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Rising energy prices and geopolitical instability could force more nations to explore shale gas reserves, leading to wider opportunities for fracking.
National Oilwell Varco, Inc.
Clean Harbors, Inc.
Helmerich & Payne, Inc.
Patterson-UTI Energy, Inc.
Nabors Industries Ltd.
Oil States International, Inc.
U.S. Silica Holdings, Inc.
Precision Drilling Corporation
Newpark Resources, Inc.
Flotek Industries, Inc.
TETRA Technologies, Inc.
Superior Energy Services, Inc.
CARBO Ceramics Inc.
Canadian dollar loses ground following weak U.S. Initial Jobless Claims data but rebounds after the surge in oil prices.
The recovery in equity markets has stalled along with new evidence of accelerating coronavirus spreading. There is a saying in the market: ” when the US is coughing, the world has a fever”.
A busy economic calendar may not be enough to distract the markets. The virus continues to spread at a sharp pace in spite of lockdown measures…
The Canadian dollar manages to rebound against the U.S. dollar following the release of the positive Chicago PMI data.
PMI numbers out of China impress early. Will a busy economic calendar be enough to distract the markets from the continued spread of COVID-19?
Hello Pal International Inc. (CSE:HP) shareholders should be happy to see the share price up 20% in the last week. But...
It’s bearish start to the day, with the continued rise in coronavirus cases raising the prospects of a lengthier economic meltdown…
FMC Technologies (FTI) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
China’s industrial profits tested risk appetite early on, with stats later today unlikely to have a material impact as the governments battle on.
Silica Holdings (SLCA) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
The Dow and the S&P 500 closed in the positive territory on Wednesday as investors remained hopeful that the U.S. Senate will pass a $2 trillion economic rescue package to boost beaten-down stocks.
U.S. Silica's (SLCA) latest move is in response to the decrease in oil prices as well as an expected decline in drilling and completion activities in North American shale.
Apart from the cost containment, Nabors (NBR) plans to postpone its dividend payout to stash cash as business operations slow down due the coronavirus outbreak and the oil price struggle.
The BoE and ECB will garner some attention, though expect updates from Capitol Hill and U.S weekly jobless claims figures to steel the show.
(Bloomberg) -- Work in U.S. oil fields has plunged to the lowest in at least four years, according to the Federal Reserve Bank of Dallas.“Relative to last quarter, business activity levels plunged, firms cut capital spending and outlooks became extremely pessimistic,” Michael Plante, senior research economist for the Dallas Fed, said Wednesday in the bank’s latest survey of energy companies.The survey’s business activity index, which already was at a negative 4.2 for the fourth quarter, sank to a negative 50.9.“All indexes pointed to worsening conditions among oilfield services firms,” according to the report.Global OutlookWorldwide, the crude slump may eliminate 1 million jobs, Rystad Energy said in a separate report.The oil services industry, which explorers hire to map underground reservoirs, drill wells and rejuvenate older fields, employs more than 5 million across the globe today, according to Rystad. The Norway-based industry consultant is forecasting a 21% contraction in that workforce this year, a staggering blow but still not as bad as the 30% loss exacted during the depths of the last crash in 2016.“Low oil prices are likely to persist in 2021 and could lead to further workforce reductions,” Audun Martinsen, Rystad’s head of oilfield service research said Wednesday in a report. “E&P operators and contractors want to minimize the potential spread of Covid-19 by reducing the workforce to an absolute minimal level.”North American shale, which Schlumberger Ltd. and Halliburton Co. warned on Tuesday will decline faster than during the last downturn, will feel the greatest job-cut pain, losing as much as 32% of its workforce, according to Rystad. Offshore contractors will shed 19% this year, and onshore jobs around the globe outside of shale will drop by 17% this year.Nabors Industries Ltd., owner of the world’s biggest fleet of onshore rigs, plans to suspend its dividend and slash C-suite pay. First-quarter earnings will fall short of guidance, the company said on Wednesday.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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