Well aren't you just the Pulitzer Prize winner. Think maybe you could have added some info like, where, how many, division psl, age, length of service and favorite color.
2 replies (most recent on top)
maybe the future is now, eh mate? where will you be in 2020?
http://finance.yahoo.com/news/why-short-term-outlook-halliburton-170611494.html
Halliburton cuts jobs, reports losses
Halliburton cut close to 10% of its workforce over the most recent two quarters and has plans to lay off more employees in the near future. The company booked $823 million in charges related to job cuts and write-downs in its most recent quarter. Halliburton is in the process of acquiring Baker Hughes (BHI), another oilfield services company. Clients of such oilfield services companies have reduced their budgeted spending on fracking and drilling this year, with oil prices still following an uneven trend.
Oilfield services companies such as Halliburton (HAL) have been negatively impacted. Halliburton relies heavily on the North American market, which is characterized by a higher marginal oil cost. As the US oil rig count fell by close to 50% compared with last year, upstream E&P activity is expected to remain depressed.
http://finance.yahoo.com/news/tight-oil-stay-conoco-ceo-083227930.html
Tight oil is here to stay, Conoco CEO tells OPEC
VIENNA (Reuters) - The U.S. tight-oil boom is here to stay despite low crude prices as technological breakthroughs will allow steep reductions in costs, the head of U.S. firm ConocoPhillips (COP.N) told a seminar organised by oil-producing group OPEC.
"Innovations have already led to a U.S. energy renaissance. Tight-oil reservoirs can remain viable today, breakeven costs are already down by 15 to 30 percent," Ryan Lance, chairman and CEO of Conoco, said on Thursday.
The North American shale oil industry "will survive at $100 and it will survive at $50 or $60 Brent pricing too," Lance told an audience packed with OPEC officials, including Saudi Arabia's influential oil minister Ali al-Naimi.
International benchmark Brent crude (LCOc1) was trading just below $64 a barrel at 1015 GMT.
Oil prices crashed over the past year after OPEC decided against cutting production to tackle a global glut that arose from a U.S. shale oil boom. OPEC chose instead to fight for market share, betting that a price drop would depress output in higher-cost producers such as the United States.
Lance said cost reductions had been partly achieved due to cuts in service costs.
"We’re in the second inning of a nine-inning game. We’re still trying to figure out how to get the optimum amount of flow through the reservoir. There are more (gains) to come."
Breakeven costs for tight oil would likely go down another 15-20 percent by 2020, he said.
"So the message - unconventional production is here to stay," Lance said.