HOUSTON (Reuters) – The world’s largest oil companies are pumping more natural gas than ever before, helping to spur a rise in...
Houston oilfield services company Baker Hughes reported Friday its weekly rig count report. Oil Markets Oil prices are rising Monday amid an...
That’s not a typo. It’s the truth about the world’s most dynamic energy superpower, and what the Eagle Ford and Permian Basin have done...
Investopedia – by Gary Ashton ~ Oil had another bumpy week and closed 3.2% lower, with Monday making up most of the weekly...
Linn Energy Inc. subsidiary Blue Mountain Midstream LLC has commissioned part of its Chisholm Trail III cryogenic processing plant in Grady County,...
Houston oilfield services company Baker Hughes reported Friday its weekly rig count report. Oil Markets The oil market is “stretched to the...
(Bloomberg) — Standing high on top of a windswept dune in the Texas plains, Greg Edwards stares out into a vast ocean...
If President Donald Trump is not the most significant player in global oil markets today, he’s at least its biggest wild card....
We could be on the cusp of more than $50 billion worth of oil and gas deals through the rest of 2018...
Tallgrass Energy, LP (TGE-OLD) (NYSE: TGE) (“Tallgrass”) and Silver Creek Midstream, LLC (“Silver Creek”) today announced a binding open season soliciting additional...
U.S. stocks closed higher on Friday but off the session's high, with the S&P 500 and Dow Jones Industrial Average logging back-to-back weekly losses ahead of the Nov. 5 presidential election.
Rising bond yields have been a concern in the run-up to the election, which remained too close to call on Friday and might take days or weeks to decide.
The Dow Jones Industrial Average gained 288.76 points, or 0.7%, ending at 42,052.19 on Friday
The S&P 500 advanced 23.55 points, or 0.4%, closing at 5,728.80
The Nasdaq Composite gained 144.77 points, or 0.8%, finishing at 18,239.92
For the week, the Dow shed 0.2%, while the S&P 500 fell 1.4%, its biggest weekly drop since Sept. 6, according to Dow Jones Industrial Average. Both indexes posted back-to-back weekly declines.
The Nasdaq fell 1.5% for the week, its biggest weekly loss since Sept. 6, while snapping seven straight weeks of gains.
ExxonMobil's third-quarter financial report showed mixed results. Net profits of $8.6 billion decreased 5.1% from the previous year, primarily due to weaker refining margins. However, the company maintained strong shareholder returns, distributing nearly $10 billion through dividends (increased by 4%) and share repurchases. The company's performance was bolstered by record oil and natural gas production in Guyana, strong Permian Basin output, and $11.3 billion in structural cost savings.
The broader energy market context showed some challenges, with crude oil prices falling about 15% since the end of the second quarter. CEO Darren Woods attributed this to a market imbalance, noting record demand for oil and petroleum products and abundant supply, particularly from U.S. unconventional developments. Similarly, competitor Chevron reported a more significant decline in profits, down 31% to $4.5 billion, though they too achieved record shareholder returns of $7.7 billion and strong production in the Permian Basin.
By Ernest Scheyder |HOUSTON (Reuters) – Exxon Mobil said on Wednesday it has signed...
By Jarrett Renshaw (Reuters) – U.S. President-elect Donald Trump does not intend to spare...
Thanksgiving Day, 6:42 a.m. The faint glow of sunrise illuminated the empty parking lot...
(Reuters) – Oil prices were little changed on Wednesday, pressured by a large surprise...
APA Corporation, a Houston-based oil and gas exploration company, is expanding its partnership with...
Story By Mella McEwen | Midland-Telegram Reporter |Devon Energy has begun detailing the results...
Donald Trump’s transition team is preparing to make energy a top priority, aiming to...
ONEOK, Inc. [OKE.N] and EnLink Midstream, LLC [ENLC.N] have announced that they have executed...
ConocoPhillips has recently made headlines with its acquisition of Marathon Oil, a move that...
By Kaanita Iyer, CNN |President-elect Donald Trump has chosen North Dakota Gov. Doug Burgum to...
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Suspected sabotage of Baltic Sea communication cables has sparked investigations and heightened tensions between...
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