Capital Markets

Oil drops after biggest gain in a month as trade optimism ebbs

Oil drops after biggest gain in a month as trade optimism ebbs

Source: Houston Chronicle


Oil slid after surging the most in almost a month on Friday amid doubts that recent progress in the U.S.-China trade talks will compensate for a worsening global demand outlook.

Futures in New York fell as much …

Source The Houston Chronicle

Oil slides to its worst quarter this year on demand worries

From The Houston Chronicle


Oil recorded its weakest quarter since late last year as fears over a global economic slowdown overshadowed an unprecedented attack on Saudi Arabia’s key energy facilities.

Brent futures slumped 8.7% since the end of June after …

September 30, 2019 - 4:14 pm Capital Markets, Closing Bell Story‎, Crude Oil News
Offshore bosses try to win back investors after ‘horrible year’

Offshore bosses try to win back investors after ‘horrible year’

The Houston Chronicle


Offshore drilling executives are trying to win back investors who have fled their stocks over the past year, insisting that a protracted recovery is gaining momentum.

After suffering their worst downturn ever following the collapse of oil …

September 13, 2019 - 2:25 pm Capital Markets, Closing Bell Story‎, Offshore
Opec Slides Closer To Collapse As An Oil Glut Overpowers The Oil Price

Opec Slides Closer To Collapse As An Oil Glut Overpowers The Oil Price

From Forbes


Three days of falling oil prices is not a crisis for OPEC, the weakening oil producer’s club, but forecasts of a continuation of the price decline could sap what strength remains in an organization once able to dictate …

Source World Oil

Trump administration paves way for Arctic drilling rights sale

From World Oil


The Trump administration on Thursday took a major step toward auctioning oil drilling rights across every acre of the Arctic National Wildlife Refuge’s coastal plain, hours after the House of Representatives voted to outlaw the activity.

In …

September 13, 2019 - 11:43 am Capital Markets, Closing Bell Story‎, Energy News, Offshore
Source Reuters

OPEC members Iraq, Nigeria agree to cut oil output

From Reuters


OPEC agreed on Thursday to trim oil output by asking over-producing members Iraq and Nigeria to bring production in line with their targets as the group strives to prevent a glut amid soaring U.S. production and a slowing …

Source Reuters

U.S. briefly overtakes Saudi Arabia as top oil exporter: IEA

From Reuters


Global oil demand is weathering economic headwinds, the International Energy Agency (IEA) said on Thursday, buoyed by lower prices brought on by abundant supply as the United States briefly dethroned Saudi Arabia as the world’s top exporter.

“With …

Source The Houston Chronicle

Oil plummets as Trump signals thaw in Iranian sanctions deadlock

From The Houston Chronicle


Oil dropped to a one-week low as U.S. President Donald Trump considered easing sanctions on Iran that severely restricted the OPEC member’s ability to export crude.

Futures declined more than 2% in New York and London …

September 12, 2019 - 11:43 am Capital Markets, Closing Bell Story‎, Crude Oil News

Alta Mesa Resources and Alta Mesa Holdings File Voluntary Bankruptcy Petition; Announce Leadership Changes

Alta Mesa Resources and Alta Mesa Holdings File Voluntary Bankruptcy Petition; Announce Leadership Changes

Source boonepickens.com

Legendary Energy Executive, Entrepreneur T. Boone Pickens Dies at 91

From Boonepickens.com


DALLAS, Texas – T. Boone Pickens, legendary energy executive and one of America’s best-known entrepreneurs, passed away today at the age of 91.

The long-time Dallas resident, who had battled back from a series of strokes and further …

September 11, 2019 - 5:29 pm Capital Markets, Closing Bell Story‎, Energy News, People
Source Reuters

OPEC+ to discuss deeper oil cuts on Thursday: Iraq minister

From Reuters


OPEC and its allies will discuss whether there is a need for deeper cuts in oil production when they hold a ministerial meeting on Thursday, Iraq’s oil minister said.

The Organization of the Petroleum Exporting Countries and allied …

Sources Reuters

Saudi Aramco gives nine banks top roles on world’s biggest IPO: sources

From Reuters


Saudi Aramco has hired nine banks as joint global coordinators to lead its planned initial public offering (IPO), slated to be the world’s largest, two sources familiar with the matter told Reuters on Wednesday.

The mandates have been …

Source: The Houston Chronicle

Baker Hughes to become independent again in stock sale

From The Houston Chronicle


Houston oilfield service giant Baker Hughes is poised to become an independent company again.

Boston industrial conglomerate General Electric will lose its majority ownership of Baker Hughes in a planned stock sale that could be worth …

September 11, 2019 - 10:51 am Capital Markets, Finance, Oilfield Services
Source Parker Drilling

Parker Drilling’s Board of Directors Approves Plan to Voluntarily Terminate Registration of Its Common Stock with the SEC and Voluntarily Delist from the NYSE

HOUSTONSept. 10, 2019 /PRNewswire/ — Parker Drilling Company (NYSE: PKD) (“Parker” or the “Company”) today announced that its Finance and Strategic Planning Committee, which consists solely of independent directors, has recommended, and its Board of Directors (the “Board”) …

Source Forbes

Is Saudi Oil Policy Changing Before Our Eyes?

From Forbes


Making sense of the internal politics of Saudi Arabia has never been easy because of the kingdom’s closed power structure.

