Oil & Gas

Bloomberg Markets - Drillers Remove Five Rigs From Service in American Oil Fields

Drillers Remove Five Rigs From Service in American Oil Fields

U.S. crude posts weekly loss for first time since mid-December International Energy Agency warns of 'explosive' U.S. growth U.S. oil explorers shut down rigs this week as concerns mounted that American drilling has expanded too much too quickly. Working rigs drilling for crude in the U.S.

Bloomberg Markets - Options Traders' `Butterfly' Bets Signal Oil Rally Not Over

Options Traders Place `Butterfly' Bets That Oil Rally Not Over

Options trading is signaling that the longest rally in U.S. crude oil since December has a few dollars to go. Volume in West Texas Intermediate call options, which give the holder the right to buy crude in the future at a set price, surged on Tuesday to the highest since March.

Energy Business Review - API: Oil And Gas Drilling Sees 35% Increase Over 2016 Levels

API: Oil And Gas Drilling Sees 35% Increase Over 2016 Levels

Published 07 April 2017 American Petroleum Institute (API) has announced that estimated total wells drilled and completed in the first quarter of 2017 saw an increase of 35 percent compared to the first quarter of 2016. This is a drastic improvement from 2016 levels which saw a 59% decrease in total wells drilled and completed from the previous year.

Energy Business Review - Repsol makes major onshore oil discovery in Alaska, US

Repsol makes major onshore oil discovery in Alaska, US

EBR Staff Writer Published 10 March 2017 Spanish firm Repsol and its partner Armstrong Energy have reported a discovery of a massive oil field in Alaska which is estimated to hold 1.2 billion barrels of recoverable oil. Drilled during the 2016-2017 winter campaign, the Horseshoe-1 and 1A wells confirmed the Nanushuk play as a significant emerging play in Alaska's North Slope.

Automation World - U.S. Oil and Gas Not Keeping Pace With Security Concerns

U.S. Oil and Gas Not Keeping Pace With Security Concerns

They say that the first step to recovery is admitting you have a problem. Some of the studies that have been coming out lately with regard to industrial cybersecurity seem to be geared primarily toward discovering perceptions. But if the perception is that there's a problem, chances are that industry is more likely to take the steps necessary to do something about it.

Bloomberg Markets - Watch Out OPEC, the Americans Are Coming

Watch Out OPEC, the Americans Are Coming

OPEC's decision to cut output for the first time in eight years has put a rocket under oil prices. They've gained almost 20 percent since Nov. 30 when OPEC officials convened in Vienna. It's not all sunny uplands for the oil dignitaries, however, because the rally will spur production in the U.S.