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BLOG:"It's Cyclical" and Other Worn Out Industry Phrases
Monday, July 25, 2016 No matter how spot-on they may be, there are just some phrases people won't mind not hearing once the industry fully recovers from the downturn.
Oil Tumbles to Three-Month Low as US Drilling Climbs Amid Glut
Monday, July 25, 2016 Oil fell to the lowest in three months in New York after US producers increased drilling for a fourth week even as the market contends with abundant stockpiles.
Shell to Cut 25% of Deepwater GoM Workforce
Monday, July 25, 2016 Shell will cut hundreds of jobs in its deepwater Gulf of Mexico operations.
Statoil Seeks Standardization to Optimize Offshore Operations
Monday, July 25, 2016 Statoil's recent agreement with AspenTech illustrates the overall industry trend towards optimizing operations through standardization.
Oil Drops to Two-Month Low Amid Ample US Supply, Rising Dollar
Friday, July 22, 2016 Oil dropped to the lowest close in more than two months as the US heads to the end of the summer-driving season with ample inventories.
Leading Procedural Compliance with a Checklist Culture
Friday, July 22, 2016 As the oilfield nears the "Great Crew Change," it is clear that industry leaders will have to make smart and strategic choices going forward.
ConocoPhillips to Trim 6% of its Workforce
Friday, July 22, 2016 Houston-based ConocoPhillips will lay off 6 percent of its workforce with a majority of the cuts in North America.
Oil Glut Deeper Than Just Crude Exposed as Recovery Stumbles
Friday, July 22, 2016 For almost two years, the spotlight in the global oil market has been on a surplus of crude. The latest stumble in prices shows that the glut extends further.
Schlumberger Joins Halliburton in Calling Bottom of Oil Downturn
Friday, July 22, 2016 The world's two largest providers of oilfield drilling and fracking services have now declared that the worst may be over in the two-year-old oil market crash.
Baker Hughes: US Oil Drillers Add Rigs for Fourth Straight Week
Friday, July 22, 2016 US drillers this week added oil rigs for a fourth consecutive week, according to a closely followed report on Friday, with the recent return to the well pad expected to soften the decline in domestic crude production.
Employers, Educators Collaborate to Graduate the Next Oil, Gas Workforce
Thursday, July 21, 2016 Industry employers and higher education institutions work together to align current business needs with curriculum and student development.
Survey Reveals Midstream Companies Focusing on Retention Efforts
Thursday, July 21, 2016 Longnecker & Associates' survey finds that midstream companies are leveraging their available cash to offer salary increases and more liquidity to employees.
Exxon to Buy Gas Explorer InterOil for Up to $3.6 Billion
Thursday, July 21, 2016 Exxon Mobil agrees to buy natural gas explorer InterOil for as much as $3.6 billion to acquire discoveries in Papua New Guinea that will feed the buyer's existing gas-export plant.
Oil Down 2% as Record US Stockpiles Heighten Glut Worry
Thursday, July 21, 2016 Oil prices fell 2 percent on Thursday, as the market took a closer look at US government data that showed growing inventories of gasoline and other oil products pushed total petroleum supplies in the No. 1 oil consumer to record highs.
Technip to Supply Engineering for Monkey Island LNG Terminal
Thursday, July 21, 2016 Technip to supply FEED services to the new LNG export terminal that is to be located on Monkey Island, Louisiana.
Lower 48 to See Production Losses through 2020 on CAPEX Cuts
Thursday, July 21, 2016 The Bakken and Eagle Ford plays see the biggest CAPEX cuts, but activity in the Permian Basin remains resilient by comparison.
Noble Energy's Gunflint Production Starts Firing in US Gulf
Thursday, July 21, 2016 The start of production from Noble's Gunflint development marks the company's fourth successful offshore project completion within the past nine months.
First US LNG Shipment to Cross Expanded Panama Canal Next Week
Thursday, July 21, 2016 The United States will ship its first LNG cargo through an expanded Panama Canal next week.
