This discovery could expand its production by 100,000 barrels of oil per day over the next five to six years.
THE BOARD OF DIRECTORS OF RIVER AND MERCANTILE UK MICRO CAP INVESTMENT COMPANY LIMITED ANNOUNCE ANNUAL FINANCIAL REPORT RESULTS FOR THE YEAR ENDED 30 SEPTEMBER 2016
Low fuel costs and improving macroeconomic factors helped the auto sector to record impressive volumes in 2016. While sales hit an all-time high in the U.S., China and Europe markets also reported strong volumes.
The offshore drilling Industry is suffering through the worst bear cycle in history. The oil crash that began late in 2014 has had a terrible effect particularly on the offshore drilling players such as Transocean (NYSE:RIG), Seadrill (NYSE:SDRL), Rowan Companies (NYSE:RDC), Ensco Plc. (NYSE:ESV) or Noble Corporation (NYSE:NE) and another dozen or more companies struggling to avoid a financial meltdown, due to a basic lack of work, dismal day rates and rig oversupply which is the unavoidable trichotomy of an offshore drilling bear market.
Seadrill (NYSE:SDRL) shareholders got a glimpse into the future earlier this week when beleaguered jack-up driller Paragon Offshore (OTCPK:PGNPQ) announced a plan of reorganization with its secured lenders. The Noble (NYSE:NE) spin-off suffered from a fleet comprised primarily of old jack-ups and poor management.
Abraxas Petroleum (NASDAQ:AXAS) says it will raise its 2017 planned capex to $110M from $60M earlier, citing strong results from its first Wolfcamp completion in the Delaware Basin.
Cabot Oil & Gas (COG +2.8%) rallies by as much as 4%, the most in four weeks, as natural gas pipelines that will move supplies from shale formations in the eastern U.S. progress toward development.
The Willow find, combined with several other developments in the area and the possibility of future discoveries, should turn Alaskan into a growth asset after years of declines.
Expansion mode: An ExxonMobil refinery in Baytown, Texas. ExxonMobile and Noble Energy have struck deals worth nearly US10bil combined for a larger slice of the Permian Basin, the largest US oil field. — Reuters
Yesterday, January 18, 2016, Paragon Offshore released a Form 8-K filing in which the company is indicating a new bankruptcy plan in process.
Devon Energy Corporation is aggressively ramping up development of one of its best unconventional plays, the Delaware Basin.
Following a plethora of jumps and drops, the price of crude oil rose an impressive 45% last year. This helped ‘Energy’ to be crowned as the top performing S&P sector in 2016 with a market-thumping 24% return.
London-based oil and gas producer, Tullow Oil Plc (TUWOY - Free Report) recently issued a statement regarding its operational activities. The company also provided a financial update for 2016 along with issuing guidance for 2017. Following the Annual General Meeting on Apr 26, the company plans to appoint Paul Mc Dade as the new CEO replacing Simon Thomson.
Millions of investors rely on mutual funds as the backbone of their investing strategy. With thousands of mutual funds to choose from, though, it can be hard to pick the best one for current market conditions. As 2017 begins, we decided it would be good to give you some smart fund choices to think about for the coming year. Here you'll learn about Vanguard Energy Fund (NASDAQMUTFUND:VGENX), Vanguard Value Index (NASDAQMUTFUND:VIVAX), and Vanguard Inflation-Protected Securities Fund (NASDAQMUTFUND:VIPSX).
Last year was a bounce-back one for Anadarko Petroleum (NYSE:APC). The global oil and gas producer's stock rebounded 42%, which helped it start climbing back from an awful 2015 when the stock price nearly got cut in half. Igniting that rally was an end in the slide of crude prices, which roared back to life by year-end. While crude prices are still half what they were before starting on the downward spiral, Anadarko has gotten its costs down to the point where it can thrive at lower prices.
The oil/energy space is in the initial phase of the fourth-quarter earnings season, with reports from only around 8.2% S&P 500 members on board. Given that most of the leading energy players are yet to come up with their results, let’s take a look at the movement of oil and gas prices during the quarter. This is because the prices of these commodities have a direct impact on the performance of energy players.
Industrial production staged a strong rebound in December with unexpectedly warm weather leading to an increase in utility output over the month. Manufacturing output also increased, brightening the outlook for a sector which had remained embattled over nearly all of last year.
HOUSTON, TX--(Marketwired - Jan 19, 2017) - ERHC Energy Inc. (OTC PINK: ERHE), a publicly traded American company with oil and gas assets in Sub-Saharan Africa, today announced the signing of a Memorandum of Understanding (MOU) with an Starcrest Nigeria Energy Limited.
WLL could achieve production growth of at least 10% in 2017 as it completes its drilled but uncompleted wells, or DUCs, which will lead to an improvement in financials.
WPX Energy (NYSE:WPX) was quietly one of the best-performing stocks on the market last year. The oil and gas producer went on an epic run, which saw its stock more than double over the course of the year:
Exxon's acquisition reinforces U.S. onshore oil production trends and creates a hedge in the case of continued lower oil prices.
DALLAS, TX--(Marketwired - Jan 19, 2017) - Dorchester Minerals, L.P. (NASDAQ: DMLP) announced today the Partnership's fourth quarter 2016 cash distribution. The distribution of $0.241475 per common unit represents activity for the three-month period ended December 31, 2016 and is payable on February 10, 2017 to common unitholders of record as of January 30, 2017.
Statoil ASA is now field testing in its Eagle Ford operations an Internet of Things (IoT) device that continuously monitors methane emissions.
New equity expected to be distributed to senior lenders and bondholders with current equityholders being wiped out entirely.
In this article I decided that it would be a good idea to go over some recent data provided by OPEC in order to assess production trends.