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Thursday, July 30, 2026

July 30, 2019

Oil & Gas 360 - KLX Energy Services Completes Motley Acquisition

National Oilwell Varco Posts Nearly $5.4 Billion Loss During Second Quarter

July 30, 2019

From The Houston Chronicle Houston oilfield service company National Oilwell Varco reported a multibillion loss during the second quarter amid what executives are calling a “generational oilfield downturn.” NOV reported a nearly $5.39 billion loss on $2.13 billion of revenue during the second quarter. The figures translated into a $14.11 loss per share. The second quarter earnings were mixed compared

Centrica CEO to Step Down; Sell Oil and Gas Business

July 30, 2019

From The Houston Chronicle The top executive of British-owned Centrica, owner of Direct Energy, will be stepping down after what the company describes as an exceptionally challenging six months which included outages at its nuclear sites, pension deficits and low natural gas prices. The company announced on Tuesday that it is cutting the dividend for investors. Iain Conn, group chief

BP Profit Again Outstrips Forecasts, Lifted by Higher Oil Output

July 30, 2019

From Reuters A strong rise in oil and gas production helped BP (BP.L) offset weaker crude prices and refining profit to again beat profit expectations on Tuesday, boosting its shares. BP’s second quarter contrasts with Total (TOTF.PA) and Norway’s Equinor (EQNR.OL), which posted sharp earnings drops, and builds on a steady recovery after deep cost cuts since the 2014 downturn,

ConocoPhillips Profit Misses on Lower Crude Prices, Higher Spending

July 30, 2019

From Reuters ConocoPhillips (COP.N) missed Wall Street estimates for quarterly profit on Tuesday as it spent more than expected and took a hit from lower crude prices due to fears of a slowing global economy. The OPEC and Russia have put a lid on production, but that has not translated into higher prices due to surging shale oil output from

The Shale Boom in the Permian Is Slowing Down - 360

Texas Shale Pioneers Struggle to Appease Investors

July 30, 2019

From Reuters Seven years ago, Diamondback Energy Inc went public with a modest parcel of drillable land in the Permian Basin of West Texas. Like dozens of other Permian startups, the firm then pursued a classic wildcatter’s strategy – borrowing to buy up acreage, acquire competitors and quickly boost output in the booming shale field. Today, Diamondback (FANG.O) is the

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