Oil prices fell as much as 7 percent on Monday, dipping below $30 as investors’ focus returned to the market’s oversupply amid news that Iraq’s output reached a record last month. U.S. crude settled down $1.85, or 5.75 percent, at $30.34 a barrel, and later fell further to $29.71 per barrel. Brent crude, the global …
Oilfield services giant Schlumberger is spending $10 billion to buy its own shares. The company reported fourth-quarter earnings after the closing bell on Thursday, and it beat on earnings with revenues virtually in line with expectations. With the earnings results, Schlumberger announced its board’s approval of the buybacks, in addition to the near-complete $10 billion program it started in …
Petro River Oil Corp. to Acquire a 9% Interest in Petroleum Licenses Located in the Larne Basin in Northern Ireland NEW YORK, NY, January 19, 2016– Petro River Oil Corp. (OTCBB: PTRC) (“Petro River” or the “Company”), today announced that Petro River UK Limited, its wholly owned subsidiary, entered into a Farmout Agreement to acquire a 9% interest …
During the U.S. shale boom, fortune favored the bold drillers that discovered and pumped oil fastest. Today the winners are producers like Pioneer Natural Resources who best shielded themselves from tumbling prices. Using derivative transactions known as swaps and collars, the Texas-based firm locked in a minimum price for 85 percent of this year’s production. …
STAVANGER, Norway (Bloomberg) — With oil dropping below $30/bbl, producers in western Europe’s biggest crude exporting nation are now considerably worse off than they were in the darkest hours of 2008. Norway’s oil “industry is in a crisis now, we can’t deny that,” Bente Nyland, director general of the Norwegian Petroleum Directorate, told Bloomberg. Nyland …
Two bucks buys you a gallon of gas in many parts of the country these days. But if you think that’s a bargain, check out the deals on energy stocks, which haven’t looked this attractive since the mid 1980s, when Dallas’s J.R. Ewing was scheming to crush his enemies and expand his empire. Collapsing crude …
WASHINGTON — President Obama, in his final State of the Union address on Tuesday night, boldly proclaimed the successes of what he called “the single biggest investment in clean energy in our history,” the 2009 economic stimulus that pumped $80 billion into clean and renewable energy projects. “In fields from Iowa to Texas, wind power …
CGG SA, the troubled French oilfield surveyor, said it will sell as much as 350 million euros ($379 million) of new shares at a 72 percent discount to finance its turnaround plan as a slump in crude prices curbs demand for its services from exploration companies. “This capital increase of 350 million euros will be …
Statoil (NYSE:STO) has increased its exposure to its home market by buying a big stake in Lundin Petroleum (OTCPK:LNDNY), boosting its presence in the Johan Sverdrup field, Norway’s biggest offshore project in decades. The Norwegian state-controlled oil major bought 11.9% in the Swedish company for SEK4.6B ($539M) making the acquisition Statoil’s first big deal since …
We are pleased to announce a new audio interview with Stephen R. Brunner, President of Petro River Oil Corp. OTCPink: PTRC Mr. Brunner has over 30 years of experience in domestic and international operations in the exploration and production industry as well as extensive public company management experience. Since 2008, Mr. Brunner has served as …