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  • Schlumberger: First Out of the Box
    SLB: says will exit seismic acquisition market; posts almost a billion-dollar write down for Venezuela Schlumberger Limited (ticker: SLB) reported its results for fourth quarter and full-year 2017. Highlights Fourth quarter revenue of $8.2 billion, increased 3% sequentially Fourth quarter pretax operating income of $1.2 billion, increased 9% sequentially Fourth quarter GAAP loss per share, […]
  • U.S. Rig Count Drops by Three
    Oil drilling rigs down five, gas up two Drilling activity decreased in the U.S. this week, as activity pulled back slightly from the large increase seen last week, according to Baker Hughes’ Rig Count. Three rigs shut down this week, bringing the total U.S. rig count to 936. All three rigs that shut down were […]
  • Nine Energy Services Launches Second Successful Oilfield Service IPO in 2018
    Company shares up 26% in intraday trading Nine Energy Service (ticker: NINE) launched its IPO today, becoming the second major service company to go public this year. Last night, Nine said it would offer a total of 7,000,000 shares of its common stock, priced at $23 per share, with the potential to upsize the offering […]
  • Texas Economic Activity, Oilfield Hiring Up: Dallas Federal Reserve
    Activity in the Eleventh Federal Reserve District’s energy sector gained momentum in the fourth quarter of 2017, according to the Dallas Fed Energy Survey. The business activity index—the survey’s broadest measure of business conditions—climbed over 10 points to 38.1, with the increase driven by the exploration and production side of the industry. Oil and gas […]
  • Stable Oil Prices Key to 2018 M&A: Gibson Dunn
    With oil prices near three-year highs, 2018 may be the long-awaited year for a jump in M&A deals according to attorneys Gibson Dunn. The firm recently hosted a webcast that focused on the state of M&A in the oil and gas business. When oil prices dove in late 2014 and throughout 2015, many analysts predicted […]
  • OPEC Cut Compliance Rises to 118% on Venezuelan Production Decline
    Nigerian actions confirm it will not cap its oil output OPEC has released this month’s Monthly Oil Market Report, outlining the cartel’s assessment of the state of the international oil industry. The cartel increased production in December, partially reversing the significant decline seen last month. Total OPEC production grew by 42.4 MBOPD in December, compared […]
  • Keystone XL Pipeline on Track to Begin Primary Construction in 2019
    Open season for Keystone’s additional capacity from Canadian oil producers to U.S. refineries secures 500,000 BOPD 20-year commitments The Keystone XL open season has concluded with 500,000 BOPD 20-year commitments secured. This allows the proposed project to proceed. TransCanada Corporation (ticker: TRP) said that interest in the pipeline remains strong and the company will continue […]