Oklahoma shale driller Chaparral Energy Inc filed for Chapter 11 bankruptcy protection on Sunday, the latest U.S. energy sector casualty in recent months as COVID-19 crushes oil demand.
The company’s assets and liabilities were in the range of $500 …
The French half of Houston and Paris oil field service company TechnipFMC has revealed its new company name months ahead of an anticipated split that will create two publicly traded …
From Bloomberg
Texas oilman Jeffery Hildebrand became a billionaire by shunning the shale revolution taking place in his home state. Now, …
A natural gas well belonging to the Norwegian oil giant Equinor remains shut in following a weekend fire at one of its drilling sites in Karnes County.
The fire happened at Equinor’s Neller-Runge 1-Runge 2 lease …
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 …
From Reuters
Two U.S. shale producers have challenged an energy pipeline operator’s proposed surcharge for the Trump administration’s 25% tariff on imported steel, raising the stakes for pipeline builders facing higher construction costs.
The United States imposed tariffs on imported …
From Reuters
U.S. oil output from seven major shale formations is expected to rise by 85,000 barrels per day (bpd) in September, to a record 8.77 million bpd, the U.S. Energy Information Administration forecast in its monthly drilling productivity report …
From Reuters
The operators of two new pipelines in West Texas shale fields are offering discounted prices to attract shippers accustomed to high fees to move oil to export hubs, according to the pipeline companies and federal filings.
These bargain …
From Reuters
Marathon Oil Corp (MRO.N) reported a 50% jump in quarterly adjusted profit on Wednesday, as higher U.S. shale output countered lower realized crude prices and production costs fell.
The company, like many other U.S. oil producers, is extracting …
From Reuters
Canadian energy company Enbridge Inc said the section of its Texas Eastern pipeline in Kentucky that exploded on Thursday, killing one person, will remain shut through at least Aug. 12.
Enbridge said in a notice to customers Monday …
From Reuters
Weaker second-quarter refining and chemicals profits offset surging U.S. shale production at U.S. oil majors Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N), the two reported on Friday.
Exxon’s topped analysts’ reduced estimates for the quarter but net …
From Reuters
Occidental Petroleum Corp, which is battling activist investor Carl Icahn over its $38 billion purchase of Anadarko Petroleum, reported a 14% fall in core profit on Wednesday, as higher crude prices and volumes were offset by adjustments to …
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 …
From Reuters
Argentina’s gas production rose to 140 million cubic meters a day in June, the highest level in 11 years, the government said on Saturday.
That amount represented growth of 5.8% compared with the same period last year.
Argentina’s …
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 …
At 10:30 p.m. on an 85F August night in Penwell, in West Texas, a 69-year-old repairman is hammering away at the frame of an 18-wheeler in …
