Occidental Petroleum Corp., the largest oil producer in the giant Permian Basin, has ceded to activist investor Carl Icahn’s demands and announced deep spending cuts in a bid to survive Continue Reading
The shale revolution that made the US the world’s biggest oil and gas producer and offered the prospect of energy self-sufficiency has run out of steam, as drillers slash spending Continue Reading
Oil companies are already beginning to pare back their activity in the Permian, with cutbacks coming not just from smaller drillers, but also the oil majors . Chevron said on Continue Reading
Schlumberger and Halliburton joined the ranks of oil companies on a spending-cutting spree amid the steep oil price drop. Schlumberger said it would slash its spending by 30 percent less Continue Reading
Highlights Oil prices are plunging on fears of low demand, surging supply Bakken shale operators are sitting on a DUC inventory of ~420 wells How many wells could be brought Continue Reading
U.S. crude oil refinery inputs averaged 15.8 million barrels per day during the week ending March 20, 2020 which was 18,000 barrels per day more than the previous week’s average. Continue Reading
Oil and gas companies are cutting spending plans in response to the new coronavirus and a push by Saudi Arabia and Russia to ramp up output. International benchmark prices LCOc1 Continue Reading
Declining refining margins for transport fuels such as gasoline and jet fuel have impacted demand for lighter crude grades in Asia, with the value of premium grades such as Abu Continue Reading
Oilfield services firm Halliburton ( HAL.N ) is accelerating its cost-cutting and will significantly reduce spending this year below its original $1.2 billion budget, its finance chief said on Tuesday. Continue Reading
Last year, the energy industry was rocked by record bankruptcies and write-downs that did not spare even the oil majors. According to Energy and Restructuring law firm Hayes and Boone’s Continue Reading
