oil and gas

Oil rig

Oil Rig Count Drops by 31, Hedge Funds Pile Up Short Positions

In the week ended February 5, the number of rigs drilling for oil in the United States totaled 467, compared with 498 in the prior week and 1,140 a year ...
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oil rig

Will International Rig Counts Fall Toward 1,000?

Everyone is wondering just how low the price of oil can go. The reality is that we now have an oversupply issue, rather than demand erosion from past boom-bust cycles ...
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Pump Jacks Against at Dusk

Secondary Offering Sinks Hess Shares

Very early Friday morning, independent oil and gas producer Hess Corp. (NYSE: HES) announced that it had priced an underwritten offering of 25 million shares of common stock at $39 ...
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Blue Flame

Natural Gas Price Slips Following Lower-Than-Expected Inventory Drawdown

The U.S. Energy Information Administration (EIA) reported Thursday morning that U.S. natural gas stocks decreased by 152 billion cubic feet for the week ending January 22. Analysts were expecting a ...
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oil tanks

Are US Crude Oil Storage Tanks About to Overflow?

The last time some analysts got jittery about the amount of crude oil in storage in the United States was March of last year, after the U.S. Energy Information Administration ...
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fracking

Deutsche Bank Raises Price Targets on 4 Exploration and Production Stocks

Smart investors who are not attending their first rodeo have seen this all before. The classic boom, then bust, then ultimately despair in the energy sector is not a new ...
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oil rig

ConocoPhillips Slashes Dividend, Chops Capex

ConocoPhillips (NYSE: COP) reported fourth-quarter and full-year 2015 results before markets opened Thursday. For the quarter, the oil and gas production company posted an adjusted diluted net loss per share ...
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Mine

Freeport-McMoRan Downgrade Seems Very Late, May Dash Recovery Hopes

Freeport-McMoRan Inc. (NYSE: FCX) has been battered during the commodity nosedive. Many analysts and investors have thrown in the towel now that shares are down about 80% from their 52-week ...
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Oil Barrels

Crude Oil Price Sinks as Inventory Rises by 7.8 Million Barrels

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning. U.S. commercial crude inventories increased by 7.8 million barrels last week, maintaining a total U.S. commercial ...
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Oil platform on sea

Jefferies Has 6 Top Reasons Why Oil Can Go Higher in 2016

Any time there is a gigantic collapse in pricing, the same questions are always asked. How is it possible that something that was consistently trading in the $100 range like ...
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Pump Jacks Against at Dusk

Exploration and Production Sector Takes Big Rating Downgrade From Standard & Poor’s

The credit ratings agency Standard & Poor's has just downgraded many of its official corporate credit ratings in the oil and energy patch. It took ratings actions on 20 different ...
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Oil rig

3 Permian Basin Stocks to Escape the Oil Carnage

Despite the constant chatter that there is a huge oil glut and that it can only get worse, the reality, according to Merrill Lynch, is that global oil demand grew ...
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oil tanker

Exxon Reports Annual Profits Dive 58%, Slashes 2016 Capex by 25%

Exxon Mobil Corp. (NYSE: XOM) reported estimated fourth-quarter and full-year 2015 results before markets opened Tuesday. For the quarter, the integrated oil and gas giant posted quarterly diluted earnings per ...
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crude oil terminal

BP Posts $5.2 Billion Loss in 2015

BP PLC (NYSE: BP) reported fourth-quarter and full-year 2015 results before markets opened Tuesday. For the quarter, the oil and gas supermajor posted adjusted diluted earnings per American depositary share ...
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oil train

What to Look for in Exxon’s Earnings Report

Exxon Mobil Corp. (NYSE: XOM) is expected to release its fourth-quarter earnings before the markets open on Tuesday. Thomson Reuters has consensus estimates of $0.64 in earnings per share (EPS) ...
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