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Tag Archives: global crude prices

Diamond Offshore scraps rigs as demand weakens

Diamond Offshore Drilling Inc, one of the world’s top five offshore rig contractors, said it was scrapping three rigs in the face of weak demand due to a steep fall in global crude prices. The company said on Monday it recorded an impairment charge of $319 million for eight rigs, including the rigs being retired, in its first-quarter results. The ...

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Penn West says low oil prices no threat to dividend

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CALGARY, Alberta, Nov 5 – Penn West Petroleum Ltd , one of Canada’s largest conventional oil producers, said on Wednesday it can pay its dividend and fund its capital program even as falling oil prices cut into profits. The company, which on Wednesday reported a surprise quarterly loss compared with a year-earlier profit, moved to reassure investors that the 14 ...

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