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Oil Tycoon Pickens' Holdings Shrink in Prolonged Downturn

2015-11-17 18:48:13| Oil & Gas - Topix.net

The value of energy stocks held by his Dallas-based TBP Investments Management LLC fell by more than half in the quarter to $35.6 million, according to data compiled by Bloomberg. TBP exited stakes in 13 companies, including smaller oilfield contractors Pioneer Energy Services Corp., C&J Energy Services Ltd. and Patterson-UTI Energy Inc. Many of the positions Pickens sold were stakes he had bought in the second quarter.

Tags: oil holdings prolonged shrink

Prolonged Price Slump For Crude Oil, Natural Gas

2015-10-08 04:17:55| oilandgasonline Home Page

U.S. crude oil and natural gas production will continue to trend lower in the fourth quarter of this year, but both markets will likely remain oversupplied through 2016 and prices for both commodities will remain at multi-year lows.

Tags: price natural gas oil

Shell Cuts 6,500 Jobs and Slashes Spending on Prolonged Downturn

2015-07-30 20:39:01| Energy - Topix.net

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Royal Dutch Shell Plc said it's preparing for a "prolonged downturn" by cutting thousands of jobs and slashing billions of dollars in investments over the next two years.

Tags: jobs shell spending cuts