Oil CEOs Still Paid for Growth Despite Crude Glut, Moody's Says
Thursday, July 21, 2016 US crude supplies remain at the highest seasonal level in at least a decade, but drillers are still rewarding their top brass when they add to the glut.
Halliburton Expects Modest Uptick in N. America Rig Count
Wednesday, July 20, 2016 Halliburton reports a smaller-than-expected quarterly loss and says it expects to see a "modest uptick" in North American rig count in the second half of the year.
Goldman Sachs: Oil, Gas Will Need Up to 100K Workers for US Shale Growth
Wednesday, July 20, 2016 Goldman Sachs finds a ramp-up of US shale production in coming years will require the need for 80,000 to 100,000 workers.
C&J Energy Files for Bankruptcy to Cut $1.4B in Debt
Wednesday, July 20, 2016 C&J Energy Services files for US Chapter 11 bankruptcy protection with an agreement with its lenders to swap $1.4 billion in debt for ownership of the reorganized company.
Oil Prices Up 1% After Ninth Weekly US Crude Drawdown
Wednesday, July 20, 2016 Oil prices rose as much as 1 percent on Wednesday, lifting US crude from two-month lows, after the US government reported a ninth straight week of crude inventory draws, easing some concerns in a market worried about a glut.
UNEP: Global Extraction of Primary Materials to Triple by 2050
Wednesday, July 20, 2016 The amount of primary materials extracted from the earth will almost triple by the middle of this century if action is not taken, a UN-backed report says.
US, Enbridge Reach $177M Settlement after 2010 Oil Spills
Wednesday, July 20, 2016 The US DOJ, EPA and US units of Enbridge reach a settlement under which the pipeline company will pay $177 million after a 2010 oil spill that released crude oil in Michigan and Illinois, Enbridge says.
Halliburton Posts Loss Hurt by Baker Hughes Deal Termination Fee
Wednesday, July 20, 2016 The world's number two oilfield services firm, Halliburton, posts a quarterly loss due to the $3.5-billion fee it paid for terminating a deal to buy rival Baker Hughes.
Devon Stacks Up More Success in STACK Play
Tuesday, July 19, 2016 Devon Energy reports more testing and production success in the STACK play in Oklahoma.
Chesapeake, Tom Ward Sued by Shale Owners for Alleged Scheme
Tuesday, July 19, 2016 Chesapeake Energy, the company Aubrey McClendon built into a natural-gas giant, is sued along with his former partner by lease holders who say the pair conspired to rig bids for drilling rights during the shale boom.
Oil Down Before US Stockpile Data; Attention on Product Builds
Tuesday, July 19, 2016 Oil prices fell as much 1 percent for a second day in a row on Tuesday as a rallying dollar and global fuel glut offset forecasts for lower US crude stockpiles that would have been typically bullish for the market.
US Silica Acquires East Texas Mine Unit for $210M
Tuesday, July 19, 2016 US Silica expands its frac sand capacity and product offering with its acquisition of NBR Sand for $220 million.
Oil Drops as Flows Unhindered Following Coup Attempt in Turkey
Monday, July 18, 2016 Oil declined following a failed coup in Turkey as shipments continued through the vital conduit from Russia and Iraq to the Mediterranean Sea.
Oil Producers Prepare for Second-Half Slump as Rally Sputters
Monday, July 18, 2016 Oil producers aren't betting on the rally. After surviving two years of low prices, they're gearing up for a third by buying protection against a renewed downturn.
Faltering Oil Recovery Prompts Warnings of a Relapse to $40
Friday, July 15, 2016 As oil's upward climb runs out of momentum, more and more analysts expect the market's next move will be back down toward $40 a barrel.
Trump's Expected VP: Governor Who Defied Obama's Climate Agenda
Friday, July 15, 2016 Donald Trump's selection of Indiana Gov. Mike Pence as his running mate cheers the US energy industry and dismayed green advocates, with both sides citing Pence's support for coal mining and defiance of President Obama's climate agenda.
