Tag: shale

Return to $100 oil seen unlikely by Saudis amid shale surge

Brent oil, the global benchmark, declined almost 50 percent in the past year as Saudi Arabia and others in the Organization of Petroleum Exporting Countries committed to maintain output amid a global surplus.  More »

Oil production falling in three big shale plays, EIA says

Crude production at three major U.S. shale oil fields is projected to fall this month for the first time in six years, the U.S. Energy Information Administration said Tuesday.  More »

CGG open to Technip partnership after spurning takeover approach

CGG has lost more than half its market value in the past year as oil majors including Total SA slash spending on exploration.  More »

Get ready for oil deals: shale is going on sale

Sellers will be companies handicapped by heavy debt and lacking the cash reserves or hedging contracts that would have provided some insulation from the market crash  More »

$1.1 billion in fast-track funding disbursed to North Dakota communities

Gov. Jack Dalrymple signed the bill last month at a ceremony at the state Capitol.  More »

OPEC official says oil market to return to balance later this year

OPEC Secretary-General Abdalla El-Badri also urged OPEC nations to diversify their economies, many of which rely mostly on oil revenue.  More »

Oil bust threatens mortgage-backed securities in Wall Street-funded shale towns

Wall Street analysts are poring over commercial-mortgage backed securities for signs of distress as the oil crash weighs on demand for real estate in energy hubs.  More »

Chevron pulls out of shale gas exploration in Romania

The company began drilling for shale gas at its exploration well in northeastern Romania in 2014, a project that drew protests. It is also ending its three other concessions in Romania.  More »

Drilling contractor may cut 2,000 field jobs as rigs idle

Since October, when the active U.S. land rig count had reached its peak, some 400 rigs have been cut loose by the oil producers struggling to make money in the once-lucrative U.S. shale plays.  More »

U.K. lawmakers urge fracking moratorium

Hydraulic fracturing in shale for oil and gas should be put on hold in the U.K. because of risks to public health and the environment, a panel of lawmakers said.  More »

Venezuela’s Maduro sees U.S. wielding oil as weapon to ‘destroy’ nation

Venezuelan President Nicolas Maduro has avoided substantial cuts to social programs amid the slide in crude, the commodity that provides 97 percent of Venezuela’s dollars.  More »

BHP backing away from U.S. drilling

BHP Billiton Ltd., the biggest overseas investor in U.S. shale, will cut the number of its rigs there by about 40 percent as plunging petroleum prices add to concerns about lower iron ore earnings.  More »

Canadian drilling services firm files bankruptcy

A Canadian company that expanded into South Texas in 2012 with a pioneering waterless technique to fracture shale rock has filed for bankruptcy protection as it seeks to reorganize.  More »

U.A.E. sees oil drop hurting shale drillers, not OPEC

The Persian Gulf nation will stick with a plan to boost its capacity to 3.5 million barrels a day in 2017, in spite of the global supply glut.  More »

Oil drops below $45; U.S. stockpiles may speed collapse

Goldman Sachs Group Inc. said crude needs to drop to $40 a barrel to “re-balance” the market, while Societe Generale SA also reduced its price forecasts.  More »
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