U.S. Drillers Add Most Rigs Since Feb 2018
U.S. energy firms added the most oil rigs this week since February 2018 - primarily in the Permian shale - even though producers have been reducing spending on new drilling for much of this year.Companies added 18 oil rigs in the week to Dec.
Encana Widens N. America Reach with $5.5 bln Newfield Deal
Canada's Encana Corp will buy Newfield Exploration Co for $5.5 billion, giving the natural gas producer greater access to North America's biggest oilfields.Thursday's all-stock deal will give Encana more acreage in United States'…
SandRidge Says Approached by 17 Potential Buyers, Including Icahn
SandRidge Energy Inc said on Friday it had been approached by 17 potential bidders for a buyout, including billionaire Carl Icahn who is fighting for control of the oil and gas producer's board.Icahn has criticized SandRidge's leadership…
Small OK Shale Play Sees Big Bets from Producers
A little-known shale oil play in Oklahoma is attracting more drilling and investment as rising output from newer wells is enticing companies to boost production beyond the giant Permian basin in Texas. The Meramec formation is a…
U.S. Oil & Gas has Turned the Corner: Kemp
U.S. petroleum producers are looking forward to better times in 2017 as the industry has passed the low-point in the cycle and embarked on the road to renewed expansion. Domestic oil and gas production hit a trough in the first half…
US Oil Drillers Add Rigs for 11th Week in 12
U.S. drillers this week added oil rigs for an 11th week in the past 12, according to a closely followed report on Friday, although the rate of increases has slowed as crude prices remain below the key $50 a barrel level that spurs a return to the well pad.
EOG to Buy Yates in $2.5 bln Deal
EOG Resources Inc said on Tuesday it would buy privately held Yates Petroleum Corp and some of its subsidiaries and other entities in a deal valued at $2.5 billion to boost its assets in the Permian and Powder River basins. Oil and gas companies…
US Shale Oil Output Down for Fourth Month
Oil production from U.S. shale in August is expected to fall by the most since at least 2007, according to the U.S. agency tasked with tracking oil output, the latest sign a price rout will shrink the nation's crude output. Oil production from the largest U.S.
US Weekly Oil Rig Count Decline Slows
Energy firms pulled three rigs from U.S. oil fields this week, the smallest drop in five weeks, data showed on Friday, a sign the collapse in drilling is coming to an end as crude prices recovered after falling 60 percent from last June to March.
US Oil Drillers Pull 13 Rigs, Biggest Drop in 4 Weeks
Energy firms pulled another 13 rigs from U.S. oil fields this week, the biggest drop in four weeks, data showed on Friday, showing that a near six-month slump in activity had yet to run its course despite a rebound in crude oil prices.
U.S. Oil Rig Count Lowest Since March 2011
The number of rigs drilling for oil in the United States continued to decline this week, falling 41 to 825, the lowest rig count in four years, oil services firm Baker Hughes said in its closely watched survey on Friday. While the…
U.S. Oil Rig Count Hits Lowest Since April 2011
The number of U.S. drilling rigs in use fell sharply in the week to Friday, almost doubling the cuts of the past two weeks and hitting the lowest since April 2011, a survey showed. The number of rigs drilling for oil in the United States fell by 64 to 922…
U.S. Businesses Brace for Oil Downturn
Oil and gas production is fundamental to the U.S. economy. The sharp downturn in prices will have a negative impact on business investment in the short term before the positive impact on consumer spending takes over further down the line.
Eni Reports Successful Results of US Shale Oil Play
Italian oil and gas group Eni said on Wednesday it had posted high early production rates in its shale oil exploration project with U.S. group Quicksilver Resources in West Texas. Eni, which is focused on conventional oil and gas resources…
Magellan Shifts Focus to Crude Oil Pipelines
Magellan Midstream Partners , the U.S. Midstream company with one of the longest pipeline systems in the country, is shifting its focus to crude oil with the majority of its capital spending earmarked for crude line projects. In a presentation made to investors on Tuesday…
