Tag: production

BHP Billiton’s profits have fallen by almost half

BHP Billiton, the Australian energy giant with a major presence in Texas, reported that its profits were down 47 percent  More »

U.S. rigs are being idled, but the oil boom is not ending

The industry has become better at blasting crude out of deep underground layers of rock, according to productivity data tracked by the EIA in the major shale prospects.  More »

Statoil deepens spending cuts amid oil price rout

Statoil said Friday its earnings were eroded by sagging oil prices and impairment losses linked to its international operations.  More »

Libya Islamists seen capturing oil Field in quest for funding

The militia that captured the Al-Mabruk field Wednesday could be a local branch of Islamic State a spokesman of the national Petroleum Facilities Guard said.  More »

Report: U.S. production growth could stop this year

The study could offer hope for an industry reeling from lower commodity prices that show no imminent signs of rebounding in the face of growing U.S. production volumes.  More »

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 »
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