E&P

Basic Energy Services Inc., which provides well site services across the U.S. onshore, is jockeying for business as vendors duke it out in an increasingly harsh market, CEO Roe Patterson said.

The count of active rigs drilling for either oil or natural gas in the Lone Star State busted below the 400 barrier in the latest Baker Hughes Inc. rig count as the rout continued in the nation's oil patch. The U.S. crude-directed rig count fell 31 to 703 in the latest count.

Cabot Oil & Gas Corp.'s Eagle Ford Shale assets pushed its first quarter natural gas liquids (NGL) production up by more than 100% from the year-ago period, but it won't squeeze profit margins moving forward, with a plan to curtail volumes as commodity prices remain low.

The Natural Resources, Agriculture and Mining Committee in the Nevada legislature heard a proposal (SB 44) Thursday that already has passed the state Senate to authorize state oil/gas regulators to increase permitting fees for drilling.

The U.S. Geological Survey, which has traditionally assessed seismic risks on a six-year schedule, is proposing an annual hazard model…

Weatherford International plc expects that half of its North American (NAM) drilling equipment may be stacked by the end of June following a "miserable" performance in the first quarter, the company’s CEO said Thursday. Onshore drilling contractor Patterson-UTI Inc. (PTEN) already has stacked about one-third of its hydraulic fracturing equipment because there's "no real demand" for rigs anywhere, CEO Andy Hendricks said.

Record first quarter production was not enough to offset the steep decline in natural gas prices for EQT Corp., which saw its year-over-year earnings decline 10% and its costs increase with property impairment charges and rig termination fees.

The Oklahoma House of Representatives passed a pair of bills on Wednesday that would prohibit localities from restricting or placing outright bans on a long list of oil and gas activities, and spelling out that such regulations are the dominion of the Oklahoma Corporation Commission (OCC).

A day after an Asian partnership said it has selected an undisclosed location in Belmont County, OH, for a multi-billion-dollar ethane cracker, it was confirmed that a pair of South American companies would put on hold plans for a similar project in West Virginia.