Industry News

Raymond James: Get Ready for $80 Oil

“When oil drilling activity collapses, oil supply goes down too!” Rebounding after a two-year collapse, it’s only this month that oil’s...

Oil jumps on large US crude drawdown, fading Brexit fears

Oil prices jumped more than 2 percent on Wednesday after the U.S. government reported a larger-than-expected weekly drawdown in crude inventories,...

World Economic Order Shaken- Oil Prices Dive After UK Votes To Leave EU

The world economic order has been shaken. Oil prices are plummeting Friday morning after the UK on Thursday voted to leave...

U.S. Oil Production Fell 150,000 Barrels Per Day in May

Posted in The Petroleum Truth Report on June 8, 2016 U.S. crude oil production fell 150,000 barrels per day in May and the...

Oil at $85 by the end of the year: Rothman

While market watchers exclaim there’s a crude glut, that excess oil is nowhere to be found, according to Cornerstone Analytics’ founder....

Deloitte: Oil and Gas Underinvests by $1 Trillion

A new study published Wednesday by consultants Deloitte finds that the oil and gas industry will need to make a minimum...

Oil companies focus on production over exploration as low oil prices reduce value of new reserves

For the second consecutive year, oil companies worldwide produced more oil and natural gas than they added to their proved reserves,...

U.S. rig count climbs for second straight week, still down by half from last year

The U.S. rig count posted another week of gains but is still hovering near-record lows. The number of oil and gas...

U.S. shale oil output to dip for seventh consecutive month: EIA

U.S. shale oil output is expected to fall in July for the seventh consecutive month, according to a U.S. government forecast...

Disintermediation Of Private Equity

BEAU STARK GIBSON DUNN OIL AND GAS resource funds are putting pressure on the traditional energy-focused private equity fund model. Promising to...

Private Companies Dominate US Upstream M&A In Q1 2016

MARK YOUNG, EVALUATE ENERGY NEW ANALYSIS in Evaluate Energy’s M&A Review for Q1 2016 shows that privately held companies had a huge impact on the...

Baker Hughes Announces May 2016 Rig Counts

HOUSTON–(BUSINESS WIRE)–Baker Hughes Incorporated (NYSE:BHI) announced today that the international rig count for May 2016 was 955 up 9 from the...

SandRidge Energy Files for Bankruptcy Protection

Oklahoma City oil and gas company becomes latest victim of downturn in energy sector By: Erin Ailworth and Stephanie Gleason SandRidge...