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May 13, 2016

U.S. Rig Count Drops to 406

May 13, 2016

Baker Hughes published its Friday rig count today. U.S. rigs count declined by nine rigs from last week to a total of 406. The count is down 482 rigs from this date last year. The rig count for Canada stands at 43, up seven from last week, down 34 from last year at this time. June West Texas Intermediate crude fell 49

Petrobras Reports $358 Million Miss as it Looks to Correct Course

May 13, 2016

Petrobras reports $358 million loss on lower production and sales Brazil’s state-owned oil giant, Petroleo Brasileiro (ticker: PBR), reported its first quarter results yesterday, showing a 1.25 billion reais ($358 million) loss in the first three months of the year. Petrobras, as the company is commonly called, is the most in-debt oil and gas company in the world, and has

Alberta Production Coming Back Online

May 13, 2016

Oil & Gas 360® spoke with Tim McMillan, president and CEO of Canadian Association of Petroleum Producers about the ongoing wildfires in Alberta, Canada. McMillian said that a number of uncertainties remain with the fire, such whether or not the weather will remain cooler, but that most producers in the area are now bringing production back online. Watch Oil &

Cheniere Hires Power Generation CEO Jack Fusco

May 13, 2016

The Cheniere Energy (ticker: LNG) board of directors has appointed Jack Fusco as the company’s new CEO. Fusco came to Cheniere from Houston-based Calpine Corporation (ticker: CPN), whose website describes it as America’s largest generator of electricity from natural gas and geothermal resources–84 power plants in operation or under construction (only 3 aren’t natgas), 27,000 megawatts of generation capacity, customers

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