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Tag Archives: oil and gas

US rigs down 9 this week to 700

HOUSTON — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by nine this week to 700. The Houston firm said Wednesday 538 rigs sought oil and 162 explored for natural gas amid depressed energy prices. A year ago, 1,840 rigs were active. Among major oil- and gas-producing ...

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Oil, gas producers urge BLM to reconsider proposed rules

The Independent Petroleum Association of America on Monday urged the U.S. Bureau of Land Management to reconsider its approach and work with the industry on proposed rules to update, replace and codify three of its Onshore Oil and Gas Orders. The BLM’s proposed rules would result in substantial changes to the way U.S. onshore oil and gas operations are conducted ...

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3 earthquakes rattle parts of state near site of 4.7 quake

earthquakes, cherokee oklahoma

CHEROKEE, Okla. — Three earthquakes have rattled parts of Oklahoma near the site of last week’s 4.7 magnitude temblor. The U.S. Geological Survey says earthquakes of 4.4, 3.5 and 3.0 magnitudes were recorded Monday afternoon near the town of Cherokee. There were no immediate reports of damage. Last Thursday, a magnitude 4.7 quake near that town shook parts of northern ...

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ND researcher developing smart pipeline technology

A researcher at North Dakota State University wants to create safer oil and gas pipelines. Fardad Azarmi is developing a thermal spray coating that would prevent corrosion inside pipelines. The coating is a mixture of metal and ceramic particles. Sensors that can identify corrosion and measure stress or cracking in critical sections of a pipeline are baked into the coating. ...

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Oil industry slipping into the red as outlook dims

LONDON/HOUSTON – The oil sector is slipping into the red after years of fat profits as the steep slump in oil prices shows little sign of ending, with this quarter shaping up to be the worst since the downturn started. The world’s top oil companies have struggled to cope with the halving of oil prices since June 2014. They have ...

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Marathon Oil slashes dividend, capex to save cash

U.S. oil producer Marathon Oil Corp on Thursday said it is slashing its quarterly dividend 76 percent and further reducing capital expenditures to preserve cash on hand as it tries to withstand a prolonged crude price slump. Crude prices have lingered below $50 a barrel for weeks, a level that renders some shale oil drilling unprofitable. To free up needed ...

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