Thursday, November 28, 2024

North American Rig Count Up Primarily from Gas Rigs

The U.S. rig count adds five this week, three of which are targeting natural gas The number of rigs in the United States grew in the week ended September 16, 2016, according to information from Baker Hughes Industries (ticker: BHI). The total rig count now stands at 511, down 327 from the same time last year. The gains came primarily

InterOil Shareholders Approve $2.5 Billion ExxonMobil Acquisition

Paying a contingent resource payment of $7.07 per IOC share for each Tcfe of resource in Elk-Antelope field above 6.2 Tcfe InterOil Corporation (ticker: IOC) announced today that more than 80% of its shareholders approved of the ExxonMobil Corporation (ticker: XOM) acquisition of the company. Exxon will acquire InterOil in an all-stock deal valued at $2.5 billion, with a contingent

Oil and Gas Capex Set to Rise for the First Time Since 2014

BMI Research forecasts 2.5% increase in oil and gas capex for 2017 The oil and gas industry is expected to increase spending next year for the first time following the crash in oil prices at the end of 2014, according to BMI Research. The research group, which is affiliated with Fitch Ratings parent company Fitch Group, believes oil and gas