Together, Rockwater and Crescent will create one of the largest oilfield water management services companies serving key shale plays across the U.S. and Western Canada, according to the release.
Triangle Petroleum said March 27 that the NYSE MKT LLC informed it that it will begin delisting Triangle stock--under the ticker TPLM--from the NYSE MKT Exchange. Trading was suspended at market opening.
The government aims to sell up to 5% of Aramco, listing the shares in Riyadh and at least one foreign exchange, to raise cash for investment in new industries, as the kingdom seeks to diversify its economy beyond oil exports in an era of cheap crude, Reuters reported.
Russia and Iran have pledged to continue efforts to rein in oil production and stabilize markets, the presidents of both countries said in a joint statement on March 28.
Ocean Rig said March 28 it had entered into an agreement with creditors representing more than 72% of the company's debt for a financial restructuring. The company had $3.25 billion in debt as of Dec. 31.
The technique involves testing DNA extracts from microbes found in rock samples and comparing them to DNA extracted from oil. Similarities or differences can pinpoint areas with the biggest potential.
The investment was made through a newly created venture fund, which has the ultimate goal of securing more activity for Schlumberger, CEO Paal Kibsgaard said in a statement.
But crude was weighed down by a resurgence in U.S. shale oil production and the expectation that inventories would once again build, illustrating the global supply overhang that has depressed prices for three years.
The units will trade on the New York Stock Exchange under the ticker symbol "HESM."
Norwegian bank DNB has sold its share of loans funding the Dakota Access pipeline, it said on March 26.
The agreement has elevated the price of crude to more than $50/bbl, but it helped U.S. shale oil producers boost their output, hampering efforts to reduce global stockpiles, Reuters reported.
Newfield Exploration said March 27 it's off to a "roaring start in 2017" with a record oil well in Oklahoma's Stack Play in the Anadarko Basin.