Archives for July 2016
Schlumberger begins switch to offense after calling the ‘bottom’ of the bust
Chairman and CEO Paal Kibsgaard said Friday the “challenging” negotiations have begun to undo the deep discounts offered to oil producers during the downturn for services companies to maintain or grow their market shares. But...
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Market Currents: Iran crude oil loadings drop in June
Crude is heading lower into the weekend as supply glut fears persist, while further endorsement of a sell-off is provided by a stronger dollar. Hark, here are seven things to consider in crude markets today:...
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Southwestern Energy to nearly double 2016 spending
HOUSTON – Natural gas driller Southwestern Energy plans to nearly double its annual spending to $775 million, recalculating how much drilling it can afford this year after a big secondary stock sale and as energy...
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After March protest BOEM to take offshore leasing online, ending public auctions
After the federal government’s last auction for offshore oil and gas was swarmed by protesters, the Bureau of Ocean Energy Management has decided to bring an end to the tradition of holding public auctions. The...
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U.S. drillers to cut $150 billion from budgets by 2017, Wood Mac says
Oil producers across the continental United States have snipped more out of their drilling budgets than their rivals in other countries, with plans to shed $150 billion by 2017, Wood Mackenzie says. The energy research...
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