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Kasich defends tax increase on oil and gas drillers
2015-02-25 03:59:32| Oil & Gas - Topix.net
Ohio's governor is making his case for a proposed tax increase on the oil and gas industry, saying it won't deter production in the state. Gov. John Kasich has called for a fixed rate on crude oil and natural gas of 6.5 percent at the wellhead, and a lower rate of 4.5 percent for natural gas and natural gas liquids sold downstream.
Hedge Funds Raise Bullish Oil Bets as Drillers Idle Rigs: Energy
2015-02-23 16:27:41| Oil & Gas - Topix.net
Hedge funds and other money managers increased net-long positions in West Texas Intermediate crude by 2.7 percent in the week ended Feb. 17, U.S. Commodity Futures Trading Commission data show. Futures rose 7 percent in the report week as companies including Total SA and Apache Corp. said they would cut spending and drill less.
Oil Drillers Under Pressure to Scrap Rigs to Cope With Downturn
2014-12-24 09:39:41| Oil & Gas - Topix.net
Offshore oil-drilling contractors, who last year were able to charge record rates for their vessels, are now under pressure to scrap old rigs at an unprecedented pace. The recent five-year low in oil prices is threatening an industry already grappling with a flood of new vessels and weakening demand.
REFILE-Few big US land drillers set to ride out oil downturn as winners
2014-12-19 19:32:26| Oil & Gas - Topix.net
Large U.S. onshore drilling firms that operate new, faster rigs are best placed to weather the looming downturn brought by slumping crude prices and could gain market share from smaller drillers with considerable debt and outdated equipment. Analysts say companies with considerable debt such as Nabors Industries Ltd and small private firms with less efficient rigs will scramble to keep them in operation.
Oil Crash Exposes Weakness in Shale Drillers' Insurance: Energy
2014-12-19 17:43:17| Energy - Topix.net
At least six companies, including Pioneer Natural Resources Co. and Noble Energy Inc., used a strategy known as a three-way collar that doesn't guarantee a minimum price if crude falls below a certain level, according to company filings.
Tags: insurance
energy
oil
crash
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