected by “political or geopolitical designs.”  More »

Shale drillers keep output high despite oil price decline

Companies said they expect to pump more from their prime properties while cutting back in their least productive prospects.  More »

Statoil projects big returns from massive North Sea oil field

The Norwegian oil conglomerate estimates the field could generate as much as 650,000 barrels of oil per day.  More »
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