11-12-2016, 11:16 PM
Energy Transfer Partners LP said Thursday that its Dakota Access crude pipeline, plagued by protests for months, is still set to be in service by spring. Donald Trump’s election, meanwhile, means business is “only going to get better,” the company’s leader said.
Energy Transfer on Trump: ‘It’s Only Going to Get Better’ - Bloomberg
An oilfield services company that laid off almost two-thirds of its workers over the past two years is now warning it can't find enough new staff to take full advantage of a recent increase in activity. Calgary-based Essential Energy Services (TSX:ESN) says it cut more than 400 workers in 2015 and almost 250 in the first three months of this year, dropping its staff count from almost 1,000 to a low point of 343 last March.
The Organization of the Petroleum Exporting Countries pumped more crude oil last month even as the group geared up to complete a plan to cut output at its meeting at the end of this month in an effort to stabilize oil prices. OPEC’s crude oil output increased by 240,000 barrels a day in October to 33.64 million barrels a day, the group said in its monthly oil market report Friday
OPEC’s Oil Production Cut in Doubt as Output Flows - WSJ
US independent oil producers have taken advantage of the recent bump in crude prices to lock in future revenues, building up derivatives positions for 2017. In third-quarter earnings reports over the past three weeks, several US exploration and production companies said they had hedged significantly more of their expected oil sales for the coming year than they had done at the equivalent point of 2015 in preparation for this year.