Moodys: Shell, Repsol and Petrobras M&A on the Horizon
Friday, July 15, 2016 Analysts at Moodys' Investors Service expect that once commodity prices stabilize, the second quarter increase in 2016 activity will become an industry trend with major players trading assets.
RigNet to Cut 12 Percent of Workforce in Global Restructuring
Friday, July 15, 2016 Houston digital technology provider executes restructuring plan that will slash 12 percent of its global workforce.
Oil Settles Near $46 Amid Nigeria Force Majeure, US Fuel Glut
Friday, July 15, 2016 Oil closed near $46 a barrel in New York as the market weighed a force majeure declared by Exxon on crude shipments out of Nigeria against excess US oil and product inventories.
BLOG: Purse String Power Could Lighten Oil, Gas Regulations Load
Friday, July 15, 2016 The US House of Representatives' passage of the Interior-EPA appropriations bill delays regulations impacting oil and gas industry.
Oil Rises From Two-Month Low as Equities Gain, Dollar Slips
Thursday, July 14, 2016 Oil climbed as global equity markets advanced while the weakening dollar bolstered commodities.
Keppel AmFELS Delivers Newbuild Uxpanapa to Mexico's Central Panuco
Thursday, July 14, 2016 Keppel AmFELS delivers newbuild Uxpanapa to Mexico's Central Panuco and the jackup has been chartered for work offshore Mexico by national oil company Pemex.
Researcher: Imagination Only Limit on Oil, Gas Nanotechnology Applications
Thursday, July 14, 2016 Imagination is the only limit as academics explore nanotechnology applications for the upstream oil and gas industry, an engineering researcher says.
Energy Companies Spend Big to Fight Colorado Ballot Initiatives
Thursday, July 14, 2016 Energy companies in Colorado are spending millions of dollars to derail a push by environmentalists to put measures on November's ballot to stifle oil and gas drilling in the state, according to a Reuters review of campaign finance records.
BP Estimates Liabilities of $61.6B Related to 2010 Oil Spill
Thursday, July 14, 2016 BP estimated its total pretax liabilities stemming from the 2010 Gulf of Mexico oil spill at $61.6 billion, higher than it expected last year.
Viewer Offers Oil, Gas Companies Means to Explore Smart Glasses Application
Thursday, July 14, 2016 The deployment of a new viewer allows oil and gas companies to explore applications of smart glasses in oilfield.
Depleted Crews, Idled Rigs Lie In Shale Oil's Path To Revival
Thursday, July 14, 2016 Two years ago, Reg MacDonald's 20-day drilling classes were packed to capacity, with nearly 40 students eager to land lucrative jobs in the booming oil and gas industry. Now he is lucky if he gets half a dozen to enroll.
Nanotechnology Holds Potential for Oil Spill, Wellbore Stability
Thursday, July 14, 2016 University of Houston and Rice University researchers unveil recent discoveries of new nanotechnology solutions for oil and gas.
SPE-Gulf Coast Section Helps its Members Transition their Careers
Wednesday, July 13, 2016 Despite the effects of a harsh industry downturn, a Houston-area organization remains proactive with its members while the world waits on signs of a recovery.
BLOG: Who's Zoomin' Who When the Oil, Gas Politics Gets Very Personal?
Wednesday, July 13, 2016 Angry anti-frackers take their frustration to FERC commission member's home.
Oil Tumbles After US Fuel Stockpiles Unexpectedly Increase
Wednesday, July 13, 2016 Oil tumbled after a government report showed US fuel inventories unexpectedly grew, adding to concerns about oversupply.
Hercules Offshore Sells Jackup at 94% Loss
Tuesday, July 12, 2016 Hercules sells jackup Hercules 267 as it continues to liquidate its assets after filing for bankruptcy a second time.
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