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Rising energy prices and geopolitical instability could force more nations to explore shale gas reserves, leading to wider opportunities for fracking.
U.S. shale production has beaten the estimates of even the most bullish analysts, but as oil prices fall they continue to struggle with producing a profit
The Zacks Analyst Blog Highlights: Royal Dutch, Par Pacific, Precision Drilling, Petrobras and Ecopetrol
Royal Dutch Shell (RDS.A) became the first oil company to link executive pay with carbon emissions, while Par Pacific Holdings (PARR) entered into an acquisition to bolster its downstream operations.
Last week, the oil rig count fell by one to 887—the second-highest level since March 6, 2015. The rig count tends to follow US crude oil prices with a three to six-month lag. In February 2016, US crude oil prices fell to the lowest closing level in 12 years. Between February 11, 2016, and December 3, 2018, US crude oil active futures rose 102%.
Differentiating technology, strong financials and high demand for Helmerich's (HP) FlexRigs make the stock an attractive pick at the moment.
The Zacks Analyst Blog Highlights: Ranger Energy, Enterprise Products, Phillips 66, Cimarex and Helmerich
Completions of new US shale wells have fallen more sharply than expected in the fourth quarter, and the slowdown in activity is likely to stretch into next year, the oilfield services group Schlumberger has said. Patrick Schorn, an executive vice-president of Schlumberger, told a conference in New York that activity had stopped rising in the third quarter of the year and was falling in the fourth quarter, and predicted that would “show up in the production numbers for the first half of 2019”.
RPC said discussions with Apollo, a New York-listed private equity firm, were ongoing. It has given Apollo until Dec. 21 to make firm buyout offers or walk away, in the third extension of a deadline. Shares of London-listed RPC fell 3.7 percent, erasing most of the 5 percent gain it has made since reports of merger talks appeared in September.
Stocks that moved substantially or traded heavily Friday: Marriott International Inc., down $6.81 to $115.03 The hotel chain announced a data breach that affects as many as 500 million guests. LabCorp ...
Embattled Interior Department Secretary Ryan Zinke on Friday angrily lashed out Rep. Raul Grijalva of Arizona, who had called on him to resign. Zinke said the Arizona Democrat used tax dollars to pay off a staffer with "hush money to cover up his drunken and hostile behavior."
Investing.com - General Electric (NYSE:GE) took another drubbing in midday trading, while energy stocks were hamstrung again by falling oil prices.
While the company's guidance and backlog raise optimism about TechnipFMC (FTI), we are not certain if the company can turnaround soon.