Oil Glut Deeper Than Just Crude Exposed as Recovery Stumbles

Oil Glut Deeper Than Just Crude Exposed as Recovery Stumbles

Grant Smith, Bloomberg, For almost two years, the spotlight in the global oil market has been on a surplus of crude. The latest stumble in prices has shown that the glut extends further. As the U.S. shale boom sputters and the nation’s crude inventories post the longest pullback on record, there are signs that, although stockpiles […]

Oil slips as U.S. stock build raises glut worries

Oil slips as U.S. stock build raises glut worries

Christopher Johnson, Reuters: Oil prices slipped on Thursday after a rise in U.S. gasoline inventories helped push U.S. oil stocks to a record high, reinforcing worries of a global oversupply. U.S. crude and oil product stocks rose 2.62 million barrels in the week to July 15 to an all-time high of 2.08 billion barrels, the U.S. […]

U.S. crude hits two-month low ahead of U.S. inventory data

U.S. crude hits two-month low ahead of U.S. inventory data

Barani Krishnan, Reuters: U.S. crude oil futures hit 2-month lows on Wednesday on technical selling pressure and liquidation by investors fearing a supply glut despite impending government crude inventory data likely to show a drawdown. The front-month August contract CLQ6 for U.S. crude’s West Texas Intermediate (WTI) futures was down 80 cents, or 1.8 percent, at […]

Commissioner’s Authority Upheld

Commissioner’s Authority Upheld

By: Don Briggs President, Louisiana Oil and Gas Association So many times our companies walk into the courtroom and look at the next few years fly by as they spend their time in painfully draining litigation. However, with the recent refusal by the Louisiana Supreme Court to consider an appeal by St. Tammany Parish and […]

Encouraging signs for oil and gas

Encouraging signs for oil and gas

By Don Briggs President, Louisiana Oil and Gas Association   The last year and a half has brought about vast changes for the global oil and gas market. Prices have fallen from $113 a barrel in 2014 to $27 dollars more recently. However, over the last month we have seen those prices nearly double. This […]

By June 16, 2016 0 Comments Read More →
Coastal litigation unnecessary, “sue-and-settle” tactics inappropriate

Coastal litigation unnecessary, “sue-and-settle” tactics inappropriate

By Don Briggs President, Louisiana Oil and Gas Association   Lawsuits certainly have a way of getting everyone’s attention, especially here in Louisiana. With a well-established reputation as a “judicial hellhole,” our state is known for having a legal system that seems to operate more like a litigation lottery than a network of fair and […]

By May 31, 2016 0 Comments Read More →

Shell to cut jobs in the Gulf of Mexico amid weak oil prices

Jennifer Larino, The Times-Picayune: Shell plans to cut, consolidate or relocate more than 150 offshore jobs in the Gulf of Mexico as part of an effort to shave 2,200 positions across its global operations this year. The restructure offshore follows job cuts at the company’s New Orleans office amid weak oil prices. Shell has decided to move […]

Traders eye export markets as U.S. crude futures pummeled

Liz Hampton, Reuters: A ballooning spread between the price of U.S. and European oil, coupled with lower shipping costs, has traders scrambling to take advantage of what may be a brief window of opportunity to ship crude to higher priced markets. The premium for Brent futures relative to U.S. West Texas Intermediate (WTI) crude rose above […]

Schlumberger cut more than 8,000 jobs in 2nd quarter

Jordan Blum, FuelFix: Schlumberger, the world’s largest oilfield services company, cut more than 8,000 jobs while recording a $2.16 billion loss in the second quarter. Schlumberger, Houston’s largest energy employer as of a month ago, has now eliminated about 50,000 jobs in the two years of the ongoing oil bust…

Restructuring Update and Revised Earnings Release Date

This post was originally published on this siteHOUSTON, July 22, 2016 (GLOBE NEWSWIRE) — Halcón Resources Corporation (NYSE:HK) (“Halcón” or the “Company”) today provided an update on its restructuring plans as well as an update on its second quarter earnings timing.    Restructuring Update As previously announced, Halcón is pursuing a balance sheet restructuring through […]

By July 22, 2016 Read More →

Noble Energy Commences Production at Gunflint in the Gulf of Mexico

This post was originally published on this siteHouston, July 21, 2016 (GLOBE NEWSWIRE) — Noble Energy, Inc. (NYSE: NBL) (“Noble Energy” or “the Company”) announced today that it has recently commenced production at the Company’s Gunflint oil development in the deepwater Gulf of Mexico.  The two-well field is ramping up and is anticipated to reach […]

By July 21, 2016 Read More →

Shell Midstream Partners, L.P. Declares 6.4% Increase in Quarterly Distribution

This post was originally published on this siteHouston, July 20, 2016 (GLOBE NEWSWIRE) — Shell Midstream Partners, L.P. (NYSE: SHLX) announces that the Board of Directors of its general partner declared a cash distribution of $0.2500 per limited partner unit for the second quarter of 2016.  This represents an increase of 6.4 percent over the […]

By July 20, 2016 Read More →

Other Recent Articles

Louisiana leaders weigh possible short-term loan to shore up cash flow

Elizabeth Crisp, The Advocate: Louisiana leaders are developing a game plan just in case the state starts to experience cash flow problems in the coming months. The State Bond Commission on Thursday agreed to give staff the authority to develop a short-term borrowing plan that could be implemented if the state isn’t able to keep up […]

Louisiana Republican Party looking for new leadership

WWL: With Bobby Jindal out of office and Senator David Vitter leaving politics soon, it begs the question as to who is the face of the Republican Party in Louisiana. ULM political science professor Dr. John Sutherlin says Vitter and Jindal were the top two GOP figureheads for years and the winner of this fall’s […]

Treasurer calls for Sen Troy Brown to resign after latest domestic violence arrest

Katie Moore, WWL: BATON ROUGE – La. State Treasurer John Kennedy called for Sen. Troy Brown, D-Napoleonville, to step down Thursday after the Senator was arrested a second time for domestic violence over the weekend. “Violence against women is completely unacceptable for anyone, much less an elected official.  The state spends tens of millions of dollars a […]