Jobs

Source: CNBC

House passes $2 trillion coronavirus stimulus bill, sends it to Trump

CNBC


The House passed a $2 trillion coronavirus relief bill on Friday, sending the unprecedented measure to President Donald Trump’s desk after a scramble to block an effort to delay its passage.

The chamber approved what is believed to …

March 27, 2020 - 3:30 pm Economy, Jobs, Politics & Opinions, Regulatory
Pioneer Natural Resources CEO warns independent oil companies could go bankrupt if production continues amid coronavirus

Pioneer Natural Resources CEO warns independent oil companies could go bankrupt if production continues amid coronavirus

CNBC


Oil & Gas 360 Editor’s Note: Excellent CNBC Fast Money Interview with Scott Sheffield, CEO, Pioneer Natural Resources. Scott talks about several key points:

  • He has asked President Trump to get involved with the price war between Russia and
Source: Houston Chronicle

Oil pain spreads beyond Permian to small towns across America

Houston Chronicle


The oil market turmoil sparked by Saudi Arabia and Russia is threatening U.S. jobs even in Cut Bank, Montana, and Magnolia, Arkansas — relatively obscure communities in the world of energy.

In such places, mom-and-pop outfits run so-called …

Source: Houston Chronicle

U.S. Halts Plan to Buy Crude Amid Uncertainty Over Funding

Houston Chronicle


The Trump administration halted plans to start buying oil to top up the nation’s emergency stockpile after failing to win funding from Congress, throwing a wrench in its most tangible efforts to help struggling drillers cope with the …

Source: NBC

US economy grew at 2.1% rate in fourth quarter

CNBC


The economy grew by a moderate 2.1% in the fourth quarter of last year, but many economists believe that will be the last positive growth seen for some time as the country endures a sharp contraction due to the …

March 26, 2020 - 2:00 pm Economy, Jobs, Regulatory, Uncategorized
Source: Houston Chronicle

Oxy enacts pay cuts amid deeper budget cuts

Houston Chronicle


Houston exploration and production company Occidental Petroleum is enacting across pay cuts after making a second round of budget cuts as crude oil prices remain stuck at record lows.

Occidental plans to cut $2.5 billion from its capital …

Source: Houston Chronicle

FTS International furloughs hydraulic fracturing crews, cuts executive pay

Houston Chronicle


Fort Worth oilfield service company FTS International had a full calendar for its hydraulic fracturing crews two weeks ago but is now furloughing employees as crude oil prices continue to fall and exploration and production companies continue to …

March 24, 2020 - 10:30 am Closing Bell Story‎, Crude Oil News, Energy News, Fracing, Jobs
Source: CNBC

Historic slide in oil could cost energy industry thousands of jobs

CNBC


This month’s historic swoon in oil prices has some on Wall Street worrying that crude will settle in a range under $40 a barrel. For the industry’s hundreds of thousands of workers, the bigger worry is their jobs.

Though 

Source: Houston Chronicle

Halliburton to furlough 3,500 employees in Houston amid falling oil prices

Houston Chronicle


Oilfield service giant Halliburton plans to furlough about 3,500 employees of its Houston headquarters for the next two months amid grim market conditions that include four year-low oil prices and the coronavirus outbreak.

Employees at the company’s North …

Devon joins shale firms to cut spending as oil hovers at $30

Devon joins shale firms to cut spending as oil hovers at $30

Reuters


U.S. oil and gas producer Devon Energy Corp on Thursday cut its 2020 spending forecast by $500 million or nearly 30% to about $1.3 billion, joining its shale peers as the industry battles a slump in crude prices. Shale …

Houston energy co. cuts jobs, closing headquarters after bankruptcy auction

Houston energy co. cuts jobs, closing headquarters after bankruptcy auction

Houston Business Journal


With a buyer secured for Houston-based Alta Mesa Resources Inc. and its affiliated companies, more job cuts have been announced for the company’s headquarters.

Alta Mesa Services LP notified the Texas Workforce Commission on Feb. 18 that …

February 22, 2020 - 4:12 pm Exploration and Production (E&P), Jobs
Climate change and the coal industry; how are regulations impacting coal production.

Climate change and the coal industry; how are regulations impacting coal production.

WTHI-TV10


Oil & Gas Publishers Note: WTHI-TV10 provides a good report on the coal industry, and some good advice is offered in the report: “We need more diversity on our system that our customers would be hurt if we have

Canadian construction labour demand to intensify over short term; will require more than 300,000 new workers over decade

Canadian construction labour demand to intensify over short term; will require more than 300,000 new workers over decade

Canadian construction labour demand to intensify over short term; will require more than 300,000 new workers over decade

Source: Houston Chronicle

Schlumberger grows global headcount despite U.S. layoffs

Houston Chronicle


Oilfield service giant Schlumberger grew its global headcount in 2019 despite finishing the year with a $10.1 billion loss and laying off 1,400 workers in the United States.

In a Wednesday morning filing with the U.S. Securities and …

Largest CCA Renewable Project Comes Online

Largest CCA Renewable Project Comes Online

Largest CCA Renewable Project Comes Online

Source: Houston Chronicle

Apache closing San Antonio office, cutting nearly 300 jobs

Houston Chronicle


Apache Corp. is closing its San Antonio office and eliminating more than 270 jobs  as part of a reorganization process designed to cut costs.

