oil and gas
oil and gas Articles
The dramatic drop in crude oil prices in the last half of 2014 has not yet slowed production in the Bakken play, but it has made it more difficult for producers to make a profit.
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Civeo has announced that due to the fall in oil prices it has cut its 2015 guidance and suspended its dividend.
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Among the first indications we expect to see that the falling cost of crude oil is putting economic pressure on oil producers is a drop in the number of rigs that are being employed.
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As another sign of how rapidly gasoline prices have fallen is that the average cost of a gallon of regular has dropped below $2 in three states.
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24/7 Wall St. looks at 10 wealthy countries as measured by GDP that lack any significant amount of proved oil reserves.
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Short interest in large oil and gas stocks rose in the two-week period to December 15 for all but one of the companies we follow. That should be no surprise give the plunge in oil prices.
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The U.S. Energy Information Administration reported Wednesday afternoon that U.S. natural gas stocks decreased by 49 billion cubic feet for the week ending December 19.
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The EIA weekly petroleum status report indicated that U.S. commercial crude inventories increased by 7.3 million barrels last week.
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If it seems to you that gasoline prices fall every day, you are correct. Through Monday, the average price for a gallon of regular gasoline had fallen for 89 straight days.
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While we have suggested before that share prices for alternative energy stocks are behaving like leveraged plays on the price of crude, there is another way of looking at what is happening.
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Merrill Lynch is reevaluating its position on a few master limited partnerships as it transfers coverage to analyst John Abbot from Nitin Kumar.
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Gasoline has breached below $2 in a number of gas stations around the country. It has fallen below that level in five large cities.
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Chevron said in a letter to Canada's National Energy Board that it would abandon its plans to drill in the Arctic due to economic uncertainty in the industry.
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The U.S. Energy Information Administration reported Thursday morning that U.S. natural gas stocks decreased more than expected for the week ending December 12.
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The oil patch is a tough place to make a living these days, and most observers believe it is going to get tougher.
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