Wells Fargo profit falls as bad loan provisions surge
Wells Fargo & Co’s ( WFC.N ) quarterly profit fell 7 percent as the No.3 U.S. bank by assets set aside more than $1 billion to cover bad loans, saying Continue Reading
Wells Fargo energy investment unit sought risky deals, faces losses
A Wells Fargo bank logo is pictured on a building in North Miami, Florida March 19, 2016. When Cubic Energy Inc’s bankruptcy plan took effect on March 1, shareholders of Continue Reading
Marathon Oil unloads more than $1 billion in assets
Marathon Oil said it was unloading more than $1 billion in assets in the United States as it streamlines its portfolio during the market downturn. File Photo by ekina/UPI HOUSTON, Continue Reading
Banks Face Massive New Headache on Oil Loans
The $147 billion question for banks: Will energy companies max out their credit lines? When big banks announce earnings starting on Wednesday, the spotlight will be on massive energy loans Continue Reading
70-90% Decline In Well Completions Raises Hope For Oil & Gas
There’s not much money in new well drilling these days. In fact, the latest figures from the American Petroleum Institute (API) reveal a 70 percent annual decline in new natural Continue Reading
US shale oil peak in 2015
The latest EIA drilling productivity report (11th April 2016) https://www.eia.gov/petroleum/drilling/ shows US shale oil production continuing to decline in Bakken, Eagle Ford and Niobrara while the Permian has flattened out. Continue Reading
U.S. shale output drop seen for 7th month running in May
U.S. shale oil production is expected to fall by a record amount in May in the seventh straight month of declines, a U.S. government forecast showed on Monday, as fallout Continue Reading
Drilling Productivity Report
New-well oil production per rig barrels/day New-well gas production per rig thousand cubic feet/day Region April 2016 May 2016 change April 2016 May 2016 change Bakken 757 767 10 957 Continue Reading
Sanders Wants Nationwide Fracking Ban
Saying it’s a danger to the air and water supply, Vermont Sen. Bernie Sanders upped his rhetoric on hydraulic fracturing Monday by calling for a nationwide ban on fracking. In Continue Reading
Banks Face Massive New Headache on Oil Loans
J.P. Morgan Chase Chairman and CEO James Dimon in February called the unfunded loans are… The $147 billion question for banks: Will energy companies max out their credit lines? When Continue Reading