Industry News

MOTIVATION FOR DEVON WAS 80,000 ACRES IN CORE OKLAHOMA STACK, ONE OF THE MOST PROLIFIC AND ECONOMIC OIL PLAYS IN THE US EXECUTIVE PHOTOS BY MARK DOOLITTLE EDITOR’S NOTE: On Dec. 7, Devon Energy Corporation, the sixth-largest US petroleum producer according to asset value, announced its $1.9 bi...

Oil prices might be down, but that hasn’t kept drillers away from the STACK play. [The Motley Fool] America’s oil boom has undergone a lot of changes over the past few years. What started out as a North Dakota-focused boom quickly spread to Texas, and then to the Rockies and Oklahoma. And, w...

Fears of slowing oil demand, a global crude glut and Middle East woes spooked the market at the beginning of the year, but now, a change of heart could guide oil to $50, according to an RBC Capital Markets strategist. “[The] market’s psychology has changed,” Helima Croft, RBC Capit...

Learn why Shale Oil Companies are rushing to drill the Oklahoma STACK Play even at $30 dollars per barrel. The bottom line is that the economic returns in the STACK Play remain very attractive.  Devon Energy just spent 1.9 billion acquiring an additional 80,000 acres from Felix Energy in the STACK ...

Money managers may not agree where oil prices are headed, but they are increasingly eager to place their bets. Total wagers on the price of crude climbed to the highest since the U.S. Commodity Futures Trading Commission began tracking the data in 2006. Speculators’ combined short and long positi...

After three more days of buying, Warren Buffett’s Phillips 66 (PSX) shopping spree is nearing a billion dollars for the year. In a new filing, Buffett’s Berkshire Hathaway (BRK.A) reveals that on Monday, Tuesday and Wednesday of this week the company purchased another 1.7 million shares ...

Oil producers in West Texas, defying expectations they would fall victim to OPEC’s price war, are instead selling investors on the idea that they can still profit with prices below $35 a barrel. Drillers in the Permian Basin, the biggest U.S. shale field, have raised at least $2 billion from share...

With oil prices having already lost roughly 20% year to date, a Thursday rebound didn’t come as a surprise, but that doesn’t mean prices have bottomed out. “Prices will be low for some time due to supply overhang and [a] soft demand story,” said Rob Haworth, senior investment strategist for ...

Stick with oil, it could be the “trade of the year,” according to Citigroup Inc. The outlook for crude isn’t all bad, even as prices head for the worst start to a year since 1991 and there are dire warnings of the world drowning in supply. Forecasters from UBS Group AG to Societe Generale SA [...

Oil rallied, capping the biggest two-day advance in more than seven years after a slump to a 12-year low prompted some investors to buy back record bearish bets. Front-month futures jumped 21 percent after the February contract expired Wednesday at $26.55 a barrel, the lowest settlement since 2003. ...