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Tag Archives: drilling operations

Weatherford cuts 3,000 jobs

Texas oil, pumpjack

Weatherford International plans continued cost cuts to bring its net debt from $6.5 billion at the end of 2016 to less than $3 billion over the next four years, said CEO Krishna Shivram on a Feb. 2 conference call, reports the Houston Business Journal. Part of the plan to reduce costs comes in the form of job cuts. The company ...

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Newport officials protest flier’s ‘health advisory’ about development planned for Banning Ranch

Newport Beach officials are taking issue with a flier proclaiming an “urgent health advisory” that is being circulated in opposition to the proposed development of Banning Ranch. The flier shows an aerial photograph of the 401-acre Banning Ranch property, an expanse of scrub- and grass-covered bluffs and wetlands overlooking the ocean near Pacific Coast Highway that for years has been ...

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Editorial: Erie wisely welcomes energy entrepreneur

There is a positive sense of deja vu with the news that an energy company will relocate its headquarters to an Erie mansion. As Ed Palattella reported in his May 18 story, “Historic move,” EmKey Industries will move 20 to 25 employees from its Millcreek Township offices into a Greek Revival building at 558 W. Sixth St. in August. This ...

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Despite oil price panic, experts remain optimistic

oil and money

Bloomberg reported today that although oil prices are falling, the market will not collapse anytime soon. Financial analysts predict that the current slowdown in growth will not last forever.  This is because global consumption itself is slated to increase to 99 million barrels a day in 2019, up from 92.8 million this year. In the future, oil consumption should grow ...

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