Permian Basin
News
March 25, 2020
Equinor says the company can be organic cash flow neutral before capital distribution in 2020 with an average oil price around $25/bbl for the remaining part of the year.
News
March 24, 2020
Two of the world’s biggest oilfield service companies are warning of a bigger shale crash than the one that hit the U.S. and Canada just five years ago.
News
March 24, 2020
Chevron became the latest oil company to take an ax to its budget, cutting capital expenses by $4 billion and suspending its share buybacks.
News
March 23, 2020
Activist investor Carl Icahn is nearing a truce with Occidental Petroleum Corp. that will see three new directors appointed to the oil company’s board, according to people familiar with the matter.
News
March 23, 2020
Oil dropped toward the lowest level since 2003 as prospects for a deal between OPEC and Texas to limit production appeared to fade, while a U.S. coronavirus rescue package ran into political delays.
News
March 20, 2020
Occidental Petroleum started reaching out to debt and equity investors about how to ease its $39 billion debt load after collapsing oil prices cast doubt on plans to raise cash via asset sales.
News
March 20, 2020
Kurt and Cameron discuss the week's oil price swings, and the developing palace intrigue at Texas' oil regulator as a commissioner is invited to the next OPEC meeting after suggesting a joint agreement to reduce oil production.
News
March 20, 2020
One of the most powerful officials in the biggest U.S. oil state has been invited to OPEC’s inner sanctum in June in a rare rapprochement between two historically antagonistic crude powers.
News
March 20, 2020
The United States recently became the largest producer of oil and natural gas in the world, producing a record 12.4 MMbbl in August 2019. Texas is responsible for about 40% of this production.
News
March 20, 2020
One of the most painful busts in the history of crude oil happened just six years ago, when a sharp price drop cost 200,000 industry professionals, almost half the entire workforce, their jobs.
News
March 20, 2020
Texas’s main oil regulator is weighing for the first time in nearly half a century whether the state should curb crude production, a move that would have an enormous economic and political impact.
News
March 19, 2020
The Trump administration’s plan to aid struggling American shale drillers involves buying as much as $3 billion worth of oil from domestic producers who employ 5,000 people or fewer.
News
March 18, 2020
Halliburton, the world’s biggest provider of fracking services, will furlough about 3,500 workers at its Houston headquarters as crude prices plunged to an 18-year low.
News
March 15, 2020
America’s oil output could drop nearly 20% as shale drillers slash capital spending and reduce activity after the biggest crash in crude prices since 1991, according to one of the country’s biggest independent producers.
News
March 13, 2020
Occidental Petroleum implemented a so-called poison pill plan to defend against unsolicited takeover approaches just a day after activist investor Carl Icahn escalated his campaign to fire the beleaguered U.S. oil producer’s board.
News
March 13, 2020
In the aftermath of the 2014 oil crash, U.S. shale learned a painful lesson: Not all hedging strategies pay off. Countless producers were left exposed to big losses after oil plunged to levels that made their insurance less valuable.
News
March 10, 2020
At a stroke, Saudi Arabia and Russia and their battle for market share have made almost all U.S. shale drilling unprofitable. Only five companies in two areas of the country have breakeven costs lower than the current oil price.
News
March 09, 2020
The Saudi-Russia oil price war could mark the end of a historic boom that vaulted the U.S. to predominance in world crude production.
News
March 05, 2020
Exxon Mobil is slowing the pace of its flagship shale project in the Permian Basin, one of the first signs that the oil majors are throttling back on production in response to the recent slump in prices.
News
March 04, 2020
Troubled oil and gas companies may have a hard time persuading their bankers to keep extending credit as the outlook darkens for energy, potentially leading to more bankruptcies in the already-beleaguered sector.
News
March 04, 2020
A member of the top energy regulator in Texas lost his place on November’s ballot to a Republican challenger, a major upset for an incumbent supported by some of the oil industry’s biggest names.
