Oklahoma's oilfields face some of the highest costs in the U.S. shale indus...
- Oklahoma’s oilfields face some of the highest costs in the U.S. shale industry, making the state a likely first victim of the crash that has seen crude fall to its lowest price in 18 years.
Oil companies in Oklahoma were laying off workers and slowing activity even before the spread of the coronavirus and the price war between Saudi Arabia and Russia. Now, with oil prices at $25 a barrel, many may be forced to shut completely. Continental Resources , which bet big in Oklahoma, on Thursday cut this year’s spending plan by 55% to $1.2 billion and announced it would cut active drilling rigs to four from about 10 in the state. The company anticipates its U.S. production will fall by roughly 5% this year.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
US seeks $3 billion to boost oil producers as prices plungeThe Trump administration said Thursday that it is seeking $3 billion from Congress to top up the country’s strategic petroleum reserves, potentially propping up U.S. oil producers after crude prices crashed globally. President Donald Trump had directed the Energy Department last week to fill the United
Leer más »
U.S. shale producers cut executive pay as oil prices crashAfter laying off thousands of workers and sidelining equipment, U.S. shale produ...
Leer más »
Occidental plans to name former CEO Chazen as chairman: WSJOil and gas producer Occidental Petroleum Corp is planning to name former Chief ...
Leer más »
An oil price war is here to stay, analysts warn — even as prices tumble to nearly two-decade lowsAn oil price war between Saudi Arabia and Russia will most likely accumulate over the course of the year, energy analysts have told CNBC.
Leer más »
Oil halts three-day slump but virus outbreak, oversupply still weighOil prices rose nearly 10% on Thursday after a three-day selloff drove them to t...
Leer más »