US Oil Drillers Cut Rigs to November 2009 Lows
U.S. energy firms cut oil rigs for a fourth week in a row to the lowest level since November 2009, oil services company Baker Hughes said on Friday, as energy Continue Reading
Bakken Update – April 2016, Little Decline So Far
North Dakota data from the NDIC is out. Bakken Three/Forks data shown in chart above (NDIC Data) with a Red Queen Model (based on Rune Likvern’s original work) using data Continue Reading
Banks Build Rainy-Day Funds Due to Energy Slump
It took a huge slump in the energy industry to make it happen, but big banks are finally adding to their rainy-day funds again. The big national banks added a Continue Reading
North Dakota Oil Production Falls for Third Month in a Row
North Dakota crude oil production fell for the third month in a row, ticking down 0.4% in February and hitting its lowest level in 18 months. Slumping oil prices are Continue Reading
Goodrich Petroleum Files For Chapter 11 Bankruptcy Protection
The company has filed for chapter 11 bankruptcy protection. Troubled U.S. oil and gas firm Goodrich Petroleum Corp. said on Friday it has filed for chapter 11 bankruptcy protection, joining Continue Reading
Clinton, Sanders spar over fracking
Democratic presidential candidates Hillary Clinton and Bernie Sanders debated for the ninth time Thursday in New York. Photo by Ray Stubblebine/UPI NEW YORK, April 15 (UPI) — Hillary Clinton said Continue Reading
After global oil freeze deal, prospects for cuts unclear and remote
An oil output cut by global producers, following on from the output freeze initiative, is quite unlikely and would be months away, OPEC sources said, suggesting any additional action to Continue Reading
PetroChina Unit Plans Startup of New Canadian Oil-Sands Plant
The Canadian unit of one of China’s largest oil and gas companies is on track to start operations at a new 35,000-barrel-per-day oil-sands plant later this year despite crude prices Continue Reading
Energy XXI Files for Chapter 11 Bankruptcy Protection
The Houston-based energy firm, filed for protection under the Chapter 11 Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas, Houston Division, after signing a Continue Reading
BofA Misses Estimates on Slump in Deals, Energy Loan Losses
Bank of America Corp. posted a first-quarter profit that missed analysts’ estimates as trading and underwriting revenue dropped and energy loans soured. The stock fell in early trading. Net income Continue Reading