News
As oil nears $50 a barrel, will renewed drilling undercut price gains?
The oil market is turning its attention back to the U.S. as more of its rigs return to work following a surge to $50 a barrel, raising concern that a production rebound may stifle crude’s...
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Devon Energy to sell Texas, Oklahoma oil fields
Devon Energy Corp., the energy producer that’s targeted $3 billion of asset sales to fund drilling and lower debt, agreed to sell fields in Texas and Oklahoma and a royalty interest in the northern Midland...
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Moody’s downgrades Halliburton and Baker Hughes
Moody’s cut the credit rating by two notches of the two, Houston-based oil field services giants — the world’s second and third-largest services companies after Schlumberger. Their ratings were dropped from A2 down to Baa1,...
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Some drillers set to boost spending as oil rises, Evercore says
HOUSTON – The long financial drought that has deeply bruised energy service companies may be nearing an end. As oil prices hover near $50 a barrel, record oil company spending cuts the past two years...
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Oil rig count makes first big jump of 2016
The number of rigs actively drilling for oil in the U.S. made its first sizable increase of the year this week now that the price of oil has increased for more than three months, according...
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