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Wednesday, May 20, 2026

February 22, 2017

Oil Industry Demand for Tech Booming: Flotek

February 22, 2017

 Flotek looks to core business in 2017 While the current industry downturn adversely affected E&P companies, it caused a tightening in service companies, with thousands of their employees being laid off. But as commodity prices recover somewhat, remaining in the $50s per barrel range, service companies are becoming more optimistic about future prospects. Flotek Industries (ticker: FTK), a chemical technology company,

ExxonMobil Reports 2016 Reserves

February 22, 2017

ExxonMobil Corporation (ticker:XOM) announced today proved reserves were 20 billion oil-equivalent barrels at year-end 2016, inclusive of a net reduction of 3.3 billion oil-equivalent barrels from 2015. Reserves changes in 2016 reflect new developments as well as revisions and extensions to existing fields resulting from drilling, studies, analysis of reservoir performance and application of the methodology prescribed by the U.S. Securities

U.S. to Become Major LNG Exporter: EIA

February 22, 2017

EIA: U.S. net natural gas exporter by 2018 Following suit with recent analyses by BP, Shell and others, the EIA predicted in an announcement  today that the U.S. will become a major LNG exporter in the next 20 years. The EIA note confirms what many industry players have been forecasting in recent days. The U.S. will be a net exporter

Concho Puts 2017 CapEx between $1.6 and $1.8 Billion

February 22, 2017

Production to grow by 20%-24% in 2017 Concho Resources (ticker: CXO) announced fourth quarter earnings and reserves today, showing a net loss of $125.1 million, or ($0.86) per share. Full year results were a net loss of $1.5 billion, or ($10.85) per share. Adjusting for impairments and other non-cash items yields better results. Net adjusted earnings for Q4 and the

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