U.S. energy firms this week increased the number of oil rigs operating for a second week in a row amid concerns that crude supplies will swamp global demand as U.S. output keeps growing from record levels.Companies added three oil rigs in the week to Feb…
U.S. oil prices rose on Friday, gaining for a fourth day on hopes of further supply cuts by major exporters, despite uncertainty about U.S.-China trade talks.U.S. West Texas Intermediate (WTI) crude futures were at $54.79 per barrel at 0038 GMT…
A shutdown of a portion of TransCanada Corp's Keystone oil pipeline will last a further 'days not weeks,' following a leak in Missouri last week, crude producer Cenovus Energy said on Wednesday.Citing a conversation with TransCanada, Cenovus executive vice-president of downstream…
Occidental Petroleum Corp on Tuesday reported a quarterly profit that beat analysts' estimates, helped by a surge in Permian basin production and higher realized prices for its crude.Production from its Permian resources unit rose 57 percent to 250…
U.S. crude inventory has been hovering between 430 and 450 million barrels since early December — and remains around 6% above the five year average for this time of year.But there are indications that crude supply is beginning to decrease. U…
Having taken a closer look at the detailed economics of the most recent 1,000 wells drilled in the most popular shale hotspot – the Wolfcamp A zone of the Permian Delaware basin – Rystad Energy can see a clear pattern emerging that favors large players…
U.S. oil and gas company Apache Corp said on Thursday it expects to spend much less on exploration and production this year than originally planned, becoming the latest shale producer to cut capital spending amid a fall in crude prices.Apache set a capital budget for oil production of $2…
Oil and gas producer Anadarko Petroleum Corp on Tuesday reported a fourth-quarter profit that missed analysts' estimates by a wide margin, as it spent more on its projects in West Texas and northeast Colorado.Oil producers, betting on a recovery in oil prices since their slump in 2014…
Exxon Mobil Corp and Chevron Corp, two of the world's largest oil producers, on Friday posted improved quarterly earnings that benefited from double-digit percentage increases in production from the top U.S. shale field.Shares of both companies rose about 3 percent…
U.S. shale producer Continental Resources expects oilfield services costs to remain low in 2019 as companies that provide drilling and completion work continue to face pressure from softer oil prices, executives said during a company presentation on Tuesday…
U.S. oil producer SandRidge Energy has appointed industry veteran Paul McKinney as its next chief executive officer, it said on Monday.SandRidge last year ousted James Bennett as CEO after coming under pressure from activist investor Carl Icahn…
Spending on the offshore service sector will outpace spending on the onshore shale sector this year, said Rystad Energy.According to Rystad's Oilfield Service Research report, service companies exposed to the offshore subsea market and the maintenance…
Booming U.S. oil exports have set off a scramble to build Gulf Coast ports to handle more than 3 million barrels per day in new supplies expected over the next five years.Of seven proposed oil-export projects, nowhere is the opportunity greater or the competition more fierce than in Corpus Christi…
U.S. oil and gas producer Occidental Petroleum Corp said on Monday it expects to spend $4.4 billion to $5.3 billion this year, depending on the price of crude oil.Houston-based Oxy spent around $5 billion in 2018. The company is one of the largest producers in the Permian Basin…
Suncor Energy Inc said on Monday it expects total upstream production to rise by about 13 percent in the fourth quarter of 2018, helped by higher output from its majority-owned Syncrude oil project in northern Alberta.The company expects total upstream production of 831…
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