Energy sector shifts as price debate centers on $50 line
The market shows surface oil tech in North America stabilizing while forecasts assume little change through year end. Oil prices hover near $50 with near term below that level yet futures four months out hold. Crude has formed two lows near $45 and appears set for a third, risking weaker demand and shakeouts like Hercules Offshore’s pending Chapter 11.
MENTIONED IN THIS ARTICLE
New York Mercantile Exchange
NYMEX
Hercules
Houston
ELAM
Oil rebound in Permian Mix Fueled by Drilling Rise
In the oil patch the downturn may be easing as Permian Basin activity edges higher with 10 new rigs over two weeks and Pioneer Natural Resources adding two rigs to hit a planned 36 horizontal rigs in 2016. Yet prices hovering near 50 dollars a barrel keep energy companies cautious and planning to preserve cash.
MENTIONED IN THIS ARTICLE
Matt Soto
Schlumberger
Soto
Oklahoma
San
Plains
West Texas
Permian
Baker Hughes
Dale Redman
ProPetro
Pioneer Natural Resources
Pioneer
Eagle Ford
Scott Sheffield
Apache Corpo
Apache
Midland
Tudor, Pickering, Holt and Company
Occidental Petroleum
Concho Resources
Concho
Oilpro.com
Trepke
Saudi
Arabia
Odessa
Halliburton
Weatherford
Permian Basin
Also Mentioned on This Page
Nergy
Allen Gilmer
North America
Charles Sledge
CRO
Cameron International
Bernard Duroc-Daner
Weatherford International
Dennis Elam
Texas A&m San Antonio
Andrews High School
the Market Perspective
West County Road
Capstar Drilling Co
Ector County
Courtney Saccojodessa
Argus Media
Tinyurl.com
Joseph Triepke
Hanson
Productos Summit
Marshaltown
Quick Crete Smith
Lehigh Cement
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