The Houston-based oil and gas producer had a difficult 2019 as its stock value …

January 9, 2020 - 10:00 am Closing Bell Story‎, Economy, Energy News, Jobs
Source: Reuters

Occidental starting widespread layoffs in Houston and beyond

Chron

 


Occidental Petroleum is initiating a broad layoff effort this week that will stretch from Houston to Denver as the Permian Basin’s leading oil producer aims to cut costs in the aftermath of its massive $38 billion acquisition of …

Texas-based flatbed carrier with 260 trucks shuts down, citing insurance costs – This is a sign of tough times for Oil Field Service companies.

Texas-based flatbed carrier with 260 trucks shuts down, citing insurance costs – This is a sign of tough times for Oil Field Service companies.

Freightwaves


Flatbed truckload operators have been unprofitable for most of 2019

Oil & Gas 360 Publishers Note: We have been watching the Oil Field Service (OFS) take serious losses due to the investor demand for short-term returns. Investors are …

Dallas Fed Q4 Energy Survey – Oil and Gas activity, employment slip lower

Dallas Fed Q4 Energy Survey – Oil and Gas activity, employment slip lower

Dallas Fed


What’s New This Quarter

Special questions this quarter focus on capital spending in 2020, the price of oil needed to cover firms’ capital spending plans next year and the main causes of flaring in the Permian Basin.

Fourth Quarter Dallas Fed Energy Survey - oilandgas360

Activity …

Source: Reuters

Oil patch woes: Amid downturn, Alberta rages at Canada’s Trudeau

Reuters


WINNIPEG, Manitoba/OTTAWA – In 35 years of working in Alberta’s oil patch, home to the world’s third-largest crude reserves, Ray Mildenberger endured a volatile industry’s ups and downs without being laid off.

That changed in October, when Mildenberger, 60, …

December 19, 2019 - 1:00 pm Canada, Canada News, Closing Bell Story‎, Energy News, Jobs
Source: Houston Chronicle

Frac sand supplier U.S. Silica raises prices on its other products

Houston Chronicle


Citing rising demand and production costs, Katy frac sand company U.S. Silica is raising the price of its non-frac sand products.

In a Tuesday morning statement, U.S. Silicia that it is raising prices for most of its products …

December 3, 2019 - 3:00 pm Closing Bell Story‎, Economy, Energy News, Fracing, Jobs, Uncategorized
Source: Houston Chronicle

Steel manufacturing company to close Houston facility amid slowing energy sector

Houston Chronicle


TimkenSteel Corp., a manufacturer of steel products, will shutter a Houston plant after nearly 50 years in operation amid a slowdown in the energy sector that has hurt demand for the company’s services in Houston.

The closure early …

Source: oklahoman.com

Gulfport Energy to cut jobs, halt share buybacks

Reuters


NEW YORK – U.S. gas exploration and production company Gulfport Energy Corp (GPOR.O) on Monday confirmed that it would cut jobs, change its board and end its share buybacks, in a bid to reverse a slide in …

Source: nasdaq.com

U.S. oil producers to slash spending for second straight year in 2020

Reuters


U.S. energy producers plan to slash spending for a second straight year in 2020 as companies struggle to extract profits from the U.S. shale boom.

While U.S. crude output hit a record 13 million barrels per day (bpd) this …

Source: carboceramics.com

U.S. frack sand suppliers latest casualties in shale industry slump

Source: Reuters


The companies that provide sand for hydraulic fracturing operations are the latest casualties of shale industry cutbacks as low oil prices and demands for higher investor returns stunt drilling activity.

Two years ago, U.S. sand companies were racing …

Photo: James Durbin / For The Chronicle

Shale jobs are drying up in the Permian Basin

Source: Houston Chronicle


Barry Marks can hear the Permian Basin slowing down.

It’s right there on country-music station 96.1 FM in Odessa, Texas, where commercials for shale-patch jobs used to fill the airways. Those kinds of radio ads have fallen …

October 4, 2019 - 2:22 pm Closing Bell Story‎, Economy, Energy News, Jobs
Texas Shale Towns Grapple with Growth as Oil-Bust Fears Fade

Texas Shale Towns Grapple with Growth as Oil-Bust Fears Fade

From Reuters


In west Texas, the center of the U.S. oil boom, about 3,800 students at Permian High School are crammed into a campus designed for 2,500, with 20 portable buildings to help with the overflow.

School officials had expected …

Oil & Gas 360 - KLX Energy Services Completes Motley Acquisition frac truck

Job Cuts Expected at NOV Amid Ongoing Oil & Gas Industry Slump

From The Houston Chronicle


Job cuts are expected at Houston oilfield service company National Oilwell Varco following the implementation of a company restructuring plan created in response to an ongoing industry slump in the U.S. shale basins.

The drilling and …

Oil Company Layoffs Hitting Canada

Oil Company Layoffs Hitting Canada

Spanish energy giant Repsol cuts 30% of Canadian staff with layoffs in Calgary, Chauvin and Edson

From Reuters

NEW YORK/CALGARY — Spanish energy company Repsol SA is cutting about 30 per cent of its Canadian workforce as part of global …

June 19, 2019 - 6:18 am Canada News, Closing Bell Story‎, Jobs, Oil & Gas Jobs
KBR Wins $6 Billion Contract

KBR Wins $6 Billion Contract

KBR Wins Seat on $6B State Department Contract

June 12, 2019 - 5:52 am Closing Bell Story‎, Jobs, Press Releases