Investor pressure is increasing for oilfield service companies to provide returns over growth. Opportunities may improve as the second half of 2019 unfolds.
Mexican Finance Minister Carlos Urzua said on April 13 he does not expect rating agencies to further downgrade the credit rating of state-owned energy company Pemex.
Laredo Petroleum, which operates primarily in the Permian Basin, expects the personnel cost reduction to result in roughly $30 million of annualized savings.
All but seven of 29 of the top independent shale producers in the U.S. last year spent more on drilling and shareholder payouts than they generated through operations, according to Reuters analysis.
Saudi Aramco, the world's biggest oil producer, made core earnings of $224 billion last year, almost three times as much as Apple.
The number of pipeline and storage terminal projects proposed to move shale to the U.S. Gulf Coast has dwindled amid steps by oil producers to pare exploration spending.
Simmons Energy analysts reveal that unconventional shale is “showing signs of stress” as E&Ps disclose performance-related reserve writedowns.