Thousands of oil wells have been shut in
Something that was considered unthinkable in the past is now a reality all across the U.S oilpatch. Across the Permian Basin that is West Texas...
Author: News
Earnings Report & Marathon Oil (MRO) laid off 16% of its workforce
Marathon Oil (MRO) missed views and laid off 16% of its workforce, while halting dividend payments and buybacks. It also cut its 2020 capital spending...
EOG expects to have six rigs for the remainder of 2020
EOG Resources, Bill Thomas. Second Quarter and Full Year 2020 Forecast We entered this downturn in a position of operational and financial strength, and the...
Who won this oil price war?
As OPEC + promotes production cuts, and US oil producers reduce production, and countries around the world gradually relax restrictions on corona outbreaks, investors’ expectations...
Crude Oil jumps 5%, posting second straight week of gains
Oil prices rose on Friday and were on course for a second consecutive week of gains as U.S. producers rapidly shut crude production and more...
Russia’s unwillingness to lose market share pays off?
For Russia, it’s the unwillingness to lose market share has paid off, but for the U.S? within a month five US oil and gas companies...
Saudi Arabia raises crude oil prices
Demand worries are lingering, yet Saudi Arabia has increased crude oil prices, and U.S. oil prices fell more than 3%. Earlier in the day, after...
Liberty was built to survive tough times?
Chris Wright — Chief Executive Officer and Chairman during his Earnings Call. Our industry has been hit with two large shocks since our last quarterly...
U.S. To Withdraw American Patriot Missiles From Saudi Arabia
U.S. To Withdraw Patriot Missiles From Saudi Arabia and is considering reductions to other military capabilities. “Saudi Arabia is a very wealthy country and they’ve...
Mexico’s production costs at priority fields are below $5/bbl
Executives at Pemex said they have now achieved their goal of stabilizing years of declines in oil production and that the company is “on a...
Cairn Energy finds a dry well in Gulf of Mexico.
CAIRN Energy has suffered fresh disappointment with the drill bit in the Gulf of Mexico. Edinburgh-based Cairn told investors yesterday that drilling on the last...
Houston confronts one-two punch of COVID-19 and oil bust
Many energy jobs typically pay twice as much as other local employment and “once you start to cut those jobs out, you are taking a...
SW China’s Sichuan Province reported natural gas discovery
SW China’s Sichuan Province has reported the discovery of a natural gas field potentially containing over one trillion cubic meters of natural gas....