The Drilling Productivity Report, released monthly by the Energy Information Administration, expects production in all seven listed regions to rise in February even though companies are laying down rigs and reducing operations. The two respective giants of the oil and gas plays are leading the charge, with the Permian projected to increase its output to 1,929 MBOPD and the Marcellus
Story by Bloomberg Oil prices, which have fallen by more than half since June, need to drop even further and stay there for the first half of the year for the market to find a balance between supply and demand, Goldman Sachs Group Inc. says. With OPEC resisting a production cut to stem the price slide, output reductions will come
The Board of Supervisory Directors of Core Laboratories N.V. (NYSE: “CLB US” and Euronext Amsterdam: “CLB NA”) has announced a cash dividend of $0.55 per share of common stock payable in the first quarter of 2015. This amount represents a 10% increase over the quarterly dividends of $0.50 per share that were paid in 2014. On an annualized basis, this
A memorandum of understanding signed between Woodside and Adani is set to strengthen ties in the LNG sector Australian energy major Woodside Petroleum Ltd (ticker: WPL) and India’s infrastructure conglomerate Adani Enterprises Ltd (ticker: ADANIENT) signed a memorandum of understanding (MOU) last week for cooperation in exploring opportunities in India’s oil and gas sector. The MOU, signed on January 10,
Alaska’s LNG “gigaproject” moving forward despite low prices While many liquid natural gas (LNG) projects are being put on the back burner due to the low oil price environment, the Alaska LNG project continues to march on. The project, which is being developed by a partnership including energy majors BP (ticker: BP), ExxonMobil (ticker: XOM), ConocoPhillips (ticker: COP) and TransCanada
Barclays’ coverage initiation on the oilservice sector last week could very well be summed up in two words: budget cuts. The London-based banking company says approximately 90% of the oilservice group is historically correlated to oil prices, and the dropping price will result in reduced budgets for E&Ps in the upcoming year. With less available capital for E&Ps, the oilservice
Northern’s New Website Tells the “One Step Ahead of the Drill Bit” Story with Jumbo Graphics, Maps and Aerial Photography Northern Oil and Gas, Inc. (ticker: NOG), is an independent oil and gas producer that has one of the largest non-operated leasehold positions in the Williston Basin. Northern controls almost 185,000 net mineral acres in the heart of the Bakken and
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