Energy Update
(Thu, 28 Jul 2016) Stripper wells, also known as marginal wells, individually produce small volumes of natural gas or oil but in total have provided 11% to 15% of total U.S. oil and natural gas production over the past decade. Natural gas stripper wells (so called because they are stripping the remaining natural gas out of the ground) are characterized as producing no more than 90,000 cubic feet per day over a 12-month period.
SINGAPORE, July 28 (Reuters) - Singapore oil field services
firm Swiber Holdings Ltd filed an application to wind
up the company and said a Singapore court had appointed
provisional liquidators, making it the biggest local name to
fall victim to the slump in oil prices.
SINGAPORE, July 28 (Reuters) - Singapore oil field services
firm Swiber Holdings Ltd said it had filed an
application to wind up the company and a Singapore court had
appointed provisional liquidators, the latest local casualty of
the slump in oil prices.
NEW YORK, July 27 (Reuters) - Investors reeling from several
quarters of declines from U.S. energy companies are optimistic
that a recent oil rebound may help boost results of exploration
and production companies reporting in the coming days.
MELBOURNE, July 28 (Reuters) - BHP Billiton
will book a charge of up to $1.3 billion to cover the costs of a
dam disaster last November at the Samarco iron ore mine in
Brazil, putting it on course to report its worst ever annual
loss.
MELBOURNE, July 28 (Reuters) - BHP Billiton
said on Thursday it would book a provision of between $1.1
billion and $1.3 billion in its annual results to cover costs of
the dam disaster in November at the Samarco iron ore mine in
Brazil.
July 27 (Reuters) - Rig contractor Noble Corp Plc
reported a lower-than-expected quarterly profit and lowered its
2016 capital expenditure as oil producers reduced spending to
weather a prolonged slump in crude prices.
WILMINGTON, Del., July 27 (Reuters) - A U.S. Bankruptcy
judge said on Wednesday she would approve Sabine Oil & Gas
Corp's plan of reorganization, which would clear the
way for the Texas energy producer to exit Chapter 11 after a
year-long battle with its creditors.
July 27 (Reuters) - Whiting Petroleum Corp, North
Dakota's largest oil producer, posted a worse-than-expected
quarterly loss on Wednesday as production fell and crude prices
dropped.
July 27 (Reuters) - Whiting Petroleum Corp, North
Dakota's largest oil producer, posted a quarterly loss on
Wednesday that more than doubled as production fell and crude
prices dropped.
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