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Rigzone Recent News

1. Oil Slumps to Worst Weekly Loss of Year

   Futures in New York rebounded somewhat on Friday but still ended the week down 6.6 percent.

2. US Drillers Drop Five Rigs

   The U.S. dropped five oil rigs and gained one gas rig for a net loss of four rigs this week.

3. Exxon, Others Leading High-Impact Drilling Rebound

   High-impact drilling is rebounding amid a changing competitive landscape.

4. Producing More with Less Cash and a Flat Rig Count

   Senior economist for the Dallas Fed shares how oil and gas companies can spend less money, keep the rig count flat and grow production.

5. Activist Investors Push for Change at PDC Energy

   U.S. shale producers that have reined in growth plans to mollify investors are facing more pressure to slash their own pay and gut bloated offices.

6. New Jobs at Delek Refinery to Pay $90,000 on Average

   Delek US Holdings plans more enhancements to its refinery in Krotz Springs, La.

7. Pemex Says Mexico Plans $7.3B in Tax Breaks

   Mexico is seeking as much as $7.3 billion worth of tax breaks for Petroleos Mexicanos in 2020 and 2021, according to a document sent to Bloomberg.

8. Trump Sparks Oil Rally Then Rout

   At the heart of both price moves is the foreign and economic policy of Donald Trump.

9. IOG Appoints Ex-ConocoPhillips Manager

   Independent Oil and Gas announces the appointment of Neil Hawkings as an independent non-executive director of the company.

10. Supply Risks More Material than Demand Risks

    Jefferies is maintaining that negative supply side risks are more material than perceived demand risks.