Monday, June 30, 2025

OilService: Is this the New Paradigm Coming out of the Downcycle?

OilService Companies are Finding Ways to Make Business Work in this Price Environment The people working in American industry can be pretty darned resilient and very creative when markets get rough. Oil and gas producers and oilservice companies are certainly no exception. Companies in and around the businesses associated with oil production are finding new ways to do things better, cheaper, faster and with more

Moody’s Warns Russian Deficit Goal in Doubt as Oil Jolts Budget

From Bloomberg. Russia’s deficit goal is in jeopardy this year after crude resumed its selloff, leaving the government few options to stabilize public finances, according to Moody’s Investors Service. “The new fall in oil prices poses significant difficulties for achieving the targeted 3 percent federal deficit,” Kristin Lindow, senior vice president at the credit-ratings company, said in e-mailed comments. The fiscal

Canadian Oil Producers Losing Shield From Rout as Hedges Expire

From Bloomberg. A defense Canadian oil producers had against the plunging price of crude is crumbling as hedges expire amid projections that crude will continue to decline. Hedges that shielded companies such as Crescent Point Energy Corp. and Whitecap Resources Inc. from the full pain of $30 oil are winding down this year and next. Nineteen small-to-mid-sized producers have an average

Repsol to Shut Unprofitable Norwegian Oil Field

From Bloomberg. Repsol SA plans to shut down its unprofitable Varg oil deposit in the North Sea, the first time a Norwegian field will be closed because of the crude-price collapse. “Varg has been cash-negative since August 2015,” the company said in a Dec. 1 presentation to Norway’s Petroleum Safety Authority obtained by Bloomberg. Further investments in the field aren’t economical,