But major changes have taken place at the top of the Saudi energy industry in recent days, and …

September 10, 2019 - 12:56 pm Capital Markets, Crude Oil News, Energy News, International, OPEC
Source Reuters

Aramco ready for foreign float alongside primary domestic listing

From Reuters


Saudi Aramco is primed to float on international markets to complement a planned domestic initial public offering (IPO) which has been selected as its primary listing, the state oil giant’s chief executive said on Tuesday.

An IPO of …

Source The Houston Business Journal

Former Tudor Pickering Holt leader spins out energy asset management firm

From The Houston Business Journal


Nearly three years after Houston-based energy investment banking firm Tudor, Pickering, Holt & Co. became part of New York-based financial services firm Perella Weinberg Partners, Dan Pickering is spinning off his own firm.

Pickering spun

September 10, 2019 - 11:55 am Capital Markets, Closing Bell Story‎, People, Popular 3

WPX Energy Commences Tender Offers for Senior Notes due 2022 and 2023

WPX Energy Commences Tender Offers for Senior Notes due 2022 and 2023

Source Reuters

Saudi Aramco pursues IPO with local listing plan as lines up banks: sources

From Reuters


Saudi Arabia plans a gradual listing of Aramco on its domestic market, sources familiar with the matter said on Monday, as it finalizes the roles banks will play in the initial public offering (IPO) of the world’s biggest …

Source Reuters

Paulson’s hedge fund calls on Callon to drop merger, sell itself

From Reuters


Billionaire investor John Paulson’s hedge fund on Monday urged Callon Petroleum Co (CPE.N) to drop its proposed $3.2 billion acquisition of Carrizo Oil & Gas Inc (CRZO.O), and instead consider selling itself.

Paulson & …

U.S. shale firms cut budgets, staff as oil-price outlook dims

U.S. shale firms cut budgets, staff as oil-price outlook dims

From Reuters


Oil producers and their suppliers are cutting budgets, staffs and production goals amid a growing consensus of forecasts that oil and gas prices will stay low for several years.

The U.S. has 904 working rigs, down 14% from …

Oil Futures Extend Gains on Larger-Than-Expected U.S. Crude Draw

Oil Futures Extend Gains on Larger-Than-Expected U.S. Crude Draw

From Reuters


Oil prices rose in volatile trade on Tuesday supported by expectations of a drawdown in U.S. crude inventories, though gains were capped by worries about a recession and uncertainty over a China-U.S. trade deal.

Brent crude LCOc1 settled …

Oil Falls 1% as U.S.-Iran Optimism Faces U.S.-China Trade Deal Hopes

Oil Falls 1% as U.S.-Iran Optimism Faces U.S.-China Trade Deal Hopes

From Reuters


Oil prices fell 1% on Monday on the outlook for increased supply of Iranian crude after France’s president lifted hopes for a deal between Washington and Tehran, but losses were limited by optimism surrounding a U.S.-China trade deal.…

Trump Calls on U.S. Firms to Exit China as Trade War Escalates

Trump Calls on U.S. Firms to Exit China as Trade War Escalates

From Reuters


President Donald Trump on Friday pressured U.S. companies to leave China after Beijing unveiled retaliatory tariffs on $75 billion in U.S. goods, stoking fears their escalating trade war will tip the global economy into recession.

Trump, who has …

Oil Eases as Fed’s Jackson Hole Meeting Gets Underway

Oil Eases as Fed’s Jackson Hole Meeting Gets Underway

From Reuters


Oil prices weakened on Thursday on worries about the global economy and as equity markets were on edge over the uncertain outlook for U.S. interest rate cuts.

Traders are awaiting a speech from Federal Reserve Chair Jerome Powell …

Courtesy of Chesapeake

Oil Steadies as Hopes of Easing Trade Tensions Lend Support

From Reuters


Oil prices steadied on Tuesday on optimism U.S.-China trade tensions will ease and hopes major economies will take stimulus measures to ward off a possible economic slowdown, after falling earlier on concerns over future demand.

Brent crude LCOc1 …

Oil Rises 2% After Attack on Saudi Field, Stimulus Expectations

Oil Rises 2% After Attack on Saudi Field, Stimulus Expectations

From Reuters


Oil prices gained roughly 2% on Monday after a weekend attack on a Saudi oil facility by Yemen’s Houthi forces threatened crude supplies and as traders looked for signs that top economies would take measures to counteract a …

Oil Deepens Slide on Recession Fears, China’s Trade Threats

Oil Deepens Slide on Recession Fears, China’s Trade Threats

From Reuters


Oil prices fell more than 1% on Thursday, extending the previous session’s 3% drop, pressured by mounting recession concerns and a surprise boost in U.S. crude inventories.

In a sign of investor concern that the world’s biggest economy …

Oil Drops 3% on Weak Global Economic Data, U.S. Crude Stocks Build

Oil Drops 3% on Weak Global Economic Data, U.S. Crude Stocks Build

From Reuters


Oil prices shed 3% on Wednesday after fresh Chinese and European economic data revived global demand fears and U.S. crude inventories rose unexpectedly for the second week in a row.

Brent crude LCOc1 settled at $59.48 a barrel, …

Oil Soars Near 5% as U.S. Delays Tariffs on Some Chinese Goods

Oil Soars Near 5% as U.S. Delays Tariffs on Some Chinese Goods

From Reuters


Oil prices on Tuesday jumped by the most so far this year after the United States said it would delay imposing a 10% tariff on certain Chinese products, easing concerns over a global trade war that has pummeled …