The Bureau of Labor Statistics (BLS) reported strong November jobs growth today ahead of the Federal Reserve’s December meeting. The U.S. economy added 211,000 jobs in the month of November, according to the BLS, adding to the possibility that that the Fed may decide to raise interest rates later this month on the stronger employment data. Overall unemployment remained unchanged
Oil rig count continues to lead decline, shedding 10 this week alone The total number of rigs drilling in the United States declined every week through the month of November, according to information released by Baker Hughes (ticker: BHI). The total U.S. rig count fell by seven this week to 737 from 744 last week. The total rig count is
OPEC shows no signs of slowing oil production Oil prices fell lower today as OPEC showed no signs of changing its policy of defending market share, which the group started on Thanksgiving Day of last year. U.S. crude benchmark WTI fell below $40 per barrel early today, down more than 2% from its closing price of $41.08 yesterday. The price
Precision Drilling Corporation (PD.TO) (“Precision” or the “Corporation”) announced today that Douglas Strong, President, Completion & Production Services will retire from the Corporation and Kenneth Haddad, Senior Vice President, Business Development will separate from the Corporation to pursue other interests effective December 31, 2015. Over a 21-year career with the Corporation, Mr. Strong served the Corporation in various senior financial
Ensign Energy Services Inc. (“Ensign” or “the Company”) announces the declaration by its Board of Directors of a regular quarterly dividend of $0.12 ( twelve cents ) per Common Share. The Board of Directors of Ensign declared the dividend of $0.12 ( twelve cents ) per Common Share to be payable on January 6, 2016 to all Common Shareholders of
EQT Corporation (NYSE: EQT) today announced the realignment of certain executive responsibilities, which includes the appointment of Steven T. Schlotterbeck as President of EQT Corporation (EQT or Company). Schlotterbeck will also retain his title of President, Exploration and Production; and David L. Porges will remain Chairman and Chief Executive Officer of EQT. As part of the realignment, which was effective December
Senate vote remains The Republican-controlled U.S. House of Representatives approved a bill set to boost U.S. energy production, lift the four-decade ban on crude oil exports and modernize the electric grid. The House passed the bill 249-174 despite threats from the White House to veto the bill. In addition to allowing U.S. companies to export their crude oil, the bill
Oil prices rebounded today on the eve of the much-anticipated meeting of the Organization of Petroleum Exporting Countries (OPEC) in Vienna, with Saudi Arabia rumored to propose a solution to struggling oil prices that have dropped to their lowest levels since the summer. Argus Media, a London-based organization, hosted a webinar on December 2, 2015, previewing the upcoming meeting and
(All dollar amounts referenced are in Canadian dollars unless otherwise specified) CALGARY, ALBERTA–(Marketwired – Dec. 3, 2015) – Suncor Energy today announced it has extended its offer to Canadian Oil Sands Limited (“COS”) shareholders. Suncor will file a corresponding notice of extension to formally extend the expiry time of its offer to 6:00 p.m. MT (8:00 p.m. ET) on Friday,
From The Columbus Dispatch Ohio continues to increase its oil production from shale, but just barely, while natural-gas production is growing at a more rapid clip. The third-quarter figures, issued this afternoon by the Ohio Department of Natural Resources, cover a period of unusually low oil and gas prices. The state’s energy producers reported 5.7 million barrels of oil and
Turkey threatens to cut off oil from Black Sea ports As tensions continue to rise following Turkey’s decision to shoot down a Russian fighter jet November 24, the oil trade has become a target in an exchange of blows. Russian President Vladimir Putin accused Turkey of shooting down Russia’s jet in order to protect an ISIS oil trade route earlier
Iran lays out new IPC framework in Tehran Over the course of last weekend, Iran outlined the contractual terms on its new Iranian Petroleum Contracts (IPCs). Iran hopes to use the new contract terms to attract international investors to its oil and gas industry as it seeks to draw in $280 billion in foreign investment. Iran hopes the substantial amount
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