Monthly Archives: January 2015

ConocoPhillips Production Up 4%, Cuts Capex Again by $2B

Charlie Passut – January 29, 2015 – NGIs Shale Daily ConocoPhillips said its year-over-year (y/y) production from continuing operations, excluding Libya, grew 4% in 2014, fueled by growth from major projects, development programs and a 35% y/y increase in combined production … Continue reading

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Erie rejects fracking freeze

Board was mulling moratorium or, at least, a promise. By Mark Jaffe – The Denver Post – January 28. 2015 The Erie Board of Trustees Tuesday night voted not to impose a moratorium on new oil and gas drilling permits on a … Continue reading

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WPX Energy hits pause button in Colorado natural gas field

Cathy Proctor – Reporter-Denver Business Journal – January 26, 2015 Low oil prices aren’t the only source of problems in Colorado’s energy industry. Dropping natural gas prices are also leading some energy companies to cut back in the state. Tulsa, Oklahoma-based WPX … Continue reading

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Hedge Funds Bet Oil Has Further to Fall as Glut Grows: Energy

By Mark Shenk – Jan 25, 2015 – Bloomberg News Hedge funds boosted bearish wagers on oil to a four-year high as U.S. supplies grew the most since 2001. Money managers increased short positions in West Texas Intermediate crude to … Continue reading

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Oil Slides to Near 6-Year Low; Saudi Arabia Holds Firm Despite Supply Glut

By Heesu Lee – Jan 25, 2015 – Bloomberg News Oil fell to the lowest level in almost six years as signs that Saudi Arabia’s new king will maintain its production policy and rising U.S. crude inventories bolstered speculation that … Continue reading

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Baker Hughes to lay off 7,000 as oil patch layoffs mount

Gary Strauss – USA TODAY – January 20, 2015 As crude oil prices continue slipping, pink slips are mounting in the oil patch. The latest: oilfield services provider Baker Hughes(BHI), which said Tuesday it plans to lay off about 7,000 employees … Continue reading

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Oil and gas chief: Local government needs more say in siting oil, gas wells

By Mark Jaffe – The Denver Post – January 15, 2015 GREELEY — The movement of large-scale oil and gas operations into Front Range suburbs is creating pressures not being addressed by state rules, Colorado’s top oil and gas regulator said … Continue reading

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Schlumberger Cuts Jobs, Records Charge After Oil Collapse

By David Wethe – Jan 15, 2015 – Bloomberg News Schlumberger Ltd. (SLB), the world’s biggest oilfield-services company, tackled the “uncertain environment” of slumping crude prices head-on by cutting 9,000 jobs and lowering costs at one of its biggest businesses. The 7.1 … Continue reading

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